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, Inc. (NASDAQ: CSTR) announced that it will release its third-quarter 2022 earnings on October 20, 2022, after market close. A conference call and webcast to discuss the financial results will take place on October 21, 2022, at 9:00 a.m. Central Time. Interested analysts and investors can participate in the Q&A session. Access details for the call and webcast are provided in the announcement, and an archived version will be available shortly after the live event.
CapStar Bank has appointed R. Chuck Hunt as Senior Vice President, Correspondent Banking Relationship Manager, effective immediately. Hunt will enhance business development and customer service as CapStar expands its correspondent banking division beyond Tennessee into Alabama, Arkansas, Mississippi, and Louisiana. With over 25 years in financial services, Hunt previously held a senior role at First Horizon Bank. CapStar Bank, valued at $3.1 billion, prioritizes a personalized banking experience for small to mid-sized businesses through 24 centers across Tennessee and North Carolina.
CapStar Financial Holdings, headquartered in Nashville, Tennessee, announced that its President and CEO, Timothy K. Schools, along with CFO Michael J. Fowler, will attend the Janney Community Bank CEO Forum from September 18-20, 2022. A detailed investor presentation will be available on the Company’s website before the event. As of June 30, 2022, CapStar reported total assets of $3.1 billion, with total loans at $2.2 billion and deposits at $2.6 billion. For further details, visit www.capstarbank.com.
CapStar Financial Holdings (CSTR) received notable recognition in Bank Director’s report, ranking #1 in Tennessee and #14 among all U.S. banks. This ranking reflects the company's balance of growth and profitability, long-term shareholder value, and sound execution. Timothy K. Schools, CEO, attributed this achievement to the commitment of employees and customer focus. CapStar has also recently earned accolades from S&P Global Market Intelligence and the Raymond James Community Bankers Cup, showcasing its strong position with total assets of $3.1 billion as of June 30, 2022.
CapStar Financial Holdings, Inc. (NASDAQ: CSTR) announced that CFO Michael J. Fowler will participate in the KBW Community Bank Investor Conference on August 1, 2022. The investor presentation will be accessible prior to the event on the Company's website.
As of June 30, 2022, CapStar reported total assets of $3.1 billion, total loans of $2.2 billion, total deposits of $2.6 billion, and shareholders’ equity of $357.7 million. CapStar aims to provide tailored banking solutions through its subsidiary, CapStar Bank, headquartered in Nashville, Tennessee.
CapStar Financial Holdings (NASDAQ:CSTR) reported net income of $10.0 million ($0.45 per diluted share) for Q2 2022, down from $10.7 million ($0.48) in Q1 2022 and $12.1 million ($0.54) in Q2 2021. YTD net income reached $20.6 million ($0.93 per diluted share), compared to $23.1 million ($1.04) last year. Key metrics showed a net interest margin of 3.41% and an efficiency ratio of 56.32%. Noninterest income fell by $3.2 million, impacted by lower mortgage and Tri-Net revenues. The company plans to strengthen its deposit-led culture amidst a challenging rate environment.
CapStar Bank, a subsidiary of CapStar Financial Holdings (NASDAQ: CSTR), is set to open a new full-service office in the historic James Building in Chattanooga in early August. This expansion is supported by the addition of four experienced local bankers, significantly enhancing the bank's regional presence. Within just eight months, CapStar's assets have grown to $200 million, achieving preprovision profitability in six months. The strategic hiring of seasoned professionals positions CapStar to leverage Chattanooga's growing market opportunities.
CapStar Bank, a subsidiary of CapStar Financial Holdings (NASDAQ: CSTR), has appointed Brennon Gomm as Senior Vice President and Commercial Relationship Manager. Gomm joins with 21 years of banking experience, previously serving at U.S. Bank where he was the top-ranked Commercial Relationship Manager. This strategic hiring aims to enhance CapStar's service to small and medium-sized businesses across Nashville Metro and increase deposit and loan growth. With this addition, the Nashville team now boasts 14 relationship managers, reflecting a proactive investment in the region.
CapStar Bank, a subsidiary of CapStar Financial Holdings (NASDAQ: CSTR), is expanding into Asheville, North Carolina, with Martin Nesbitt as the new Asheville Market President. This move aims to serve the local market of small to medium-sized businesses and individuals, amidst a historical decline of community banks in the area. Timothy K. Schools, CEO, emphasized significant growth in previous expansions, with Chattanooga and Knoxville nearing $400 million in assets. CapStar currently boasts $3.2 billion in assets, providing personalized banking services across 23 financial centers in Tennessee.
CapStar Financial Holdings, Inc. (CSTR) announced it will release its second quarter 2022 earnings after market close on July 21, 2022. A conference call and webcast will be held on July 22, 2022, at 9:00 a.m. Central Time to discuss the financial results, allowing analysts and investors to participate in a Q&A session. Interested participants can register for the live call or access a webcast on CapStar’s website.
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