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. 

TDEC Announces Public Hearing Dates For 2015-2025 Solid Waste And Materials Management Plan

The Tennessee Department of Environment and Conservation announced October public hearing dates in its process to develop the 2015-2025 Solid Waste and Materials Management Plan. Public participation activities for this planning process began in March with a series of four special focus meetings and continued in May with four public input meetings and one Web-based conference. ... (click for more)

Local Company Seeking Chase Bank Grant

AQQOLADE, a local professional services business, has applied for a $150,000 grant from Chase Bank as part of a newly launched program, Mission Main Street Grants. AQQOLADE has submitted a questionnaire outlining a business plan that will result in growth of the business and NEEDS AT LEAST 250 votes to be eligible for a grant. Clients, fans and community members can show ... (click for more)

Sharply-Divided City Council Approves Office Reorganization; Councilman Freeman Calls Move "Evil, Hellish"

A sharply-divided City Council on Tuesday voted 5-4 to completely reorganize the council office, leaving current staffers without a job down the road but with the option to reapply. Councilman Moses Freeman called the move "evil" and "hellish." He said, "We are punishing somebody on a personal level," though he said the office has been running smoothly. Saying the majority ... (click for more)

DA Sets Up Process To Review 120 Cold Cases Murders Dating Back 40 Years

District Attorney Neal Pinkston said at a morning press conference on Tuesday that he is setting up a process to review 120 cold case murders in Hamilton County dating back some 40 years. He said former city major crimes detective Mike Mathis will be working out of his office on the cases. He is familiar with most or all of the cases, it was stated. DA Pinkston said Sgt. Bill ... (click for more)

How To Reform The City Industrial Development Board - And Response (3)

My aims is to bring to the public’s attention the need for procedural changes that, if implemented, would significantly improve the information available the public, to the City Council and to the City Industrial Development Board about the verifiable benefits and costs of tax incentive financing structures and to make the entire process transparent. The public, the City ... (click for more)

Roy Exum: He Can Never Go Home

When Florida State quarterback Jameis Winston sparked top-ranked Florida State to a 56-41 comeback over N.C. State last Saturday, you would have thought the world had forgotten and virtually excused his vulgar rant from the week before. His inexcusable mid-week antics kept him sidelined during the Clemson game and brought down the nation’s scorn but less than a week later he was ... (click for more)