CryptoStar Corp. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Earnings & Profitability: Q4 2021 EPS was $0.56, up from $0.53 in Q3 2021. Annual EPS for 2021 was $2.19. Return on tangible common equity (ROTCE) was 15.2% for Q4 and 15.45% for 2021. Adjusted ROTCE, assuming industry-average capital levels, would be nearly 19%.
  • Net Interest Income & Margin: Q4 net interest income was $23 million, flat versus Q3. Net interest margin (NIM) was 3.14%, up 2 bps from Q3. Adjusted NIM was 3.40%. The increase was driven by loan growth, rising rates, and continued PPP fee income.
  • Loan Growth & Pipeline: Total loans (excluding PPP) reached record levels, growing $109 million QoQ or 23.7% annualized. PPP balances declined to $26.5 million. Q4 saw $1 billion in annualized loan production, accelerating from $674 million in 2020.
  • Deposit Growth: Average deposits of $2.7 billion remained near record highs. DDA balances also strong. Deposit cost held flat at 19 bps. CapStar maintains a deposit-first culture.
  • Non-Interest Income: Continued strength in fee income with Tri-Net generating ~$4 million in Q4. Other contributors included SBA, debit card & interchange. Mortgage income declined due to seasonality.

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Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. The machine-assisted output provided is partly edited and is designed as a guide.: Operator: 00:03 Good morning, everyone and welcome to CapStar Financial Holdings' Fourth Quarter 2021 Earnings Conference Call. Hosting the call today are CapStar -- from CapStar are Tim Schools, President and Chief Executive Officer; Denis Duncan, Chief Financial Officer, and Chris Tietz, Chief Credit Policy Officer. Please note that today's call is being recorded. A replay of the call and the earnings release and presentation materials will be available on the Investor Relations page of the company's website at capstarbank.com. 00:35 During this presentation, we may make comments, which constitute forward-looking statements within the meaning of the federal securities laws. All forward-looking statements are subject to risks and uncertainties and other factors that may cause the actual results and the performance or achievements of CapStar to differ materially from those expressed or implied by such forward-looking statements. 00:57 Listeners are cautioned not to place undue reliance on forward-looking statements. A more detailed description of these and other risks, uncertainties, and factors are contained in CapStar's public filings with the Securities and Exchan

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