Local Banks Could Benefit From Bailout
George Jackson
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By George Jackson
Reporter-Producer / News Channel 11
Published: December 1, 2008
Johnson City, Tenn.—A bank brand in the Tri-Cities might see some money from the federal government’s $700-billion rescue package.
According to Dow Jones news wires, First Horizon National Corporation (the parent company of First Tennessee Bank), will receive $866-million dollars. It’s expected to increase the bank’s tier-one capital ration from 10.9-percent to 14.1 percent.
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