Florida Banking December 2024-January 2025

the post-Covid period. For many years China reigned as the world’s growth engine, often accounting for more than 30 percent of global economic growth. This made it the destination for much of the world’s foreign direct investment (FDI), and an equally exceptional stock market. The script has reversed of late. In 2022 and 2023, the U.S. delivered almost half of the world’s global growth, while China in fact detracted from global growth by 0.3 percent. FDI has collapsed to levels last seen in 1993, and the Chinese stock market has advanced a mere 10 percent over the past 5 years, compared to the S&P’s 90 percent increase. While perhaps less stark, these favorable comparisons can be made for the U.S. relative to virtually every other global peer. For example, the U.S. economy has grown at almost twice the rate of the nearest G7 nation in the post-Covid period, prompting the European Union to convene panels to diagnose its lack of competitiveness compared to the U.S. As you consider your clients’ situations, avail yourself of these arrows in your quiver. Share the clear and durable reasons for U.S. exceptionalism. The U.S. is the unchallenged leader in innovation, technology, R&D, management talent and corporate transparency, complemented by deep and liquid capital markets, as well as highly flexible labor supply, and critically, the rule of law and robust regulatory oversight. This is the underlying reason for our country’s outperformance, and drives our continued optimism, even should there

be choppiness ahead. We recommend that portfolio managers remain attuned to revenue and earnings growth and fundamental relative value — the pillars of investing among all good fiduciaries. The Sanibel Captiva Trust Company is an independent trust company with $4.5 billion in assets under management that provides Family Office and Wealth Management Services, including investment management, trust administration and financial counsel to high-net worth individuals, families, businesses, foundations and endowments. Founded in 2001 as a state-chartered, independent trust company, the firm is focused on wealth management services that are absolute-return oriented and performance driven. The Naples Trust Company and The Tampa Bay Trust Company are divisions of The Sanibel Captiva Trust Company. Offices in Sanibel Captiva, Fort Myers, Naples, Marco Island, Tampa, Belleair Bluffs and Tarpon Springs. LEGAL, INVESTMENT AND TAX NOTICE: This information is not intended to be and should not be treated as legal advice, investment advice or tax advice. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal or tax advice from their own counsel. Not FDIC Insured | No Guarantee | May Lose Value

Let’s find a way.

First Horizon Correspondent Services is a leading choice for Florida banks. Benefit from the expertise of a dedicated Relationship Manager who has a deep understanding of Correspondent Banking, to provide you with tailored solutions – from expert advice to quick decisioning for the capital you need. We have a reputation in Florida as a preferred partner for Correspondent Banking.

Melisa Ainley Senior Vice President Correspondent Banking Relationship Manager (M) 901-568-3341 (O) 941-487-3074 maainley@firsthorizon.com

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