Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Wonder what is up with the pps this week
Me too! I was going ding ding ding ding in my head!
It kept jumping from .01 to 13.20 (+131800%) and my portfolio was showing the profit!
LOL it was fun while it lasted
Are you said the amount is $13.20 cent? Oh boy I thought I hitting the jackpot LOL))))
And back to .01 :( exciting for a second though! My portfolio looked really nice
Etrade showing last price 13.20? Buy out??
maxdou, my broker is TD Ameritrade. I called them and ask why they could mess that up but I guess they decided it's pretty obvious that it is an error. For a few minutes, I was rich lol
I think that something is likely Tom happen like a transfer of stocks
They don't have the right to do that, you sold it at $2 tha's the price shown...
they can't go back on that.
who's your broker?
I tried to sell some of my shares at 2 cents and I guess somebody accidentally bought it at $2. They caught it and fixed the price saying that it was an erroneous order.
Good question, my l2 doesnt work for the grey market.
Why did the stock jump to $2 this morning?
Are TNCC still in business? We just have to wait until they respond with update News.
It does taste sour....
Tennessee Commerce buyer ships batch of loans back to FDIC
Kentucky bank targets profitability for local operation by 2014
Published April 13, 2012 by Geert De Lombaerde
The Louisville-based bank that acquired some of Tennessee Commerce’s assets and liabilities says it has sold back to federal regulators a fifth of the loans it picked up in January.
In a filing with the Securities and Exchange Commission, Republic Bancorp officials also say they expect to have their former Tennessee Commerce division return to profitability in about two years.
Republic, which has more than $3 billion in assets, in January snapped up about $120 million in loans and other real estate at a 47 percent discount. The purchase accounted for only a fraction of troubled Tennessee Commerce’s assets and it appears even that slice of the pie is beginning to taste sour. Republic has since sold to the Federal Deposit Insurance Corp. about $20 million of those loans for $17 million. In addition, Republic’s filing details that the impaired Tennessee Commerce loans on its books are twice the size of its performing assets.
Also in Republic’s filing are the following details:
• Depositors have pulled out about 85 percent of the $947 million in deposits Republic took on in January. Officials say the bulk of those withdrawals were made after they re-priced the deposits to market rates in the week after the acquisition. “This re-pricing triggered time and brokered deposit run-off in-line with management’s expectations,” the filing reads. Middle Tennessee deposits now account for about 7 percent of Republic’s total.
• The company has set aside $728,000 in bonus payments for former Tennessee Commerce employees and some of its own staff as they work toward converting Tennessee Commerce’s systems by July. Following that switch, Republic execs say they think the former Tennessee Commerce operations “will begin to positive impact [...] consolidated results of operation.”
http://nashvillepost.com/news/2012/4/13/tennessee_commerce_buyer_ships_batch_of_loans_back_to_fdic
Wonder whats up here
I've been going over this in my mind and leaves more questions.
From what i gathered is they are listing TNCC as Tennessee Commerce Bank not TCB....
Question: did Republic Bancorp buy the stock options of Tennessee Commerce Bank?.
http://www.bizjournals.com/profiles/company/us/tn/franklin/tennessee_commerce_bank/2000491/
hearing any thing?
I sell my 2710 share at 2 cent i turn the page
I will continue to look and see if i find something. in the meantime, i wish they would upgrade us out of the gray market since we already know it will continue to trade. To get out of the gray market, we need a financial statement.
Ok sorry for you but i you have news of the co plz write on the board i have search but i find nothing
Not as of yet, but still searching.
I've been tied up with family matters and have been out of the loop for awhile and slowly getting back in the swing of things.
Do you have news of the company???? When he present her q1?????
TN Commerce auction includes jewelry, watches, Bridgestone suite
Brian Reisinger
Staff Reporter - Nashville Business Journal
I wonder how much I could lowball that $18,000 white gold and diamond necklace. What kind of big shots could I meet if I bought seven months of access to a Bridgestone Arena suite? And seriously, who is “David B.,” and what story might his ring tell me about Tennessee Commerce Bank if it could talk?
These are all thoughts that come to mind perusing the auction of collateral seized in Tennessee’s first bank failure since 2002. Handled by Tranzon Auction Resolutions on behalf of the Federal Deposit Insurance Corp., the auction is open through March 20 — so if you’ve got an anniversary coming, move quickly.
In the alternative universe that is a bank failure (think about it, the government literally seized a Franklin company in the name of the public good), the items on auction are similar to pirate’s booty. That’s not to say anyone stole it, but browse for a bit in the gallery to the right and you’ll see what a I mean.
Scores of gold and diamond necklaces, bracelets and rings. Luxury timepieces that have me literally looking at my watch as I type, thinking about what a lowly fashion statement I’m making. A $175 pen holder.
You can view a website for the auction here.
To be sure, there are more important things to consider in this whole situation, and we get at a couple of them in this week’s print edition for full subscribers. For one thing, the bank that bought Tennessee Commerce — Republic Bank & Trust Co. of Louisville — is plotting big moves in our market.
