First Horizon CFO Hope Dmuchowski on Bank’s Growth Strategy
First Horizon CFO Hope Dmuchowski recently shared insights into the Memphis-based lender’s approach to mergers and acquisitions. She highlighted that while M&A is not a primary focus for the bank, they remain open to opportunities that may arise.
During a recent interview, Dmuchowski emphasized the importance of organic growth for First Horizon. However, she acknowledged that the bank would consider purchasing a smaller institution, particularly in markets like Raleigh, North Carolina. She mentioned the appeal of acquiring a community bank with a modest number of branches, which could complement First Horizon’s expansion strategy.
Hope Dmuchowski
Permission granted by First Horizon
Dmuchowski highlighted the potential benefits of acquiring a bank in Raleigh, citing the challenges of securing prime locations for new branches in a competitive market. She noted that such an acquisition could accelerate First Horizon’s growth plans and offer a strategic advantage in a high-growth region.
Hiring and Branch Expansion
First Horizon is actively focused on expanding its presence in key markets like North and South Carolina, Florida, and Texas. The bank is planning to open new branches and hire additional bankers to support its growth initiatives.
Dmuchowski mentioned plans to add several branches in Raleigh over the next year and emphasized the importance of having a strong banker force to maintain client relationships. She highlighted the significance of investing in technology to attract and retain top talent in the banking industry.
After implementing a new treasury management system, First Horizon is preparing to launch a consumer digital platform later this year. The bank aims to enhance its consumer banking segment and drive growth through innovative digital solutions.
Industry Trends and Regulatory Outlook
Dmuchowski discussed the evolving regulatory landscape and the need for consistency in regulations to support the banking sector. She highlighted the impact of regulatory changes on capital requirements and emphasized the importance of staying informed about industry developments.
As the banking industry undergoes rapid transformation, First Horizon is adapting its strategies to remain competitive and capitalize on emerging opportunities. Dmuchowski emphasized the bank’s commitment to growth and innovation in response to changing market dynamics.
For more information, please visit Banking Dive.
