JOHNSON CITY, TN—November 20, 2012— Mountain Commerce Bank (MCB) announced third quarter year-to-date net income of $1,817,000.
Bill Edwards, President and CEO stated, “Operating results through September reflect improved operational efficiency. I am pleased with our increasing momentum and the financial results that our team has been able to accomplish.”
MCB’s earnings were $537,000 for the third quarter of 2012. Net interest margin remained strong, averaging 4.08% for the quarter. Operating expenses continue to be reduced as reflected in a $318,000 decrease from the same quarter last year. Noninterest-bearing deposits increased $3.0 million during the same period last year.
About Mountain Commerce Bank:
Mountain Commerce Bank (MCB) is a state-chartered, FDIC-insured, century-old, privately held financial services institution serving Knoxville, Johnson City, and Unicoi County. 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 September 2012, MCB had $309 million in total assets and $272 million in total deposits. MCB currently employs more than 60 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.