Tri-State Bank of Memphis Hires First Tennessee Veteran as CEO

American Banker

Tri-State Bank of Memphis in Tennessee has hired Christine Munson, formerly of First Tennessee Bank, as its chief executive. breaking_news people womenin-banking tn community-banking

SoftBank’s Vision Fund 2 Prepping Future Investments

PYMNTS

Sources have said that the Japanese conglomerate is reportedly in talks about funding Alto Pharmacy , a pharmaceutical delivery startup; Creator , which is focused on robotic burger-making; and Memphis Meats, a maker of lab-grown meat. SoftBank’s Vision Fund, Memphis Meats and Alto Pharmacy all declined to comment, while Creator did not immediately respond to a request for comment. Investments Alto Pharmacy Creator Memphis Meats News SoftBank Group Corp. SoftBank Group Corp.

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SoftBank’s Vision Fund 2 Could Back Burger Maker, Pharma Delivery Firm

PYMNTS

Sources have said that the Japanese conglomerate is reportedly in talks about funding Alto Pharmacy , a pharmaceutical delivery startup; Creator , which is focused on robotic burger-making; and Memphis Meats, a maker of lab-grown meat. SoftBank’s Vision Fund, Memphis Meats and Alto Pharmacy all declined to comment, while Creator did not immediately respond to a request for comment. Investments Alto Pharmacy Creator Memphis Meats News SoftBank Group Corp. SoftBank Group Corp.

Patientco adds billing interaction, payments app to Epic marketplace

Payments Source

Baptist Memorial Health Care in Memphis, Tenn., is among the first to enable real-time payment posting into Epic systems and a single deposit that reconciles daily with the Baptist Memorial system. Real-time payments Healthcare industry Bill pay

The 5 Most Exciting University AI Projects

Dataconomy

Artificial Intelligence Education Carnegie Mellon Google Deepmind Harvard University IARPA Oxford University University of Memphis University of WashingtonArtificial Intelligence is one of the most exciting fields of growing technology. There are incredible advancements in AI happening on a regular basis. Many of the top universities around the world are involving themselves in some very interesting and exciting AI projects. These projects cover a pretty wide range of.

First Horizon eyes more expense cuts in wake of Iberiabank merger

American Banker

The Memphis company is looking to take out more costs than initially planned due to the economic uncertainty brought on by the coronavirus pandemic.

First Tennessee Promotes Three Execs in Mid-Atlantic Region

American Banker

First Tennessee Bank in Memphis said Tuesday that has promoted three executives in its Middle Atlantic region. breaking_news people corporate-governance tn community-banking

First Tennessee Veteran Gets a Chairmanship Ahead of Retirement

American Banker

First Tennessee Bank in Memphis is giving veteran regional leader Pam Fansler an unusual retirement present: a chairmanship. people womenin-banking tn community-banking

First Horizon's Profit Climbs 7% on Strong Revenue Gains

American Banker

Strong revenue growth powered First Horizon in Memphis to a 7% increase in third-quarter earnings. consumer-finance tn breaking_news national-regional

Solid Revenue Lifts First Horizon's Results

American Banker

First Horizon National in Memphis, Tenn., reports solid quarterly results on the strength of revenue growth. breaking_news performance earnings-national-regional-banks tn national-regional

First Horizon Unit to Buy Firm That Securitizes SBA Loans

American Banker

A unit of First Horizon National in Memphis, Tenn., has agreed to buy Coastal Securities, a Houston firm that trades, securitizes and analyzes Small Business Administration loans. breaking_news dealmaking-strategy national-regional

First Tennessee to Invest $1 Million in Financial Education

American Banker

First Tennessee Bank in Memphis announced Wednesday that it will commit $1 million to Operation Hope’s new HOPE Fund to offer free financial literacy education in low-income communities. breaking_news consumer-finance tn national-regional

Today In Retail: GoFor Debuts ‘Shop Local’ Initiative In US Cities; CVS Health Will Offer COVID-19 Vaccines In Six More States

PYMNTS

cities such as Charlotte, North Carolina and Memphis, Tennessee. In today’s top retail news, GoFor Industries has debuted a “Shop Local” effort in some U.S. cities, while certain CVS Pharmacy stores in six additional states will get COVID-19 vaccines to qualified populations.

