2016 Annual Report Released

Mountain Commerce Bancorp had an exceptional year in 2016, with record earnings and exceptional growth.

  • Surpassed the $600 million mark in total assets, an increase of 25 percent over prior year-end figures.
  • Continued to elevate our profile in the Knoxville market, which now accounts for approximately 78 percent of our total loans—up from a base of zero when we entered the market in 2007.
  • Concluded a private placement of more than $20 million of common stock—approximately 1.7 million shares at $12.00 per share—to augment the Company’s capital.
  • Reached an all-time high in profits, excluding the nonrecurring deferred tax benefit of 2013.
  • Heightened shareholder value and improved liquidity by joining the OTCQX Best marketplace.
  • Enhanced our technology offerings with noteworthy upgrades to both our Mountain Commerce Bank website and our versatile mobile apps.
  • Celebrated our milestone 10th anniversary as Mountain Commerce Bancorp, Inc.

For all these reasons and more, 2016 was one of the most momentous in our Company’s history. In the 2016 Annual Report, I will share a few more of the details with you. Suffice it to say, however, that I am proud of the results our team delivered. I am also grateful for the valuable input provided by your Board of Directors, and the confidence expressed by your investment.

As we wrap up 2016 and focus our attention on 2017, I can share that this year, too, shows great promise for profitability and market share gains.

As a community bank, we place great value on our strong, personal relationships and our ability to make decisions locally to benefit the communities we serve. Thank you for your continued support, and please stop by if you haven’t visited our new headquarters.

Sincerely
William E. Edwards III
President and Chief Executive Officer

Our 2016 Annual Report can be downloaded here.