Mountain Commerce Bancorp : Q4 Mountain Commerce Bancorp, Inc. Financials - UNAUDITED

Assets

Cash and due from banks Interest-earning deposits in other banks

Cash and cash equivalents

Investments available for sale

Equity securities

Loans held for sale

Loans receivable

Allowance for loans losses

Net loans receivable

Premises and equipment, net

Accrued interest receivable

Real estate owned

Bank owned life insurance

Restricted stock

Deferred tax assets, net

Other assets

Total assets

Liabilities and Shareholders' Equity

Noninterest-bearing

Interest-bearing

Wholesale

Total deposits

FHLB / FRB borrowings

Senior debt, net

Subordinated debt, net

Accrued interest payable

Post-employment liabilities

Other liabilities

Total liabilities

Total shareholders' equity

Total liabilities and shareholders' equity

Mountain Commerce Bancorp, Inc. and Subsidiary Condensed Consolidated Balance Sheets (Amounts in thousands)

	December 31,		September 30,		December 31,
	2021		2021		2020
$	10,655	$	12,393	$	14,287
	57,932		121,565		58,081
	68,587		133,958		72,368
	155,916		112,067		77,290
	7,074		4,602		3,630
	315		512		418
	1,070,532		1,011,624		935,482
	(10,524)		(9,854)		(13,313)
	1,060,008		1,001,770		922,169
	17,211		16,059		11,438
	3,395		2,810		4,247
	-		-		-
	9,600		9,555		7,435
	5,951		5,951		2,951
	2,784		2,059		3,611
	4,088		4,635		4,413
$	1,334,929	$	1,293,978	$	1,109,970
$	308,176	$	314,426	$	208,250
	665,760		622,846		585,631
	133,918		107,712		128,015
	1,107,854		1,044,984		921,896
	75,000		100,000		50,000
	11,995		12,495		13,994
	9,828		9,814		9,778
	398		258		495
	3,330		3,223		2,992
	5,463		5,798		6,974
	1,213,868		1,176,572		1,006,129
	121,061		117,406		103,841
$	1,334,929	$	1,293,978	$	1,109,970

	Mountain Commerce Bancorp, Inc. and Subsidiary
	Condensed Consolidated Statements of Income
	(Amounts in thousands, except share data)
		Three Months Ended		Twelve Months Ended
		December 31,		December 31,
		2021	2020		2021	2020
Interest income
Loans	$	11,415	11,057	$	44,250	41,978
Investment securities - taxable		837	455		2,530	1,573
Investment securities - tax exempt		104	90		366	249
Dividends and other		129	98		325	448
		12,485	11,700		47,471	44,248
Interest expense
Savings		217	252		885	2,260
Interest bearing transaction accounts		123	64		367	517
Time certificates of deposit of $250,000 or more		70	471		587	2,288
Other time deposits		73	424		583	2,471
Total deposits		483	1,211		2,422	7,536
Senior debt		96	103		434	498
Subordinated debt		164	188		655	305
FHLB & FRB advances		39	161		377	465
		782	1,663		3,888	8,804
Net interest income		11,703	10,037		43,583	35,444
Provision for (recovery of) loan losses		675	-		(2,625)	7,500
Net interest income after provision for (recovery of) loan losses		11,028	10,037		46,208	27,944
Noninterest income
Service charges and fee income		333	299		1,316	1,168
Bank owned life insurance		45	33		166	133
Realized gain on sale of investment securities available for sale		41	7		44	2
Unrealized gain (loss) on equity securities		(33)	48		32	108
Gain on sale of loans		43	72		350	218
Impairment of premises and equipment		-	(500)		-	(544)
Wealth management		174	120		637	472
Swap fees		-	-		-	256
Other noninterest income		4	9		47	64
		607	88		2,592	1,877
Noninterest expense
Compensation and employee benefits		3,419	2,746		10,706	9,567
Occupancy		395	343		1,449	1,337
Furniture and equipment		105	118		500	435
Data processing		437	368		1,688	1,401
FDIC insurance		147	122		498	426
Office		217	156		740	588
Advertising		64	51		251	230
Professional fees		226	194		1,006	836
Real estate owned expense (benefit)		(56)	33		75	327
Other noninterest expense		581	261		1,516	1,592
		5,535	4,392		18,429	16,739
Income before income taxes		6,100	5,733		30,371	13,082
Income taxes		994	1,225		6,749	2,912
Net income	$	5,106	4,508	$	23,622	10,170
Net income available to common shareholders	$	5,029	4,508	$	23,424	10,170
Earnings per common share:
Basic	$	0.81	0.72	$	3.75	1.63
Diluted	$	0.81	0.72	$	3.75	1.62
Weighted average common shares outstanding:
Basic		6,190,656	6,256,753		6,241,541	6,251,249
Diluted		6,216,662	6,259,415		6,253,879	6,264,135