NASHVILLE, Tennessee, March 12, 2023 (GLOBE NEWSWIRE) — CapStar Financial Holdings, Inc. (Nasdaq: CSTR), a bank holding company with $3.1 billion in total assets, today released its latest unaudited financial numbers. reported and reiterated its strong financial position. A well-diversified business mix following recent industry developments.
“While the events of last week were disappointing, the institutions affected operate very unique business models that pose unique risks. CapStar has a history of solid performance and risk management. , a conservative and well-diversified company, we target and maintain a diverse business mix of established and known customers who primarily operate and live in our seven communities Timothy K. Schools, President and Chief Executive Officer of CapStar, said: “We have a balanced and disciplined approach to capital, liquidity, asset quality and earnings. , which has proven to differentiate us in a difficult business environment. We are very proud of our employees who continue to provide service and assistance.”
- CapStar Bank, a wholly owned subsidiary of CapStar, is a relationship that provides traditional banking services to a diverse mix of geographies and industries of small to medium-sized businesses, their owners, professionals, individuals and real estate investors. based business model.
- No depositor or industry accounts for a significant portion of total deposits. At the end of the year, 53.7% of his savings accounts were under $250,000. This ranked CapStar 8th among the 100 largest banks in the United States and 2nd among the 5 largest Tennessee-based banks in terms of total assets, with approximately 14% of its deposits secured. or otherwise insured;
- As of February 28, 2023, investment securities represented 12.9% of total assets and nearly 100% were classified as available-for-sale, with related unrealized losses recorded in tangible common equity and subsequently sold. , purchase, or material value difference. date;
- Loans held for investment purposes are primarily to clients within established CapStar-led markets supported by strong collateral or guarantees with diversification in geography, industry and size.
- Common Equity Tier 1 risk-based capital ratios, adjusted for tangible common equity ratio and unrealized investment guarantee losses, were 9.8% and 10.5%, respectively, each exceeding regulatory guidelines for “well-capitalized” institutions; Equity capital remains strong. As of February 28, 2023.
- The liquidity position as of the close of business on March 10, 2023 is as follows:
- $140 million in cash on balance sheet
- $175 million of unsecured marketable investment securities
- $30M Loan-For-Sale
- Brokered $541 million in CD approvals under internal policy of 20% of self-established total deposits, with remaining issuance capacity of $165 million
- Fully secured line of credit of $518 million from the Federal Home Loan Bank of Cincinnati with remaining borrowing capacity of $487 million
- Fully secured line of credit of $316 million from the Federal Reserve Bank of Atlanta and remaining borrowing capacity of $316 million.
- Asset quality remains excellent.
- CapStar received Bauer Financial’s highest five-star rating, demonstrating that the company is one of the strongest banks in the country.
Please review Form 10-K for the period ended December 31, 2022 for more information on CapStar’s financial condition.
About Capstar Financial Holdings
CapStar Financial Holdings, Inc. is a bank holding company headquartered in Nashville, Tennessee and operates primarily through its wholly owned subsidiary, CapStar Bank, a chartered state bank of Tennessee. CapStar Bank is a commercial bank that seeks to establish and maintain comprehensive relationships with its customers by providing customized and creative banking solutions and superior customer 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. For more information, please visit www.capstarbank.com.
For more information, please contact:
Michael J. Fowler
CFO
(615) 732-7404
