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.”

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