I am delighted to report that 2018 was another excellent year for your Bank. During that twelve-month span, we continued to execute on our strategic plan, while achieving robust managed growth, maintaining high asset quality and realizing a strong increase in earnings.
I’m particularly pleased by some of our profitability metrics, most notably our return on average equity (ROAE) and our efficiency ratio. Both of these are among the best in the Bank’s peer group. Achieving such figures, particularly during a year when we experienced impressive growth, is a testament to our team and the markets we serve.
It’s also worth noting that our strength and performance were recognized by several outside organizations.
As we progress further into 2019, I am especially grateful to all of our Mountain Commerce Bancorp, Inc. and Mountain Commerce Bank team members who made 2018 such an outstanding success. I applaud their efforts, and I extend my appreciation to our Board of Directors for their ongoing guidance and wisdom.
We have challenged ourselves to stay focused in 2019, and we expect yet another year of high performance.Sincerely, William E. Edwards III President and Chief Executive Officer