Holding company for Mountain Commerce Bank, Mountain Commerce Bancorp Inc’s (OTCMKTS:MCBI) shares trade on the OTCQX under the symbol “MCBI.”A state-chartered financial institution with headquarters in Knoxville, TN, Mountain Commerce Bank has a history tracing back to more than a century. It serves middle and east Tennessee through six branches located in Erwin,Brentwood, Johnson City, Knoxville, and Unicoi. The bank has focus on responsible relationship banking for professionals, small- and medium-sized businesses, affluent individuals and also those valuing the personal service and attention offered only by a community bank.
Trading Data
On Monday, MCBI stock ended flat at $28.03 with more than 20K shares, compared to its average volume of 2.8K shares. The stock moved within a range of $28.00 – 28.03 after opening trading at $28.
Mountain Commerce Bancorp, Inc. Announces Second Quarter 2022 Results And Increase in Quarterly Cash Dividend
Mountain Commerce Bancorp Inc on July 25, 2022, announced earnings and related data for the three- and six-months ending June 30, 2022. The bank also announced that the Board of Directors declared a quarterly cash dividend of $0.155 per common share, demonstrating 3.3% increase from $0.15 cash dividend per common share declared in the prior quarter. This is the company’s sixth consecutive quarterly dividend increase. The dividend is payable by September 1, 2022.
The company had an adjusted net income of $5909 in 2022 as compared to $4639 in the previous year. Its Return on average equity was 20.47% as compared to 16.75% in the previous year. Its Diluted earnings per share increased to $0.95 in 2022 from $0.74 as compared to the year ago. For the six months, the firm’s net income was $11.492 as compared to $8952 in 2021. It witnessed an efficiency ratio of 41.14 % for the six months in 2022 vis-à-vis 41.56% in 2021. The company’s non performing assets reduced from $1859 in 2021 to $1839 in 2022. All the units indicated are dollars in thousands.
Joshua R. Marsh Joins Mountain Commerce Bank’s Nashville Office in Brentwood, TN
Mountain Commerce Bancorp Inc on May 9, 2022, announced that Joshua R. Marsh has joined the Nashville office in Brentwood, TN as senior vice president as well as the senior relationship manager. With more than 18 years of financial sector experience, Marsh was recently a senior vice president in commercial real estate lending for Pinnacle Financial Partners. In his tenure, Marsh was one of the top-performing relationship managers in the institution. Before PNFP, Marsh served in same capacity for almost a decade with BB&T, where he also finished its management development program.
Mountain Commerce Bank President and Chief Executive Officer Bill Edwards expressed delight on announcing Josh Marsh joining the Brentwood office. Edwards added that Josh represents important addition of veteran talent joining the team and the presence will augment ability to give Mountain Commerce Bank’s characteristic ‘Responsive, Relationship Banking’ to customers in greater Nashville area.Marsh graduated with honors from University of Tennessee, having also earned a Master of Business Administration degree with a concentration in finance.
