CapitalMark grows, but profits down

CapitalMark grows, but profits down

April 27th, 2013 by Staff Report in Business Around the Region

Craig Holley, Chairman, President, and CEO of CapitalMark Bank & Trust

Photo by Dan Henry /Times Free Press.

CapitalMark Bank & Trust boosted its loans and deposits by double-digit levels from a year ago. But without the securities gains of a year ago, the Chattanooga bank reported a drop in first quarter earnings.

CapitalMark said Friday it earned $828,000 in the first three months of 2013, the 17th consecutive quarter of positive earnings.

"Few banks can stake this claim post-financial crisis," said R. Craig Holley, chairman and CEO of CapitalMark.

"Despite a weak economy and a competitive banking landscape, CapitalMark delivered a 21 percent increase in loans, demonstrating our ability to continue to build core earnings capacity."

CapitalMark grew its deposits in the past year by 10.1 percent to $682 million and increased its assets by 11.3 percent to $790 million.

In the past year, the bank opened new offices in Cleveland and Oak Ridge, added two new banker teams and completed a $10 million additional stock issue. The bank reported a $710,000 drop in securities gains compared with a year ago, however.

"We are poised for continued, strong growth over the next few years," Holley said.