Mountain Commerce Bank announces continued solid earnings for fourth quarter 2012
JOHNSON CITY, TN— January 29, 2013— Mountain Commerce Bank (MCB) announced fourth quarter year-to-date net income of $2,051,000.
Bill Edwards, President and CEO stated, “Operating results through December reflect continued operational efficiency. I am pleased with our increasing momentum and the financial results that our team has been able to accomplish. Our solid operating performance for 2012 positions us well for 2013. We pride ourselves on being a stable and dependable partner for our clients.”
MCB’s earnings were $234,000 for the fourth quarter of 2012. Net interest margin remained strong, averaging 4.12% for the quarter. Operating expenses continue to be reduced as reflected in a $623,000 decrease from the same quarter last year. Non-interest-bearing deposits increased $3.2 million over the same period last year.
About Mountain Commerce Bank: Mountain Commerce Bank (MCB) is a state-chartered, FDIC-insured, century-old, privately held financial services institution serving Knoxville, Johnson City, and Unicoi County. Through Hometown Service and Smart Technology, MCB offers big-bank products and services, with the personal attention and exceptional service of a hometown community bank.
At the end of December 2012, MCB had $306.6 million in total assets and $269 million in total deposits. MCB currently employs more than 60 individuals at five branches and one operations office. For more information, visit us at www.mcb.com or check your account any time at 1-866-MCB-1910. MCB is an equal opportunity employer.
