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423 756 7878

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865 329 3500

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865 481 7800

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CapitalMark Posts Record $2 Million Quarter Profit

Chattanooga, Tennessee – October 4, 2012 – CapitalMark Bank & Trust today reported record earnings of $2.0 million for the third quarter ended September 30, 2012, and $5.4 million year-to-date, a record nine-months’ performance for the bank since its inception in 2007.

“We are pleased to report our 15th consecutive quarter of increased earnings, a notable achievement in light of sustained economic and regulatory pressures. Along with top-line growth, we demonstrate continued strengthening of profitability, driven by our unique and efficient banking model. It’s important to note that we continue to carefully manage credit risk, reflected in our favorable credit quality metrics,” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.

THIRD QUARTER HIGHLIGHTS:

  • Third quarter Net Income totals $2.0 million, up 238.7% over the same quarter last year.
  • Year-to-date Net Income totals $5.4 million, up 140.2% over the first nine-months 2011.
  • Net Income per fully diluted common share was $0.72 for the quarter, up from $0.32 in the same quarter 2011.
  • Total Assets were $761 million representing a 31.1% increase year-over-year.
  • Deposits totaled $660 million, a 30.5% increase over the third quarter 2011.
  • Gross Loans were $435 million representing growth of 29.4% year-over-year.
  • Tier 1 Leverage Ratio was 10.2%.
  • Non-Performing Assets to Total Assets Ratio decreased to 0.90% from 0.97% in the prior quarter.
  • Net Charge-offs to Average Loans was 0.12%.
  • Ratio of Past Due Loans > 30 Days to Total Loans was 0.42%.
  • Pre-tax income was $3.1 million with security gains of $921 thousand providing income from operations of $2.2 million for the quarter compared to a pre-tax income of $948 thousand with security gains of $166 thousand providing income from operations of $782 thousand for the same quarter 2011. 


Mr. Holley continued, “We are very pleased with the recently announced deposit market share data that reflect significant increases in both Chattanooga and Knoxville. Investors have a chance to buy CapitalMark stock through October 31st; this additional capital supports our expansion into Oak Ridge and Cleveland, with offices opening this month. The stock offering memorandum is available from any CapitalMark banker.”

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, Cleveland, Knoxville and Oak Ridge, 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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