CapitalMark Bank & Trust reported earnings of $1.5 million for its second quarter, which ended June 30.
"We're pleased to report 18 consecutive quarters of positive earnings despite heightened regulatory pressures and a slow growth economy,” said R. Craig Holley, CapitalMark's chairman, president and CEO. “CapitalMark delivered strong quarterly revenue and gross loan growth, ultimately bolstering our core earnings capacity and increasing the long-term value of the company."
Second quarter highlights included:
- Gross loans increasing $116 million to $518 million, or 28.7 percent over the same period last year.
- Deposits increasing $26 million to $669 million, a 4.0 percent increase year-over-year.
- Total assets growing to $775 million, or 4.7 percent over the second quarter 2012.
- Operating income net of loan provision increasing by $1.2 million, representing an 8.3 percent growth year-over-year.
- Net income totaling $2.4 million for the six months ending June 30.
- Tier 1 leverage ratio hitting 10.86 percent.
- Net charge-offs to average loans being 0.42 percent.
- There being no loan payments more than 30 days past due.
- Non-performing assets to total assets ratio decreasing to 0.72 percent from 0.74 percent in the prior quarter.
"CapitalMark is primed for future growth as we continue to operate well above the regulatory capital requirements,” Holley said. “Our newest full-service offices, located in Cleveland and Oak Ridge, and two additional banker teams added in the first quarter of 2013 position CapitalMark for continued growth. as they remain focused delivering CapitalMark's unique and efficient banking model to clients in their respective markets."
CapitalMark Bank & Trust is a full-service commercial bank with four private client offices in Chattanooga, Cleveland, Knoxville and Oak Ridge.
The company’s banker teams serve the needs of privately owned businesses, their owners and managers, as well as professionals, executives and their families. Services offered include mortgage and trust and wealth management.
For more information, visit www.capitalmark.com.