I know. It's crazy.
The announcement was made on the TBS website today: http://www.takingbacksunday.com/
I wasn't a huge fan, but they weren't bad when I saw them last year and I'm pretty sure everyone in my generation of music has screamed along with this song at least once. Make damn sure.
*EDIT* Matt Fazzi has now also left the band. What is it with bands breaking up lately?