KNOXVILLE, TN — July 19, 2019 — Mountain Commerce Bancorp, Inc. (OCTQX: MCBI) announced today that its subsidiary, Mountain Commerce Bank (MCB), has earned a place among the top 200 publicly traded community banks in the United States as determined by American Banker magazine. The annual ranking was for community banks with less than $2 billion in assets and was released with the magazine’s May 2019 issue.
The ranking—based on a three-year average of each bank’s return on average equity(ROAE)—placed MCB at #96, recognizing the local community bank as one of just a handful of Tennessee-based banks to make the grade, and securing it the highest spot of any in East Tennessee.
“ROAE is a financial ratio that measures profitability in relation to the averageshareholders’ equity,” said William E. (Bill) Edwards III, the bank’s president and chief executive officer. “It’s a measure of management’s ability to generate income from theequity available to it.”
Over the last three years, MCB’s ROAE averaged 10.74 percent, a reflection of thebank’s financial stability and strength, but also its wise business strategy.
“It’s an honor to be included in American Banker magazine’s annual listing,” Edwards stated. “At MCB, we plan to continue to build on successes like this by super-serving ourclients’ banking needs every day.”
About Mountain Commerce Bancorp, Inc. and its subsidiary Mountain Commerce Bank:
Mountain Commerce Bancorp, Inc. (OCTQC: MCBI) is a bank holding company and the parent of Mountain Commerce Bank (MCB).
MCB is a state-chartered, FDIC-insured, century-old, financial services institution headquartered in Knoxville, Tennessee and serving East Tennessee. Through Hometown Service and Smart Technology, MCB offers big bank products and services, with the personal attention and exceptional service of a hometown community bank.
At the end of June 2019, MCB had $881.6 million in total assets and $777.9 million in total deposits.
MCB currently employs 86 individuals at five branches and one operations office. For more information, visit us at www.mcb.com or check your account any time at 1-866-MCB-1910. MCB is an equal opportunity employer.