CapitalMark Reports First Quarter Profit
Chattanooga, TN - April 14, 2009 - Chattanooga-based CapitalMark Bank & Trust reported first quarter, 2009, profits of $119,000 compared to a $640,000 loss for the same period last year. Total assets increased in the first quarter 6% to $357.1 million, loans grew 7.2% to $295 million and deposits jumped 7.4% to $305.1 million. CapitalMark continues to be one of the fastest growing start-up banks opened in 2007, currently ranked 5th in the nation.
"Getting to this point has been very rewarding and could not have happened without the dedication and hard work of an outstanding group of employees and directors," said R. Craig Holley, CapitalMark’s 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."
Mr. Holley also announced that CapitalMark’s stock offering has been extended for the general public. The offering consists of a maximum of 3,000,000 shares of common stock at a purchase price of $10.00. He stated, "The additional capital will be used to further invest in our unique business model and will allow us to capitalize on the opportunities surfacing in the markets we serve."
About CapitalMark Bank & Trust
CapitalMark Bank & Trust offers a wide range of banking services to businesses and individuals. Founded March 5, 2007, CapitalMark has locations in Chattanooga and Knoxville. Additional information about CapitalMark and its full line of products and services can be found at www.capitalmark.com.