CapitalMark Bank & Trust has reported an increase in profits for its first quarter.
The Chattanooga-based banking company said profits totaled $682,457, up from the $119,480 in the same quarter last year.
In March, the bank also celebrated its third anniversary by exceeding $400 million in total assets.
“Despite the incredibly challenging economic and banking environment, CapitalMark’s first quarter results represent a notable improvement over the same period in 2009,” said R. Craig Holley, CapitalMark chairman, president and CEO. “Although credit quality remains under pressure for the industry, we continue to successfully navigate the challenges and outperform most of our peers.”
He also said that “capital will remain a dominate theme in the industry and CapitalMark improved all capital ratios quarter-over-quarter.” He said the bank’s capital levels exceed “those for well-capitalized banks under applicable regulatory guidelines.”