CapitalMark boosts profits

CapitalMark boosts profits

January 27th, 2012 by Staff and Wire Reports in Business Around the Region

CapitalMark boosts profits

CapitalMark Bank & Trust said Thursday its pretax earnings for 2011 jumped by 54 percent, boosting net income for the Chattanooga banking firm for the year to $3.4 million, or 46 cents per share.

In the fourth quarter, CapitalMark earned $1.13 million, or 14 cents per share, and boosted year-end assets to $662 million. CapitalMark CEO Craig Holley said the bank recently received regulatory approval to open new branch offices in Cleveland and Oak Ridge, Tenn.

Dalton plant to add output

DALTON, Ga. - Authorities say they plan to double the output of a solar facility in Dalton.

Georgia Power officials say the initial phase of the plant went online March 25, 2011, and is now at a capacity of about 350 kilowatts.

The company said in a statement that construction on the second phase is expected to begin by the end of January and become operational by late March.

The first two phases will consist of more than 3,100 fixed-tilt solar panels and will provide a combined capacity of about 700 kilowatts.

The plant is being built by United Renewable Energy LLC. The project is designed up to one megawatt of capacity.