The staff of Thomson Reuters has for the second successive year named Maury Regional Medical Center one of the country's top hospitals. The Columbia-based complex scored well in a study of eight quality and efficiency metrics, the results of which were published in the latest issue of Modern Healthcare.
This year we are seeing stronger system-wide performance and increased rates of improvement, particularly among the 15 Top Health Systems award winners. Health system performance is beginning to reflect aspirations to provide more consistent outcomes across communities served," said Jean Chenoweth, senior vice president for performance improvement and 100 Top Hospitals® program at Thomson Reuters. "Health care reform appears to have stimulated the increased rate of improvement at the system level."
SEE ALSO: Maury Regional named to national top 10
Community First Bank & Trust has struck a deal to sell its only Murfreesboro office to six-year-old Southern Community Bank for an undisclosed amount. The deal, which officials expect to close this quarter, will bring some much-needed cash into Community First. Regulators last fall told bank executives they needed to raise almost $18 million by year's end.
The Federal Deposit Insurance Corp. has ordered Columbia-based Community First Bank & Trust to hike its loan loss allowances, raise its capital levels above normally mandated levels, lower its dependence on construction and land development loans and generally tighten up its operations. Community First, which has more than $400 million in assets, lost almost $4 million in the first six months of the year and carried some of the highest nonperforming asset ratios in the region. The FDIC's order says bank managers and directors must make plans for a sale or merger if they cannot meet the new capital requirements.
TriStar Bank out of Dickson and Columbia's Heritage Bank & Trust have signed a merger agreement that would create a $300 million community bank, Brian Reisinger reports. Regulators early this year to Heritage officials to hike their capital levels.
The parent of Columbia-based First Farmers & Merchants Bank posted a full-year profit of $7.2 million in 2010, down about 15 percent from the year before. The bank's loan portfolio shrank 3.2 percent to $549 million during the year, while total assets held steady at about $940 million. The company, which runs 17 offices in six suburban counties, was able to mark a nice milestone during the year: Its trust department now oversees more than $3 billion in assets for the first time.
“We saw a slow local economy with less than robust loan demand throughout 2010, and that makes our continued growth in total assets and deposits last year all the more gratifying,” said T. Randy Stevens, First Farmers Bank chairman and CEO. “The decline in net income was primarily due to extraordinary expenses arising from some real estate loans. Even so, our internal measures of loan safety and soundness continue to compare very favorably with peer banks.”
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