Mountain Commerce Bank announces record earnings for 2013
JOHNSON CITY, TN— February 4, 2014— Mountain Commerce Bank (MCB) announced year-to-date net income of $6,546,000.
Bill Edwards, President and CEO stated, “As we close out 2013, I am proud of what our Responsive Relationship Banking team has accomplished. Our solid performance positions us well for 2014, and beyond. We continue to maintain a strong net interest margin and enhance our operational efficiency. MCB takes pride in being a dependable and trusted financial advisor.”
MCB’s earnings were $4,818,000 for fourth quarter of 2013. Net interest margin remained strong, averaging 3.94% for the quarter. Operating expenses continue to be reduced as reflected in a $321,000 decrease from the previous year. Noninterest-bearing deposits increased $4.3 million over the same period last year.
About Mountain Commerce Bank:
Mountain Commerce Bank (MCB) is a state-chartered, FDIC-insured, privately held financial services institution serving Knoxville, Johnson City, and Unicoi County. Through Hometown Service and Smart Technology, MCB offers big bank technology, products and services, with the personal attention and exceptional service of a hometown community bank.
At the end of December 2013, MCB had $324 million in Total Assets and $280 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.