FSG Bank Gets Out From Under Regulatory Enforcement Action

Tuesday, March 11, 2014

FSG Bank announced Tuesday afternoon the Chattanooga-based bank has made improvements so that it is no longer under federal oversight.

Officials said, "The Office of the Comptroller of the Currency has provided written notification of the termination of the consent order with FSG Bank."

Larry Mauldin, chairman of the board of directors, said, “Since 2012, our board and management team's primary goal was to effect the transformation of FSG Bank into a premier community bank in East Tennessee.

“Accomplishing this goal required three distinct tasks: raising capital, resolving the asset quality problems, and satisfying the bank’s consent order. Today’s announcement establishes management’s successful execution of all three tasks.

"With the termination of the consent order, FSG Bank is now considered 'well-capitalized' under the FDIC’s prompt corrective action provisions. This designation provides FSG Bank with opportunities for enhanced operational efficiencies, including within its liquidity management, mortgage operations and SBA lending operations.“

Michael Kramer, president and chief operating officer, said, "We have appreciated working with the OCC to resolve the issues identified in the consent order. The lifting of the order removes significant operational and financial constraints while enhancing our ability to execute our strategic plan.We can now direct more of our time and energy toward returning to core profitability and building long-term shareholder value.”



Travis Caslin, 42, Shot While Walking Along South Willow Street

Chattanooga Police said a man was shot on Friday night while walking along South Willow Street.   The victim was identified as Travis Caslin, 42.   At 7:37 p.m., Chattanooga Police officers were called to a local hospital after a person showed up with a gunshot wound.   Police were informed that the victim's condition was non-life threatening. ... (click for more)

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: AILEY, SLATON R  1130 DARTMOUTH ST CHATTANOOGA, 37405  Age at Arrest: 27 years old Arresting Agency: Chattanooga DRIVING UNDER THE INFLUENCE --- ANDERSON, EDWARD ANTONIO  2507 CURTIS ST CHATTANOOGA, 37406  Age at Arrest: 25 years old Arresting Agency: Chattanooga DOMESTIC ASSAULT ... (click for more)

October Is Breast Cancer Awareness Month: Myth And Fact Check

My husband and I recently had the privilege of participating in the American Cancer Society’s Making Strides Against Breast Cancer Walk in Chattanooga. I listened as my husband told the audience about how his mother was diagnosed with breast cancer when he was nine and how she died from the disease when he was fourteen. As a child, my husband didn’t understand what breast cancer ... (click for more)

Roy Exum: The Saturday Funnies

Bill Pennington, a sports writer for the New York Times, was lamenting the “huddle” is slowly disappearing in football due to the faster pace of the game and, during his search for more information, he called former Washington Redskins quarterback Joe Theismann. Bill wrote that Joe couldn’t stop laughing about the funny things that would happen between plays. Joe told this story: ... (click for more)

John Gilpin Dominates Signal Mountain Pie Run

You can almost be guaranteed of one thing when John Gilpin approaches the starting line of a road race. Chances are better than average that the former Chattanooga Moc track and cross country standout is going to win. Such was the case at the annual Signal Mountain Pie Run Saturday morning as the 25-year-old Nashville resident covered a hilly and challenging 10K course in ... (click for more)

Bears Rout William Blount To Set Up Title Showdown With Maryville

Bradley Central didn’t succumb to a look-ahead scenario Friday night. The Bears exploded for 41 first-half points behind strong efforts by wide receiver Nick Howell and quarterback Dylan Standifer and routed visiting William Blount, 51-27, at Bear Stadium in a Region 2-6A football game. Howell scored five touchdowns, three on runs of 1, 31 and 13 yards and snagged two ... (click for more)