published Tuesday, November 15th, 2011

Investment prevents loss at Green Bankshares

Green Bankshares Inc., the parent company of one of East Tennessee's biggest banks, lost another $9.8 million this summer prior to the investment in the Greeneville, Tenn.-based bank by North American Financial Holdings.

But with the $217 million injection of capital from North American on Sept. 7, Green Bank restored its profits in the rest of the third quarter, earning $930,000 in the last three weeks of September.

North American now holds more than a third of the former Green Bank, which now operates as a part of Capital Bank NA.

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