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. 

CBL Closes Long-Term Fixed-Rate Loan Secured By Ambassador Town Center

CBL & Associates Properties, Inc. on Thursday announced that it closed on a non-recourse $47.7 million loan secured by Ambassador Town Center in Lafayette, La. The seven-year loan bears a fixed interest rate of 3.22 percent and was provided by a new institutional lender. Proceeds from the loan were primarily used to retire the existing construction loans with an aggregate balance ... (click for more)

First Tennessee Bank Presents $50,000 Check To Ancla Insurance And Services

First Tennessee Bank’s Chattanooga Community Development Manager Tracee Smith and Cleveland Community President Mike Griffin presented Ancla Insurance and Services President Beth Underwood with a check in the amount of $50,000 at First Tennessee’s downtown office. The funds donated by First Tennessee will be used to enhance Ancla’s onsite computer lab and build on its lifestyle ... (click for more)

Preserving 90-Year-Old Grammar School Just One Of Challenges Facing Town, Signal Council Told

Rather than spend millions upgrading Signal Mountain ’s historic grammar school so it can continue to house the Mountain Arts Community Center (MACC), it would make more sense to incorporate that project into a larger multi-pronged one that would solve several issues facing the community, according to town manager Boyd Veal.   For example, Mr. Veal said, the current ... (click for more)

Firefighters Put Out Fire In Compost Pile At City's Wood Recycling Center

Chattanooga firefighters were called to a fire at the city's wood recycling center on N. Hawthorne Street around noon on Sunday. Battalion Chief Don Bowman said the smoke and flames could be seen from several miles away.   Firefighters with five fire companies worked to get the blaze under control, using master streams from two aerials and some hand-held hoselines. The ... (click for more)

Improvements Needed At Entrance To Wilcox Tunnel

I am writing this letter to bring to your attention to a city traffic issue that needs to be addressed immediately, the sooner the better. I can see no large cost factor.   Recently, while as a concerned citizen, removing trash and litter from the entry/exit area of the Wilcox Tunnel on the side that runs into Chamberlain Avenue, I fully realized that this area could ... (click for more)

Roy Exum: Looking For A Wife

Coeur d'Alene, Idaho, is a really cool place. I tried to buy a huge mounted buffalo head in an antique store there one time until I found out the shipping charges were four times what the head was worth. But suddenly my rapt attention is riveted on Coeur d'Alene again because a dazzling social experiment is taking place this very moment at a plush resort in north Idaho. Several ... (click for more)