Republic Bank & Trust Company, Louisville, Kentucky, Assumes All of the Deposits of Tennessee Commerce Bank, Franklin, Tennessee
Press Release Republic Bank & Trust Company, Louisville, Kentucky, Assumes All of the Deposits of Tennessee Commerce Bank, Franklin, Tennessee FOR IMMEDIATE RELEASE January 27, 2012 Media Contact: Greg Hernandez (202) 898-6984 Cell: (202) 340-4922 Email: ghernandez@fdic.gov Tennessee Commerce Bank, Franklin, Tennessee, was closed today by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Republic Bank & Trust Company, Louisville, Kentucky, to assume all of the deposits of Tennessee Commerce Bank. The sole branch of Tennessee Commerce Bank will reopen on Monday as a branch of Republic…(read more)
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