You care for the land and water it;
you enrich it abundantly.
The streams of God are filled with water
to provide the people with grain,
for so you have ordained it.[d]
10 You drench its furrows and level its ridges;
you soften it with showers and bless its crops.
11 You crown the year with your bounty,
and your carts overflow with abundance. – Psalm 65:9-11
The banks have been in the news lately. Large, notable banks have failed. Other banks have been sold for pennies. Large regional banks are losing significant value in the stock market. In Memphis, the First Horizon sale was called off today.
Communities need healthy banks. They facilitate commerce. They connect the community. They provide value for businesses and individuals, are typically active in the community, and, on their best days, fund opportunity.
Memphis is fortunate to have a strong banking legacy. Lots of wealth has been created through local institutions. For situations like First Horizon, many people beyond the C-Suite would have benefited greatly from the TD sale. Whereas retirement or extra giving was within reach, the past several weeks have crimped those plans.
Tonight, Lord, we lift up the local banking industry, that You guide decision making, not just in times of turbulence but at all times. We pray for the local banks to be blessings to the city, to seek ways to enhance our community. Lord, may our banks be service-first institutions and protectors of wealth.
Lord, watch over the employees of First Horizon, Regions, Trustmark, Simmons, Truist, 5/3, First Bank, Pinnacle, Cadence, Guaranty, Renasant, BankPlus, Paragon, Bank3, First Commercial, Chase, Wells Fargo, Chase, Independent, and other banks not mentioned, that they may feel Your peace as they go to work tomorrow. Lord, may the employees of the institutions seek You first, and use their roles in a bank to shine Your light and further Your kingdom.
For First Horizon, though disappointing to some, and a relief to others, may their path forward bear fruit for the kingdom. In Christ’s name, Amen.