Here’s another: In a feverish round of behind-the-scenes maneuvering, big-ticket borrowers with Tennessee Commerce are searching for banks to pick up their debt. The search, as well as moves by other stakeholders, illustrate the fallout of the bank failure even as the final impact remains unknown.
But honestly, anybody can look through all the frosting — that’s what the kids call it — in this auction and find something of interest, even as a talking point in the break room if you haven’t got the cash or inclination to buy.
But if you do pony up, keep an eye out for personal inscriptions or other unique features. The recipient of David B.’s gold ring may want an inscription that’s a little more personal.
I’ve got it: David Bowie. Nah, couldn’t be.
http://www.bizjournals.com/nashville/blog/2012/03/tn-commerce-auction-includes-jewelry.html
What happens here ???????
News????????
The time is long here when he present her q1 ????????
A person really needs to understand what the Grey Market is and how it operates (or more to the point doesn't operate) before jumping in.
They call it the grey market but NO actual "market" exists...therefore the lowest seller cannot be macthed to the highest bidder because again there is no central marketplace.
Buyers and sellers cannot see one anothers orders so best execution of orders does not happen.
Prepare for completely illogical trades ahead.
If these levels stick for a few weeks this is a nice lotto here. I used to watch this before it was delisted on occasion.
Watch the volume
Is just the guys have buy at 0.02 it normal is not your macd lolll
is this still a going concern or just a lotto ???
~ $TNCC ~ Possibly going long scan results (Daily and Weekly) for for the week of March 1st 2012 - Daily and Weekly views.
Chart results for you to ponder with me.. These are technical scans only, Click next or previous at the top of the page to see my others. Twitter: @MACDgyver ---> TNCC <---
Keyword: MACDscan ----> http://tinyurl.com/MACDscan
Good info to what went wrong. Thanks for posting that
Read this, interesting stuff....
http://www.leasingnews.org/
When Tennessee Commerce Bank, Franklin, Tennessee closed on January 27, 2012 and deposits as well as offices assumed by Republic Bank & Trust Company, Louisville, Kentucky, Tennessee Commerce Bank were seriously overextended, primarily in commercial and industrial loans. The nonconforming loans caused their demise, with charge offs going from $21 million in 2009 to $16.6 million in 2010 and the first nine months of 2011 to $78 million in commercial and industrial loans. It was the end of the bank and the officers who were drawing excellent salaries and bonuses.
There were other problems, but basically they had overextended their geographic boundaries and evidently were involved in loans they should not have even considered. One of them obviously was financing repossessed trucks and other such equipment, working on the charge offs and putting on more loans to pay off the bad loans.(1)
“Eric Raines, a senior ombudsman specialist with the Federal Deposit Insurance Corp., cited the bank’s loan portfolio — full of equipment loans and leases and other types of specialized lending — as the reason for the closure. He said the FDIC’s entire presence, from accountants to investigators, was standard procedure.
“'They ventured into a specialty area of lending ... and that was the source of many of the bank’s problems, “he said. (1)
In the broker and lessor communities, the Tennessee Commerce Bank had a reputation for being "loosey-goosey" and servicing transactions that could not be placed elsewhere. Brokers also worked with sub-brokers, Leasing News was told.
One of the insiders told Leasing News it was a common practice with various of the leasing companies for the bank to sell a non-performing asset to the leasing company using their bank recourse line of credit, then for the leasing company to sell or lease the transaction using a non-recourse loan from the bank to pay off the original recourse line. This was encouraged by the bank, Leasing News was told, on various occasions with several of the lessors.
Jim Doster
Two of the major accounts were American Bank Leasing Corp. founded by Jim Doster in 2001, and BullDog Truck & Equipment Sales, Cumming, Georgia. They specialized in repossessed trucks, had a dealership with a large yard, had four in-house salesmen selling them and leasing them, and leasing brokers were welcome. Most of the sales were for cash, Leasing News was told. The games played by other lessors do not appear to include Bulldog, as the company has an excellent reputation in the leasing industry for being fair and above board, according to many sources.
www.bulldogequipmentsales.com
Doster hired Jeff Schubert in July, 2002, who helped the repossession and remarketing company grow, moving into a top management position.
Jeff Schubert
Then in August 26, 2011 Doster sold his share to Jeff Schubert, who took over as president/CEO. (3)
Earlier this month Schubert told Leasing News he was just winding down the portfolio and was acting as a "broker" for new transactions. The bank was not taking more business. He also said his company was no longer taking leads from broker and sub-broker business.
It now appears there is more to the story.
Steve Trager, Chairman and CEO, Republic Bank, told Leasing News they had only purchase a small part of the liabilities, including loans, and that the FDIC had taken perhaps over $800 million to bid on the open market. A UCC search shows liens on used trucks and equipment (4)
It appears they included Bull Dog Equipment and Sales as well as American Bank Leasing, thier loans and leases, and as important, thier exclusivity in deposing of repossessed trucks and other equipment.
