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.
Mark Niethammer, Director of Government Guaranteed Lending at CapStar Bank, has been selected for the inaugural Future Leading Lenders Program by the National Association of Government Guaranteed Lenders (NAGGL). Out of 50 candidates, he is one of only 12 chosen. The program, lasting nine months, aims to foster future leaders in the 7(a) industry. Niethammer's leadership has expanded the division to 38 states, establishing CapStar as a top five 7(a) lender in Tennessee, and a leader in PPP loans during the COVID-19 pandemic.
CapStar Financial Holdings (CSTR) announced it will release its second quarter 2021 earnings after market close on July 22, 2021. A conference call and webcast is scheduled for 9:00 a.m. CT on July 23, 2021, where financial results will be discussed. Analysts and investors are invited to participate in the Q&A session. The call can be accessed via telephone or through CapStar's website, where an archived version of the webcast will also be available.
CapStar Bank, a subsidiary of CapStar Financial Holdings (NASDAQ: CSTR), has appointed Heather Anderson as a Mortgage Loan Officer focusing on the Nashville market. With over 20 years of experience and a recognized top producer since 2002, Anderson joins from Pinnacle Financial Partners. CapStar aims to enhance its mortgage banking team in Tennessee, underscoring its commitment to superior customer service and personal banking experiences. CapStar operates with assets of $3.15 billion and serves clients through 22 financial centers across 12 counties.
On May 3, 2021, CapStar Financial Holdings (NASDAQ: CSTR) announced upcoming participation in notable investor events. Key executives, including President and CEO Tim Schools, will represent the company at:
- Gulf South Bank Conference on May 4, 2021
- D.A. Davidson Financial Institutions Conference on May 6, 2021
- Piper Sandler Investor Day on May 7, 2021
- Truist Financial Services Conference on May 25–26, 2021
Investors can access the presentation materials on the company’s website prior to each event.
CapStar Bank has appointed Christopher G. Tietz as Chief Credit Policy Officer and Executive Vice President of Specialty Banking, enhancing its leadership structure. Tietz, who has been with the bank since 2016, will oversee credit policy, portfolio monitoring, and strategic planning for various banking sectors. Additionally, Kevin L. Lambert has been hired as Chief Credit Officer to manage credit underwriting. The bank aims to capitalize on growth opportunities in its specialty businesses, supported by experienced leadership, as highlighted by President Timothy K. Schools.
CapStar Financial Holdings reported a strong net income of $11.0 million, or $0.50 per diluted share, for Q1 2021, compared to $1.3 million, or $0.07 per diluted share in Q1 2020. The company’s annualized return on average assets was 1.45% and return on average tangible equity was 14.85%. The board approved a 20% increase in quarterly dividends to $0.06 per share, payable on May 26, 2021. The capital ratios exceeded industry medians, with approximately 30% of assets in cash and investments, indicating strong financial positioning.
CapStar Financial Holdings, Inc. (NASDAQ: CSTR) will release its first quarter 2021 earnings on April 22, 2021, after market close. A conference call and webcast are scheduled for April 23, 2021, at 11:00 a.m. Central Time, where analysts and investors can discuss the financial results and participate in a Q&A session. The call can be accessed via telephone or through an online webcast available on CapStar’s investor relations website.
CapStar Bank, a subsidiary of CapStar Financial Holdings (NASDAQ: CSTR), has appointed Tiffany Martin as Vice President and Commercial Relationship Manager focusing on Rutherford and Williamson counties. Martin brings extensive experience in commercial banking, having previously served as Vice President at Fourth Capital Bank. This strategic hiring aligns with CapStar's commitment to enhance its banking services in growing local economies, providing targeted support to privately owned businesses and real estate investors.
CapStar Financial Holdings, Inc. (NASDAQ: CSTR) announced a new share repurchase program authorizing the buyback of up to $30 million of its common stock, set to remain until December 31, 2021. This program replaces the expired authorization and aims to enhance return on tangible common equity and shareholder value. CEO Timothy K. Schools expressed confidence in the company's credit and long-term prospects despite a challenging environment. The repurchase timing will depend on market conditions and may occur through open market or private transactions.
CapStar Bank, a subsidiary of CapStar Financial Holdings (NASDAQ: CSTR), has appointed Emmanuel (Manny) Loreant as Senior Vice President and Commercial Relationship Manager for the greater Nashville area. Loreant, who has extensive experience in commercial banking, will focus on serving privately owned businesses and real estate investors. He previously held leadership roles at Reliant Bank and Bank of America. CapStar Bank, with assets of $2.98 billion, is recognized for its customer service in small business banking, emphasizing a personalized banking experience across Tennessee.
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