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. 

Sen. Alexander Urges TVA Not To Raise Tennesseans’ Electric Bills To Buy Power It Doesn’t Need

U.S. Sen. Lamar Alexander (R-Tenn.) urged the Tennessee Valley Authority (TVA) not to purchase power from the Clean Line Energy Partners’ proposed Plains and Eastern Clean Line wind energy transmission project, which would “carry comparatively more expensive, less reliable electricity to Tennessee and other southeastern states.” In a speech on the Senate floor, Alexander ... (click for more)

Big Creek Utility District Among Those Awarded Over $14.2 Million In Water And Wastewater Construction Loans

Big Creek Utility District was among those Governor Bill Haslam and Tennessee Department of Environment and Conservation Commissioner Bob Martineau announced Wednesday of three communities and two utility districts that have been approved to receive over $14.2 million in low-interest loans for water and wastewater infrastructure improvements.   “The State Revolving Fund ... (click for more)

City Council Winner Anthony Byrd Told He Cannot Continue Working At The County And Be On City Post; Resigns At Criminal Court Clerk's Office

Anthony Byrd, who upset City Council Chairman Moses Freeman in the District 8 council race, has been told that under the city charter he cannot remain on his county job and hold the city post. Mr. Byrd has worked in the Criminal Court Clerk's office for the past 22 years. Criminal Court Clerk Vince Dean said Mr. Byrd got the news of the ruling on Tuesday. He said, "No one ... (click for more)

Judges Say Judge Bales Has Not Signed Letter To Governor On Medical Disability; They Can't Find Him

General Sessions Court Judge Gary Starnes said fellow Judge David Bales apparently has not yet signed a letter to the governor saying he plans to take medical disability. Judge Starnes said, "We can't reach him. He does not answer any of our calls or texts." He added, "We are concerned about his well-being." Judge Bales last Friday, after a sit-down meeting with the other ... (click for more)

Repeal Obamacare, Congressman Fleischmann - And Response

Chuck: I'm writing to express my strong opposition to the plan that is being rolled out by Paul Ryan to replace Obamacare. And as I'm writing this, I'm remembering all the times you and all of your Republican colleagues over the last six years campaigned on REPEALING  Obamacare and used that call to action as the basis for your reelection. And I'm also remembering the ... (click for more)

Roy Exum: You, The Bald-Headed Lady

You were wearing a pretty sweat shirt and blue jeans when I saw you outside the Infusion Center at Erlanger Hospital on Wednesday. You were the one who was nearly bald and I was the guy you greeted with a huge smile as we said hello in passing. You reminded me exactly of my brother Franklin. Years ago when chemotherapy began to rob him of his hair, Franklin was pretty devastated ... (click for more)