Second Curve Capital Files Form 4 on CompuCredit (CCRT)

Tom Brown's hedge fund firm Second Curve Capital recently filed multiple Form 4's with the SEC regarding transactions in shares of CompuCredit (CCRT). These filings represent indirect ownership and were made by advisory clients of Second Curve. In total, Second Curve reported acquisition of 81,000 shares during the last 10 days of December.

Second Curve acquired their shares through various lots ranging in price from $6.59 to $6.95. Shares of CCRT are currently trading around $6.72. After all purchases were made, they owned 4,260,630 shares of CompuCredit. We noted Second Curve reported transactions in CCRT back in September as well.

Also, in a separately filed Form 4, advisory clients of Second Curve Capital have purchased 29,000 shares of Tennessee Commerce Bancorp (TNCC). The purchases were made in the last three days of December in various lots at prices of $4.84, $4.82, and $4.91. After all was said and done, Second Curve reported owning 1,271,456 shares of TNCC. We detailed Second Curve's recent addition of TNCC shares and this marks a subsequent recent purchase after originally purchasing shares in August.

Per Google Finance, Tennessee Commerce Bancorp is "a bank holding company formed to own the shares of Tennessee Commerce Bank (the Bank). The Bank conducts business from a single location in the Cool Springs commercial area of Franklin. As of December 31, 2009, the Bank had total assets of $1.4 billion. The Bank offers a range of retail and commercial banking services."

CompuCredit is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

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Second Curve Capital Buys More Tennessee Commerce Bancorp (TNCC)

Tom Brown's hedge fund firm Second Curve Capital just filed a Form 4 with the SEC on shares of Tennessee Commerce Bancorp (TNCC). Per a transaction on December 17th, advisory clients of Second Curve purchased 10,000 shares of TNCC at a price of $4.10. After this transaction, Second Curve reported beneficially owning 1,242,456 shares of the company. We originally covered it when Second Curve started a new position in TNCC back in August.

Per Google Finance, Tennessee Commerce Bancorp is "a bank holding company formed to own the shares of Tennessee Commerce Bank (the Bank). The Bank conducts business from a single location in the Cool Springs commercial area of Franklin. As of December 31, 2009, the Bank had total assets of $1.4 billion. The Bank offers a range of retail and commercial banking services."

For other recent activity out of this hedge fund, we saw that Tom Brown almost tripled his stake in Banner Corp (BANR).

Second Curve Starts New Tennessee Commerce Bancorp (TNCC) Position

Tom Brown's hedge fund Second Curve Capital recently disclosed a stake in Tennessee Commerce Bancorp (TNCC). Per a 13G filed with the SEC, Second Curve shows a 5.1% ownership stake in TNCC with 584,221 shares due to portfolio activity on August 5th, 2010. This is a brand new position for the firm as it did not appear in our previous coverage of Second Curve's portfolio. In terms of other activity from Tom Brown's hedge fund, we detailed their increased stake in Western Alliance (WAL) last month.

Taken from Google Finance, Tennessee Commerce Bancorp is "a bank holding company formed to own the shares of Tennessee Commerce Bank (the Bank). The Bank conducts business from a single location in the Cool Springs commercial area of Franklin. As of December 31, 2009, the Bank had total assets of $1.4 billion. The Bank offers a range of retail and commercial banking services".

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