Mountain Commerce Bank announces continued solid earnings for second quarter 2012
JOHNSON CITY, TN—July 23, 2012— Mountain Commerce Bank (MCB) announced second quarter year-to-date net income of $1,279,000.
Bill Edwards, President and CEO stated, “Operating results through June reflect our commitment to enhanced operational efficiency, and an improving economy and real estate market. I am pleased with our increasing momentum and results that our team has been able to accomplish.”
MCB’s earnings for the second quarter of 2012 was $579,000. Net interest margin remained strong averaging 4.33% for the quarter. Operating expenses continue to be reduced as reflected in a $687,000 decrease from the same quarter last year. Noninterest-bearing deposits increased $7.2 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 June 2012, MCB had $306 million in Total Assets and $270 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.