CapStar Financial Holdings, Inc. - CSTR STOCK NEWS

Welcome to our dedicated page for CapStar Financial Holdings news (Ticker: CSTR), a resource for investors and traders seeking the latest updates and insights on CapStar Financial Holdings stock.

CapStar Financial Holdings, Inc. (NASDAQ: CSTR) is a comprehensive bank holding company headquartered in Nashville, Tennessee. Operating through its primary subsidiary, CapStar Bank, a Tennessee-chartered state bank, CapStar offers an array of financial services tailored to meet the needs of both businesses and consumers. With a focus on small and mid-size business lending, robust treasury management services, and 24/7 customer support, CapStar ensures a seamless banking experience. Consumers benefit from personalized loan and deposit services, wealth management, mortgage products, and the convenience of online banking and mobile app services such as PeoplePay direct payment.

Recent Achievements
In the second quarter of 2023, CapStar reported total revenue of $28.8 million, with net interest income of $22.6 million and noninterest income of $6.2 million. The company demonstrated strong asset growth with a $48.8 million increase in average earning assets, attributed to a 7% linked-quarter annualized increase in loans held for investment. Despite facing intense market competition, CapStar has adeptly managed liquidity and maintained a focus on generating strong deposit growth. As of July 19, 2023, customer deposit balances grew by $76.5 million and insured or collateralized deposits improved to 75.5%.

Current Projects
CapStar focuses on liquidity management by curtailing lending on commercial real estate investment properties and enhancing deposits. They also maintain strong lending capabilities in robust markets. The company's efficiency ratio was 66.61% for the quarter ended June 30, 2023. They identified approximately $3.0 million in annualized expense reductions, with partial implementation in late June and the rest anticipated throughout the second half of 2023.

Financial Health and Partnerships
CapStar remains strongly capitalized, with equity of $347.5 million and tangible equity of $302.1 million as of June 30, 2023. Regulatory capital ratios, such as Leverage Ratio at 11.05% and Common Equity Tier I ratio at 12.40%, well exceed the 'well-capitalized' thresholds. Book value per share of common stock was $16.64, with a tangible book value per share of $14.47. The company returned $8.3 million to shareholders in the second quarter of 2023 through share repurchases and dividends.

Community Support
CapStar's commitment to community involvement is evident in its active support for the regions it serves. The bank strives to enhance its clients' banking experiences through a high-tech, high-touch approach, ensuring that personal attention and accessible technology meet every client’s needs.

For the latest financial results and investor information, CapStar will host a conference call at 10:00 a.m. Central Time on Friday, July 21, 2023. Interested parties can access the live call and participate in the question-and-answer session by registering here. A webcast will be available at this link, with an archived version accessible shortly after the live call.