falsedesktopCSTR2020-09-30000156459020050784{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Tennessee\t81-1527911\n(State or other jurisdiction of incorporation or organization)\t(IRS Employer Identification No.)\n1201 Demonbreun Street Suite 700 Nashville Tennessee (Address of principal executive offices)\t37203 (zip code)\n", "q10k_tbl_1": "Large Accelerated Filer\t☐\tAccelerated Filer\t☒\nNon-Accelerated Filer\t☐\tSmaller Reporting Company\t☒\n\t\tEmerging Growth Company\t☒\n", "q10k_tbl_2": "Item\t\tPage\nPART I - FINANCIAL INFORMATION\t\t5\nItem 1.\tConsolidated Financial Statements\t5\n\tConsolidated Balance Sheets as of September 30 2020 (Unaudited) and December 31 2019\t5\n\tConsolidated Statements of Income (Unaudited) for the three and nine months ended September 30 2020 and 2019\t6\n\tConsolidated Statements of Comprehensive Income (Unaudited) for the three and nine months ended September 30 2020 and 2019\t7\n\tConsolidated Statements of Changes in Shareholders' Equity (Unaudited) for the nine months ended September 30 2020 and 2019\t8\n\tConsolidated Statements of Cash Flows (Unaudited) for the nine months ended September 30 2020 and 2019\t10\n\tNotes to Consolidated Financial Statements (Unaudited)\t11\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t35\nItem 3.\tQuantitative and Qualitative Disclosures about Market Risk\t48\nItem 4.\tControls and Procedures\t48\nPART II - OTHER INFORMATION\t\t49\nItem 1.\tLegal Proceedings\t49\nItem 1A.\tRisk Factors\t49\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t50\nItem 6.\tExhibits\t51\nSIGNATURES\t\t52\n", "q10k_tbl_3": "\tSeptember 30 2020\t\n\t(unaudited)\tDecember 31 2019\nAssets\t\t\nCash and due from banks\t39917\t17726\nInterest-bearing deposits in financial institutions\t416008\t83368\nFederal funds sold\t0\t175\nTotal cash and cash equivalents\t455925\t101269\nSecurities available-for-sale at fair value\t308337\t213129\nSecurities held-to-maturity fair value of $2526 and $3411 at September 30 2020 and December 31 2019 respectively\t2413\t3313\nLoans held for sale includes $112002 and $30740 measured at fair value at September 30 2020 and December 31 2019 respectively\t198603\t168222\nLoans\t1906603\t1420102\nLess allowance for loan losses\t(23167)\t(12604)\nLoans net\t1883436\t1407498\nPremises and equipment net\t27728\t19184\nRestricted equity securities\t13625\t13689\nAccrued interest receivable\t9814\t5792\nGoodwill\t41068\t37510\nCore deposit intangible net\t9154\t6883\nOther real estate owned net\t171\t1044\nOther assets\t74074\t59668\nTotal assets\t3024348\t2037201\nLiabilities and Shareholders' Equity\t\t\nDeposits:\t\t\nNon interest-bearing\t716707\t312096\nInterest-bearing\t791601\t607211\nSavings and money market accounts\t604495\t506692\nTime\t504739\t303452\nTotal deposits\t2617542\t1729451\nFederal Home Loan Bank advances\t10000\t10000\nSubordinated notes\t29418\t0\nOther liabilities\t33493\t24704\nTotal liabilities\t2690453\t1764155\nShareholders' equity:\t\t\nCommon stock voting $1 par value; 25000000 shares authorized; 21947805 and 18361922 shares issued and outstanding at September 30 2020 and December 31 2019 respectively\t21948\t18362\nAdditional paid-in capital\t246847\t207083\nRetained earnings\t58296\t46218\nAccumulated other comprehensive income net of income tax\t6804\t1383\nTotal shareholders' equity\t333895\t273046\nTotal liabilities and shareholders' equity\t3024348\t2037201\n", "q10k_tbl_4": "\tThree Months Ended\t\tNine Months Ended\t\n\tSeptember 30\t\tSeptember 30\t\n\t2020\t2019\t2020\t2019\nInterest income:\t\t\t\t\nLoans including fees\t22796\t21005\t61620\t62596\nSecurities:\t\t\t\t\nTaxable\t1193\t1028\t3465\t3540\nTax-exempt\t343\t354\t975\t1093\nFederal funds sold\t0\t1\t0\t26\nRestricted equity securities\t139\t183\t421\t584\nInterest-bearing deposits in financial institutions\t171\t645\t640\t1502\nTotal interest income\t24642\t23216\t67121\t69341\nInterest