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Mountain Commerce Bancorp, Inc. (MCBI) delivers trusted community banking services across Tennessee with over 100 years of operational excellence. This page provides investors and stakeholders with centralized access to official company announcements, financial disclosures, and strategic developments.
Track MCBI's latest earnings reports, leadership updates, and regulatory filings alongside insights into its relationship-driven banking model. Our curated news feed ensures you stay informed about loan portfolio performance, dividend decisions, and initiatives supporting local businesses.
Key updates include quarterly financial results, branch network expansions, risk management practices, and community impact programs. All content is verified through primary sources to maintain accuracy and compliance with financial reporting standards.
Bookmark this page for real-time access to MCBI's evolving story as it continues balancing traditional banking strengths with modern financial service demands in Middle and East Tennessee markets.
Mountain Commerce Bancorp, operating as MCBI, announced its Q1 2023 results, revealing a net income of $2,358K, down from $4,765K in Q1 2022. Diluted earnings per share also dropped to $0.38 from $0.77 year-over-year. The company declared a quarterly cash dividend of $0.16 per common share, marking its tenth consecutive dividend, payable on June 1, 2023. Despite a challenging interest rate environment that reduced the net interest margin to 2.55% from 3.68%, the bank maintained strong asset quality with non-performing assets at 0.04%. Total assets increased by $97.9 million to $1.698 billion. The Company added liquidity through borrowings and experienced minimal impacts from recent banking sector turmoil.
Mountain Commerce Bancorp (MCBI) reported its earnings for Q4 2022 with a net income of $3.8 million, down from $5.1 million in Q4 2021. The diluted earnings per share (EPS) decreased to $0.61 from $0.82 a year earlier. The Board declared a quarterly cash dividend of $0.16 per share, payable on March 1, 2023, to shareholders of record by February 6, 2023, marking the ninth consecutive quarterly dividend. Notable challenges included a decline in net interest margin from 3.66% to 3.15% due to increased funding costs and lower noninterest income, which fell to $0.3 million from $0.6 million year-over-year.
Mountain Commerce Bank (MCB) recently broke ground on its new Johnson City Financial Center, a two-story banking facility expected to open in mid-2024. The project is part of MCB's strategy to enhance its presence in Johnson City and includes advanced features like touch-screen technology stations and traditional teller services. Additionally, MCB is relocating its Operations Center and introducing a new Interactive Teller Machine (ITM) by Q2 2023 to improve customer service access. These developments reflect MCB's commitment to relationship banking in East Tennessee.
Mountain Commerce Bancorp (MCBI) reported strong earnings for Q3 2022, with net income of $5.3 million and a diluted earnings per share of $0.85. The Board declared a quarterly cash dividend of $0.16, marking a 3.2% increase from the prior quarter. The company also witnessed growth in net interest income, reaching $12.9 million, up 13.6% year-over-year. Non-performing loans decreased to 0.10% of total loans, reflecting improved asset quality. The bank's total assets grew to $1.567 billion, a 17.4% increase from last year, bolstered by strong demand for loans and deposits.
Mountain Commerce Bancorp (OTCQX: MCBI) announced a new senior revolving line of credit totaling $20 million, replacing an existing $10 million term loan due April 10, 2023. The new credit line matures on August 1, 2025 at a prime rate minus 0.50%, with interest-only payments due quarterly. A 0.10% fee incurs if the balance drops below $10 million. The company aims to utilize this credit to support its banking operations and general corporate purposes.
Mountain Commerce Bancorp (MCBI) announced strong quarterly earnings as of June 30, 2022, with a net income of $4.57 million, surpassing last year's $4.64 million. The diluted earnings per share rose to $0.73, up from $0.74. The Board declared a quarterly dividend of $0.155, a 3.3% increase over the previous dividend. Net interest income rose 17.8% to $12.3 million, driven by a growth in interest-earning assets. However, a fraudulent wire loss of $825,000 was reported, highlighting some financial risks. The company remains well-capitalized with improving asset quality metrics.
On May 9, 2022, Mountain Commerce Bancorp (OTCQX: MCBI) announced the appointment of Joshua R. Marsh as a senior vice president and senior relationship manager at its Brentwood, TN office. Marsh, with 18 years of financial services experience, previously worked at Pinnacle Financial Partners and BB&T, enhancing Mountain Commerce Bank's regional presence in Nashville. His expertise aims to strengthen the bank's commitment to 'Responsive, Relationship Banking' for clients in the area. Mountain Commerce Bank serves middle and east Tennessee through several branches.
