JOHNSON CITY, TN—July 17, 2013— Mountain Commerce Bank (MCB) announced second quarter year-to-date net income of $1,190,000.
Bill Edwards, President and CEO stated, “Operating results through June reflect our commitment to operating efficiency and maintaining a strong net interest margin. I am pleased with our continued core earnings growth and equally excited by the success that our relationship banking teams have been able to accomplish.”
MCB’s earnings for the second quarter of 2013 were $556,000. Net interest margin remained strong averaging 4.13% for the quarter. Operating expenses continue to be reduced as reflected in a $260,000 decrease from the same quarter last year. Noninterest-bearing deposits increased $5.6 million over the same period last year.