Wed
Dec 29 2010
03:25 pm
BankEast enforcement action
By: R. Neal

The Federal Reserve has issued an enforcement action against BankEast of Knoxville finding that the bank is undercapitalized and has failed to submit an acceptable capital restoration plan.

The enforcement action directs the bank to either sell stock or otherwise inject adequate capital or be acquired by another bank, and to suspend payment of dividends and executive bonuses among other things. The bank has 90 days to comply.

The Federal Reserve notice...

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MemphisSlim's picture

You won't see this in KNS, WBIR, or WATE

Submitted by MemphisSlim (not verified) on Wed, 2010/12/29 - 3:33pm.

but rest assured you've got the trial date for Aaron Douglas' DUI arrest and the notification that the downtown Arby's is closing.

Maybe we'll get an in depth report and photo montage from the SuperChamber's ribbon cutting at the 3 minute car wash next month.

This is why our local media has no credibility nor journalistic integrity, they don't report on things that cost the Knoxville business community/local business owners a lot of money.

See if the local rag can figure out who the stockholders are in that bank. It's an interesting group.

michael kaplan's picture

Duncan III seems to have

Submitted by michael kaplan on Wed, 2010/12/29 - 4:47pm.

Duncan III seems to have gotten out just in time.

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