Mountain Commerce Bank announces solid earnings for third quarter 2013
JOHNSON CITY, TN—October 30, 2013— Mountain Commerce Bank (MCB) announced third quarter year-to-date net income of $1,728,000.
Bill Edwards, President and CEO stated, “The Bank’s core earnings continue to grow, bolstered by a strong net interest margin and an ongoing focus on operating costs. The margin reflects our team’s commitment to top-quality service, while the operating costs are positively affected by MCB’s use of smart technology.”
MCB’s earnings for the third quarter of 2013 were $538,000. Net interest margin remained strong averaging 3.98% for the quarter; 4.07% year-to-date. Noninterest-bearing deposits increased $6.6 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 September 30, 2013, MCB had $339 million in Total Assets and $300 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.