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.”


Study Shows 60 Percent Of Low-Income Tennesseans Face Civil Legal Problems

A study commissioned by the Tennessee Supreme Court Access to Justice Commission and the Tennessee Alliance for Legal Services with the support of the Tennessee Bar Association has found that more than 60 percent of vulnerable Tennesseans face a significant civil legal need. The goal of the study was to examine the effectiveness of delivering legal assistance to those in need. ... (click for more)

The Dixie Group Reports Formation Of Masland Hospitality

The Dixie Group announced the formation of Masland Hospitality, a new business will be led by Elizabeth Moore, vice president of Masland Hospitality. With Dixie’s recent acquisition of the assets of Burtco, LLC, a comprehensive offering of products will be available from Masland for the hospitality market. The product portfolio will include large scale public space patterns utilizing ... (click for more)

Kiser Takes Witness Stand For First Time; Says He Did Not Kill Deputy Donald Bond

Marlon Duane Kiser took the witness stand at his post-conviction hearing on Tuesday to declare that he did not kill Deputy Donald Bond, who was gunned down at a produce stand in East Brainerd 13 years ago. Kiser had not opted to go on the stand when he was convicted by a Nashville jury and given the death penalty in 2003. He said he believes it was Mike Chattin, the man he ... (click for more)

Courtney Godwin, 25, Was Victim In Monday Night Fire In Hixson

Chattanooga firefighters battled a fully-involved structure fire in Hixson Monday night, and the incident involved at least one fatality.  Dr. Steve Cogswell with the Hamilton County Medical Examiner’s Office identified the victim as Courtney D. Godwin, 25. Dr. Cogswell said Ms. Godwin died from smoke inhalation.   The first call to 911 Communications was received ... (click for more)

Chattanooga State Faculty Has No Business Being Involved In Hiring Decisions

This letter will hopefully bring some clarity to the recent situation created by the faculty of Chattanooga State Community College. It is based upon my tenure as a member of the faculty at Chattanooga State Technical Institute, the transformation to Chattanooga State Community College, and my service as the financial and administrative officer at Chattanooga State until my retirement ... (click for more)

Roy Exum: Thanksgiving Conversations

I am not predicting this will happen but I have known it to occur – in the middle of the Thanksgiving feast there will come a lull in the conversation and you can save the day if you’ll immediately look at the person to your right and ask, “What is the smartest thing you ever heard somebody say?” It is an easy thing, because we all love wisdom, and the ploy comes to mind because ... (click for more)