CapitalMark Reports $1.5 Million Quarter Profit

Tuesday, July 23, 2013

CapitalMark Bank & Trust Tuesday reported earnings of $1.5 million for the second quarter ended June 30.

“We’re pleased to report 18 consecutive quarters of positive earnings despite heightened regulatory pressures and a slow growth economy, said R. Craig Holley, CapitalMark’s chairman, president and CEO. "CapitalMark delivered strong quarterly revenue and gross loan growth, ultimately bolstering our core earnings capacity and increasing the long-term value of the company.” 

Here are the second quarter highlights: 


• Gross Loans increased $116 million to $518 million, or 28.7 percent over the same period last year.

• Deposits increased $26 million to $669 million, a 4.0 percent increase year-over-year.

• Total Assets grew to $775 million, or 4.7 percent over the second quarter 2012. 

• Increase in Operating Income Net of Loan Provision $1.2 million, representing an 8.3 percent growth year-over-year. 

• Net Income was $2.4 million for the six months ended June 30, 2013. 

• Tier 1 Leverage Ratio was 10.86 percent.

• Net Charge-offs to Average Loans was 0.42 percent.

• No Loans Past Due Greater Than 30 Days. 

• Non-Performing Assets to Total Assets Ratio decreased to 0.72 percent from 0.74 percent in the prior quarter. 

Mr. Holley continued, “CapitalMark is primed for future growth as we continue to operate well above the regulatory capital requirements. Our newest full-service offices, located in Cleveland and Oak Ridge, and two additional Banker Teams added in the first quarter of 2013 position CapitalMark for continued growth as they remain focused delivering CapitalMark’s unique and efficient banking model to clients in their respective markets.”


Chattanooga Chamber Calendar Of Events July 31-Aug. 1

8/1 Member Orientation 8 – 9:30 a.m. Member Orientation: 811 Broad St. Join us to learn more about your member benefits and what's going on at the Chamber. Light breakfast is served. Please RSVP to Anne McNutt, AMcNutt@ChattanoogaChamber.com   8/1 2017 Chattanooga Business Opportunity Conference 9:30 a.m.  – 3 p.m. UTC University Center: 742 East 5th St.  ... (click for more)

Fireball Amusement Park Ride Prohibited In Tennessee After Fatal Accident In Ohio

Tennessee Department of Labor and Workforce Development Commissioner Burns Phillips on Thursday issued an order prohibiting all Fireball amusement devices, manufactured by KMG, from operating within the state.  This is the device involved in a fatal accident  Wednesday  evening at the Ohio State Fair. “After much consideration and thought, and with ... (click for more)

Man Jumped Into River To Escape Robbers Who Killed His Wife At Renaissance Park; Tyree Corley Arrested In Shooting Death Of Kathy Hardy

A man told police he jumped into the Tennessee River to escape from robbers who killed his wife at Renaissance Park early Sunday morning, July 16. Tyree Tichion Corley, 22, of 3810 Sherwood Lane, has been charged with felony murder and especially aggravated robbery in the fatal shooting of Kathy Hardy. Corley is in custody at the Hamilton County Jail.  Shawn Hardy said ... (click for more)

Hamilton County Schools To Close Aug. 21 For Solar Eclipse

Due to safety concerns, Hamilton County Schools will close all schools and school age childcare on Aug. 21. This date coincides with the first total solar eclipse to occur across the entire continental United States in 99 years. A solar eclipse occurs when the moon passes directly in front of the sun, and casts its shadow on the Earth below. The eclipse will reach totality ... (click for more)

Children Should Not Get Holiday For Solar Eclipse

Re: County Schools to close for the solar eclipse: What a waste of an educational opportunity. The local folks in-charge of the Hamilton County, Tn., school system just announced that they are going to cancel school on Aug. 21 the day of the eclipse.  To protect the children from being on the school bus during the time of the eclipse.  It will be dark and other ... (click for more)

Roy Exum: Jake, A Great Man

When Bob McKamey was 18 years old, the late Hitch Grimes came home on furlough from the Marine Corps and brought a handsome, energetic friend with him, Jake Butcher. “That was 64 years ago and that’s when it started, one of the greatest friendships of my life. Talking about Jake is like picking up a book with 1,000 pages and opening it to a random page. Only you can hardly put it ... (click for more)