M&A Likely to Remain Slow, Says First Horizon Chief

American Banker

Bryan Jordan, chairman and chief executive of First Horizon National in Memphis, Tenn., M&A activity has slowed this year, and D. doesn't see that changing anytime soon. breaking_news national-regional dealmaking-strategy

First Horizon Reports Solid Results on Increased Revenue

American Banker

First Horizon National in Memphis, Tenn., reported improved quarterly earnings that reflected higher revenue. breaking_news consumer-finance commercial-lending performance tn national-regional

First Tennessee Hires Four for Its Growing Niche Lines

American Banker

First Tennessee Bank in Memphis has recruited a quartet of executives for its expanding specialty banking lines that serve the franchising, healthcare, music, and transportation industries. breaking_news commercial-lending people tn national-regional

Four Months into 2016 and Only Two Bank Failures

American Banker

When state and federal regulators closed Trust Company Bank in Memphis, Tenn., on Friday, it was only the second U.S. bank failure this year. breaking_news community-banking dealmaking-strategy fdic consolidation tn law-regulation

Suburban Rents On The Rise As People Flee Major Cities

PYMNTS

In Memphis, Tennessee, rents were up 6 percent, while rent climbed around 5 percent in Phoenix, Detroit and Cleveland, per the news outlet.

First Horizon, Wintrust to Buy Franchise Loans from GE Capital

American Banker

First Horizon in Memphis, Tenn., and Wintrust Financial in Rosemont, Ill., have agreed to buy more than $1.2 billion in franchise loans from GE Capital. breaking_news national-regional tn dealmaking-strategy

Sawyers & Jacobs Bank Tech Summit 2019: How Accelerators and Incubators May Hurt or Help Your Bank

William Mills

WMA president Scott Mills spoke at the Sawyers & Jacobs 2019 Bank Tech Summit in Memphis, Tennessee about how fintech accelerators and incubators can be of service to community financial institutions.

FedEx Eyes Stake In Germany’s Hermes Delivery Service

PYMNTS

The Memphis-based delivery company has instead seen a massive upswing in low-margin personal home deliveries as people start to shift to eCommerce during the pandemic. With home deliveries surging, FedEx may be looking to acquire stake in German delivery firm Hermes , according to the Handelsblatt newspaper, as reported by Reuters.

Digital Bank Startup Branch Offers Mobile Payments

PYMNTS

In addition to its partnership with Mastercard, Evolve Bank & Trust, the Memphis-based lender, will provide a free checking account and debit card. Branch , the digital bank startup, is branching out. The Minneapolis-based company has partnered with Mastercard to offer consumers access to their funds through their Branch Mastercard debit cards by adding it to mobile wallets, including Apple Pay, from the Branch mobile app. .

COVID-19 Vaccine Could Complicate Holiday Shipping Delays

PYMNTS

A COVID-19 vaccine has at last been approved in the U.S. for distribution. That is undeniably good news. The not so good news?

Mall Vacancies At Highest Level In Eight Years

PYMNTS

But 24 cities experienced vacancy rates that exceeded 12 percent, with the inclusion of Buffalo, Memphis and Albuquerque. Some geographies are coping with the upheaval in retail better than others, as vacancies in U.S. shopping malls reach an eight-year high. Reis data indicates that the proportion of units sitting empty in some cities – with the inclusion of Birmingham, Alabama and Indianapolis, Indiana – is roughly four times higher than San Francisco, the Financial Times reported.

Fixing Meal Delivery By Ditching The Subscriptions 

PYMNTS

So far the only city it has launched in is Memphis — though Nashville and eventually urban areas across the U.S. That expansion will take some doing, as FIX’s future depends on masterful management of the very high-touch logistics system it has created, one that is managed from what the company describes as a “state-of-the-art production facility” at its headquarters in Memphis.

