KNOXVILLE, TN — May 3, 2016 — Mountain Commerce Bank (MCB) announced net income of $995,000 for the first three months of the year. ”I am pleased to report solid earnings growth for the quarter ending March 31, 2016,” said Bill Edwards, president and chief executive officer of Mountain Commerce Bank. “Our earnings and asset growth continues to accelerate.”
MCB’s earnings for the first quarter of 2016 were $995,000. Assets were $517 million, an increase of $88 million from the same quarter last year. Core deposits were up $125 million of which noninterest-bearing deposits increased $12.4 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 December 2015, MCB had $516.8 million in total assets and $457.9 million in total deposits. MCB currently employs more than 70 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.