HORNETS, FIRST HORIZON BANK ANNOUNCE MULTIYEAR PARTNERSHIP

Rhea-AI Summary

First Horizon Bank (NYSE: FHN) has entered into a multiyear partnership with Hornets Sports & Entertainment (HSE), becoming a Proud Partner of the Charlotte Hornets. The partnership includes the entitlement sponsorship of the Theater Box at Spectrum Center, naming rights to the arena's private Trade and Caldwell Entrance, and presenting sponsorship of the 'Bee-Ball for All' youth initiative. First Horizon Bank, with $82.6 billion in assets as of September 30, 2024, will receive various in-arena branding opportunities and a dedicated alcove on the Uptown Concourse. A ribbon-cutting celebration for the First Horizon Bank Theater Box is planned for early 2025.

Positive

• Secured multiyear partnership with major sports franchise expanding brand visibility
• Strategic placement in premium arena locations enhancing corporate presence
• Strong asset position with $82.6 billion as of September 2024

Negative

• None.

Insights

Market Research Analyst

This partnership announcement, while positive for brand visibility, represents a relatively minor financial commitment for First Horizon Bank (FHN), with $82.6 billion in assets. The deal includes naming rights for a theater box and entrance at Spectrum Center, plus sponsorship of a youth initiative. While it strengthens First Horizon's presence in Charlotte's competitive banking market, the financial impact is likely minimal compared to the bank's overall operations. The partnership's main value lies in local market penetration and community engagement rather than material financial returns. For investors, this represents a standard marketing initiative that shouldn't significantly impact the stock's performance or the company's financial metrics.

Agreement Includes Entitlement Of Spectrum Center Theater Box

CHARLOTTE, N.C., Dec. 11, 2024 /PRNewswire/ -- Hornets Sports & Entertainment (HSE) and First Horizon Bank (NYSE: FHN) today announced a multiyear partnership under which the Memphis-based bank becomes a Proud Partner of the Charlotte Hornets. Under the agreement, First Horizon Bank becomes the entitlement sponsor of the Theater Box located on the Suite Level of Spectrum Center among other in-arena branding, digital media and community engagement components.

"We are pleased to add First Horizon Bank to our roster of partners," said Hornets Sports & Entertainment President of Business Operations Shelly Cayette-Weston. "This is particularly exciting for us as the First Horizon Bank Theater Box is one of our most unique premium products within Spectrum Center, recently introduced as part of the first phase of our arena renovations. There's also a community engagement component to the partnership, so we look forward to positively impacting our fans and community members for years to come."

Along with the entitlement of the Theater Box, First Horizon will also receive naming rights to the arena's private Trade and Caldwell Entrance and serve as the presenting sponsor for the team's "Bee-Ball for All" youth initiative. The bank will also be featured through various types of in-arena branding, and a dedicated alcove on the Uptown Concourse.

"We are thrilled to partner with the Charlotte Hornets, an organization that shares our ongoing commitment to the greater Charlotte community," said First Horizon Market President John Forgan. "With First Horizon Bank's Charlotte office just a quick drive from Spectrum Center, we're especially proud and excited to get involved with Buzz City. We look forward to Hornets fans and Spectrum Center guests getting to know more about First Horizon Bank in the months and years to come."

To tip off the partnership, executives from First Horizon Bank, Spectrum Center and HSE are planning a ribbon-cutting celebration for the First Horizon Bank Theater Box in early 2025.

-hornets.com-

About Hornets Sports & Entertainment
Hornets Sports & Entertainment owns the Charlotte Hornets and the Greensboro Swarm (NBA G League) and operates Spectrum Center, the premier destination for sports and entertainment in the Carolinas. The first major professional sports franchise in the Carolinas, the Charlotte Hornets celebrated the 35^th Anniversary of their inaugural season during the 2023-24 NBA campaign. HSE creates spectacular fun and memories that marvel for the more than 1.2 million people who visit Spectrum Center annually, and positively impacts the Carolinas through community programming and the Charlotte Hornets Foundation. For more information, please visit hornets.com, gsoswarm.com or spectrumcentercharlotte.com.

About First Horizon Corp.
First Horizon Corp. (NYSE: FHN), with $82.6 billion in assets as of September 30, 2024, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

 

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SOURCE First Horizon Bank

FAQ

What are the key components of First Horizon's (FHN) partnership with Charlotte Hornets?

The partnership includes Theater Box entitlement at Spectrum Center, naming rights to the Trade and Caldwell Entrance, presenting sponsorship of 'Bee-Ball for All' youth initiative, and various in-arena branding opportunities.

When will First Horizon Bank (FHN) officially launch its Theater Box at Spectrum Center?

A ribbon-cutting celebration for the First Horizon Bank Theater Box is planned for early 2025.

What is First Horizon Bank's (FHN) current asset value as mentioned in the partnership announcement?

First Horizon Bank has $82.6 billion in assets as of September 30, 2024.

How many states does First Horizon Bank (FHN) currently operate in?

First Horizon Bank operates in 12 states across the southern United States.