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 […]

Tennessee Commerce Bank Fails – First Billion Dollar Bank Failure Of 2012

Tennessee Commerce Bank, Franklin, TN, with $1.2 billion dollars in assets, was closed today by state regulators.  The failure of Tennessee Commerce is the largest banking failure of the new year and comes in a state that is a stranger to bank failures.  Prior to today, the last banking failure in Tennessee was on November […]