Mountain Commerce Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 23, 2023 at 02:00 pm
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Mountain Commerce Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 8 million compared to USD 12.95 million a year ago. Net income was USD 2.47 million compared to USD 5.32 million a year ago. Basic earnings per share from continuing operations was USD 0.4 compared to USD 0.86 a year ago. Diluted earnings per share from continuing operations was USD 0.4 compared to USD 0.85 a year ago.
For the nine months, net interest income was USD 25.25 million compared to USD 36.94 million a year ago. Net income was USD 7.29 million compared to USD 14.65 million a year ago. Basic earnings per share from continuing operations was USD 1.17 compared to USD 2.36 a year ago. Diluted earnings per share from continuing operations was USD 1.17 compared to USD 2.35 a year ago.
Mountain Commerce Bancorp, Inc. is a holding company. Its principal activity is the ownership and management of its wholly owned subsidiary Mountain Commerce Bank (the Bank). The Bank also owns a 100% interest in MCB Services, Inc. The Bank operates under a state bank charter and provides full banking services. The Bank provides a variety of financial services to individuals and corporate customers located primarily in Middle and Eastern Tennessee and the surrounding areas. The Bankâs primary deposit products include checking, savings, certificates of deposit and IRA accounts. Its primary lending products are one-to-four family residential, commercial real estate, commercial and industrial and consumer lending. The Bankâs services include treasury management solutions, remote deposit capture, online banking, e-statements, and others. The Bank focuses on responsive relationship banking for small-and medium-sized businesses, professionals, relationship-minded individuals, and others.
MOUNTAIN COMMERCE BANCORP, INC. 
