CapitalMark Records 14th Consecutive Quarterly Profit
Chattanooga, Tennessee – July 18, 2012 – CapitalMark Bank & Trust today reported earnings of $1.9 million for the second quarter ended June 30, 2012.
“We are pleased to report our 14th consecutive profitable quarter, a notable achievement in light of the sustained economic and regulatory hurdles facing our industry. Although CapitalMark’s earnings were supported by a one-time securities gain, our pre-tax income excluding the gain reflects growth of 9% for the quarter and 27% year-to-date when compared to the same periods last year. Our continued balance sheet growth places CapitalMark at a record $740 million in total assets. While we maintain steady growth, I want to underscore our conservative management reflected in the bank’s favorable credit quality metrics,” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.
CapitalMark Lands 5-Star Rating for 5th Consecutive Quarter
June 2012: BauerFinancial, Inc., the nation’s leading bank rating and research firm, is proud to recognize CapitalMark Bank & Trust as a 5-Star Superior bank. A 5-Star rating indicates that CapitalMark is one of the strongest banks in the nation. To earn this prestigious 5-Star rating, CapitalMark must excel in areas of capital quality, asset quality, profitability and much more. In fact, CapitalMark Bank & Trust has earned this 5-Star Superior rating for the latest 5 consecutive quarters.
CapitalMark Announces Capital Raise for Expansion
Chattanooga, Tennessee – June 5, 2012 – CapitalMark Bank & Trust announced today that the Board of Directors authorized a common stock offering of up to $10 million or 800,000 shares at an offering price of $12.50 per share. The stock will be available for purchase by existing shareholders and new investors beginning Monday, June 11th. CapitalMark is offering the stock primarily to fund its expansion, leading with new offices in Cleveland and Oak Ridge, Tennessee.
CapitalMark Profits Double
Chattanooga, Tennessee – April 12, 2012 – CapitalMark Bank & Trust today reported earnings for the first quarter ended March 31, 2012.
“We are pleased to report especially strong results for the quarter, with a doubling of net income when compared to our first quarter last year. Our credit quality, which compares favorably to our peers, continues to strengthen. Lastly, our solid earnings are supported by balance sheet growth that places CapitalMark at a record $710 million in total assets,” said R. Craig Holley, CapitalMark’s Chairman, President and CEO.
CapitalMark Declares First Common Stock Dividend
Chattanooga, Tennessee – February 23, 2012 – CapitalMark Bank & Trust announced today that the Board of Directors authorized a $.05 per share special one-time common stock dividend to be paid to stockholders of record at the close of business on February 23, 2012. The dividend is payable on March 15, 2012.
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%.
CapitalMark Achieves Small Business Lending Fund Success
Chattanooga, Tennessee – January 12, 2012 – CapitalMark Bank & Trust announces successful initial deployment of capital received through the Small Business Lending Fund (SBLF) with a 15% increase in lending as stated in a recent release by the Treasury. CapitalMark received a total of $18.2 million to lend to businesses with revenues up to $50 million. The SBLF, a component of the Small Business Jobs Act, was established to encourage banks with assets under $10 billion to increase lending to small businesses, thus stimulating new jobs and boosting economic growth. Only 41% of banks that applied to participate were approved with criteria based upon strength, stability and performance.
CapitalMark Records Earnings Increase
Chattanooga, Tennessee – October 27, 2011 – CapitalMark Bank & Trust today reported net income of $604,785 for the quarter, an increase of 5.41% over the third quarter 2010; for the nine-months ended, net income was $2.269 million, increasing 8.62% over the same period last year.
Andy Boyer Joins CapitalMark
Knoxville, TN – October 5, 2011 - CapitalMark Bank & Trust announces that Andy Boyer joins its Knoxville office as Executive Vice President and Director of Client Services serving the Oak Ridge and Maryville markets. “Experience tells me that clients are seeking an advisory relationship when it comes to banking, especially during tough economic times. Clients appreciate when their needs can be assessed and solved at a local level with solutions tailored specifically to them. By aligning one banker team per client and using both technology and courier services, the CapitalMark model simplifies and customizes the client’s banking experience,” Boyer reports.
Phil Barnes Leading CapitalMark’s Wealth & Trust Group
Chattanooga, TN – September 16, 2011 – CapitalMark Bank & Trust announces the addition of Phil Barnes who will lead CapitalMark’s Wealth & Trust group, which is approaching $100 million in total assets. Barnes stated: “CapitalMark’s model is oriented toward clients seeking a private-bank experience, and the Trust group is a perfect complement. Clients who require comprehensive advice regarding planning, estate or trust services will be well-served by a seasoned team collectively holding over 150 years’ industry experience and anchored by veteran advisor Al Secor. In an environment of bank consolidation, there is opportunity for both clients and our bank in the Trust arena. We continue to deliver a Wealth & Trust experience like the days of-old when consultations were in person and client relationships were cultivated over decades. Further, our approach in Wealth & Trust mirrors the close, advisory client experience delivered by our Banker Teams.”
CapitalMark Selected for Small Business Lending Fund
Chattanooga, Tennessee – September 13, 2011 – CapitalMark Bank & Trust was recently selected to participate in the Small Business Lending Fund (SBLF) and will receive $18.2 million in capital to lend to businesses with revenues up to $50 million. The SBLF, a component of the Small Business Jobs Act, was established to encourage banks with assets under $10 billion to increase lending to small businesses, thus stimulating new jobs and boosting economic growth. Only 41% of banks that applied to participate in the program were approved.