Mountain Commerce Bank in Erwin, Tennessee (TN)

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Mountain Commerce Bank
GeneralFDIC Certificate #: 4931
Status: Active
Federal Reserve ID: 1016231
Bank Holding Company (Regulatory Top Holder): Mountain Commerce Bancorp, Inc. (RSSDID: 3416965, Location: Erwin, TN)
Date Established: January 01, 1910
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 12534
FDIC's unique #: 3275
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: July 23, 2007
Last Structure Change Process Date: July 26, 2007
Last Data Update: July 26, 2007
Data Source Date: April 05, 2012
LocationAddress: 201 South Main Street, Erwin, TN 37650
County: Unicoi
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Knoxville
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Johnson City-Kingsport-Bristol, TN-VA (#3660)
Combined Statistical Area (CSA): Johnson City-Kingsport-Bristol (Tri-Cities), TN-VA (#304)
Core Based Statistical Area (CBSA): Johnson City, TN (#27740)
CBSA Metro Statistical Area: Johnson City, TN (#27740)
History of ChangesChange in Trust Powers
Financial SummaryTotal assets: $328.1 mil
Equity capital: $24.1 mil
Deposits held in domestic offices: $291.7 mil
Return on assets (ROA): -2.61% (-$8.6 mil)
Quarterly return on assets: -10.71% (-$35.1 mil)
Return on Equity (ROE): -30.31% (-$7.3 mil)
Quarterly return on equity: -128.25% (-$30.8 mil)
Net income: -$9.1 mil
Quarterly Net income: -$9.1 mil
Pretax return on assets: -1.56% (-$5,118.7 mil)
Quarterly Pretax return on assets: -6.32% (-$20,737.1 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)72
Total assets$328,119
Cash and due from depository institutions$19,947
Interest-bearing balances$16,403
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$258,368
Loan loss allowance $6,405
Trading account assets$0
Bank premises and fixed assets$9,901
Other real estate owned$8,402
Goodwill and other intangibles$555
All other assets$7,612
Life insurance assets$328,119
Total liabilities and capital$303,995
Total liabilities$291,739
Total deposits$256,873
Interest-bearing deposits$291,739
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$11,436
Other borrowed funds $0
Subordinated debt $820
All other liabilities $24,124
Total equity capital$24,124
Total bank equity capital$24,124
Perpetual preferred stock$0
Common stock$338
Undivided profits $-18,597
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $533
Income earned, not collected on loans $11,223
Earning assets $35
Long-term assets (5+ years) $1,155
Average Assets, year-to-date $298,105
Average Assets, quarterly $91,117
Volatile liabilities $347,870
Insider loans $339,608
FHLB advances $254,161
Loans and leases held for sale $331,396
Unused loan commitments $3,985
Tier 1 (core) risk-based capital $3,985
Tier 2 risk-based capital $23,293
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $20,535
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $16,664
Total interest expense $4,000
Net interest income $12,664
Provision for loan and lease losses $6,054
Total noninterest income -$1,673
Fiduciary activities $0
Service charges on deposit accounts $241
Trading account gains & fees $0
Additional noninterest income -$1,914
Total noninterest expense $10,828
Salaries and employee benefits $5,345
Premises and equipment expense $1,729
Additional noninterest expense $3,754
Pre-tax net operating income -$5,891
Securities gains (losses) $448
Applicable income taxes $3,627
Income before extraordinary items -$9,070
Extraordinary gains - net $0
Net income attributable to bank -$9,070
Net charge-offs $0
Cash dividends -$9,070
Sale, conversion, retirement of capital stock, net $6,358
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.29%
Cost of funding earning assets 1.27%
Net interest margin 4.02%
Noninterest income to earning assets -0.53%
Noninterest expense to earning assets 3.44%
Net operating income to assets -2.74%
Return on assets (ROA) -2.61%
Pretax return on assets -1.56%
Return on equity (ROE) -30.31%
Retained earnings to average equity (YTD only) -30.31%
Net charge-offs to loans 2.31%
Credit loss provision to net charge-offs 95.22%
Efficiency ratio0.03%
Assets per employee$97,343
Cash dividends to net income (YTD only)4.56%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.42%
Noncurrent assets plus other real estate owned to assets 57.07%
Noncurrent loans to loans 5.98%
Net loans and leases to deposits4.24%
Net loans and leases to core deposits 88.56%
Equity capital to assets 101.73%
Core capital (leverage) ratio 7.35%
Tier 1 risk-based capital ratio 7.03%
Total risk-based capital ratio 9.16%
Average assets$10
Average earning assets$347,870
Average equity $29,923
Average loans $314,746
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Total Fiduciary and Related Assets (December 31, 2007)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$364
Number of Accounts1
Personal trust and agency accounts$364
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$126
Investment management agency accounts$0
Other fiduciary accounts$238
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts2
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
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6 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03275Mountain Commerce Bank201 South Main Street, Erwin, TN 37650January 01, 1910Full Service Brick and Mortar
1205596Unicoi Branch4200 Unicoi Drive, Unicoi, TN 37692December 21, 1995Full Service Brick and Mortar
4471467Mountain Commerce Bank, Morristown Branch2657 West Andrew Johnson Highway, Morristown, TN 37814Febuary 11, 2008Full Service Brick and Mortar
5476097Main Street Branch400 North Main Street, Erwin, TN 37650May 27, 2008Full Service Brick and Mortar
6479085Bristol Hwy Branch3122 Bristol Hwy, Johnson City, TN 37601July 23, 2007Full Service Brick and Mortar
7496432Cedar Bluff Road Branch320 North Cedar Bluff Road, Suite 101, Knoxville, TN 37923September 02, 2009Full Service Brick and Mortar
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