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) is the OTCQX‑traded holding company for Mountain Commerce Bank, a state‑chartered commercial bank headquartered in Knoxville, Tennessee. This news page aggregates company‑specific press releases and media coverage so readers can follow developments affecting the Bank and its holding company.
According to its disclosures, Mountain Commerce Bank focuses on responsive relationship banking for small- and medium-sized businesses, professionals, and relationship‑minded individuals in Middle and East Tennessee. News items often highlight how this community banking model translates into lending, deposit initiatives and branch activity across Brentwood, Erwin, Johnson City, Knoxville and Unicoi.
Visitors can expect regular updates on quarterly and annual financial results, including discussions of net interest income, net interest margin, loan yields, deposit costs, asset quality and capital ratios. The Company’s releases frequently include detailed tables of performance metrics and commentary from management on earnings trends and balance sheet strategy.
Other news topics include dividend declarations, share repurchase authorizations, changes to senior revolving lines of credit, and information about leadership and organizational changes within Mountain Commerce Bancorp and Mountain Commerce Bank. Announcements have also covered branch expansion, such as the opening of a Johnson City financial center, and promotions of key team members in regional and market leadership roles.
For investors, analysts and community stakeholders, this page offers a centralized view of how Mountain Commerce Bancorp communicates its financial performance, capital management, risk profile and community banking activities over time.
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.
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