Tennessee Commerce Bancorp Inc. in Franklin said in a Tuesday Securities and Exchange Commission filing that it has fired its chief financial officer, George W. Fort, about two months after putting him on paid leave.
H. Lamar Cox, Tennessee Commerce's chief administrative officer, will remain the acting CFO until a successor is appointed, the $964 million-asset company said in the filing. Mr. Cox was Tennessee Commerce's CFO from January 2000 until August 2005.
Mr. Fort was put on paid leave in March after management and independent auditors found "material weaknesses" with the company's internal controls, which led to a one-month delay in its 2007 annual report.
Tennessee Commerce reported first-quarter earnings of $1.37 million, down slightly from a year earlier. Its shares fell 5 cents Tuesday, to $18.30.