expense:\t\t\t\t\nInterest-bearing deposits\t640\t2102\t3371\t5523\nSavings and money market accounts\t2537\t1944\t4819\t5445\nTime deposits\t1299\t1887\t4197\t5917\nFederal funds purchased\t0\t0\t0\t4\nSecurities sold under agreements to repurchase\t0\t0\t0\t5\nFederal Home Loan Bank advances\t116\t127\t348\t1281\nSubordinated notes\t394\t0\t394\t0\nTotal interest expense\t4986\t6060\t13129\t18175\nNet interest income\t19656\t17156\t53992\t51166\nProvision for loan losses\t2119\t(125)\t11295\t761\nNet interest income after provision for loan losses\t17537\t17281\t42697\t50405\nNoninterest income:\t\t\t\t\nTreasury management and other deposit service charges\t1064\t788\t2531\t2399\nNet gain (loss) on sale of securities\t34\t0\t74\t(108)\nTri-Net fees\t668\t847\t2528\t2511\nMortgage banking income\t9686\t2679\t19063\t7151\nWealth management fees\t382\t379\t1162\t1018\nInterchange and debit card transaction fees\t936\t754\t2389\t2323\nOther noninterest income\t2034\t1341\t3753\t3261\nTotal noninterest income\t14804\t6788\t31500\t18555\nNoninterest expense:\t\t\t\t\nSalaries and employee benefits\t12949\t9229\t33256\t26224\nData processing and software\t2353\t1790\t6317\t5126\nProfessional fees\t638\t528\t1854\t1571\nOccupancy\t999\t858\t2615\t2550\nEquipment\t864\t1012\t2295\t2890\nRegulatory fees\t397\t18\t893\t564\nMerger related expenses\t2548\t187\t3286\t2491\nAmortization of intangibles\t539\t408\t1300\t1258\nOther operating\t1452\t1501\t4067\t4054\nTotal noninterest expense\t22739\t15531\t55883\t46728\nIncome before income taxes\t9602\t8538\t18314\t22232\nIncome tax expense\t2115\t2072\t3299\t5231\nNet income\t7487\t6466\t15015\t17001\nPer share information:\t\t\t\t\nBasic net income per share of common stock\t0.34\t0.36\t0.77\t0.96\nDiluted net income per share of common stock\t0.34\t0.35\t0.77\t0.91\nWeighted average shares outstanding:\t\t\t\t\nBasic\t21948579\t17741778\t19558281\t17729518\nDiluted\t21960490\t18532479\t19583448\t18670280\n", "q10k_tbl_5": "\tThree Months Ended\t\tNine Months Ended\t\n\tSeptember 30\t\tSeptember 30\t\n\t2020\t2019\t2020\t2019\nNet income\t7487\t6466\t15015\t17001\nOther comprehensive income:\t\t\t\t\nUnrealized gains (losses) on securities available-for-sale:\t\t\t\t\nUnrealized holding gains (losses) arising during the period\t(440)\t1112\t3902\t6502\nReclassification adjustment for (gains) losses included in net income\t(34)\t0\t(74)\t108\nTax effect\t(40)\t(291)\t(1086)\t(1729)\nNet of tax\t(514)\t821\t2742\t4881\nUnrealized losses on cash flow hedges:\t\t\t\t\nUnrealized holding losses arising during the period\t0\t0\t0\t(702)\nReclassification adjustment for losses included in net income\t2167\t265\t2679\t627\nTax effect\t0\t0\t0\t(218)\nNet of tax\t2167\t265\t2679\t(293)\nOther comprehensive income\t1653\t1086\t5421\t4588\nComprehensive income\t9140\t7552\t20436\t21589\n", "q10k_tbl_6": "\tPreferred\tCommon Stock voting\t\tCommon Stock nonvoting\t\tAdditional paid-in\tRetained\tAccumulated other comprehensive\tTotal shareholders'\n\tstock\tShares\tAmount\tShares\tAmount\tcapital\tearnings\tincome\tequity\nBalance December 31 2019\t0\t18361922\t18362\t0\t0\t207083\t46218\t1383\t273046\nNet issuance of restricted common stock\t0\t73098\t73\t0\t0\t(196)\t0\t0\t(123)\nStock-based compensation expense\t0\t0\t0\t0\t0\t360\t0\t0\t360\nNet exercise of common stock options\t0\t20582\t21\t0\t0\t85\t0\t0\t106\nRepurchase of common stock\t0\t(147800)\t(148)\t0\t0\t(1289)\t0\t0\t(1437)\nCommon stock dividends declared ($0.05 per share)\t0\t0\t0\t0\t0\t0\t(916)\t0\t(916)\nNet income\t0\t0\t0\t0\t0\t0\t1346\t0\t1346\nOther comprehensive income\t0\t0\t0\t0\t0\t0\t0\t3408\t3408\nBalance March 31 2020\t0\t18307802\t18308\t0\t0\t206043\t46648\t4791\t275790\nNet issuance of restricted common stock\t0\t(5614)\t(6)\t0\t0\t7\t0\t0\t1\nStock-based compensation expense\t0\t0\t0\t0\t0\t541\t0\t0\t541\nCommon stock dividends declared ($0.05 per share)\t0\t0\t0\t0\t0\t0\t(923)\t0\t(923)\nNet income\t0\t0\t0\t0\t0\t0\t6181\t0\t6181\nOther comprehensive income\t0\t0\t0\t0\t0\t0\t0\t360\t360\nBalance June 30 2020\t0\t18302188\t18302\t0\t0\t206591\t51906\t5151\t281950\nNet issuance of restricted common stock\t0\t13899\t14\t0\t0\t(27)\t0\t0\t(13)\nStock-based compensation expense\t0\t0\t0\t0\t0\t330\t0\t0\t330\nIssuance of common stock in conjunction with mergers\t0\t3631718\t3632\t0\t0\t39953\t0\t0\t43585\nCommon stock dividends declared ($0.05 per share)\t0\t0\t0\t0\t0\t0\t(1097)\t0\t(1097)\nNet income\t0\t0\t0\t0\t0\t0\t7487\t0\t7487\nOther comprehensive income\t0\t0\t0\t0\t0\t0\t0\t1653\t1653\nBalance September 30 2020\t0\t21947805\t21948\t0\t0\t246847\t58296\t6804\t333895\n", "q10k_tbl_7": "\tPreferred\tCommon Stock voting\t\tCommon Stock nonvoting\t\tAdditional paid-in\tRetained\tAccumulated other comprehensive\tTotal shareholders'\n\tstock\tShares\tAmount\tShares\tAmount\tcapital\tearnings\tincome (loss)\tequity\nBalance December 31 2018\t878\t17592160\t17592\t132561\t133\t211789\t27303\t(3316)\t254379\nNet issuance of restricted common stock\t0\t13801\t14\t0\t0\t(182)\t0\t0\t(168)\nStock-based compensation expense\t0\t0\t0\t0\t0\t344\t0\t0\t344\nNet exercise of common stock options\t0\t182002\t182\t0\t0\t998\t0\t0\t1180\nRepurchase of common stock\t0\t(155400)\t(155)\t0\t0\t(2276)\t0\t0\t(2431)\nCommon and preferred stock dividends declared ($0.05 per share)\t0\t0\t0\t0\t0\t0\t(744)\t0\t(744)\nNet income\t0\t0\t0\t0\t0\t0\t4779\t0\t4779\nOther comprehensive loss\t0\t0\t0\t0\t0\t0\t0\t2412\t2412\nBalance March 31 2019\t878\t17632563\t17633\t132561\t133\t210673\t31338\t(904)\t259751\nNet issuance of restricted common stock\t0\t(6826)\t(7)\t0\t0\t(6)\t0\t0\t(13)\nStock-based compensation expense\t0\t0\t0\t0\t0\t340\t0\t0\t340\nNet exercise of common stock options\t0\t22778\t23\t0\t0\t51\t0\t0\t74\nRepurchase of common stock\t0\t(219600)\t(220)\t0\t0\t(3185)\t0\t0\t(3405)\nCommon and preferred stock dividends declared ($0.05 per share)\t0\t0\t0\t0\t0\t0\t(929)\t0\t(929)\nNet income\t0\t0\t0\t0\t0\t0\t5756\t0\t5756\nOther comprehensive loss\t0\t0\t0\t0\t0\t0\t0\t1090\t1090\nBalance June 30 2019\t878\t17428915\t17429\t132561\t133\t207873\t36165\t186\t262664\nNet issuance of restricted common stock\t0\t(5335)\t(6)\t0\t0\t(28)\t0\t0\t(34)\nStock-based compensation expense\t0\t0\t0\t0\t0\t351\t0\t0\t351\nNet exercise of common stock options\t0\t39000\t39\t0\t0\t431\t0\t0\t470\nConversion of preferred stock to common stock\t(878)\t878048\t878\t0\t0\t0\t0\t0\t0\nConversion of non-voting common stock to common stock\t0\t132561\t133\t(132561)\t(133)\t0\t0\t0\t0\nRepurchase of common stock\t0\t(129786)\t(130)\t0\t0\t(1870)\t0\t0\t(2000)\nCommon and preferred stock dividends declared ($0.05 per share)\t0\t0\t0\t0\t0\t0\t(921)\t0\t(921)\nNet income\t0\t0\t0\t0\t0\t0\t6466\t0\t6466\nOther comprehensive income\t0\t0\t0\t0\t0\t0\t0\t1086\t1086\nBalance September 30 2019\t0\t18343403\t18343\t0\t0\t206757\t41710\t1272\t268082\n", "q10k_tbl_8": "\tNine Months Ended\t\n\tSeptember 30\t\n\t2020\t2019\nCash flows from operating activities:\t\t\nNet income\t15015\t17001\nAdjustments to reconcile net income to net cash used in operating activities:\t\t\nProvision for loan losses\t11295\t761\nAccretion of discounts on acquired loans and deferred fees\t(3446)\t(1908)\nDepreciation and amortization\t2261\t2192\nNet amortization of premiums on investment securities\t994\t577\nNet (gain) loss on sale of securities\t(74)\t108\nMortgage banking income\t(19063)\t(7151)\nTri-Net fees\t(2528)\t(2511)\nNet gain on sale of loans\t(525)\t(823)\nNet gain on disposal of premises and equipment\t(303)\t0\nNet gain on sale of other real estate owned\t(108)\t(3)\nStock-based compensation\t1231\t1035\nDeferred income tax expense\t1788\t874\nOrigination of loans held for sale\t(845982)\t(594982)\nProceeds from loans held for