Mountain Commerce Bank Receives Approval To Open Brentwood Branch

Rhea-AI Summary

Mountain Commerce Bank (MCBI) has received regulatory approval from the FDIC and TDFI to establish a new branch at 5205 Maryland Way in Brentwood, TN. The opening is set for the second quarter of 2022, marking the bank's expansion into the Nashville metro area, specifically Williamson County. This move aligns with the bank's strategy to offer responsive relationship banking in high-growth markets. As of December 2021, MCB reported total assets of $1.335 billion and total deposits of $1.108 billion.

Positive

• Received regulatory approval for a new branch in Brentwood, TN.
• Expansion into the Nashville metro market could boost customer base and deposits.
• Aligns with strategic goals of responsive relationship banking in high-growth areas.

Negative

• None.

KNOXVILLE, Tenn., March 3, 2022 /PRNewswire/ -- Mountain Commerce Bank (MCB), the subsidiary of Mountain Commerce Bancorp, Inc. (OTCQX: MCBI), announced it had received regulatory approval from the Federal Deposit Insurance Corporation (FDIC) and the Tennessee Department of Financial Institutions (TDFI) to open a branch at 5205 Maryland Way in Brentwood, TN. The branch is scheduled to open during the second quarter of this year.

"This expansion into the Nashville metro market, and specifically Williamson County, aligns with our strategy of providing responsive relationship banking to clients in high–growth markets," said William E. "Bill" Edwards III, MCB president and chief executive officer.

About Mountain Commerce Bancorp and its subsidiary Mountain Commerce Bank

Mountain Commerce Bancorp, Inc. is the holding company for Mountain Commerce Bank.  The company's shares of common stock trade on the OTCQX under the symbol "MCBI."

Mountain Commerce Bank is a state-chartered financial institution headquartered in Knoxville, TN. The bank traces its history back to 1910 and will serve middle and east Tennessee through 6 branches located in Erwin, Johnson City, Knoxville, Nashville and Unicoi. The bank focuses on providing responsive relationship banking to small- and medium-sized businesses, professionals and clients who value personal service and attention. For further information, please visit us at www.mcb.com.

At the end of December 2021, MCB had $1.335 billion in total assets and $1.108 billion in total deposits.

View original content:https://www.prnewswire.com/news-releases/mountain-commerce-bank-receives-approval-to-open-brentwood-branch-301495074.html

SOURCE Mountain Commerce Bancorp, Inc.

FAQ

What is the significance of Mountain Commerce Bank's new branch opening in Brentwood, TN?

The new branch enhances MCB's presence in the Nashville metro market, potentially increasing its customer base and market share.

When is the Brentwood branch of Mountain Commerce Bank scheduled to open?

The Brentwood branch is scheduled to open during the second quarter of 2022.

What were Mountain Commerce Bank's total assets and deposits as of December 2021?

As of December 2021, Mountain Commerce Bank had total assets of $1.335 billion and total deposits of $1.108 billion.

Which regulatory bodies approved Mountain Commerce Bank's new branch?

The FDIC and the Tennessee Department of Financial Institutions approved the new branch.

What is Mountain Commerce Bank's strategy for expansion?

MCB's strategy focuses on providing responsive relationship banking in high-growth markets.