Louisiana-based Iberiabank has waived off out-of-network ATM fees for customers using First Horizon ATMs.
The move, effective immediately, comes a week after the holding companies of First Horizon Bank and Iberiabank agreed to combine their operations in an all-stock merger of equals agreement. The merged entity will manage $75bn in assets.
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Commenting on the latest move, Iberiabank President and CEO Daryl Byrd said: “We are committed to continue delivering top-notch service to our clients.
“With this expanded access to ATMs, clients across the combined footprint are now able to experience the first of many benefits that the merger of equals will bring.”
Overall, clients of both the banks can now access 684 ATMs.
Iberiabank provides commercial and retail banking products and services across 10 US states. The bank operates 319 locations including 190 bank branch offices and three loan production offices.
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By GlobalDataThe merger with First Horizon Bank is expected to drive value creation and improve financial performance. The merged lender will also have an expanded business portfolio, and stronger revenue flow.
The combined group will adopt the First Horizon brand with its headquarters in Memphis, Tennessee. First Horizon shareholders will have a 56% interest in the combined company, with Iberiabank shareholders holding the rest.