sale\t834392\t532649\nCash payments arising from operating leases\t(1402)\t(1338)\nAmortization of debt issuance expense\t31\t0\nNet increase in accrued interest receivable and other assets\t(6406)\t(9287)\nNet increase in accrued interest payable and other liabilities\t4186\t10352\nNet cash used in operating activities\t(8644)\t(52454)\nCash flows from investing activities:\t\t\nActivities in securities available-for-sale:\t\t\nPurchases\t(134935)\t(27342)\nSales\t77338\t54133\nMaturities prepayments and calls\t64009\t19460\nActivities in securities held-to-maturity:\t\t\nMaturities prepayments and calls\t880\t396\nNet redemption (purchase) of restricted equity securities\t1154\t(1862)\nNet (increase) decrease in loans\t(185614)\t20661\nPurchase of premises and equipment\t(417)\t(1520)\nProceeds from the sale of premises and equipment\t2660\t0\nProceeds from sale of other real estate\t1665\t127\nCash received from mergers net\t63482\t0\nNet cash (used in) provided by investing activities\t(109778)\t64053\nCash flows from financing activities:\t\t\nNet increase in deposits\t445414\t161755\nProceeds from Federal Home Loan Bank advances\t680000\t75000\nPayments on Federal Home Loan Bank advances\t(680000)\t(190000)\nIssuance of subordinated notes\t29387\t0\nRepurchase of common stock\t(1437)\t(7836)\nExercise of common stock options and warrants net of repurchase of restricted shares\t(29)\t1509\nCommon and preferred stock dividends paid\t(2936)\t(2573)\nTermination of interest rate swap agreements and related reclassification adjustment for unrealized losses included in income\t2679\t(876)\nNet cash provided by financing activities\t473078\t36979\nNet increase in cash and cash equivalents\t354656\t48578\nCash and cash equivalents at beginning of period\t101269\t105443\nCash and cash equivalents at end of period\t455925\t154021\nSupplemental disclosures of cash paid:\t\t\nInterest paid\t12525\t18565\nIncome taxes\t5620\t314\nSupplemental disclosures of noncash transactions:\t\t\nTransfer of loans to other real estate\t113\t50\nLoans charged off to the allowance for loan losses\t1014\t532\nLease liabilities arising from obtaining right-of-use assets\t668\t0\nUnrealized gains on securities available for sale\t2742\t4881\nLoans transferred from held for sale to held for investment\t2800\t0\nAssets acquired net of cash\t423983\t0\nLiabilities assumed\t447412\t0\nGoodwill\t3558\t0\nConversion of preferred stock and non-voting common stock\t0\t1011\n", "q10k_tbl_9": "\tAs recorded by FCB Corporation\tInitial fair value adjustments\tMeasurement period adjustments\t\tAs recorded by CapStar Financial Holdings\nAssets:\t\t\t\t\t\nCash and cash equivalents\t90760\t0\t0\t\t90760\nSecurities\t98536\t159\t(a)\t0\t98695\nLoans gross\t296992\t(2318)\t(b)\t0\t294674\nAllowance for loan losses\t(4544)\t4544\t(c)\t0\t0\nPremises and equipment net\t9907\t1540\t(d)\t0\t11447\nCore deposit intangible\t0\t3570\t(e)\t0\t3570\nOther\t16514\t(917)\t(f)\t0\t15597\nTotal\t508165\t6578\t0\t\t514743\nLiabilities:\t\t\t\t\t\nDeposits\t440025\t2652\t(g) $-\t\t442677\nOther\t4735\t0\t\t0\t4735\nTotal\t444760\t2652\t0\t\t447412\nNet identifiable assets acquired\t\t\t\t\t67331\nTotal cost of acquisition:\t\t\t\t\t\nValue of stock issued\t\t\t\t\t43611\nCash consideration paid\t\t\t\t\t27278\nTotal cost of acquisition\t\t\t\t\t70889\nGoodwill recorded related to acquisition\t\t\t\t\t3558\n", "q10k_tbl_10": "\tSeptember 30 2020\t\t\t\tDecember 31 2019\t\t\t\n\tAmortized Cost\tGross unrealized gains\tGross unrealized (losses)\tEstimated fair value\tAmortized Cost\tGross unrealized gains\tGross unrealized (losses)\tEstimated fair value\nSecurities available-for-sale:\t\t\t\t\t\t\t\t\nU. S. government agency securities\t12909\t79\t0\t12988\t10421\t4\t(94)\t10331\nState and municipal securities\t53972\t2293\t(92)\t56173\t44053\t1927\t(20)\t45960\nMortgage-backed securities\t205734\t4975\t(263)\t210446\t137305\t1834\t(460)\t138679\nAsset-backed