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.”


Tennessee Supreme Court Rules that Employment-at-Will Doctrine Applies To Trial Judge Secretarial Assistant Positions And Dismisses Claim

The Supreme Court has upheld the constitutionality of the written protocol by which the Tennessee Department of Correction carries out an execution by lethal injection. The plaintiffs in this matter, each of whom have been convicted of first degree murder and sentenced to death, brought a declaratory judgment action in the trial court challenging the constitutionality of the ... (click for more)

City Of Cleveland Receives 2 Bids To Extend Runway At Cleveland Regional Jetport

The City of Cleveland received two bids on  Tuesday  to extend the runway at the Cleveland Regional Jetport.   The sealed bids were opened  Tuesday  afternoon. GLF Construction Corporation of Miami, Fl. submitted a bid of $2,914,980. Hinkle Construction Services, LLC of Paris, Ky. submitted a bid of 2,004,827.   Five companies, including ... (click for more)

Boyd Says $4.1 Million In County Budget Cuts Would Yield $43.1 Million For School Projects; Proposes That CSLA Move To Dalewood

County Commission Finance Chairman Tim Boyd on Wednesday recommended $4.1 million in county budget cuts, which he said would provide bond funds for $43,150,000 in county school projects. He recommended that $250,000 of the money from the cuts go to relocating Chattanooga School for the Liberal Arts (CSLA) to Dalewood Middle School. He said Dalewood students could move to a portion ... (click for more)

Police Shoot And Kill Sheriff's Office Employee, Daniel Hendrix After Disorder At Brainerd Home; 2 Off-Duty City Officers Were At Scene Of Altercation Where Shot Was Fired

Chattanooga Police responded to an altercation at a house in Brainerd early Wednesday morning and wound up shooting and killing an armed man, who is an employee of the Hamilton County Sheriff's Office. Police said two off-duty Chattanooga Police officers were at the scene of the disorder in the 300 block of Shawnee Trail. A shot was fired before officers arrived at 1:26 a.m. ... (click for more)

Slaxxon Regret - And Response

Back in the seventies my three oldest brothers had a buddy named Steve Slack. “Slack” was a star soccer player at Baylor and he grew up on Lookout Mountain, which is where I grew up. He and Jimmy, Henry and Bill went to the University of Virginia where they were roommates in an old, beat up house that was painted pink. Naturally, the place became known as the “Pink Palace” but lest ... (click for more)

Roy Exum: Two Catchers & ‘Shaq’

Kids whose parents are active members in the military were special guests of the New York Yankees when they played the Tampa Bay Rays in an exhibition game last Sunday in Tampa. The Yankees had even arranged for taped videos so some of the kids could watch with the rest of the crowd as their parents told how much they missed them on the Jumbotron. Both the kids and the fans ate ... (click for more)