Tennessee Commerce Bancorp, Inc (fka TNCC)

[sterlingkuning]

1.2m market cap, 12 million shares, buyout possibliity
TNCC

In its earnings release, the company said that as of its Sept. 30 call report, which it turned in yesterday, Tennessee Commerce is considered “critically undercapitalized,” which is the lowest category under the Prompt Corrective Action section of the Federal Deposit Insurance Act.
Under that classification, regulators can place a bank into conservatorship or receivership within 90 days, unless it raises capital, merges with another institution or the FDIC approves “other action,” the bank said in its release. Observers believe the bank’s options are limited to finding a buyer, given the difficulty of raising capital.

http://www.bizjournals.com/nashville/news/2011/11/01/tennessee-commerce-bank-regulators.html