Tennessee Banks that have partaken in the TARP buffet bailout
January 25, 2009 by Truman Bean
Filed under Taxes
Michael Silence brings forth the bailout fund Tennessee Takers……
TN banks getting bailout funds
Who has gotten financial bailout (TARP) money so far
First Horizon National Corporation Memphis TN $866,540,000
Pinnacle Financial Partners, Inc. Nashville TN $95,000,000
Tennessee Commerce Bancorp, Inc. Franklin TN $30,000,000
Green Bankshares, Inc. Greeneville TN $72,278,000
Magna Bank Memphis TN $13,795,000
Tennessee Valley Financial Holdings, Inc. Oak Ridge TN $3,000,000
First Security Group, Inc. Chattanooga TN $33,000,000RELATED: The parent company of First Tennessee bank said government cash helped it make more than $900 million in new loans during the fourth quarter, even as the bank’s overall loan volume dropped because of a long-term shift in strategy.
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James laVanway on Tue, 3rd Feb 2009 2:30 pm
The sick thing about these TARP funds is the Bank Of Tenn has a policy of “shot all wounded” in regards to Loan modification requests. They do not allow them. Their policy is to take any home back and resell it, maybe at a profit, maybe at a loss. They blame the Bank of New York (trustee) and the BoNY says it is First Horizons parent, Bank of Tennesse that is at fault but, in the end the borrowers are getting the short end of it here in Phoenix. I wish the feds would yank back the funds until First Horizon comes around and teach them that good hard working people are the ones being thrown under the bus. Those of us struggling for a loan modification after a spouse gets laid off doesn’t makes us deadbeats.