Welcome to our dedicated page for Mountain Comm news (Ticker: MCBI), a resource for investors and traders seeking the latest updates and insights on Mountain Comm stock.
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 has reauthorized a stock repurchase program allowing it to buy back up to $5 million of its common shares through March 31, 2023. The buyback aims to manage capital levels and enhance shareholder returns, with flexibility in execution based on stock performance and market conditions. CEO Bill Edwards emphasized the strategy's potential to provide liquidity and long-term value to shareholders. However, the program can be modified or suspended at the Company's discretion, depending on various factors.
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.
Mountain Commerce Bancorp (MCBI) reported its earnings for Q4 and the full year ended December 31, 2021, with net income at $5.1 million for Q4 and $23.6 million for the year, representing a significant year-over-year increase. The Board declared a quarterly cash dividend of $0.145, a 4% increase, payable on March 1, 2022. The company experienced robust asset growth, with total assets increasing by 20.3%. The non-performing loans ratio improved to 0.17% from 0.19% year-over-year, reflecting strong asset quality. Adjusted earnings per diluted share rose to $0.83 from $0.67.
Mountain Commerce Bancorp (MCBI) reported a strong financial performance for Q3 2021, achieving a net income of $5.6 million, up from $1.9 million in Q3 2020. Diluted earnings per share increased to $0.90, reflecting a 25% rise from the prior year. The company's board declared a quarterly cash dividend of $0.14 per share, marking a 4% increase and payable on December 1, 2021. Total assets surged by 16.6% year-over-year to $1.294 billion, driven by a notable rise in cash deposits and loans. Non-performing loans decreased significantly, indicating improved asset quality.
Mountain Commerce Bancorp reported strong financial performance for Q2 2021, with a net income of $8.03 million, a significant increase from $1.52 million in Q2 2020. Diluted earnings per share rose to $1.28 from $0.24 year-over-year. The quarterly cash dividend was declared at $0.135 per share, up 4% from the previous quarter, payable on September 1, 2021. Total assets increased by 11.5% to $1.238 billion, driven by growth in loans and deposits. Return on equity improved to 29% from 6.32% year-over-year, reflecting operational efficiency and strong credit quality.
Mountain Commerce Bancorp (OTCQX: MCBI) expands into Nashville and Middle Tennessee with the addition of Andrew Barrett as senior vice president and Samuel Stevenson as credit analyst. Barrett brings over 10 years of experience in commercial banking, focusing on private and commercial business development. Stevenson, with expertise in various lending types, will support MCB's portfolio in the region. This expansion is highlighted by a commitment to Responsive Relationship Banking, aiming to enhance the bank's presence in high-growth markets.
Mountain Commerce Bancorp's subsidiary, Mountain Commerce Bank, has been recognized as one of the top 200 publicly traded community banks in the U.S. by American Banker magazine for the third consecutive year. Ranking at #47, this accolade is based on a three-year average return on average equity (ROAE), which stood at 13.19%. MCB is notable as one of only four Tennessee-based banks in the ranking and the sole representative from East Tennessee, highlighting its commitment to delivering strong returns to shareholders.
The board of Mountain Commerce Bancorp (OTCQX: MCBI) has announced the election of Alvin J. Nance and Ernest D. Campbell to its board of directors. Nance, CEO of LHP Capital, brings extensive experience in affordable housing development, while Campbell, owner of Ernest Campbell Development, has over 20 years in general contracting and real estate. Their appointments are seen as significant for guiding the company forward, according to CEO William E. Edwards III.
Mountain Commerce Bancorp (MCBI) reported a strong Q1 2021, with net income of $4.86 million, a 13% increase year-over-year. Diluted EPS rose to $0.77, reflecting a 7% gain. The Board declared a quarterly cash dividend of $0.13, marking a 4% rise from the previous quarter, payable on June 1, 2021. Net interest income surged 30.2% to $10 million, driven by a 21.3% increase in average interest-earning assets. Despite a slight rise in non-performing assets to 0.27%, the allowance for loan losses remains robust at 774.46% of non-performing loans.
Mountain Commerce Bancorp has authorized a $5 million stock repurchase program to enhance shareholder value through liquidity management and improved returns. The program is valid until March 31, 2022, allowing the company to repurchase shares in the open market or private transactions. CEO Bill Edwards expressed confidence in the stock's current valuation as an attractive investment. The program's implementation depends on stock performance and market conditions.