Mobile Wave Makes Cost-Cutting Easier for First Horizon

American Banker

The Memphis company's forecast for the remainder of the year calls for cost saves from a branch-reduction effort that's gaining momentum as online and mobile banking grow and monthly visits to branches plummet. consumer-finance dealmaking-strategy bank-technology performance m-a commercial-lending mobile national-regional

Food Startup Novameat Can 3D Print Alt-Meat Steaks

PYMNTS

It has been involved in companies like Memphis Meat, Beyond Meat, Kite Hill, Geltor, Good Dot, Aleph Farms, Supermeat, Mosa Meat, New Wave and Zero Egg. “We Novameat, a Spanish food startup that wants to bring plant-based meat alternatives to the public, has gotten an investment from New Crop Capital to bring its 3D printed plant-based steaks to market, according to a report by TechCrunch.

Uber Expands ‘Ride Pass’ Monthly Subscription

PYMNTS

The new cities are Memphis, Tennessee; New York City, New York; Jacksonville, Florida; Dallas, Texas; St. Ride-hailing company Uber is expanding its Ride Pass program, a subscription service that lets riders pay a monthly fee for discounted rides on all Uber platforms, including electric bikes, scooters, UberX, Uber Pool and Express Pool, according to reports. When the program was first introduced last year, the cost was $14.99 per month.

FedEx Teams With Walmart, Target On Same-Day Delivery Robot

PYMNTS

The project has to be approved in the proposed test cities, including Memphis, where it has the go-ahead from Mayor Jim Strickland. FedEx plans to start testing a delivery robot this summer for “last-mile” home deliveries, and has partnered with Walmart, Pizza Hut and others to try out the technology, according to reports.

Instacart, Walmart Canada Work On Grocery Delivery Pilot

PYMNTS

According to a report in USA Today in August, the service was available in Atlanta and Augusta, Georgia; Knoxville, Memphis, and Nashville, Tennessee; Little Rock, Arkansas, as well as other cities and regions. To provide customers with same-day grocery delivery, Instacart is working with Walmart Canada on a pilot in Winnipeg and Toronto. Customers will be able to order items from 17 stores with the program, according to reports. Instacart is no stranger to Canada.

Shuttered Sam’s Club Converted Into eCommerce Center

PYMNTS

In June, the retailer unveiled a new fulfillment center in Memphis. After closing its doors earlier in the year, a former Sam’s Club store outside of Chicago will become a fulfillment center for eCommerce orders. The new facility will be the second distribution hub of its kind in the U.S., the Chicago Tribune reported. Once completed, the new center will serve as a regional hub for Sam’s Club online orders and will cover several hundred miles around Chicago.

Are you ready? Increasing regulation for small business lenders

Abrigo

Kavita Shelat, a member of Baker Donelson’s Financial Services Group in Memphis, advises financial institutions in her article HMDA Data for Small Business Loans? In December of 2016, the Consumer Financial Protection Bureau’s associate directors of the Office of Fair Lending expressed a new shift in priorities that will increase focus on small business lending, among other loan types.

FedEx Offers $40K-$110K Bonuses To Keep Pilots Flying

PYMNTS

In fact, Trip Miller, managing partner at Memphis-based Gullane Capital Partners and a longtime FedEx shareholder, said the pilot shortage will hit FedEx hardest in about three to five years. “We FedEx is paying retirement-age pilots bonuses of as much as $110,000 to keep them flying during the holiday season.

Rebeca Romero Rainey: Community bankers take the high road

Independent Banker

I’ll be traveling to Memphis to visit Vining Sparks and CRA Partners. “Your character, integrity and strong reputations will continue to serve you well.”. With the 10th anniversary of the Wall Street financial crisis just behind us, let us not forget the wrongdoings of the nation’s largest and most systemically important banks—wrongdoings that led to the Great Recession and the undoing of one too many American dreams.

Tyson, Cargill, And Other Meat Incumbents Invest In A Meatless Future

CB Insights

Cargill has backed lab-grown meat startup Memphis Meats (Aug’17), pea protein producer PURIS (Jan’18), and Calysta (Feb’16 and May’17), a company designing methane-based proteins. Tyson has invested in Memphis Meats (Jan’18) and Beyond Meat (Oct’16 and Dec’17), and most recently announced an investment in Israel-based clean meat startup Future Meat Technologies (May’18).