Republic Bank & Trust acquires Tennessee
Commerce Bank, expands into Nashville

Republic Bancorp, Inc, has expanded into the Nashville, Tenn., market by acquiring substantially all of the deposits and select assets of Tennessee Commerce Bank of Franklin, Tenn., from the Federal Deposit Insurance Corporation.

In addition to assuming approximately $1 billion of the deposits of TCB (both insured and uninsured), RB&T purchased approximately $122 million of loans and other real estate owned for $65 million.

This transaction is expected to be immediately accretive to Republic’s net income, diluted earnings per common share and book value per common share. Upon completion of the acquisition, RB&T will continue to be “well capitalized” under applicable bank regulatory standards and will require no additional capital to complete this transaction.

TCB’s only office will continue to operate under its current name as a division of RB&T. TCB clients should continue to conduct their banking as they have in the past. RB&T will soon be providing additional information to TCB clients about this transaction. TCB client deposits are now backed by the financial strength and security of RB&T and will continue to be insured by the FDIC to the fullest extent provided by law.

If clients of TCB have any questions regarding their accounts involved in this transaction, they should visit www.tncommercebank.com or www.fdic.gov, or contact their customer service representatives at TCB.