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CapitalMark Revenue Increases 15% Driven by Strong Loan Growth

Chattanooga, Tennessee October 24, 2013 – CapitalMark Bank & Trust today announced earnings for the third quarter of 2013. The company reported net income of $1.2 million and earnings per diluted share of $0.16. These results reflect year-over-year top-line revenue growth of 15.2% and loan growth of 27.6% when compared to the same period last year.


Chairman, President and Chief Executive Officer R. Craig Holley commented, “This marks another quarter of top-line revenue increases, driven by strong loan growth. Businesses and consumers continue to embrace our unique Banker Team model that offers clients a single-point-of-contact and unparalleled service.”

THIRD QUARTER HIGHLIGHTS:
  • Gross Loans increased to $555 million, a 27.6% increase over the same period last year.
  • Deposits increased to $686 million, a 4.0% increase year-over-year.
  • Non-Interest Bearing Deposits increased 33.1% to $112 million over the same period last year.
  • Total Assets grew to $798 million, or 5.0% over the third quarter 2012.
  • Revenue Growth increased 15.2% over the same nine-month period last year to $22.8 million.
  • Net Interest Margin was 3.81%, an increase of 36 basis points from the third quarter 2012 and 15 basis points linked quarter.
  • Net Interest Income before loan loss provision increased 13.8% year-over-year.
  • Net Income per fully diluted common share was $0.16 for the quarter.
  • Tier 1 Leverage Ratio was 10.90%.
  • Net Charge-offs to Average Loans was 0.52%.
  • Ratio of Past Due Loans > 30 Days to Total Loans was 0.04%.
  • Non-Performing Assets to Total Assets Ratio decreased to 0.68% from 0.72% in the prior quarter. 
 
Holley continued, “In 2013, CapitalMark has produced steady balance sheet growth and favorable credit quality metrics. We remain focused on our strategy of becoming a $1 billion bank by adding experienced Banker Teams who focus on understanding and meeting the needs of our clients.”

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, Cleveland, Knoxville and Oak Ridge, Tennessee. Additional information about CapitalMark and its full line of products and services can be found at www.capitalmark.com.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based upon management’s belief as well as assumptions made by, and information currently available to, management pursuant to “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from the results anticipated in forward-looking statements due to a variety of factors, including governmental monetary and fiscal policies, deposit levels, loan demand, loan collateral values, securities portfolio values, interest rate risk management, the effects of competition in the banking business from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market funds and other financial institutions operating in our market area and elsewhere, including institutions operating through the Internet, changes in governmental regulation relating to the banking industry, including regulations relating to branching and acquisitions, failure of assumptions underlying the establishment of reserves for loan losses, including the value of collateral underlying delinquent loans, and other factors. We caution that such factors are not exclusive. We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, us.

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