Tennessee

When state and federal regulators closed Trust Company Bank in Memphis, Tenn., on Friday, it was only the second U.S. bank failure this year.

Simmons First National in Pine Bluff, Ark., plans to close 10 banks across four states by the end of the second quarter: three branches in Arkansas, four in the Missouri and Kansas region and three in Tennessee.

Sometimes boards have to police their own, as an insider-trading case involving a Pinnacle Financial director shows. The risks are especially high when banks enter confidential merger talks.

Sequatchie Valley Bancshares in Dunlap, Tenn., has agreed to buy Franklin County United Bancshares in Decherd, Tenn.

First Horizon National in Memphis, Tenn., reported improved quarterly earnings that reflected higher revenue.

Commerce Union Bancshares in Brentwood, Tenn., plans to close mortgage offices in Ohio, Illinois and Kentucky and to transfer the employees to Bridgeview Bank Group in Bridgeview, Ill.

Franklin Financial Network in Franklin, Tenn., plans a debt issuance to pay for its recently completed exit from the Small Business Lending Fund and to fund other activities.

The Federal Reserve recently announced that it had released five community banks from enforcement actions.

Mountain Commerce Bancorp in Knoxville, Tenn., has added a former California community bank executive to its board.

Tri-State Bank of Memphis in Tennessee has hired Christine Munson, formerly of First Tennessee Bank, as its chief executive.