CapitalMark Increases Net Income 104% Over Same Quarter Last Year

Thursday, April 24, 2014

 CapitalMark Bank & Trust on Thursday reported earnings for the first quarter ended March 31, including net income for the quarter of $1.7 million, which doubled from the first quarter of 2013. Net income per fully diluted common share also doubled from the same period last year to $0.21.

Craig Holley, CapitalMark’s chairman, president and CEO, said, “CapitalMark had another quarter of strong results fueled by exceptional loan growth of 31.

4% year-over-year. With a record $883 million in total assets, we continue to build core earnings capacity and an operating profile that positions CapitalMark to become a $1 billion bank.”

First quarter highlights were:

·         Net Income was $1.7 million for the first quarter 2014, increasing 103.7 percent year-over-year.

·         Net Income per fully diluted common share was $0.21 for the quarter representing a 110 percent increase year-over-year.

·         Loans increased $148 million over the same period last year totaling $620 million at quarter end.

·         Deposits increased to $751 million, or 10.2 percent year-over-year.

·         Non-interest bearing deposits grew 44.3 percent year-over-year and comprise 16.8% of total deposits. 

·         Total Assets grew to $883 million, or 11.8 percent over the first quarter 2013.

·         Total Operating Revenue grew $1.17 million or 16.4 percent year-over-year.

·         Tier 1 Leverage Ratio was 10.44 percent.

·         Non-interest expense decreased 1.1 percent when compared to the fourth quarter 2013.

·         Ratio of Past Due Loans  30 Days to Total Loans was 0.25 percent.

CapitalMark Bank & Trust is a full-service commercial bank with four private client offices throughout East Tennessee including Chattanooga, Cleveland, Knoxville and Oak Ridge. 

Hullco Heritage Foundation Presents Checks To First Tee Of Chattanooga And Hunter Worley Foundation

The Hullco Heritage Foundation continues to support children and families in the Chattanooga area by raising funds for The First Tee of Chattanooga and Hunter Worley Foundation. During the 2014 Hullco Heritage Foundation Event, $75,000 was raised. Since the inception of The Hullco Heritage Foundation in 2012 $160,000 has been raised. The funding is divided equally between the two ... (click for more)

Chicken Salad Chick Supports Chattanooga Area Food Bank With Fundraiser

Chicken Salad Chick of Chattanooga recently donated over $6,000 to the Chattanooga Area Food Bank following their Coupon Book Campaign during Hunger Action Month in September. Area Manager Jennifer Lawhorn and her team were committed to encouraging the sale of these Coupon Books in order to help fight local hunger. “It’s all about people helping people, giving back to the community ... (click for more)

Police Looking For Scruggs In Stabbing Of Man, Woman

Police are looking for 30-year-old Sean Michael Scruggs in the stabbing of a man and a woman. The victims were listed as Charde N. Joseph, 27, and Kameron Sales, 18. They suffered non-life threatening injuries. Warrants are on file for Scruggs for especially aggravated burglary, attempted murder, aggravated assault (domestic) and vandalism. The incident took place on ... (click for more)

Bobby Dodd Lawsuit Against City Moved To Federal Court

A lawsuit brought by former Chattanooga Police Chief Bobby Dodd against the city of Chattanooga and the Chattanooga Fire and Police Pension Fund over his pension has been moved to Federal Court. The lawsuit was earlier filed in Chancery Court by attorneys Jerry Tidwell and Adam Izell. The suit says former Chief Dodd opted for a plan that would have half of his pension go to ... (click for more)

Please Don't Close The Piccadilly Cafeteria At Hamilton Place - And Response

Oh, no. The Piccadilly Cafeteria at Hamilton Place is closing.  Its last day is Christmas Eve.  I will miss the great food they have there but most of all I will miss their servers, cashiers and waitresses.  They are all so friendly and accommodating.  They make it like it’s a home-style restaurant. I sure wish there was some way that Hamilton Place and ... (click for more)

Roy Exum: 10 Tasks For This Week

In 1993 a 95-year-old man named William Snell created a list called “Life’s Little Instructions.” His list has swirled around in the Internet ever since and it is, indeed, a delightful checklist to keep us focused in the right direction. Curiously, when I read over it this past weekend, it dawned on me that if each of us would try to accomplish just 10 items on Mr. Snell’s list ... (click for more)