Mountain Commerce Bank announces continued solid earnings for third quarter 2014
JOHNSON CITY, TN—October 24, 2014— Mountain Commerce Bank (MCB) announced year-to-date net income of $1,537,000.
Bill Edwards, President and CEO stated, “Earnings are beginning to pick up, with the increased loan demand we have experienced.”
Assets as of September 30th were $403 million, an increase of $63 million from the same period last year. Total Loans have increased by $50 million. Net interest margin remained strong averaging 3.83% for the quarter; 3.93% year-to-date. Noninterest-bearing deposits as of September 30th increased $4.4 million from the same period last year. Since the beginning of the year, checking and savings accounts have increased by $2.3 million and $58.0 million, respectively.
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 September 2014, MCB had $403 million in Total Assets and $346 million in Total Deposits. MCB currently employs more than 60 individuals at five branches and one operations office. For more information, visit us at HYPERLINK “https://www.mcb.com” www.mcb.com or check your account any time at 1-866-MCB-1910.