KNOXVILLE, TN—July 26, 2016— Mountain Commerce Bank (MCB) announced net income of $2,239,000 for the first six months of the year.
“I am pleased to report accelerating earnings growth for the quarter ending June 30, 2016,” said Bill Edwards, president and chief executive officer of Mountain Commerce Bank. “We have seen solid loan and deposit growth in our Knoxville market.”
MCB’s earnings for the second quarter of 2016 were $2,239,000. Assets were $543 million, an increase of $100 million from the same quarter last year. Core deposits were up $130 million of which noninterest-bearing deposits increased $10.1 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 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 2016, MCB had $542.7 million in total assets and $481.5 million in total deposits. MCB currently employs 71 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.