securities\t3325\t0\t(194)\t3131\t3325\t0\t(128)\t3197\nOther debt securities\t25383\t340\t(124)\t25599\t14839\t141\t(18)\t14962\nTotal\t301323\t7687\t(673)\t308337\t209943\t3906\t(720)\t213129\nSecurities held-to-maturity:\t\t\t\t\t\t\t\t\nState and municipal securities\t2413\t113\t0\t2526\t3313\t98\t0\t3411\nTotal\t2413\t113\t0\t2526\t3313\t98\t0\t3411\n", "q10k_tbl_11": "\tLess than 12 months\t\t12 months or more\t\tTotal\t\nSeptember 30 2020\tEstimated fair value\tGross unrealized losses\tEstimated fair value\tGross unrealized losses\tEstimated fair value\tGross unrealized losses\nU. S. government agency securities\t0\t0\t0\t0\t0\t0\nState and municipal securities\t9095\t(92)\t0\t0\t9095\t(92)\nMortgage-backed securities\t53584\t(200)\t1531\t(63)\t55115\t(263)\nAsset-backed securities\t0\t0\t3131\t(194)\t3131\t(194)\nOther debt securities\t8080\t(114)\t1493\t(10)\t9573\t(124)\nTotal temporarily impaired securities\t70759\t(406)\t6155\t(267)\t76914\t(673)\nDecember 31 2019\t\t\t\t\t\t\nU. S. government agency securities\t6694\t(51)\t1637\t(43)\t8331\t(94)\nState and municipal securities\t2356\t(12)\t814\t(8)\t3170\t(20)\nMortgage-backed securities\t30570\t(136)\t21364\t(324)\t51934\t(460)\nAsset-backed securities\t0\t0\t3197\t(128)\t3197\t(128)\nOther debt securities\t3012\t(16)\t1502\t(2)\t4514\t(18)\nTotal temporarily impaired securities\t42632\t(215)\t28514\t(505)\t71146\t(720)\n", "q10k_tbl_12": "\tNine Months Ended\tNine Months Ended\n\tSeptember 30 2020\tSeptember 30 2019\nProceeds\t77338\t54133\nGross gains\t83\t370\nGross losses\t(9)\t(478)\n", "q10k_tbl_13": "\tAvailable-for-sale\t\tHeld-to-maturity\t\n\tAmortized cost\tEstimated fair value\tAmortized cost\tEstimated fair value\nDue in less than one year\t21552\t21660\t599\t614\nDue one to five years\t34023\t34839\t1814\t1912\nDue five to ten years\t31646\t33262\t0\t0\nDue beyond ten years\t5043\t4999\t0\t0\nMortgage-backed securities\t205734\t210446\t0\t0\nAsset-backed securities\t3325\t3131\t0\t0\nTotal\t301323\t308337\t2413\t2526\n", "q10k_tbl_14": "\tSeptember 30 2020\tDecember 31 2019\nCommercial real estate\t644442\t559899\nConsumer real estate\t350238\t256097\nConstruction and land development\t176751\t143111\nCommercial and industrial\t648018\t394408\nConsumer\t42104\t28426\nOther\t45050\t38161\nTotal\t1906603\t1420102\nAllowance for loan losses\t(23167)\t(12604)\nTotal loans net\t1883436\t1407498\n", "q10k_tbl_15": "September 30 2020\tPass/Watch\tSpecial Mention\tSubstandard\tDoubtful\tTotal Impaired Loans\tTotal\nCommercial real estate\t601861\t31598\t2843\t0\t1193\t637495\nConsumer real estate\t327953\t2239\t1264\t35\t930\t332421\nConstruction and land development\t171105\t5168\t8\t0\t106\t176387\nCommercial and industrial\t595034\t24351\t25091\t0\t83\t644559\nConsumer\t38708\t393\t18\t5\t4\t39128\nOther\t44350\t34\t0\t93\t0\t44477\nPurchased credit impaired\t20545\t5735\t4446\t1410\t0\t32136\nTotal\t1799556\t69518\t33670\t1543\t2316\t1906603\nDecember 31 2019\t\t\t\t\t\t\nCommercial real estate\t551929\t915\t4438\t0\t2507\t559789\nConsumer real estate\t252952\t503\t1551\t0\t483\t255489\nConstruction and land development\t142978\t0\t16\t0\t112\t143106\nCommercial and industrial\t370475\t14341\t8241\t0\t487\t393544\nConsumer\t28382\t6\t15\t0\t5\t28408\nOther\t38161\t0\t0\t0\t0\t38161\nPurchased credit impaired\t0\t0\t1605\t0\t0\t1605\nTotal\t1384877\t15765\t15866\t0\t3594\t1420102\n", "q10k_tbl_16": "\tCommercial real estate\tConsumer real estate\tConstruction and land development\tCommercial and industrial\tConsumer\tOther\tTotal\nThree Months Ended September 30 2020\t\t\t\t\t\t\t\nBalance beginning of period\t5139\t1398\t2387\t11514\t234\t363\t21035\nCharged-off loans\t0\t0\t0\t0\t(30)\t(22)\t(52)\nRecoveries\t13\t1\t0\t3\t16\t32\t65\nProvision for loan losses\t677\t418\t795\t183\t(20)\t66\t2119\nBalance end of period\t5829\t1817\t3182\t11700\t200\t439\t23167\nThree