A Southern bank plans new South End branch, growing its Charlotte presence

First Horizon Bank is proposing a Charlotte expansion with a branch in South End.

The Memphis, Tennessee, bank project would involve renovating an existing building or the demolition and construction of a new building at 1812 South Blvd., according to a Jan. 23 filing with the city of Charlotte.

First Horizon has been expanding in Charlotte, including consolidating and relocating two other office spaces in Charlotte into one regional corporate office that will anchor South End’s 110 East office tower. It’s expected to open in the first half of this year.

First Horizon declined a request for comment about their plans.

The branch site would be on the same block adjacent to the tower. Minneapolis-based U.S. Bank opened its seventh Charlotte-area branch in August at 1801 South Blvd. in South End, just across the street in the former Fuel Pizza spot.

The 88,000-square-foot First Horizon Charlotte hub, announced in August, will have 250 workspaces and occupy the top three floors of the 24-story building. First Horizon would join Crypto-giant Coinbase and Florida-based SouthState Bank in the tower.

Charlotte’s booming banking market

Charlotte’s banking market, although dominated by Bank of America, Truist, and Wells Fargo, is seeing rapid expansion from smaller and regional institutions like First Horizon.

Notable expansions include First National Bank, which now has over 100 branches across the Carolinas, and Huntington National Bank, with new locations in SouthPark and South End.

BankUnited is also expanding by recruiting commercial real estate executives.

Other financial institutions increasing their footprint in the market include JPMorgan Chase, Fifth Third, Pinnacle Bank, Dogwood State Bank, SoFi and US Bank.

About First Horizon Bank in Charlotte

First Horizon operates in 12 states concentrated in the southern U.S. The bank has $83.9 billion in assets as of Dec. 31. There are about 16 branches in Charlotte region.

On Friday, First Horizon hired Mike Holly as senior vice president head of deposit product management. Based in Charlotte, he will lead a team focused on consumer and small business deposits.

Holly has more than 12 years of industry experience at USAA, most recently as executive director head of deposits fee income, overdraft and funds availability.

Last month, Justin Rutledge was named Charlotte market president.

He will report to Laura Bunn, Mid-Atlantic regional president for First Horizon Bank. Rutledge will lead market strategy in Charlotte with a focus on client growth, associate engagement and community service.

Rutledge has more than 20 years of banking experience.