The Federal Deposit Insurance Corp. has filed a lawsuit against an executive at Renasant (RNST) in an effort to recoup money from a defaulted loan from the defunct Tennessee Commerce Bank.

The lawsuit, filed in District Court for the Middle District of Tennessee, claims that Harrison Crabtree, a senior vice president at Renasant, obtained a loan in March 2006 from Citizen Corp., which was run by his brother-in-law, Ed Lowery. The FDIC claims that, about 10 months later, Citizen sold the loan to Tennessee Commerce. The lawsuit was first reported by the Nashville Business Journal.

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