Chattanooga
423 756 7878

Cleveland
423 478 6540

Knoxville
865 329 3500

Oak Ridge
865 481 7800

Hours of Operation
Monday – Friday
8:30 am – 5:00 pm  

 

CapitalMark Reports $1.5MM Quarter Profit

Chattanooga, Tennessee – July 23, 2013 – CapitalMark Bank & Trust today reported earnings of $1.5 million for the second quarter ended June 30, 2013.
 
“We’re pleased to report 18 consecutive quarters of positive earnings despite heightened regulatory pressures and a slow growth economy. CapitalMark delivered strong quarterly revenue and gross loan growth, ultimately bolstering our core earnings capacity and increasing the long-term value of the company.” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.
 
SECOND QUARTER HIGHLIGHTS:
 
·  Gross Loans increased $116 million to $518 million, or 28.7% over the same period last year.
·  Deposits increased $26 million to $669 million, a 4.0% increase year-over-year.
·  Total Assets grew to $775 million, or 4.7% over the second quarter 2012.
·  Increase in Operating Income Net of Loan Provision $1.2 million, representing an 8.3% growth year-over-year.
·  Net Income was $2.4 million for the six months ended June 30, 2013.
·  Tier 1 Leverage Ratio was 10.86%.
·  Net Charge-offs to Average Loans was 0.42%.
·  No Loans Past Due Greater Than 30 Days.
·  Non-Performing Assets to Total Assets Ratio decreased to 0.72% from 0.74% in the prior quarter.
 

Holley continued, “CapitalMark is primed for future growth as we continue to operate well above the regulatory capital requirements. Our newest full-service offices, located in Cleveland and Oak Ridge, and two additional Banker Teams added in the first quarter of 2013 position CapitalMark for continued growth as they remain focused delivering CapitalMark’s unique and efficient banking model to clients in their respective markets.”

About CapitalMark Bank & Trust:

CapitalMark Bank & Trust is a full-service commercial bank with four private client offices throughout East Tennessee to include Chattanooga, Cleveland, Knoxville and Oak Ridge. CapitalMark’s Banker Teams serve the needs of privately owned businesses, their owners and managers, as well as professionals, executives and their families. Services offered include mortgage and trust and wealth management. For more information, please visit: capitalmark.com.
 
 

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