CapitalMark Surpasses $100 Million in Assets; Leads all other banks across U.S. opening March, 2007
Chattanooga, TN,--September 17, 2007—Chattanooga-based CapitalMark Bank & Trust has surpassed $100 million in assets after just 6 months of operations.
The growth significantly exceeds original projections and is leading all other financial institutions across the United States that opened in the month of March, 2007. A review of these 11 financial institutions opening in March of this year reveals that CapitalMark, as of June 30, was tracking well ahead of all banks in the key growth categories of total assets and total deposits.
“This achievement is quite impressive when you consider that several of these banks are located in high-growth markets like Florida and California,” said R. Craig Holley, Chairman, President and CEO. “It is obvious from our success that so many of the citizens in our market simply prefer the personal service and local orientation that CapitalMark provides.”
CapitalMark opened March 5 of this year after raising a record $35 million in capital. The bank operates in the space previously occupied by the old Pioneer Bank at 801 Broad Street and a drive-thru location at the corner of Martin Luther King Blvd. and Pine Street. Mr. Holley noted that the bank has submitted an application to regulatory authorities to open an office in Knoxville in late 2007. Jim Vavalides, Senior Executive Vice President and General Banking Head, has relocated to Knoxville and will lead CapitalMark’s Knoxville operations.
“Banking is still a very local, relationship oriented business and knowing your customer is, and always has been, the standard for successful banking.” said Mr. Vavalides. “CapitalMark’s success is driven by our ability to provide superior service, delivered by experienced bankers.”
About CapitalMark Bank & Trust
CapitalMark Bank & Trust offers a wide range of banking services to businesses and individuals. Based in Chattanooga, TN, the bank began operations in March, 2007 and conducts business at 801 Broad Street. The bank’s hours of operation are from 8:30 a.m.- 5:00 p.m., Monday-Friday. Mailing address is P.O. Box 671, Chattanooga, TN, 37401. For additional information, visit www.capitalmark.com or call (423) 756-7878.