JOHNSON CITY, TN—October 30, 2013— Mountain Commerce Bank (MCB) announced third quarter year-to-date net income of $1,728,000.
Bill Edwards, President and CEO stated, “The Bank’s core earnings continue to grow, bolstered by a strong net interest margin and an ongoing focus on operating costs. The margin reflects our team’s commitment to top-quality service, while the operating costs are positively affected by MCB’s use of smart technology.”
MCB’s earnings for the third quarter of 2013 were $538,000. Net interest margin remained strong averaging 3.98% for the quarter; 4.07% year-to-date. Non-interest-bearing deposits increased $6.6 million over the same period last year.