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. reports news as the OTCQX-traded holding company for Mountain Commerce Bank, a century-old state-chartered community bank based in Knoxville, Tennessee. The bank serves Middle and East Tennessee through branches in markets including Brentwood, Erwin, Johnson City, Knoxville and Unicoi, with a relationship-banking focus for small and medium-sized businesses, professionals and individual customers.
Recurring MCBI news covers quarterly operating results, net interest income, asset quality, capital ratios, cash dividends and expense trends. Company updates also include capital-management actions such as share repurchase authorizations, senior debt and revolving credit facilities, as well as governance and leadership changes at the holding company and bank level.
Mountain Commerce Bancorp (OTCQX: MCBI) released its Q2 2024 results and announced a quarterly cash dividend of $0.05 per share.
Key figures include a net interest margin improvement to 2.00%, net income of $2.32 million, and an earnings per share (EPS) of $0.37. The bank also reported a decline in noninterest expenses to 1.36% of average assets, with strong asset quality and liquidity.
For the six months ended June 30, 2024, net income was $3.84 million and EPS was $0.61. The company saw a decline in net interest income by 17.5% year-over-year, while noninterest income increased to $1.5 million from $0.8 million.
Key highlight was the opening of a new financial center in Johnson City, aiding potential growth in the TriCities market. The dividend is payable on September 2, 2024, to shareholders of record as of August 5, 2024.
Mountain Commerce Bank (MCB), a subsidiary of Mountain Commerce Bancorp, Inc. (OTCQX: MCBI), has opened its new Johnson City Financial Center on July 1, 2024. This is Johnson City's second MCB location, complementing the existing Bristol Highway office. The new two-story facility, strategically located at exit 17 off I-26, offers a wide range of personal and business banking services, including deposits, loans, mortgage products, wealth management, and investments.
The bank emphasizes its commitment to Responsive Relationship Banking, providing customers with dedicated bankers who are readily accessible and familiar with their needs. The new center features modern amenities, including an interactive teller machine (ITM) and drive-thru. A grand opening and ribbon-cutting ceremony is scheduled for August 22, 2024, from 11:00 a.m. to 1:30 p.m.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.