JOHNSON CITY, TN—June 5, 2014— Mountain Commerce Bank (MCB) announced first quarter net income of $600,000.
Bill Edwards, President and CEO stated, “I am pleased to report continued earnings growth for the quarter ending March 31, 2014. In addition, we were able to attain significant loan growth the first quarter of 2014.”
MCB’s earnings were $600,000 for the first quarter of 2014. Net interest margin remained strong, averaging 4.13% for the quarter. Non-salary related operating expenses continue to be reduced as reflected in a $123,000 decrease from the same quarter last year.