Doyle Rippee has replaced Tony Thompson as Middle Tennessee market president for First Tennessee, according to the company’s president of banking, Charles Burkett.
Rippee has about 30 years of experience in banking and had been recruited about three months ago from Birmingham-based Regions. He also has experience working as Bank of America’s Tennessee president.
Thompson is now the commercial banking manager in Nashville.
Meanwhile, Mike Edwards, formerly Tennessee Banking Group president, has been moved to Memphis to be in charge of the Memphis banking market, reporting directly to Burkett.
“We’re flattening the organization,’’ Burkett said. “It seemed like an opportunity for us to take advantage of Doyle’s years of experience in Nashville and to focus on our Nashville banking customers and use Tony’s skills in commercial banking.”
Memphis-based First Horizon National Corp., the parent company of First Tennessee, has slimmed down and exited much of its operations outside of Tennessee after the real estate market turned sour.
The company now is focused on its home state – Tennessee. It has been adding branches in Middle Tennessee, not shuttering them.
First Horizon lost $123 million during the second quarter, the fifth consecutive loss for the banking company. However, non-performing assets declined during the quarter and executives expect a return to profitability within the next few quarters.
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