Four Banks Fail – FDIC Losses Approach $1 Billion On YTD Bank Closings

Regulators closed four banks in Tennessee, Minnesota and Florida, bringing the total for the year to seven. Tennessee, with two bank closings, had previously not had a single bank failure since 2002.  The combined assets of the two failed banks in Tennessee totaled $1.5 billion.  Tennessee Commerce Bank of Franklin, TN, became the first billion […]

BankEast, Knoxville, TN, Closed By Regulators

Until today, the State of Tennessee, had seemed isolated from the banking crisis.  For almost a decade, there were no banking failures in Tennessee, with the last one occurring on November 8, 2002. Tennessee’s luck came to an abrupt halt today with the closing of two banks – Tennessee Commerce Bank of Franklin, TN and […]