JOHNSON CITY, TN—April 23, 2013— Mountain Commerce Bank (MCB) announced first quarter net income of $635,000.
Bill Edwards, President and CEO stated, “I am pleased to report continued earnings growth for the quarter ending March 31, 2013. We continue our momentum after a strong finish to 2012. Our Hometown Service provided by our relationship teams along with our use of Smart Technology is producing results and customer satisfaction.”
MCB’s earnings were $635,000 for the first quarter of 2013. Net interest margin remained strong, averaging 4.09% for the quarter. Operating expenses continue to be reduced as reflected in a $322,000 decrease from the same quarter last year.