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CapitalMark Receives Approval

Chattanooga, TN - May 3, 2006 - R. Craig Holley announced today that he and seven business and community leaders have received notification of regulatory acceptance of their notice of intent to form a Tennessee-Chartered commercial bank from the Commissioner of the Tennessee Department of Financial Institutions.

Holley, an organizer, will serve as president and chief executive officer. He is the former regional president for AmSouth Bank’s southeast Tennessee and north Georgia operations.

“Consolidation in the banking industry and a preference, consistently expressed by customers, for personal service found at community banks that are locally owned and managed, make this the right time for a new Chattanooga bank”, said Holley. “Banking has always been considered a “high touch” business. For some customers, “high touch” means meeting your banker face-to-face. For others it means accessing leading edge technology to accomplish transactions efficiently and effectively. Chattanooga’s newest bank, which will be known as CapitalMark Bank & Trust (in organization), will satisfy both ends of the spectrum.” Holley added, “Until recently, you had to go to the larger financial institutions for the leading edge technology and to the community banks for the face-to-face service. However, today with the continued evolution in technology at more reasonable costs, the community banks can now compete at the same level with the larger institutions.”

Regulatory acceptance of the notice of intent now permits the organizers to begin solicitation of stock subscriptions for charter investors. Highlights of the Offering Circular outline the stock offering of a minimum of 2,000,000 shares and a maximum of 2,500,000 shares of its common stock with a Par Value of $1.00 and offered at a purchase price of $10.00. Charter investors will receive a warrant to purchase one share of the bank’s common stock for each five shares of stock the subscriber purchases in the initial offering. The warrant will allow subscribers to buy 20% more stock in the next three years at the current offering price of $10.00, no matter how high the stock price moves. Holley stated, “We hope and anticipate that our investors will also be our customers, and there will be special consideration given investors that plan to bank with us.”

In addition to Holley, bank organizers include Grady Williams, CPA; Joe Prebul, Prebul Auto Group; Charlie Brock, Foxmark Media President; Harshad Shah , Hamilton Plastics owner; Patsy Hazlewood, BellSouth executive; Candy Kruesi, real estate developer and community volunteer; and Jim Atkinson, Frontier Spinning Mills partner.

“I am very excited about the opportunity Hamilton County holds for a new bank” said Grady Williams. “So many of our citizens simply prefer the personal service and local orientation that CapitalMark Bank & Trust (in organization) will provide.” Candy Kruesi added, “Customers want to believe that their bank cares about their needs. The best way to convince them of this is to give them access to the best bankers, the best products and the best technology as conveniently as possible, consistently. We are building the banking team to do just that.”

Jim Vavalides has joined the bank as Chief Credit and Banking Services Executive and Barry Rich will serve as Chief Financial Officer and Operations Executive. Vavalides most recently worked for BB&T handling both direct client management and internal team leadership responsibilities for their east Tennessee operation. Prior to BB&T, he served as Commercial Division Manager and Chief Credit Officer for SunTrust Bank’s Chattanooga bank. Rich is the former West Tennessee Group President for Clayton Bank & Trust and also served as the Chief Financial Officer for Clayton Bancorporation.

About CapitalMark Bank & Trust (in organization)

The organizational office is located at Republic Centre, 633 Chestnut Street, Suite 640. Mailing address is CapitalMark Bank & Trust (in organization), P.O. Box 671, Chattanooga, TN 37401. For additional information, please contact R. Craig Holley at (423) 756-7878.


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