Tennessee Commerce Bank was a major client for the company, this was well established, owning their own buildings as well as their large truck yard. They also handled repossessions form other banks and finance companies.
Doster told Leasing News he saw the problems at Tennessee Commerce Bank coming over a year ago.
“We had aggressively worked on diversifying our client base over the last year so TCB’s failure does affect us short term but will actually be a positive long term development for Bulldog, “ Jim Doster told Leasing News.
who know when it will deposit their next quarterly??
In my opinion, charts on the gray doesn't really matter, but others might disagree. but i look at the company and see if it might have potential in the future.
Gray market has a lot of question marks attached, can it go up in value?...sure, i've seen that happen with Gray stocks before.
The actions today, i believe, are shorts settling at .001, this is common being the last day of the month for most stocks.
I have a question too, this is my first grey. Indictiors look sweet for a run up to .16 (gap fill)
Do charts even matter seeing how it's trading on the greys?
Really wanted some .001s. Did anyone get them?
That will turn some heads :)
How do you like our 1900% gain today lol)))
That's the way i'm looking at it...I'm redoing the ibox slowly by the way....but i'll get there.
Yes we will be trade on pink until the do all the filing. I have no problem with trading on pink eom
I have a question...
After 10 days of filing the form 25, does this stock goes to Pink limited?!.
I consider Gray market a 'Holding' status for most stocks, that is until the disposition is known.
Most stocks die, some shoots way up, and some idol.
The good thing about TNCC is that the holding company has stake in other smaller banks with branches.
It's not like it's a shell.
I hope these guy know what they talking about.
Are you gonna cry today? $ 0.045 ? 0.044 (4400.00%) gain LOL)))))))))))))))
From Financial News network via my ST acct:
Tennessee Commerce Bancorp Looks to Continue to Trade Below its Annual-Low Share Price Today
20 hours 37 minutes ago - Financial News NetwFork Online - 52-week High-Lows via Comtex
Shares of Tennessee Commerce Bancorp (NASDAQ:TNCC) traded at a new 52-week low today of $0.00. Approximately 81,000 shares have changed hands today, as compared to an average 30-day volume of 508,000 shares.
Tennessee Commerce Bancorp Inc. is a bank holding company for Tennessee Commerce Bank. The Bank provides a range of banking services primarily to business accounts. Tennessee Commerce operates in Tennessee and has a loan production office in Alabama.
Tennessee Commerce Bancorp share prices have moved between a 52-week high of $39.30 and the current low of $0.00 and are currently at $0.02 per share. Over the last five market days, the 200-day moving average (MA) has gone down 2.3% while the 50-day MA has declined 88.3%.
Potential upside of 2,150.0% exists for Tennessee Commerce Bancorp, based on a current level of $0.02 and analysts' average consensus price target of $0.45. Tennessee Commerce Bancorp shares should first meet resistance at the 50-day moving average (MA) of $0.10 and find additional resistance at the 200-day MA of $1.43.
Maybe I better pull my sell orders at .16 and wait for .50!!
LOL
In my dream the price is ,50$
Yeahh i dream lolll
Your dream is coming true up 4400% lol
I want to see .16s!!
they are creating bag holders here, it will fall down before you know it, you cant even sell them.
Followers
|
34
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
2485
|
Created
|
08/15/10
|
Type
|
Free
|
Moderators |
Effective on February 8, 2012, the Company's common stock began trading on the Pink Sheets under the symbol "TNCC.PK." Although the Company's common stock is currently traded on the Pink Sheets, there can be no assurance that it will continue to trade on the Pink Sheets for any particular time period. The Pink Sheets is not a registered stock exchange company, and it is not affiliated with NASDAQ.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8428712
Who should I contact at the Company if I have questions about the Company and what is the Company's current address?
The Company has relocated as a result of the closure of the Bank. The new address of the Company is and its current contact person is:
Frank Perez
Chief Financial Officer
Tennessee Commerce Bancorp, Inc.
341 Cool Springs Blvd.
Suite 110
Franklin, TN 37067
investorrelationstncc.com11@ymail.com
Posted on: 2/1/2012
In addition to assuming approximately $1 billion of the deposits of TCB (both insured and uninsured), RB&T purchased approximately $122 million of loans and other real estate owned for $65 million, representing a 47 percent discount. RB&T paid no deposit premium for the deposits. The acquisition is being completed through a purchase and assumption agreement with the FDIC, without loss sharing agreements. RB&T did not acquire any assets or liabilities of TCB's parent holding company, Tennessee Commerce Bancorp, Inc., or any of TCB's stock in Commerce Bancshares, Inc. and Farmers Bancorp, Inc. and their subsidiary banks.
http://www.williamsonherald.com/home?id=78604
Free Level 2 - TheGreenBaron.com
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |