TD Bank Group and First Horizon Corporation have mutually agreed to extend the outside date of their proposed transaction from February 27 to May 27, 2023, in accordance with the terms of the merger agreement.

TD and First Horizon are fully committed to the merger and continue to make significant progress in planning for the closing and the integration of the companies. Shareholders of First Horizon have voted overwhelmingly to approve the transaction, and progress is being made on a Community Benefits Plan in support of local communities across the TD and First Horizon footprints in the U.S.

Customary closing conditions, including approvals from regulatory authorities in the U.S. and Canada, are required to close the transaction.