CapitalMark Reports 73 Percent Increase In Fourth Quarter Earnings

Thursday, January 23, 2014

CapitalMark Bank & Trust Thursday reported year-end performance with net income of $5.81 million. For the quarter, net income was $2.15 million, representing an increase of 72.9 percent over the fourth quarter 2012. 

“We are pleased to report strong fourth quarter results,” said R. Craig Holley, CapitalMark’s chairman, president and CEO.  “This marks another quarter of top-line revenue increases driven by significant loan growth.”

2013 AND FOURTH QUARTER HIGHLIGHTS:
Net income for the year 2013 was $5.81 million.
Net income for the quarter was $2.15 million increasing 72.9 percent year-over-year.
Net income per fully diluted common share was $0.27 for the quarter and $0.72 for the year.
Top line revenue improved $4.3 million or 15.9 percent year-over-year.
Total Assets grew to $828 million, or 6.15 percent year-over-year. 
Deposits totaled $685 million, a 1.82 percent increase over 2012.  
Non-Interest Bearing deposits grew 36.6 percent and now comprise 17.25 percent of total deposits.
Loans increased to $584 million, or 27.1 percent year-over-year.
Non-interest expense increased 19.7 percent or $3.3 million in 2013 as compared to 2012.
Tier 1 Leverage Ratio was 10.87 percent.
Ratio of Past Due Loans > 30 Days to Total Loans was 0.15 percent.


Mr. Holley noted, “We entered 2013 with expectations of a challenging year. The large increase in operating expenses was expected as we positioned our balance sheet and operating profile to support continued growth. We remain focused on a strategy of becoming a $1 billion bank by adding experienced Banker Teams who focus on understanding and meeting the needs of our clients.” 



Jermaine L. Swafford Named CSX Vice President Regional Transportation-Southern Region

Jermaine Swafford, a native of Hamilton County, has risen through the operations ranks at CSX since he joined the company in 1998.  From an assistant trainmaster in Russell, Ky., to his most recent position as division manager in Atlanta, Mr. Swafford has consistently demonstrated team-focused and results-driven management, according to the company officials.   "Under ... (click for more)

Chattanooga Business Calendar For Feb. 28-March 6

March 2015   SA/28 24Hour Generator at Mad, Bad, and Dangerous 3:00 p.m. Girls Preparatory School: 205 Island Ave. 24Hour Generator is a new event designed for enterprising high school girls across the region. Hosted by The Company Lab (CO.LAB) and held as part of GPS’s inaugural  Mad, Bad, and Dangerous  event, 24Hour Generator ... (click for more)

Deputy Beaten After Vehicle Crashes In His Yard Sues Officers

A man who was mistakenly beaten by officers who had been pursuing a pickup truck that crashed into his home has sued Hamilton County and the officers for $700,000. Aaron Lucas Shelton and his wife, Heather Nicole Shelton, filed the suit in Circuit Court. Aaron Shelton is himself a deputy sheriff. It names Curtis Brian Killingsworth and unknown officers who allegedly took part ... (click for more)

Signal Council, Residents Concerned About Unsafe Driving En Route To Schools

The town council of Signal Mountain is dealing with a traffic problem caused by increased traffic to and from Signal Mountain Middle High School and Nolan Elementary. Mayor Dick Gee said, “This is a tough issue that we wouldn’t have to deal with if everyone would drive responsibly.” The main concern is for safety and in November the council agreed to try to fix the problem by ... (click for more)

Net Neutrality: The Beginning Of The End Or Just A New Beginning?

“The Internet is simply too important to be left without rules and without a referee on the field,” says Tom Wheeler, chairman of the Federal Communications Commission, “Today’s order is more powerful and more expansive than any previously suggested.”  The FCC’s vote for so-called Net Neutrality purports to allow the agency to regulate the Internet as a public utility.  ... (click for more)

Roy Exum: My Garden On March 1

As I try to do at the beginning of each month, I stroll through my garden to see the good and the bad. This morning there is still a solid covering of snow but, as usual, there is still a lot to see. March is historically known for “coming in like a lion and leaving like a lamb” so let’s see who gets what: A LAMB to the fact 90-year-old Floyd Hartwig of Easton, Calif., and his ... (click for more)