Mountain Commerce Bank announces solid earnings for second quarter 2014
JOHNSON CITY, TN—August 7, 2014—Mountain Commerce Bank (MCB) announced year-to-date net income of $865,000.
Bill Edwards, President and CEO stated, ”I am pleased to see that clients choose MCB as their trusted financial advisor as we begin to see economic improvement. We are also excited to have started construction on our new financial center located in Knoxville.”
Assets as of June 30th were $401 million, an increase of $90 million from the same period last year. Total Loans have increased by $49 million. Net interest margin remained strong averaging 3.87% for the quarter; 3.99% year-to-date. Non-interest-bearing deposits as of June 30th increased $12.4 million from the same period last year. Since the beginning of the year, checking and savings accounts have increased by $8.5 million and $50.8 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 June 2014, MCB had $401 million in Total Assets and $352 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.