First Horizon Routing Number: The $13 Billion Deal That Fell Apart

When the biggest bank deal in years collapsed overnight

In May 2023, TD Bank and First Horizon jointly announced the termination of their $13.4 billion merger agreement - a deal that would have been the largest U.S. bank acquisition in over a decade. The merger had been announced in February 2022 with enthusiasm on both sides: TD wanted to expand its U.S. branch network deeper into the Southeast, and First Horizon's shareholders stood to receive a significant premium. Then the deal stalled.

The official reason was TD's inability to obtain timely regulatory approval. Behind the scenes, TD was grappling with a separate anti-money laundering investigation that would eventually result in a $3 billion penalty from U.S. regulators. The AML problems made it politically impossible for regulators to approve a major acquisition, and after over a year of waiting, both parties walked away. TD paid First Horizon a $200 million termination fee, and First Horizon found itself independent again - with an executive team, branch network, and customer base that had spent 15 months preparing for an integration that would never happen.

What the failed merger means for First Horizon customers

For First Horizon's roughly one million customers, the deal's collapse was paradoxically good news. Account numbers, routing numbers, branch locations, and digital banking platforms all remained unchanged. Customers who had been bracing for the disruption of a major systems integration - new account numbers, new online banking portals, new mobile apps - got to keep everything as it was. Routing number 084000026 stayed exactly where it had always been.

The bank also retained its Memphis headquarters, its regional management structure, and its Tennessee-centric identity. Had the deal gone through, First Horizon would have been absorbed into TD's existing U.S. operations and effectively ceased to exist as an independent brand. Instead, First Horizon pivoted to a standalone strategy focused on organic growth in its core Southeast and Texas markets.

Memphis roots and a Southeast footprint

First Horizon traces its history to 1864, when First Tennessee National Corporation was chartered in Memphis. The bank rebranded to First Horizon in 2020 after acquiring IBERIABANK, a Lafayette, Louisiana-based institution, in a $3.9 billion merger-of-equals. That deal extended First Horizon's footprint from Tennessee into Louisiana, Texas, Florida, Alabama, Mississippi, Arkansas, Georgia, and the Carolinas.

The routing number 084000026, with its 084 prefix from the Federal Reserve Bank of St. Louis's Memphis branch, serves as the primary number for legacy First Tennessee accounts. Former IBERIABANK customers may still use IBERIA-era routing numbers depending on when their accounts were migrated, so it is worth confirming through the First Horizon app or a branch visit.

Transfer details and how to find your routing number

For ACH transfers and direct deposit, the primary First Horizon routing number is 084000026. For domestic wire transfers, use the same number. First Horizon's SWIFT code for international incoming wires is FTBKUS4M. Log into the First Horizon mobile app or online banking to confirm the routing number tied to your specific account, particularly if you were a former IBERIABANK customer.

Stability through independence

The irony of the failed TD acquisition is that First Horizon emerged as a stronger independent bank than many expected. Free from integration distractions, the bank refocused on its core markets and client relationships. For businesses that want that same sense of stability without being tied to any single bank's corporate strategy, Slash provides a banking layer that operates independently of branch networks, merger timelines, and regulatory uncertainty, giving finance teams consistent tools and uninterrupted access to payments infrastructure regardless of what is happening in the banking M&A cycle.