Tennessee Commerce Bank Rates & Review

Tennessee Commerce Bank

Founded in 2000, TCB provides personal banking, business banking and loans in Franklin and Williamson County, Tenn.

According to its website, Tennessee Commerce Bank opened with 12 employees and $9.3 million in assets. Ten years on, assets exceed $1.3 billion and the bank enjoys top deposit market share in its region.

Business banking

Business customers can choose between a variety of checking account options. Basic Business checking has no monthly fees and no annual fees. This account requires an opening balance of a certain limit and provides free banking by mail, online banking, bill pay, free Visa check card, overdraft protection, free travelers checks / gift checks, safe deposit box with a fee and free courier pickups.

TCB Savings is a business savings account that provides free cashier's check issuance upon request, online and telephone banking access, ATM card and limited free withdrawals.

The bank provides a variety of business loans including working capital, equipment loans, expansion capital, and acquisition financing which can be structured as lines of credit, revolving line of credit, term loans, USDA loans, and SBA loans. The bank also provides foreign currency services.

Personal banking

 Tennessee Commerce Bank offers a variety of personal savings and checking account choices. Basic Personal Checking requires a minimum opening balance and provides unlimited check writing, unlimited deposits, ATM or Debit Card, free first time order of checks, bank by mail envelopes, online banking, bill pay and free telephone banking.

The bank provides CD maturities from 6 months to 36 months as well as retirement products such as Traditional IRAs, Roth IRAs and Savings Bonds. The Investor's Money Fund is a money market account that acts like a variable-rate CD. When the market rates go up, the interest rate on the account goes up.

Loans

The bank offers loan products including conventional loans, adjustable rate loans, non-conforming jumbo loans, interest only loans and FHA/VA government loans.

Deposit insurance

Tennessee Commerce Bank has been insured by the Federal Deposit Insurance Corporation since the bank's opening in 2000.

In July 2010, FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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