Mountain Commerce Bancorp, Inc. Announces Fourth Quarter 2024 Results And Quarterly Cash Dividend

1. MCBI declared a $0.05 quarterly dividend, its seventeenth consecutive dividend. 2. Net interest margin improved to 2.29% in Q4 2024, indicating rising profitability. 3. Non-performing loans to total loans decreased to 0.09%, signaling improved asset quality. 4. MCBI reported net income of $2,092K for Q4 2024, up from a loss in Q4 2023. 5. Tangible common equity to tangible assets ratio increased to 7.58% as of Dec 2024.

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Why Bullish?

MCBI's improved dividend and earnings results reflect strong operational performance, akin to previous positive trends contributing to stock appreciation.

How important is it?

Strong financial metrics and a consistent dividend track record enhance investor confidence, vital for MCBI's stock performance.

Why Short Term?

Investors may react positively to current results in the near term, similar to past quarterly reports boosting stock performance quickly.

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MCBI

Mountain Commerce Bancorp, Inc. Announces Financial Results

KNOXVILLE, Tenn., Jan. 21, 2025 /PRNewswire/ -- Mountain Commerce Bancorp, Inc. (the "Company") (OTCQX: MCBI), the holding company for century-old Mountain Commerce Bank (the "Bank"), today announced results and related data as of and for the three and twelve months ended December 31, 2024.

The Company also announced today that its Board of Directors declared a quarterly cash dividend of $0.05 per common share, its seventeenth consecutive quarterly dividend. The dividend is payable on March 3, 2025, to shareholders of record as of the close of business on February 3, 2025.

Management Commentary

William E. "Bill" Edwards, III, President and Chief Executive Officer of the Company, commented as follows:

"We continued to see further improvements in our net interest margin which improved from 2.08% in the third quarter of 2024 to 2.29% in the fourth quarter of 2024, and finished the year at 2.38% for the month of December..."

Highlights

The following tables highlight the trends that the Company believes are most relevant to understanding the performance of the Company as of and for the three and twelve months ended December 31, 2024.

For the Three Months Ended December 31:

2024	2023	GAAP	Adjusted (1)
Net income	$2,092	$2,481	$(376)
Diluted earnings per share	$0.33	$0.39	$(0.06)

For the Twelve Months Ended December 31:

2024	2023	GAAP	Adjusted (1)
Net income	$8,923	$7,940	$6,914
Diluted earnings per share	$1.42	$1.26	$1.11

Forward-Looking Statements

This press release contains forward-looking statements. The words "expect," "intend," "should," "may," "could," "believe," "suspect," "anticipate," "seek," "plan," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical fact may also be considered forward-looking...

About Mountain Commerce Bancorp, Inc.

Mountain Commerce Bancorp, Inc. is the holding company for Mountain Commerce Bank. The Company's shares of common stock trade on the OTCQX under the symbol "MCBI".