CapitalMark reports record earnings
Jan 27, 2013 | 168 views | 0 0 comments | 3 3 recommendations | email to a friend | print
CHATTANOOGA — CapitalMark Bank & Trust today reported record year-end performance with net income of $6.75 million, an increase of 98.53 percent over 2011. For the quarter, net income was $1.30 million, representing an increase of 8.36 percent over the fourth quarter 2011.

“We are pleased to report a strong finish to an exceptional year,” said R. Craig Holley, CapitalMark’s chairman, President and CEO. Holley continued, “Our growth initiatives, fueled by our accomplished Banker Teams spanning four East Tennessee markets, are producing the top-line revenue results that show our unique model is being replicated effectively.”

2012 AND FOURTH

QUARTER HIGHLIGHTS:

Net income for the year reached a record $6.75 million increasing 98.53 percent over 2011.

Net income for the quarter was $1.30 million increasing 8.36 percent year-over-year.

Income from operations increased 56.43 percent over 2011.

Net income per fully diluted common share was $0.16 for the quarter and $0.88 for the year.

Total Assets grew to $781 million, or 17.96 percent year-over-year.

Deposits totaled $673 million, a 17.38 percent increase over 2011 year-end.

Loans increased to $460 million, or 26.63 percent year-over-year.

Efficiency Ratio was 64.74 percent, down from 66.20 percent in 2011.

Tier 1 Leverage Ratio was 10.73 percent.

Net Charge-offs to Average Loans was 0.16 percent.

Ratio of Past Due Loans > 30 Days to Total Loans was 0.39 percent.

Non-Performing Assets to Total Assets Ratio declined to 0.80 percent from 0.90 percent in the prior quarter.

Mr. Holley noted, “We began the new year favorably, as we were recently highlighted in American Banker, a respected industry publication, as one of four banks to watch among the 2007-2008 class of start-up banks. With our growing group of Banker Teams, which are additionally bolstered by Mortgage and Wealth & Trust Services, our core earnings capacity is stronger than ever.”