Months Ended September 30 2019\t\t\t\t\t\t\t\nBalance beginning of period\t3922\t1142\t1733\t5518\t166\t422\t12903\nCharged-off loans\t0\t0\t0\t(282)\t(30)\t(20)\t(332)\nRecoveries\t4\t2\t0\t356\t18\t2\t382\nProvision for loan losses\t(36)\t101\t209\t(468)\t53\t16\t(125)\nBalance end of period\t3890\t1245\t1942\t5124\t207\t420\t12828\n", "q10k_tbl_17": "\tCommercial real estate\tConsumer real estate\tConstruction and land development\tCommercial and industrial\tConsumer\tOther\tTotal\nNine Months Ended September 30 2020\t\t\t\t\t\t\t\nBalance beginning of period\t3599\t1231\t2058\t5074\t222\t420\t12604\nCharged-off loans\t(3)\t(43)\t0\t(710)\t(83)\t(175)\t(1014)\nRecoveries\t10\t4\t0\t162\t58\t48\t282\nProvision for loan losses\t2223\t625\t1124\t7174\t3\t146\t11295\nBalance end of period\t5829\t1817\t3182\t11700\t200\t439\t23167\nNine Months Ended September 30 2019\t\t\t\t\t\t\t\nBalance beginning of period\t3309\t1005\t2431\t5036\t105\t227\t12113\nCharged-off loans\t0\t0\t0\t(308)\t(109)\t(115)\t(532)\nRecoveries\t16\t18\t0\t371\t60\t21\t486\nProvision for loan losses\t565\t222\t(489)\t25\t151\t287\t761\nBalance end of period\t3890\t1245\t1942\t5124\t207\t420\t12828\n", "q10k_tbl_18": "\tCommercial real estate\tConsumer real estate\tConstruction and land development\tCommercial and industrial\tConsumer\tOther\tTotal\nSeptember 30 2020\t\t\t\t\t\t\t\nAllowance for Loan Losses:\t\t\t\t\t\t\t\nCollectively evaluated for impairment\t5829\t1817\t3112\t11700\t200\t439\t23097\nIndividually evaluated for impairment\t0\t0\t70\t0\t0\t0\t70\nPurchased credit impaired\t0\t0\t0\t0\t0\t0\t0\nBalances end of period\t5829\t1817\t3182\t11700\t200\t439\t23167\nLoans:\t\t\t\t\t\t\t\nCollectively evaluated for impairment\t636302\t331491\t176281\t644476\t39124\t44477\t1872151\nIndividually evaluated for impairment\t1193\t930\t106\t83\t4\t0\t2316\nPurchased credit impaired\t6947\t17817\t364\t3459\t2976\t573\t32136\nBalances end of period\t644442\t350238\t176751\t648018\t42104\t45050\t1906603\nDecember 31 2019\t\t\t\t\t\t\t\nAllowance for Loan Losses:\t\t\t\t\t\t\t\nCollectively evaluated for impairment\t3599\t1231\t2058\t5074\t222\t420\t12604\nIndividually evaluated for impairment\t0\t0\t0\t0\t0\t0\t0\nPurchased credit impaired\t0\t0\t0\t0\t0\t0\t0\nBalances end of period\t3599\t1231\t2058\t5074\t222\t420\t12604\nLoans:\t\t\t\t\t\t\t\nCollectively evaluated for impairment\t557282\t255006\t142994\t393057\t28403\t38161\t1414903\nIndividually evaluated for impairment\t2507\t483\t112\t487\t5\t0\t3594\nPurchased credit impaired\t110\t608\t5\t864\t18\t0\t1605\nBalances end of period\t559899\t256097\t143111\t394408\t28426\t38161\t1420102\n", "q10k_tbl_19": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tAmount\tPercent of total loans\tAmount\tPercent of total loans\nCommercial real estate\t5829\t0.31%\t3599\t0.25%\nConsumer real estate\t1817\t0.10\t1231\t0.09\nConstruction and land development\t3182\t0.17\t2058\t0.14\nCommercial and industrial\t11700\t0.61\t5074\t0.36\nConsumer\t200\t0.01\t222\t0.02\nOther\t439\t0.02\t420\t0.03\nTotal allowance for loan losses\t23167\t1.22%\t12604\t0.89%\n", "q10k_tbl_20": "\tSeptember 30 2020\t\t\tDecember 31 2019\t\t\n\tRecorded investment\tUnpaid principal balance\tRelated allowance\tRecorded investment\tUnpaid principal balance\tRelated allowance\nWith no related allowance recorded:\t\t\t\t\t\t\nCommercial real estate\t1193\t1176\t0\t2507\t2446\t0\nConsumer real estate\t930\t945\t0\t483\t497\t0\nConstruction and land development\t0\t0\t0\t112\t117\t0\nCommercial and industrial\t83\t318\t0\t487\t710\t0\nConsumer\t4\t4\t0\t5\t5\t0\nOther\t0\t0\t0\t0\t0\t0\nSubtotal\t2210\t2443\t0\t3594\t3775\t0\nWith an allowance recorded:\t\t\t\t\t\t\nCommercial real estate\t0\t0\t0\t0\t0\t0\nConsumer real estate\t0\t0\t0\t0\t0\t0\nConstruction and land development\t106\t111\t70\t0\t0\t0\nCommercial and