MCBI - Mountain Commerce Bank Lands At #43 On American Banker Magazine's Annual List Of Top 200 Publicly Traded Community Banks
KNOXVILLE, Tenn., June 12, 2020 /PRNewswire/ -- Mountain Commerce Bancorp, Inc. (OCTQX: MCBI) announced today that—for the second consecutive year—its subsidiary, Mountain Commerce Bank (MCB), earned a place among the top 200 publicly traded community banks in the United States as determined by American Banker magazine. The annual ranking is for community banks and thrifts with less than $2 billion in assets and was released with the magazine's May 2020 issue.
The ranking—based on a three-year average of each bank's return on average equity (ROAE)—placed MCB at #43, up from its 96th-place showing last year. The honor recognizes the local community bank as one of just a handful of Tennessee-based banks to make the grade and secures MCB the only spot of any in East Tennessee.
"ROAE is a financial metric that quantifies profitability performance in relation to the average shareholders' equity," said William E. (Bill) Edwards III, the bank's president and chief executive officer. "It's a measure of a management team's ability to generate income from the equity available to it."
Over the last three years, MCB's ROAE averaged 12.59%, a reflection of the bank's financial stability and strength, but also its wise business strategy.
"It's truly an honor to be included again in American Banker magazine's annual listing," Edwards stated. "Moving up the ladder as we did is an indication that MCB's strategy of super-serving our clients is both sound and effective, and we aim to continue to do just that every day."
About Mountain Commerce Bancorp, Inc. and its subsidiary Mountain Commerce Bank:
Mountain Commerce Bancorp, Inc. is the holding company of Mountain Commerce Bank. The Company's shares of common stock trade on the OTCQX under the symbol "MCBI."
Mountain Commerce Bank is state-chartered financial institution that traces its history over a century and is headquartered in Knoxville, Tennessee, serving East Tennessee through five branches located in Erwin, Johnson City, Knoxville, and Unicoi. The Bank focuses on relationship banking of small- and medium-sized businesses and high net-worth individuals who value the personal service and attention that only a community bank can offer. For further information, please visit us at www.mcb.com.
As of March 31, 2020, MCB had $997.4 million in total assets and $94.4 million in total shareholders' equity.
SOURCE Mountain Commerce Bancorp, Inc.