Mountain Commerce Bank reports continued strong earnings for the first quarter 2014
JOHNSON CITY, TN—June 5, 2014— Mountain Commerce Bank (MCB) announced first quarter net income of $600,000.
Bill Edwards, President and CEO stated, “I am pleased to report continued earnings growth for the quarter ending March 31, 2014. In addition, we were able to attain significant loan growth the first quarter of 2014.”
MCB’s earnings were $600,000 for the first quarter of 2014. Net interest margin remained strong, averaging 4.13% for the quarter. Non-salary related operating expenses continue to be reduced as reflected in a $123,000 decrease from the same quarter last year.
About Mountain Commerce Bank:
Mountain Commerce Bank (MCB) is a state-chartered, FDIC-insured, century-old, privately held financial services institution serving Knoxville, Johnson City, and Unicoi County. Through Hometown Service and Smart Technology, MCB offers big bank products and services, with the personal attention and exceptional service of a hometown community bank.
At the end of March 2014, MCB had $349 million in total assets and $300 million in total deposits. MCB currently employs more than 60 individuals at five branches and one operations office. For more information, visit us at HYPERLINK “https://www.mcb.com” www.mcb.com or check your account any time at 1-866-MCB-1910. MCB is an equal opportunity employer.
