Buoyed by additional capital and two new offices, CapitalMark Bank & Trust nearly doubled its profits in 2012.
The Chattanooga-based banking firm reported Thursday it earned $6.75 million, or 88 cents per share, last year. In 2011, CapitalMark earned $3.4 million, or 46 cents per share.
R. Craig Holley, CapitalMark's CEO, called 2012 "an exceptional year" with the sale of $10 million of additional stock and the opening of bank offices in Oak Ridge and Cleveland, Tenn.
"Our growth initiatives, fueled by our accomplished Banker Teams spanning four East Tennessee markets, are producing the top-line revenue results that show our unique model is being replicated effectively," Holley said in a statement.
Assets grew by 18 percent last year, to $781 million.
CapitalMark recently was highlighted by American Banker magazine as one of four U.S. banks to watch among banks started five years ago.
Founded March 5, 2007, CapitalMark has locations in Chattanooga, Cleveland, Knoxville and Oak Ridge.