Community First out of the regulatory woods

Columbia-based Community First Bank & Trust is, as of Sept. 29, no longer operating under any sort of extra regulatory requirements. The bank, which runs eight offices in Maury, Hickman and Williamson counties, had been under an informal memorandum of understanding with regulators since late last year. As recently as 2012, the bank faced a $15 million capital gap as it tried to bounce back from the real estate bust and meet the stringent extra conditions regulators were demanding.

Said Chairman Eslick Daniel in a statement this week: “The board is excited to be planning our future with a focus on serving our community and shareholders rather than correcting the problems of the past. We appreciate the support our regulators have shown in our efforts to improve the health of the Bank, and believe that the lessons of our past will make us a stronger Bank in the future.”

Oct 9, 2015 11:48 AM

Community South Bank closed down

Community South Bank, which was based in Parsons and ran 14 offices across the state, was closed Friday afternoon by regulators. The $400 million-asset bank is being taken over by Russellville, Ala.-based CB&S Bank., which has assets of $1.3 billion and operates one of its 43 offices in Murfreesboro. Community South rang up a first-half loss of $5.9 million — thanks mainly to bad real estate loans — after finishing 2012 with a $7.3 million loss. CB&S also is buying about a third of its assets. Check out the FDIC's info on the closure here.

Aug 23, 2013 6:21 PM

Pinnacle files to switch charter

CEO Turner cites value of 'close contact with regulatory decision makers'
Jun 26, 2012 6:44 AM

Feds shut down Tennessee Commerce

Kentucky bank buying deposits, some assets of embattled Franklin-based lender
Jan 27, 2012 4:57 PM

TDFI's Tennessee Commerce conditions

It appears to be a little bit academic at this point, but Tennessee Commerce Bancorp executives on Wednesday told investors that it has received a formal agreement from the Tennessee Department of Financial Institutions that outlines a host of capital level, asset management and governance steps it must take to right its ship. Many of the terms and remedies prescribed are the same ones called for earlier this year by the Federal Deposit Insurance Corp.

Nov 3, 2011 7:30 AM

Tennessee Commerce scouting ‘all possible strategic alternatives’

Bank faces receivership in next 90 days without new capital or merger
Nov 1, 2011 1:18 PM

Explanation, warning almost cancel each other out at Tennessee Commerce

Stock gives up more ground after bank clarifies loss provision standoff with regulators, says Q1 would have missed consensus anyway
Apr 19, 2011 11:29 AM

Tennessee Commerce now officially 'in troubled condition'

Regulators want higher loss allowance [Updated with details of bank's extra Q1 provision]
Apr 18, 2011 10:27 AM

Tennessee Commerce shares drop over SEC filing

Bank execs say regulators’ report means they ‘cannot reasonably estimate’ results
Apr 1, 2011 2:11 PM

Banking on Experience

After starting her legal career on the regulatory side, Katie Edge these days is helping many of Tennessee's banks maneuver through tough times
Jan 17, 2011 2:22 PM