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.”

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