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. 

MAU To Host Automotive Assemblers Hiring Event Next Week

MAU is hiring Automotive Assemblers at a state-of-the-art automotive supplier in Chattanooga. The Chattanooga office will host an "instant interview" hiring event this Monday and Wednesday, from 9 a.m.-2 p.m. The office is located at 6150 Shallowford Road, Suite 104. (click for more)

Barto Receives State Award For Work On City Of Colledgedale

The Tennessee Chapter of The American Planning Association held its State convention in Chattanooga this week at the convention center. At the Friday morning breakfast awards ceremony David Barto, director of the Colledgedale Tomorrow Foundation was awarded the 2015 Planning Advocate Award for the work that David Barto and Colledgedale Tomorrow has done in promoting planning ... (click for more)

Toddler Killed In Car Accident On Boy Scout Road Friday Morning

A toddler was killed in an auto accident Friday morning.  Hamilton County Sheriff’s deputies responded to an accident with injuries at the 1000 block of Boy Scout Road at approximately 11 a.m. on Friday. Upon arrival, deputies found a single car accident involving four passengers. Three of the four passengers were transported to a local hospital and the ... (click for more)

Triple Murder Suspect, Top 10 Most Wanted Fugitive, Captured In New Orleans

Less than a day after being placed on the Tennessee Bureau of Investigation’s Top 10 Most Wanted list, Daniel Lee Henry was captured Saturday night in New Orleans, La.  Shortly after 8:30 CST, Henry, 38, was taken into custody without incident at a hotel by authorities from the United States Marshals Service Task Force, which includes law enforcement officers from the New ... (click for more)

We Can Do Something About Mass Shootings - And Response

A friend posted his observation this morning that there was paranoia about reasonable gun laws. I know his heart is saying we have to do something about these mass shootings. Then while scanning the morning news shows I watched a pile o’ pundits from Al Sharpton to Donald Trump pontificate on doing “something” about the problem. Personally, I think there are plenty of gun control ... (click for more)

Roy Exum: How We Learned To Play

A couple of years ago I was reading a fascinating story that asserted the “Little Rascals” taught generations of children how to play with each other. When the comedy show about children in a poor neighborhood originated in 1922, there were just silent movies but in 1929, when the “talkies” were introduced, children and adults alike were mesmerized by the wonderful humor that producer ... (click for more)