A newcomer to Arkansas’ banking market is introducing itself by awarding $100,000 to the state’s nonprofits.
First Horizon Foundation, the private charitable foundation of Memphis, Tenn.-based bank holding company First Horizon Corp., will award the money through its “Better Together” grant campaign. Fifteen Arkansas organizations, five each in the state’s Northeast, Northwest and Central regions, will be selected to receive an inaugural grant ranging from $5,000 to $10,000. Eligible nonprofits must be 501c3 organizations and be based in or serve Arkansas communities.
Grant proposals for projects and initiatives will be accepted through June 30. Selected recipients will be notified in August.
Publicly traded First Horizon Corp. entered the Arkansas market in 2020 through the acquisition of Louisiana-based IberiaBank Corp. IberiaBank offices — there are 16 throughout Arkansas — will transition to the First Horizon name later this year.
“First Horizon Foundation’s presence in Northwest Arkansas will grow our current community-focused efforts and enable us to serve the community more,” said Jamey Vaught, Northwest Arkansas market leader. “I look forward to introducing our foundation and its work to our community partners.”
First Horizon Corp.’s banking subsidiary, First Horizon, is one of the largest banks in the southeast, with total assets of $83.8 billion as of Dec. 31, 2020. That’s nearly double the level of 2019.