The company reported net income of $1.2 million and earnings per diluted share of 16 cents.
These results reflect year-over-year top-line revenue growth of 15.2 percent and loan growth of 27.6 percent when compared to the same period last year.
“This marks another quarter of top-line revenue increases, driven by strong loan growth,” Chairman, President and Chief Executive Officer R. Craig Holley said. “Businesses and consumers continue to embrace our unique Banker Team model that offers clients a single-point-of-contact and unparalleled service.”
Third quarter highlights:
n Gross loans increased to $555 million, a 27.6 percent increase over the same period last year.
n Deposits increased to $686 million, a 4.0 percent increase year-over-year.
n Non-interest bearing deposits increased 33.1 percent to $112 million over the same period last year.
n Total assets grew to $798 million, or 5.0 percent over the third quarter 2012.
n Revenue growth increased 15.2 percent over the same nine-month period last year to $22.8 million.
n The net interest margin was 3.81 percent, an increase of 36 basis points from the third quarter 2012 and 15 basis points linked quarter.
n Net interest income before loan loss provision increased 13.8 percent year-over-year.
n Net income per fully diluted common share was 16 cents for the quarter.
n Tier 1 leverage ratio was 10.90 percent.
n Net charge-offs to average loans was 0.52 percent.
n The ratio of loans more than 30 Days past due to total loans was 0.04 percent.
n The non-performing assets to total assets ratio decreased to 0.68 percent from 0.72 percent in the prior quarter.
“In 2013, CapitalMark has produced steady balance sheet growth and favorable credit quality metrics,” Holley said. “We remain focused on our strategy of becoming a $1 billion bank by adding experienced Banker Teams who focus on understanding and meeting the needs of our clients.”