industrial\t0\t0\t0\t0\t0\t0\nConsumer\t0\t0\t0\t0\t0\t0\nOther\t0\t0\t0\t0\t0\t0\nSubtotal\t106\t111\t70\t0\t0\t0\nTotal\t2316\t2554\t70\t3594\t3775\t0\n", "q10k_tbl_21": "\tThree Months Ended\t\tThree Months Ended\t\tNine Months Ended\t\tNine Months Ended\t\n\tSeptember 30 2020\t\tSeptember 30 2019\t\tSeptember 30 2020\t\tSeptember 30 2019\t\n\tAverage recorded investment\tInterest income recognized\tAverage recorded investment\tInterest income recognized\tAverage recorded investment\tInterest income recognized\tAverage recorded investment\tInterest income recognized\nWith no related allowance recorded:\t\t\t\t\t\t\t\t\nCommercial real estate\t1191\t17\t2511\t40\t1458\t57\t2512\t118\nConsumer real estate\t961\t9\t670\t6\t982\t27\t679\t23\nConstruction and land development\t0\t0\t116\t0\t0\t0\t122\t4\nCommercial and industrial\t90\t0\t932\t6\t176\t2\t1043\t20\nConsumer\t4\t0\t12\t0\t4\t0\t13\t0\nOther\t0\t0\t0\t0\t0\t0\t0\t0\nSubtotal\t2246\t26\t4241\t52\t2620\t86\t4369\t165\nWith an allowance recorded:\t\t\t\t\t\t\t\t\nCommercial real estate\t0\t0\t0\t0\t0\t0\t0\t0\nConsumer real estate\t0\t0\t0\t0\t0\t0\t0\t0\nConstruction and land development\t0\t0\t0\t0\t0\t0\t0\t0\nCommercial and industrial\t107\t0\t0\t0\t108\t0\t0\t0\nConsumer\t0\t0\t0\t0\t0\t0\t0\t0\nOther\t0\t0\t0\t0\t0\t0\t0\t0\nSubtotal\t107\t0\t0\t0\t108\t0\t0\t0\nTotal\t2353\t26\t4241\t52\t2728\t86\t4369\t165\n", "q10k_tbl_22": "\t30 - 59\t60 - 89\tGreater Than\t\t\t\n\tDays\tDays\t89 Days\tTotal\tLoans Not\t\n\tPast Due\tPast Due\tPast Due\tPast Due\tPast Due\tTotal\nSeptember 30 2020\t\t\t\t\t\t\nCommercial real estate\t20\t1176\t0\t1196\t636299\t637495\nConsumer real estate\t162\t772\t380\t1314\t331107\t332421\nConstruction and land development\t464\t64\t0\t528\t175859\t176387\nCommercial and industrial\t959\t654\t328\t1941\t642618\t644559\nConsumer\t90\t12\t4\t106\t39022\t39128\nOther\t182\t0\t0\t182\t44295\t44477\nPurchased credit impaired\t1799\t222\t1069\t3090\t29046\t32136\nTotal\t3676\t2900\t1781\t8357\t1898246\t1906603\nDecember 31 2019\t\t\t\t\t\t\nCommercial real estate\t372\t0\t0\t372\t559417\t559789\nConsumer real estate\t3567\t408\t501\t4476\t251013\t255489\nConstruction and land development\t653\t0\t0\t653\t142453\t143106\nCommercial and industrial\t1277\t8\t440\t1725\t391819\t393544\nConsumer\t67\t0\t26\t93\t28315\t28408\nOther\t0\t0\t0\t0\t38161\t38161\nPurchased credit impaired\t75\t81\t149\t305\t1300\t1605\nTotal\t6011\t497\t1116\t7624\t1412478\t1420102\n", "q10k_tbl_23": "\tNon-Accrual\tPast Due Over 89 Days and Accruing\tTroubled Debt Restructurings\nSeptember 30 2020\t\t\t\nCommercial real estate\t24\t0\t1176\nConsumer real estate\t1128\t20\t0\nConstruction and land development\t122\t0\t0\nCommercial and industrial\t382\t10\t0\nConsumer\t21\t0\t0\nOther\t0\t0\t0\nPurchased credit impaired\t1268\t512\t709\nTotal\t2945\t542\t1885\nDecember 31 2019\t\t\t\nCommercial real estate\t0\t0\t2446\nConsumer real estate\t292\t12\t0\nConstruction and land development\t102\t0\t0\nCommercial and industrial\t427\t0\t271\nConsumer\t0\t26\t0\nOther\t0\t0\t0\nPurchased credit impaired\t643\t0\t0\nTotal\t1464\t38\t2717\n", "q10k_tbl_24": "\tFCB and BOW mergers on July 1 2020\nContractually required payments\t42443\nNonaccretable difference\t4501\nCash flows expected to be collected at acquisition\t37942\nAccretable yield\t4349\nFair value of PCI loans at acquisition date\t33593\n", "q10k_tbl_25": "\tFCB and BOW mergers on July 1 2020\nContractually required payments\t296527\nFair value of acquired loans at acquisition date\t260701\nContractual cash flows not expected to be collected\t3718\n", "q10k_tbl_26": "\tThree Months Ended\tNine Months Ended\n\tSeptember 30 2020\tSeptember 30 2020\nBalance at beginning of period\t1545\t1605\nAdditions due to the Merger\t33593\t33593\nChange due to payments received and accretion\t(3002)\t(3062)\nBalance at end of period\t32136\t32136\n", "q10k_tbl_27": "\tThree Months Ended\tNine Months Ended\n\tSeptember 30 2020\tSeptember 