CapitalMark increases net income 104%
Apr 27, 2014 | 338 views | 0 0 comments | 3 3 recommendations | email to a friend | print
Chattanooga — CapitalMark Bank & Trust has reported earnings for the first quarter ended March 31. Net income for the quarter was $1.7 million, which doubled from the first quarter of 2013. Net income per fully diluted common share also doubled from the same period last year to $0.21.

“CapitalMark had another quarter of strong results fueled by exceptional loan growth of 31.4 percent year-over-year. With a record $883 million in total assets, we continue to build core earnings capacity and an operating profile that positions CapitalMark to become a $1 billion bank,” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.

First quarter highlights:

- Net Income was $1.7 million for the first quarter 2014, increasing 103.7 percent year-over-year.

- Net Income per fully diluted common share was $0.21 for the quarter representing a 110.0 percent increase year-over-year.

- Loans increased $148 million over the same period last year totaling $620 million at quarter end.

- Deposits increased to $751 million, or 10.2 percent year-over-year.

- Non-interest bearing deposits grew 44.3 percent year-over-year and comprise 16.8 percent of total deposits.

- Total Assets grew to $883 million, or 11.8 percent over the first quarter 2013.

- Total Operating Revenue grew $1.17 million or 16.4 percent year-over-year.

- Tier 1 Leverage Ratio was 10.44 percent.

- Non-interest expense decreased 1.1 percent when compared to the fourth quarter 2013.

- Ratio of Past Due Loans > 30 Days to Total Loans was 0.25 percent.

CapitalMark Bank & Trust is a full-service commercial bank with four private client offices throughout East Tennessee including Chattanooga, Cleveland, Knoxville and Oak Ridge.

CapitalMark’s Banker Teams serve the needs of privately owned businesses, their owners and managers, as well as professionals, executives and their families. Services offered include mortgage and trust and wealth management.

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capitalmark.com.