Federal Deposit Insurance Corp. regulators in late July barred Art Helf, a co-founder and former chairman and CEO of Tennessee Commerce Bancorp, and Lamar Cox, who was at times chief administrative officer, CFO and COO at the failed bank, from holding any position of authority in a financial business under the agency's purview. Helf, on the left in our photo, and Cox are the second and third former execs of Tennessee Commerce to come under regulatory fire: Earlier this year, the FDIC said it was going after former CEO Mike Sapp for alleged breaches of his fiduciary duty. The orders against Helf and Cox, which were made public late last week, came after both men waived their right to a hearing on the FDIC's charges but neither admitted to nor denied those claims.
Avenue Bank's leaders have named April Britt the institution's first chief people officer, building on the learning manager role she has held since 2011. Britt joined Avenue as Cool Springs branch manager in 2008 and has 15 years of banking experience. In her new role, she is overseeing the bank's recruiting, retention and development initiatives as well as its policy and benefits programs.
SEE ALSO: The recent word that Aaron Dorn was named Avenue's first chief strategy officer and that marketing exec Lisa Meiers moved into a broader engagement role
SNL Financial's Ken McCarthy and Robin Majumdar have tallied up the second-quarter loan growth numbers at the nation's community banks, and the news isn't great for the Southeast. The region ranks last for median commercial loan growth, where it lags the year-over-year national average by 1.7 percentage points, with only residential construction outperforming by a noticeable margin.
Analyst Stephen Scouten at Sandler O'Neill has raised his rating on shares of Pinnacle Financial Partners to 'buy' from 'hold' after the bank holding company reported its second-quarter numbers. The move by Scouten is based on the valuation of Pinnacle, which is off about 10 percent from its recent highs (Ticker: PNFP) but is still up about 15 percent so far in 2014.
Kevin Reynolds at Wunderlich Securities has raised his price target for shares of Pinnacle Financial Partners to $40 from $37 after the bank holding company reported its Q2 numbers. Reynolds says investors shouldn't put too much stock in the earnings beat because of a smaller loan loss provision, but he nonetheless likes Pinnacle's long-term prospects. Pinnacle shares (Ticker: PNFP) closed Thursday trading at $36.05 and are up 11 percent so far in 2014.
At Robert W. Baird, analyst Richard Eastman has hiked his rating on Clarcor shares to 'outperform' from 'neutral,' citing better fundamentals, the benefit of recent acquisitions and a decent valuation. He sees Clarcor (Ticker: CLC), which closed Thursday at $60.46, climbing to $67 in the coming quarters.
Green Hills-based InsBank announced today it has added Patrick Wright as first vice president and relationship manager.
Wright’s responsibilities will include commercial lending and relationship development. Prior to joining InsBank (stylized as INSBANK), he served as senior vice president and area executive for First South Bank in Hilton Head Island, South Carolina. Before that, he was a banking officer for SunTrust Bank in Murfreesboro.
“Patrick has a strong background in working with businesses of all sizes, and he has deep roots in Middle Tennessee. He is a welcomed addition to InsBank,” Jim Rieniets, InsBank president and CEO, said in a release. “His experience will help our bank continue to grow, and we’re confident he’ll only strengthen the reputation we’ve built for providing superior client service and top-notch financial advice to our clients.”
Wright, who is a member of Rotary International, Boys & Girls Clubs and the American Heart Association, earned a bachelor’s degree in finance from Middle Tennessee State University and is a graduate of Tennessee Commercial Banking School at Vanderbilt.
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