Bank failure · TN

Commerce FSB (Knoxville, TN) — failed August 26, 1988

Commerce FSB of Knoxville, Tennessee was closed on August 26, 1988 and resolved through a a/a. Security Trust Fs&la (TN) took over its insured deposits. At failure it held $40.1M in assets and $50.8M in deposits. The FDIC's estimated loss on the failure is $21.2M (52.9% of assets).