Mountain Commerce Bank announces continued solid earnings for second quarter 2012

JOHNSON CITY, TN—July 23, 2012— Mountain Commerce Bank (MCB) announced second quarter year-to-date net income of $1,279,000.

Bill Edwards, President and CEO stated, “Operating results through June reflect our commitment to enhanced operational efficiency, and an improving economy and real estate market.  I am pleased with our increasing momentum and results that our team has been able to accomplish.”

MCB’s earnings for the second quarter of 2012 was $579,000. Net interest margin remained strong averaging 4.33% for the quarter. Operating expenses continue to be reduced as reflected in a $687,000 decrease from the same quarter last year.  Noninterest-bearing deposits increased $7.2 million over the same period last year.