Alicia just told me that First Horizon (owned by First Tennessee Bank) has backed out of their sale to Fifth Third Bank in Georgia. The contracts were signed in September and 5/3 was prepared to convert the customer’s information tonight. 5/3 had changed the signs, sent all customer’s their account numbers, checks/cards, and all the new information they would need. With conversion happening tonight, many of 5/3’s staff was in Atlanta this week to make the transition smooth. I guess First Horizon got cold feet or whatever, but they have a signed contract. It makes me wonder if I can back out of my HELOC loan to First Horizon with no repercussion. Hmm….
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