Tennessee Commerce losses as expected

By Geert De Lombaerde Posted on April 29, 2009 at 7:41 am

A much larger loan loss provision resulted in the Franklin-based bank losing $2.6 million in the first quarter versus a $1.4 million profit in early 2008. The company (Ticker: TNCC) had warned of the red ink early this month.

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Tags: banking, earnings reports, earnings warnings, Franklin, loan losses, Tennessee Commerce Bancorp Inc.  

No raises for Tennessee Commerce brass

By Geert De Lombaerde Posted on April 20, 2009 at 10:10 pm

As with a number of their peers these days, Tennessee Commerce’s directors have decided to hold steady on pay this year. Search for ‘base salary for 2009′ to see the numbers, then scroll down a bit to see that, based on their first-quarter warning, CEO Art Helf and his crew will have to make more than $1.80 per diluted share (Ticker: TNCC) to make their bonus earnings target for ‘09. In all of 2008, the bank earned $1.60.

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Tags: Arthur F. Helf, banking, earnings warnings, executive compensation, Tennessee Commerce Bancorp Inc.  

Bad loans bite GreenBank

By Geert De Lombaerde Posted on December 30, 2008 at 9:18 pm

Green Bankshares, one of the state’s largest banking companies, says the housing market slump will add about $25 million to its bad-loan pool and help push it into the red for the quarter. The company (Ticker: GRNB) recently snagged $72 million in TARP money.

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Tags: banking, earnings warnings, Green Bankshares Inc., housing market, residential real estate, TARP