First Horizon Bank Taps Kevin Farrell as Managing Director of Commercial Real Estate Loan Syndications in Team Expansion

First Horizon Bank has expanded its Loan Syndications team with four new hires, including Kevin Farrell as Managing Director of Commercial Real Estate Loan Syndications, the Memphis-based regional bank announced July 27, 2026.

Farrell, described by the bank as an accomplished real estate banking and syndications professional, most recently led the Loan Syndications team at First National Bank Corporation. In his new role, he will partner with associates across First Horizon Bank to expand coverage, strengthen client engagement, and build on the bank's commercial real estate syndication and distribution capabilities.

Four Hires Across CRE and Commercial & Industrial Syndications

Alongside Farrell, First Horizon Bank named Corey Kistka as Managing Director of Commercial & Industrial Loan Syndications. Kistka brings 29 years of syndicated finance experience, most recently serving as a Managing Director of Loan Syndications at Comerica Bank, where he advised on syndicated financing for public and private companies. In his new role, Kistka will oversee the delivery and execution of complex financing solutions supporting clients' growth and strategic initiatives.

Jack Bratton has joined as a Vice President of Loan Syndications, and Austin Eskew has joined as a Loan Syndications Associate. The bank said both Bratton and Eskew bring expertise that will support its growing capabilities across the Commercial Real Estate and Commercial and Industrial Loan Syndications segments.

"We are excited to welcome Kevin, Corey, Jack and Austin to our Loan Syndications group. Their deep expertise and proven track record will be instrumental as we continue to expand our capabilities and deliver innovative financing solutions to our clients," said Olu Jegede, Group Head of Corporate & Specialty Finance for First Horizon Bank. "By investing in top-tier talent, First Horizon Bank strengthens its commitment to supporting our clients' evolving needs and driving sustainable growth for the business. These strategic hires reinforce our dedication to building a best-in-class platform that positions us as a trusted partner for clients navigating complex capital markets opportunities."

Expansion Comes as CRE Capital Markets Recover

The hirings arrive as commercial real estate capital markets show signs of recovery after a prolonged slowdown. U.S. commercial real estate investment volume is forecast to increase approximately 16% in 2026 to roughly $562 billion, approaching pre-pandemic annual averages. Fourth-quarter 2025 CRE investment volume rose nearly 29% year-over-year as capital returned to the sector, and Q1 2026 multifamily investment volume reached approximately $30 billion, up 31% year-over-year and roughly in line with 2019 levels.

Office transaction volume, while still relatively subdued, posted a roughly 42% year-over-year increase in Q1 2026, its strongest quarter in four years, as sponsors pursue repositionings, mixed-use conversions, and value-add programs that frequently require syndicated term loans, construction financing, and bridge facilities.

Major bank lenders have been actively re-entering CRE, particularly in multifamily and industrial, where fundamentals remain strongest. GSE lending caps rose roughly 20.5% for 2026, and debt market conditions have been characterized as robust for multifamily. Industrial continues to outperform other major sectors, with construction pipelines shrinking across regions, supporting occupancy and rent for existing stock. Retail tenant demand is leading active tenant searches across the majority of tracked U.S. markets.

Larger Syndications Platform Targets Complex, Multi-Bank Credits

With $84.4 billion in assets as of June 30, 2026, First Horizon Bank sits in the upper tier of regional banks by balance sheet size. A reinforced syndications team positions the bank to originate and distribute larger, multi-bank CRE credits as sponsors return to the market seeking acquisition, refinancing, recapitalization, and construction financing.

The current CRE cycle is marked by a shift from loan extensions to active refinancings and recapitalizations. Underwriting has grown more sensitive to rate risk, rollover risk, and capital expenditure requirements, particularly in office and older retail. Joint-venture and capital stack structures are increasingly emphasizing flexibility, with more bespoke waterfalls, earn-outs, and preferred equity layers — conditions that favor lead banks with experienced syndications professionals capable of structuring complexity and placing it with other lenders.

A large wave of new multifamily deliveries — approaching 470,000 units in 2026 and approximately 440,000 in 2027 — is also pressuring rent growth and requiring more nuanced underwriting around lease-up and concessions, creating additional demand for syndicated bank facilities on large ground-up developments and portfolio recapitalizations.

About First Horizon Bank

First Horizon Corp. (NYSE: FHN), with $84.4 billion in assets as of June 30, 2026, is headquartered in Memphis, Tennessee. Its banking subsidiary, First Horizon Bank, operates in 12 states concentrated in the southern United States. 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.