TD, First Horizon cancel planned merger

TD of Toronto and First Horizon of Memphis, Tennessee, recently announced that they had mutually agreed to terminate their previously announced merger, originally announced in February. TD informed First Horizon it did not have a timetable for regulatory approvals for the merger to be obtained, so the deal was called off.

Bancorp 34 in Scottsdale, Arizona, has agreed to buy CBOA Financial—parent of Commerce Bank of Arizona—in Tucson. The deal is expected to close in the fourth quarter.

M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from