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.”


GeorgiaBEST Implemented At Georgia Northwestern

State Labor Commissioner Mark Butler announced that Georgia Northwestern Technical College (GNTC) in Rome has become the first institution of higher learning in Georgia to offer GeorgiaBEST, the Georgia Department of Labor’s (GDOL) initiative that teaches workplace soft skills. “I commend President Pete McDonald for recognizing the need to incorporate soft skills training ... (click for more)

Chattanooga Business Calendar Oct. 25 - Nov. 1

MO/27 Get a Job -- Tyner High School 10:17 a.m. to 3:55 p.m. Tyner High School: 6836 Tyner Rd. Get A Job instructs 10th graders on the finer points of interviewing skills, completing job applications, dressing for success and other topics of importance for the 21st century workforce.  Community volunteers are needed to assist with this event.  Please contact ... (click for more)

Man Shot At Apartments On Tunnel Boulevard Wednesday Afternoon, Then 2 Juveniles Shot At Rec Center On Oakwood Drive With Suspects In Custody

Chattanooga police officers responded to the apartment buildings at 404 Tunnel Blvd. Wednesday at 1:21 p.m., where residents say they heard multiple shots fired.  Witnesses said they saw multiple suspects fleeing the scene on foot behind the complex.  The male victim was taken to a local hospital for life threatening gunshot wounds.  Later Wednesday, ... (click for more)

Several Arrested Outside Erlanger Hospital When Crowd Gathers After Woodlawn Shooting

Several people were arrested Monday night outside Erlanger Hospital after a crowd gathered and clashed with police. The crowd included family and friends of 20-year-old Apprentice Berry, who was shot multiple times and killed earlier Monday night at the Woodlawn Apartments on Wilson Street. Erlanger officials said the group gathered at the emergency room, but were later moved ... (click for more)

Chattanooga Has Lost Its Most Popular Citizen - Luther Masingill - And Response

Chattanooga has lost its most popular citizen – Luther Masingill. Although we are saddened we cherish the memories.  All of us have a Luther story.  Mine is the first time I met Luther.  This was before TV and all of Chattanooga listened to Luther on the radio.  I was 12-years-old.  Some of my buddies and I had gone to the State Theater in downtown ... (click for more)

Roy Exum: The Policeman’s Prayer

Every year, when the Law Enforcement Foundation of Greater Chattanooga holds its annual luncheon, it is one of the most heartening displays of what America really believes, down deep inside. The most prominent and influential leaders in the community – well over 1,000 -- gather to pay tribute and pledge their support to our heroes in blue who are unfaltering in their devotion, service ... (click for more)