Chattanooga
423 756 7878

Cleveland
423 478 6540

Knoxville
865 329 3500

Oak Ridge
865 481 7800

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CapitalMark Reports Earnings Increase

Chattanooga, Tennessee – January 26, 2012 – CapitalMark Bank & Trust today reported net income of $1.132 million for the quarter, an increase of 8.53% over the fourth quarter 2010. For the year-ended, net income was $3.401 million increasing 8.59% over the prior year. As a new bank, CapitalMark became taxable in 2011. On a pre-tax basis, to provide a meaningful comparison to the prior year, earnings increased 54.19%.

“We are pleased to report strong results for the quarter and the year with an especially notable pre-tax earnings increase of 54.19%. We continue to navigate carefully the protracted challenges facing our industry. Our earnings are supported by balance sheet growth that places CapitalMark at a record $662 million in total assets,” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.

2011 AND FOURTH QUARTER HIGHLIGHTS:

  • Net income of $3.401 million increased 8.59% over 2010.
  • On a pre-tax basis net income increased 54.19% year-over-year.
  • Net income per fully diluted common share was $0.14 for the quarter and $0.46 for the year.
  • Total Assets were $662 million, representing a 42.68% increase year-over-year.
  • Deposits totaled $573 million, a 41.14% increase over 2010 year-end.
  • Loans were $363 million, a 10.58% increase year-over-year.
  • Tier 1 Leverage Ratio was 11.30%.
  • Non-Performing Assets to Total Assets Ratio declined to 1.24% from 1.60% in the prior quarter.

Mr. Holley noted, “During the fourth quarter, CapitalMark announced its intention to launch offices in Oak Ridge and Cleveland, Tennessee. I’m pleased to announce that our regulatory application was recently approved, which clears the path for our seasoned Banker Teams serving those markets.”

“As we move into 2012, Asset Quality as well as Capital remain top priorities. We will continue to work to maintain a strong balance sheet and we remain focused on building shareholder value,” Mr. Holley added. 

About CapitalMark Bank & Trust:

CapitalMark Bank & Trust offers a wide range of banking and trust services to businesses and individuals. Founded March 5, 2007, CapitalMark has locations in Chattanooga and Knoxville and received regulatory approval to open offices in Oak Ridge and Cleveland, TN. Additional information about CapitalMark and its full line of products and services can be found at www.capitalmark.com.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based upon management’s belief as well as assumptions made by, and information currently available to, management pursuant to “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Our actual results may differ materially from the results anticipated in forward-looking statements due to a variety of factors, including governmental monetary and fiscal policies, deposit levels, loan demand, loan collateral values, securities portfolio values, interest rate risk management, the effects of competition in the banking business from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market funds and other financial institutions operating in our market area and elsewhere, including institutions operating through the Internet, changes in governmental regulation relating to the banking industry, including regulations relating to branching and acquisitions, failure of assumptions underlying the establishment of reserves for loan losses, including the value of collateral underlying delinquent loans, and other factors. We caution that such factors are not exclusive. We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, us.

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