The FDIC Office of Inspector General (OIG) contracted with KPMG LLP (KPMG) to
conduct a material loss review (MLR) of the Tennessee Commerce Bank (TCB or the
bank), Franklin, Tennessee. This performance audit report details the results of our
review. The objectives of this performance audit were to (1) determine the causes of
TCB’s failure and the resulting material loss to the Deposit Insurance Fund (DIF) and
(2) evaluate the FDIC’s supervision of TCB, including the FDIC’s implementation of the
Prompt Corrective Action (