KNOXVILLE, Tennessee., June 3, 2021 / PRNewswire / – Mountain Commerce Bancorp, Inc. (OCTQX: MCBI) today announced that for the third year in a row, its subsidiary, Mountain Commerce Bank (MCB), has been ranked among the top 200 listed community banks on the stock market United States as determined by American banker magazine. The annual ranking is for community banks and savings banks with less than $ 2 billion in assets and was published with the magazine May 2021 problem.
The ranking, based on a three-year average of each bank’s return on average equity (ROAE), places MCB in 47th place. This honor recognizes the community bank as one of the four Tennessee– Bank-based to take note and secure MCB the only place of everything in East Tennessee. Over the past three years, MCB’s ROAE has averaged 13.19%.
“ROAE is a financial metric that measures profitability relative to average equity,” said William E. (Bill) Edwards III, president and chief executive officer of the bank. “This is a testament to our focus on delivering strong and consistent performance to our shareholders.”
About Mountain Commerce Bancorp, Inc. and its subsidiary Mountain Commerce Bank
Mountain Commerce Bancorp, Inc. is the holding company of Mountain Commerce Bank. The common shares of the Company trade on the OTCQX under the symbol “MCBI”.
Mountain Commerce Bank is a state-chartered financial institution that traces its history over a century and is headquartered in Knoxville, Tennessee, in the service East Tennessee through five branches located in Erwin, Johnson Town, Knoxville, and Unicoi. The Bank focuses on relationship banking services for small and medium-sized businesses and high net worth individuals who value the personalized service and attention that only a community bank can provide. For more information, please visit us at www.mcb.com.
From March 31, 2021, MCB had $ 1.15 billion in total assets and $ 107.3 million in total equity.
SOURCE Mountain Commerce Bancorp, Inc.