JOHNSON CITY, TN—August 3, 2015— Mountain Commerce Bank (MCB) announced second quarter year-to-date net income of $1,605,000.
“With the grand opening of our new Bearden financial center – our second location in the Knoxville area – our loan and deposit growth are continuing to accelerate. I am pleased that the bank’s second quarter earnings increased 211 percent,” said Bill Edwards, president and chief executive officer of Mountain Commerce Bank.
Assets as of June 30, 2015, were $442.5 million, an increase of $41.4 million from the same period last year. Total Loans have increased by $27.3 million or 8.3 percent since the beginning of the year. Savings and checking accounts increased by $35.4 million or 24.2 percent.
MCB’s earnings for the second quarter of 2015 were $825,000. Net interest margin remained strong, averaging 3.95 percent for the quarter and 4.05 percent year-to-date. Noninterest-bearing deposits increased $1 million over 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 June 2015, MCB had $442.5 million in Total Assets and $390.2 million in Total Deposits. MCB currently employs more than 70 individuals at six branches and one operations office. For more information, visit www.mcb.comor check your account any time at 1-866-MCB-1910. MCB is an equal opportunity employer.