Tennessee bank CapitalMark earnings up 14% in quarter

Tennessee bank CapitalMark earnings up 14% in quarter

July 28th, 2011 in Local - Breaking News

CapitalMark President and CEO Craig Holley discusses the bank at the lender's Broad Street office in this file photo.

CapitalMark Bank & Trust today reported that net income in the second quarter was up 14 percent over a year ago.

The Chattanooga bank said it earned $947,000, or 14 cents per share, in the three months that ended June 30. A year ago, CapitalMark earned the equivalent of 12 cents per share.

R. Craig Holley, CapitalMark's chairman, president and CEO, said the bank maintained its top ranking from BauerFinancial for strength, stability and performance and outperformed industry averages among its peer of 147 comparable banks.

"We continue to report positive results in the face of on-going economic and regulatory uncertainties," Holley said. "Our strong capital position and top-performing banker teams are key ingredients fueling our success."

Founded in 2007, CapitalMark has grown its assets to $427 million and its loan portfolio to $320 million. The bank operates in both Chattanooga and Knoxville.