Mountain Commerce Bank’s Third-Quarter 2009 shows impressive gains

November 13th, 2009

JOHNSON CITY, TN – November 13, 2009 – East Tennessee-based Mountain Commerce Bank (MCB) announced today its numbers through the third quarter of 2009. Compared to a loss of $1.7 million during the same period last year, MCB’s before-tax profits of $689,000 and after-tax profits of $466,000 represented solid gains for the bank.

“We are pleased to report MCB’s profitability, especially given the current economic environment,” stated William E. Edwards, III, President and CEO. “We continue to meet the credit needs of our clients and strengthen our communities despite the challenges.”

As of September 30, 2009, MCB’s Total Assets equaled $320 million; loans, $255 million; and deposits, $276 million. In addition, Non-Brokered Deposits increased $49 million over the last twelve months. The Bank’s allowance for loan loss was 1.73% at September 30th: an increase of $1.422 million, compared to September 30, 2008. Tier I Capital and Total Risk-Based Capital was 8.77% and 11.96% respectively at September 30, 2009, which is up from 8.61% and 10.60% for the same period in 2008. The profit includes an additional $659,000 in loan loss provision year-to-date.


Mountain Commerce Bank appoints Kevin W. Horne to Board of Directors

November 13th, 2009

Mountain Commerce Bank (MCB) announced today the appointment of Kevin W. Horne, EVP/Area President and Chief Credit Officer, to its Board of Directors.

Horne is a graduate of the University of Tennessee, the Southeastern School of Commercial Lending, and the Southeastern School of Advanced Commercial Lending.  He has completed all certified financial planner courses through East Tennessee State University. Horne brings over fourteen years experience in the financial industry to his new role on the Board.

Horne’s recent promotion to Chief Credit Officer and skill in the development of policy and credit review, and management are indication of his strong and consistent leadership.

“Kevin Horne is that rare executive, willing to unselfishly take on and successfully complete every task an organization requires.  We are pleased to have this opportunity to recognize Horne’s hard work and dedication.  He exemplifies the core values of Mountain Commerce Bank.” said Bill Edwards, President and CEO.


Promotion at Mountain Commerce Bank reinforces leadership and security

November 6th, 2009

Mountain Commerce Bank (MCB) has promoted Brice Chapman from Bank Secrecy Act (BSA) and Anti-Money Laundering Analyst to BSA Officer. A graduate of Crown College, Chapman brings over five years of experience in the financial industry and BSA certification to his new position.

During his tenure at Mountain Commerce Bank, Chapman has demonstrated the unwavering integrity crucial to maintaining the security and compliance of MCB’s BSA Program. He epitomizes such core values that have made MCB a trusted institution for 100 years.

“People like Brice Chapman make us proud to serve the East Tennessee community. MountainCommerce Bank is pleased to recognize Chapman’s hard work and his dedication to MCB’ssecurity and compliance, a vital aspect of who we are and what we do,” said Bill Edwards,President and CEO.


Mountain Commerce Bank continues to grow, adds seasoned staff

September 8th, 2009

Mountain Commerce Bank (MCB) welcomes three new employees: Debra Grecol, Virginia Dover, and Laura “Sissy” Kelly.

Debra Grecol, a mortgage consultant out of the Atlanta area, was named Mortgage Department Manager. With over 30 years’ experience in the banking and mortgage industries, Grecol will lead the secondary mortgage team, manage all aspects of the mortgage function, develop and implement policies and procedures, and generate new mortgage business for MCB.

Virginia Dover’s 18 years of experience in the banking industry with institutions like American Trust Bank and United Community Bank will serve her well in her capacity as MCB’s new Training Coordinator. With an emphasis on Bank Secrecy Act (BSA) compliance and operational training, she will oversee the training of new tellers, development of training schedules and presentation materials, and coordination of outside training opportunities.

The newest teller at the Limited Centre in Johnson City, Laura “Sissy” Kelly has also worked for First Bank and Trust Co and Fort Sill National Bank in Kingsport. She brings 23 years’ worth of customer service, sales, and head/vault teller experience to MCB.

“We welcome these new team members to the MCB Team. Our staff make MCB what it is—a local bank proud to build long-term relationships in the East Tennessee community and offer top-quality service,” said Bill Edwards, President and CEO.


MCB Announces Relocation of N. Peters Road Branch to Cedar Bluff Location

August 26th, 2009

Mountain Commerce Bank , with roots dating back to 1910, has announced the relocation of the current branch located at 249 N. Peters Road to a new location at 320 N. Cedar Bluff Road, Suite 101. The new branch is scheduled to open for business on September 2, 2008.

As part of the growth strategy for Knoxville, MCB chose to relocate the N. Peters Road branch to provide more banking convenience for customers. The new Cedar Bluff branch is approximately one-half mile from the N. Peters Drive branch and is located at the corner of Executive Park Drive and Cedar Bluff Road. It features a two-lane drive-thru, ATM that dispenses cash and accepts deposits, easy entry and exit access to the building, and an after hours night deposit drop.

“When we began evaluating the possible locations for our new branch, we kept our customers at the top of our minds,” said Tim Topham, EVP & Regional President of MCB for the Knoxville market. ”We chose our new Cedar Bluff location because it offers more convenience that makes everyday banking easy for our customers.”

The foundation of MCB is built on its ability to offer big bank capital and technology with small, community bank relationships. As a client of MCB, customers will benefit from a wide array of personal and business banking products and services including a variety of deposit product options, competitive rates on loans and lines of credit, remote location deposit capturing, financial planning, investment services, and customized lending and banking solutions.

MCB’s Cedar Bluff branch will have more than 20 employees.  As a full-service branch, the drive-thru is open Monday – Friday from 8:00 am to 6:00 pm and the lobby is open Monday – Thursday 8:30 am to 5:00 pm; Friday 8:30 am to 6:00 pm. For specific branch information, please call 865-694-5701.