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The Federal Deposit Insurance Corp. is looking to ban a former Tennessee banker from the industry following his institution's 2012 failure.
May 30 -
The Federal Deposit Insurance Corp. has filed a lawsuit against an executive at Renasant (RNST) in an effort to recoup money from a defaulted loan from the defunct Tennessee Commerce Bank.
February 12 -
In September, regulators seized the largest institution to be closed in over three years, the $3.1 billion-asset First National Bank in Edinburg, Texas, throwing cold water on the idea that only the smallest banks are vulnerable now to failure.
October 28
Investors in the failed Tennessee Commerce Bank have reached a tentative agreement to resolve a two-year-old class action involving the bank.
The $2.6 million deal would settle claims that the Franklin, Tenn., bank falsified its earnings reports to shareholders before
A hearing on the proposed settlement has been scheduled for March 20, according to online court records.
The November 2012 lawsuit charged the $1 billion-asset Tennessee Commerce with inflating its financial condition, causing its stock to trade at an artificially high level. When the bank revealed its financial troubles, the stock price "reacted negatively, damaging investors," according to the original lawsuit filed in the U.S. District Court for the Middle District of Tennessee.
News of the settlement was reported Thursday by the
The Federal Deposit Insurance Corp.
