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.