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CapitalMark Bank & Trust Reports Record Earnings for 2010

Chattanooga, TN –  January 27, 2011 CapitalMark Bank & Trust today reported earnings for the fourth quarter and year ended December 31, 2010.

2010 AND FOURTH QUARTER HIGHLIGHTS:

- Net income for 2010 was $3,131,888 compared to $ 2,673,784 for 2009, a 17.13% increase.

- Total assets increased to $464 million, which represents an 18.55% increase year-over-year.

- Deposits increased 20.96% in 2010, closing the year at $406 million.

- Loans ended the year at $328.4 million, a 4.18% increase over 2009.

- Net income for the quarter was $1,042,713, up from $898,187 recorded in the fourth quarter of 2009.

R. Craig Holley, CapitalMark’s Chairman, President and CEO, stated: “We are proud to report positive results in spite the many headwinds, which include a tough economy, historic regulatory changes and the resultant cost pressures and declining loan demand. We are particularly pleased with our relationship deposits, or core funding growth, which increased over $78 million during 2010. All asset quality metrics continue to compare favorably to industry averages. Net charge-offs, as a percentage of total loans, were .14%, and we ended the year with only $155,830 in loans past due greater than 30 days. Capital ratios remain significantly above those for well-capitalized banks under applicable regulatory guidelines." Lastly, Holley noted, "This quarter, CapitalMark achieved cumulative profitability, and we remain a top performing bank nationally from a field of over 170 banks launched in 2007."

About CapitalMark Bank & Trust

CapitalMark Bank & Trust offers a wide range of banking and trust 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.


 

 

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