CapitalMark Revenue Increases 15% Driven By Strong Loan Growth

Friday, October 25, 2013

CapitalMark Bank & Trust on Friday announced earnings for the third quarter of 2013.  The company reported net income of $1.2 million and earnings per diluted share of $0.16.  These results reflect year-over-year top-line revenue growth of 15.2% and loan growth of 27.6% when compared to the same period last year.

Chairman, President and Chief Executive Officer R. Craig Holley said, “This marks another quarter of top-line revenue increases, driven by strong loan growth.  Businesses and consumers continue to embrace our unique Banker Team model that offers clients a single-point-of-contact and unparalleled service.”

Third Quarter Highlights:

  • Gross Loans increased to $555 million, a 27.6% increase over the same period last year.
  • Deposits increased to $686 million, a 4.0% increase year-over-year.
  • Non-Interest Bearing Deposits increased 33.1% to $112 million over the same period last year.
  • Total Assets grew to $798 million, or 5.0% over the third quarter 2012.
  • Revenue Growth increased 15.2% over the same nine-month period last year to $22.8 million.
  • Net Interest Margin was 3.81%, an increase of 36 basis points from the third quarter 2012 and 15 basis points linked quarter.
  • Net Interest Income before loan loss provision increased 13.8% year-over-year.
  • Net Income per fully diluted common share was $0.16 for the quarter.
  • Tier 1 Leverage Ratio was 10.90%.
  • Net Charge-offs to Average Loans was 0.52%.
  • Ratio of Past Due Loans > 30 Days to Total Loans was 0.04%.
  • Non-Performing Assets to Total Assets Ratio decreased to 0.68% from 0.72% in the prior quarter.

Mr. Holley said, “In 2013, CapitalMark has produced steady balance sheet growth and favorable credit quality metrics. We remain focused on our strategy of becoming a $1 billion bank by adding experienced Banker Teams who focus on understanding and meeting the needs of our clients.”


Employers Can Now File WARN Notices Online

The Tennessee Department of Labor & Workforce Development (TDLWD) announced that a new digitized filing system is now available to employers issuing WARN notices. The online portal allows TDLWD to more quickly assist employees affected by layoffs. “The new WARN filing system streamlines the process for both the employer and our agency, reducing the response time in getting ... (click for more)

CBL & Associates And Hamilton Place Recognized At ICSC's Maxi Awards

The International Council of Shopping Centers announced the winners of the 2016 U.S. MAXI Awards, highlighting the retail real estate industries innovative marketing events, programs and technologies that added value to shopping centers across the country. ICSC honored the winners on at an awards ceremony during RECon, the global real estate convention in Las Vegas.  CBL ... (click for more)

Stone Domestic Assault Case Postponed Until Aug. 9

The case in which Bobby Stone is charged with domestic assault against his wife, advisor to Mayor Andy Berke Lacie Stone, has been postponed until Aug. 9. Officials said there will be no further action until the TBI completes its investigation.  The case had been set Tuesday morning before general sessions court Lila Statom. The TBI is believed to be looking into ... (click for more)

Chattanooga Honors Military Veterans

A Memorial Day service was held at the National Cemetery on Monday. (click for more)

Calling Out Bad Behavior In St. Elmo - And Response

I have lived in the St. Elmo community of Chattanooga for practicially all 52 years of my life. My grandmother moved to St. Elmo in 1919. My Dad was literally born in a home in St. Elmo and lived his entire 72 years in this community and my Mom has lived here 60 years of her life. I am very disappointed in what my neighborhood has become. I like people. ... (click for more)

Roy Exum: Amputee Team Wins Relay

As a news junkie there isn’t a lot that gets past me in my morning reading, yet I had no idea there was a relay race in Chattanooga two weekends ago. Maybe that’s why 1,500 people ran away and never came back – the finish line was in Nashville. How the Ragnar Relays work is pretty simple. The organizers pick two cities that are about 200 miles apart and then 12-to-14 runners ... (click for more)