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.
CapStar Financial Holdings (CSTR) reported a net income of $6.4 million or $0.30 per diluted share for Q1 2023, down from $10.3 million or $0.47 per share in Q4 2022 and $10.7 million or $0.48 in Q1 2022. The annualized return on average assets was 0.83% and return on average equity 7.41%. The net interest margin decreased to 3.24%. Total revenue declined to $29.5 million from $31.2 million in the previous quarter. A key factor was a $2.0 million loss associated with Signature Bank's subordinated debt. CapStar also announced a 10% dividend increase, raising the quarterly dividend to $0.11 per share, payable on May 24, 2023.
CapStar Financial Holdings, Inc. (NASDAQ: CSTR) has announced its first quarter 2023 earnings release scheduled for April 20, 2023, after market close. The following day, April 21, 2023, at 10:30 a.m. Central Time, the company will host a conference call and webcast to discuss its financial results. Investors and analysts are invited to participate in a Q&A session post-discussion. For access to the call and the webcast, registration is required via the provided links in the release. This event is expected to provide insights into CapStar's financial performance and future outlook.
CapStar Financial Holdings, Inc. (Nasdaq: CSTR) reported its financial standing as of March 10, 2023, emphasizing its strong capital, liquidity, and asset quality amidst recent industry challenges. The company maintains a well-diversified business model, emphasizing traditional banking services without exposure to cryptocurrency or fintech. As of year-end, 53.7% of deposit accounts were under $250,000. The tangible common equity ratio stood at 9.8%, exceeding regulatory guidelines. CapStar's liquidity includes $140 million in cash and $175 million in marketable securities, with solid asset quality reflected in a 5-star Bauer Financial rating.
CapStar Financial Holdings, operating under the ticker CSTR, is participating in the Janney West Coast Bank CEO Forum from February 1-3, 2023. President and CEO Timothy K. Schools will represent the company at this significant event. Investors can access the presentation used at the forum via the Company’s Investor Relations section on its website at www.capstarbank.com.
As of December 31, 2022, CapStar held total assets of $3.1 billion, with total loans of $2.3 billion and total deposits of $2.7 billion, indicating solid financial health.
CapStar Financial Holdings reported a net income of $10.3 million or $0.47 per diluted share for Q4 2022, a rise from $8.0 million in Q3 2022 but a decline from $12.5 million in Q4 2021. For the full year, net income was $39.0 million, down from $48.7 million in 2021. The annualized return on average assets was 1.31% and return on average equity was 11.78%. Revenue increased to $31.2 million in Q4, with noninterest income rising to $6.3 million. The company maintained a strong loan pipeline exceeding $450 million, despite challenges in deposit pricing and operational losses. A quarterly dividend of $0.10 per share was declared.
CapStar Financial Holdings, Inc. (NASDAQ: CSTR) has announced it will release its fourth quarter 2022 earnings after the market closes on January 19, 2023. A conference call and webcast to discuss the financial results is scheduled for January 20, 2023, at 10:30 a.m. Central Time. Investors and analysts are invited to participate in a question-and-answer session following the presentation. The company, headquartered in Nashville, operates through its subsidiary, CapStar Bank, focusing on providing banking services across Tennessee.
NASHVILLE, Tenn., Dec. 09, 2022 - CapStar Financial Holdings (NASDAQ: CSTR) announced that President and CEO Timothy K. Schools will participate in the D.A. Davidson Southeastern Bank Summit on December 13, 2022. The investor presentation will be available on the Company's website before the event. As of September 30, 2022, CapStar had total assets of $3.2 billion, total loans of $2.3 billion, total deposits of $2.6 billion, and shareholders’ equity of $347.5 million.
CapStar Financial Holdings, based in Nashville, Tennessee, has announced that Timothy K. Schools, President and CEO, will attend the Hovde Financial Services Conference on November 3-4, 2022. The investor presentation will be accessible on their Investor Relations page before the event. As of September 30, 2022, CapStar holds total assets of $3.2 billion, total loans of $2.3 billion, total deposits of $2.6 billion, and shareholders’ equity of $347.5 million. For further details, visit www.capstarbank.com.
CapStar Financial Holdings (CSTR) reported a net income of $8.2 million ($0.37 per diluted share) for Q3 2022, down from $10.0 million ($0.45) in Q2 and $13.1 million ($0.59) in Q3 2021. The annualized return on average assets and equity were 1.03% and 8.93%, respectively. Key challenges included $2.1 million in losses from Tri-Net loans and operational losses of $2.2 million. Despite these setbacks, adjusted performance metrics showed revenue growth of $600,000 and a decline in expenses of $800,000, with net interest margin increasing to 3.50%. A quarterly dividend of $0.10 per share was approved.
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