Tennessee Commerce Bancorp, Inc (fka TNCC)

[sterlingkuning]

If the bank gets seized, its over....a big risk after the Dec 2 deadline, so I'd be careful holding over night imo.

Pursuant to the terms of a Supervisory Prompt Corrective Action Directive (the “Directive”) issued on November 2, 2011 by the Federal Deposit Insurance Corporation (the “FDIC”) to Tennessee Commerce Bank (the “Bank”), a wholly-owned subsidiary of Tennessee Commerce Bancorp, Inc. (the “Company”), the Bank was required to increase its capital to a level sufficient to restore the Bank to an “adequately capitalized” status and applicable FDIC regulations by December 2, 2011 or take any necessary action to result in the Bank’s acquisition by another insured depository institution holding company or to merge with another insured depository institution.

The Bank did not regain “adequately capitalized” status by the December 2nd deadline. We continue to work with our financial advisor to assist us in exploring and evaluating every possible strategic alternative that would allow the Bank to comply with the Directive. Nevertheless, the Company may not be able to find a viable alternative, and if no such alternative is found, it is likely that the FDIC will be appointed as a conservator or receiver of the Bank.