CapStar Issues Updated Financial Figures
12 Março 2023 - 4:05PM
CapStar Financial Holdings, Inc. (Nasdaq: CSTR), a bank holding
company with $3.1 billion in total assets, today reported updated
unaudited financial figures and reiterated its strong financial
position and well-diversified business mix in the wake of recent
industry developments.
“While the events of the past week are unfortunate, the impacted
institutions operated very unique business models which presented
unique risks. CapStar is a conservative and well-diversified
company with a history of solid performance and risk management. We
target and maintain a diverse business mix of established, known
customers that principally operate and live in our seven
communities. Importantly, we have no deposits, loans, or equity
investments related to cryptocurrency/digital-assets or fintech,”
said Timothy K. Schools, President and Chief Executive Officer of
CapStar. “We intentionally maintain a balanced and disciplined
approach to capital, liquidity, asset quality, and earnings, which
has proven to differentiate us during challenging operating
environments. I am extremely proud of our employees who continue to
provide outstanding service and assistance to customers as we all
work together to navigate the current inflationary period.”
- CapStar’s wholly-owned subsidiary, CapStar Bank, operates a
relationship-based business model offering traditional banking
services to a geographically and industry-diversified mix of small
to mid-sized businesses, their owners, professionals, individuals,
and real estate investors;
- No depositor or industry comprises a significant portion of
total deposits; as of year end, 53.7 percent of deposit accounts
were less than $250,000, which would rank CapStar 8th best among
the nation’s 100 largest banks and 2nd among the five largest
Tennessee-based banks by total assets, and another approximate 14
percent of deposits were collateralized or otherwise insured;
- Investment securities accounted for 12.9 percent of total
assets and nearly 100 percent were categorized as
available-for-sale, with associated unrealized losses recorded in
tangible common equity, as of February 28, 2023 with no sales,
purchases, or material value differences since that date;
- Loans held for investment are principally to CapStar-led,
established, in-market customers supported by strong collateral and
or guarantees with geographic, industry, and size
diversification;
- Capital remains strong with tangible common equity ratio and
common equity tier 1 risk-based capital ratio, adjusted for
unrealized investment security losses, of 9.8 and 10.5 percent
respectively, each of which is in excess of regulatory guidelines
for a “well-capitalized” institution as of February 28, 2023;
- Our liquidity position as of the close of business March 10,
2023 is:
- Cash held on balance sheet of $140 million
- Unpledged marketable investment securities of $175 million
- Loans held for sale of $30 million
- Brokered CD authorization of $541 million based on a
self-established internal policy of 20% of total deposits with $165
million of remaining issuance capacity
- Fully collateralized credit facility from the Federal Home Loan
Bank of Cincinnati of $518 million with $487 million of remaining
borrowing capacity
- Fully collateralized credit facility from the Federal Reserve
Bank of Atlanta of $316 million with $316 million of remaining
borrowing capacity;
- Asset quality remains excellent;
- CapStar has Bauer Financial’s highest 5-star rating, indicating
the Company is among the strongest banks in the nation.
For more information on CapStar’s financial position, review its
Form 10-K for the period ended December 31, 2022 which can be found
here.
ABOUT CAPSTAR FINANCIAL HOLDINGS, INC.CapStar
Financial Holdings, Inc. is a bank holding company headquartered in
Nashville, Tennessee and operates primarily through its wholly
owned subsidiary, CapStar Bank, a Tennessee-chartered state bank.
CapStar Bank is a commercial bank that seeks to establish and
maintain comprehensive relationships with its clients by delivering
customized and creative banking solutions and superior client
service. As of December 31, 2022, on a consolidated basis, CapStar
had total assets of $3.1 billion, total loans of $2.3 billion,
total deposits of $2.7 billion, and shareholders’ equity of $354.2
million. Visit www.capstarbank.com for more information.
For more information, contact:Michael J. FowlerChief Financial
Officer(615) 732-7404
CapStar Financial (NASDAQ:CSTR)
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