State-of-the-art operations center under construction in Johnson City in addition to a new standalone financial center; New branch coming to Brentwood
KNOXVILLE, TN — March 24, 2022 — Underscoring its local roots, Knoxville-based Mountain Commerce Bank (MCB), a subsidiary of Mountain Commerce Bancorp, Inc. (OTCQX: MCBI), continues to expand and invest in Tennessee.
Evidence of MCB’s commitment to the Volunteer State includes the recent announcement of its entry into the greater Nashville market with a new branch in Brentwood, and the construction of a new operations center in Johnson City to support future growth. The bank plans construction of a new financial center in the Johnson City market as well.
With assets approaching $1.4 billion, Mountain Commerce Bank has been on a steep, upward trajectory over the last 15 years and has every intention of remaining locally headquartered in Knoxville.
“We’re a local, hometown bank and have been for more than 110 years,” said William E. “Bill” Edwards III, MCB president and chief executive officer. “From our acquisition of a two-branch bank in northeast Tennessee, to the subsequent relocation of our headquarters to Knoxville, to our new operations center in Johnson City and now our planned expansion into the greater Nashville area, we believe in Tennessee. These construction projects are just the latest indicators of our commitment to the local area and the local economy.”
Edwards said there is a direct correlation between the bank’s ongoing success, its current expansion and the loyalty customers have for MCB.
“Our clients have made a commitment to MCB, which has been fundamental to our growth over the years. In turn, we’re making a commitment to the local Tennessee communities we serve. Deposits at MCB are reinvested right here – not siphoned off for some far-off project that will never benefit Tennesseans or the local economy. Reinvesting locally is the way we think banking should be done.”
A five-star BauerFinancial-rated institution that features Hometown Banking and Smart Technology, MCB’s planned branch in Brentwood is slated to open in the second quarter. The expanded operations center in Johnson City is currently under construction on Gray Commons Circle and should be ready for occupancy this fall. And provided all the customary approvals are met, groundbreaking for the new branch and financial center on Memory Gardens Road – just off I-26 at Exit 17 – is planned for this summer.
“These are exciting times for the employees and shareholders of MCB,” Edwards said. “But we recognize that our continued growth is a direct reflection of the confidence our clients have in our ability to meet their banking needs every day. And for that, we are exceedingly grateful.”
Mountain Commerce Bancorp, Inc. is the holding company for Mountain Commerce Bank. The company’s shares of common stock trade on the OTCQX under the symbol “MCBI.”
Mountain Commerce Bank is a state-chartered financial institution headquartered in Knoxville, TN. The bank traces its history back to 1910 and will serve middle and east Tennessee through 6 branches located in Erwin, Johnson City, Knoxville, Nashville and Unicoi. The bank focuses on providing responsive relationship banking to small- and medium-sized businesses, professionals and clients who value personal service and attention. For further information, please visit us at www.mcb.com
At the end of December 2021, MCB had $1.335 billion in total assets and $1.108 billion in total deposits.