KNOXVILLE, Tenn., June 3, 2021 /PRNewswire/ — Mountain Commerce Bancorp, Inc. (OCTQX: MCBI) introduced at present that—for the third consecutive yr—its subsidiary, Mountain Commerce Financial institution (MCB), earned a spot among the many high 200 publicly traded group banks in america as decided by American Banker journal. The annual rating is for group banks and thrifts with lower than $2 billion in property and was launched with the journal’s Could 2021 difficulty.
The rating—primarily based on a three-year common of every financial institution’s return on common fairness (ROAE)—positioned MCB at #47. The glory acknowledges the group financial institution as one in all solely 4 Tennessee-based banks to make the grade and secures MCB the one spot of any in East Tennessee. Over the past three years, MCB’s ROAE averaged 13.19%.
“ROAE is a monetary metric that measures profitability efficiency in relation to common shareholders’ fairness,” stated William E. (Invoice) Edwards III, the financial institution’s president and chief govt officer. “It’s indicative of the main focus we place on delivering a robust, constant return to our shareholders.”
About Mountain Commerce Bancorp, Inc. and its subsidiary Mountain Commerce Financial institution
Mountain Commerce Bancorp, Inc. is the holding firm of Mountain Commerce Financial institution. The Firm’s shares of widespread inventory commerce on the OTCQX below the image “MCBI.”
Mountain Commerce Financial institution is state-chartered monetary establishment that traces its historical past over a century and is headquartered in Knoxville, Tennessee, serving East Tennessee by 5 branches situated in Erwin, Johnson Metropolis, Knoxville, and Unicoi. The Financial institution focuses on relationship banking of small- and medium-sized companies and excessive net-worth people who worth the non-public service and a spotlight that solely a group financial institution can supply. For additional data, please go to us at www.mcb.com.
As of March 31, 2021, MCB had $1.15 billion in whole property and $107.3 million in whole shareholders’ fairness.
SOURCE Mountain Commerce Bancorp, Inc.