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 […]
Four Banks Fail – FDIC Losses Approach $1 Billion On YTD Bank Closings
January 28, 2012 By Leave a Comment
BankEast, Knoxville, TN, Closed By Regulators
January 27, 2012 By 1 Comment
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 […]