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.”


Beltone Announces Grand Opening In Hixson

Beltone is celebrating its grand opening for its newest store located at the Walmart Shopping Center, at 5756 Highway 153, Suite 116 in Hixson on  June 8  at 3 p.m. There is no cost to attend. There will be refreshments and snacks after the ceremony.  Officials said, "Come join us for this occasion with the Chattanooga Chamber of Commerce, and ... (click for more)

Chattanooga Women's Leadership Institute To Host Leadership Luncheon

Chattanooga Women’s Leadership Institute (CWLI) will host a Leadership Luncheon highlighting the importance of acknowledging mentors in the workplace on  Friday June 5, at The Chattanoogan from  11:30 a.m. – 1 p.m. One of the themes for 2015: recognizing and acknowledging the importance of mentors – even though our mentors may not look like us. ... (click for more)

Work To Start Later This Year On Major Reworking Of U.S. 27 Downtown; 31 Walls To Be Erected As Cameron Hill Faces More Cuts

Work is set to start later this year on the $80 million reworking of U.S. 27 in downtown Chattanooga. TDOT's Jennifer Flynn said all of the right of way has been acquired and construction bids are tentatively scheduled to be opened in August.  The 1.4-mile project includes U.S. 27 from I-24 to south of the Olgiati Bridge.  Work was completed earlier this year ... (click for more)

2 Hurt At Soddy Daisy In Train/Car Accident

Two people were hurt in a train and car accident in Soddy Daisy. More information will follow as it becomes available.   (click for more)

Erlanger Electronic Medical Records Purchase Doesn't Add Up - And Response (2)

Erlanger has recently announced their decision to purchase a $100,000,000 Electronic Health Information System. Something smells. Erlanger's downtown campus has 760 licensed beds, according to hospital-data. That would equate to $131,578 per bed for this system (now that's a lot of ipads). Please re-read that simple math. I use to manage an Electric Medication Administration ... (click for more)

Roy Exum: City Limits Worry Dogs, Cats

If you are a dog or a cat in the Chattanooga area, it is very important to know exactly where the city limits are. You need to know that if a stray animal is rescued in the city, it is taken to one of the finest animal shelters in all of America. But if the errant pooch or tabby is found in Hamilton County – outside the city limits -- it is taken to arguably the worst animal facility ... (click for more)