30 2020\nBalance at beginning of period\t829\t915\nAdditions due to the Merger\t4349\t4349\nAccretion\t(672)\t(758)\nBalance at end of period\t4506\t4506\n", "q10k_tbl_28": "\tThree Months Ended\tNine Months Ended\n\tSeptember 30 2020\tSeptember 30 2020\nOperating lease cost\t483\t1430\nShort-term lease cost\t0\t0\nVariable least cost\t0\t0\nTotal lease cost\t483\t1430\n", "q10k_tbl_29": "\tSeptember 30 2020\nLease payments due:\t\n2020\t428\n2021\t1726\n2022\t1605\n2023\t1558\n2024\t1266\n2025 and thereafter\t7815\nTotal undiscounted cash flows\t14398\nDiscount on cash flows\t(2144)\nTotal lease liability\t12254\n", "q10k_tbl_30": "\tSeptember 30 2020\t\tDecember 31 2019\t\nYear\tAmount\tInterest Rates\tAmount\tInterest Rates\n2020\t0\t0\t10000\t2.05%\n2021\t10000\t0.30%\t0\t0\nTotal\t10000\t0.30%\t10000\t2.05%\n", "q10k_tbl_31": "\t\tUnrealized Gains\t\n\tGains and\tand Losses\t\n\tLosses on\ton Available\t\n\tCash Flow\tfor Sale\t\n\tHedges\tSecurities\tTotal\nNine Months Ended September 30 2020\t\t\t\nBeginning balance\t(2679)\t4062\t1383\nOther comprehensive income before reclassification net of tax\t0\t2797\t2797\nAmounts reclassified from accumulated other comprehensive income (loss) net of tax\t2679\t(55)\t2624\nNet current period other comprehensive income\t2679\t2742\t5421\nEnding Balance\t0\t6804\t6804\nNine Months Ended September 30 2019\t\t\t\nBeginning balance\t(2636)\t(680)\t(3316)\nOther comprehensive income before reclassification net of tax\t325\t4961\t5286\nAmounts reclassified from accumulated other comprehensive income (loss) net of tax\t(618)\t(80)\t(698)\nNet current period other comprehensive income (loss)\t(293)\t4881\t4588\nEnding Balance\t(2929)\t4201\t1272\n", "q10k_tbl_32": "\t\t\t\t\tAffected Line Item\nDetails about Accumulated Other\tThree Months Ended September 30\t\tNine Months Ended September 30\t\tin the Statement Where\nComprehensive Income (Loss) Components\t2020\t2019\t2020\t2019\tNet Income is Presented\nRealized losses on cash flow hedges\t(2060)\t(212)\t(2466)\t(436)\tInterest expense - money market\n\t(107)\t(53)\t(213)\t(191)\tInterest expense - Federal Home Loan Bank advances\n\t0\t0\t0\t9\tIncome tax benefit\n\t(2167)\t(265)\t(2679)\t(618)\tNet of tax\nRealized gains (losses) on available- for-sale securities\t34\t0\t74\t(108)\tNet gain (loss) on sale of securities\n\t(9)\t0\t(19)\t28\tIncome tax benefit (expense)\n\t25\t0\t55\t(80)\tNet of tax\n", "q10k_tbl_33": "\tContract or notional amount\t\n\tSeptember 30 2020\tDecember 31 2019\nFinancial instruments whose contract amounts represent credit risk:\t\t\nUnused commitments to extend credit\t761203\t672933\nStandby letters of credit\t11065\t9634\nTotal\t772268\t682567\n", "q10k_tbl_34": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tNotional\tEstimated\tNotional\tEstimated\n\tamount\tfair value\tamount\tfair value\nInterest rate swap agreements:\t\t\t\t\nPay fixed/receive variable swaps\t54951\t(3020)\t45053\t(926)\nPay variable/receive fixed swaps\t54951\t3020\t45053\t926\nTotal\t109902\t0\t90106\t0\n", "q10k_tbl_35": "\tThree Months Ended\tNine Months Ended\n\tSeptember 30 2020\tSeptember 30 2020\nMortgage loan interest rate lock commitments\t493\t3488\nMortgage-backed securities forward sales commitments\t(1663)\t(5225)\nTotal\t(1170)\t(1737)\n", "q10k_tbl_36": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tNotional\tEstimated\tNotional\tEstimated\n\tamount\tfair value\tamount\tfair value\nIncluded in other assets:\t\t\t\t\nMortgage loan interest rate lock commitments\t131057\t4136\t44694\t648\nIncluded in other liabilities:\t\t\t\t\nMortgage-backed securities forward sales commitments\t118000\t(426)\t38500\t148\n", "q10k_tbl_37": "\tThree Months Ended\t\tNine Months Ended\t\n\tSeptember 30\t\tSeptember 30\t\n\t2020\t2019\t2020\t2019\nStock-based compensation expense before income taxes\t330\t351\t1231\t1035\nLess: deferred tax benefit\t(86)\t(92)\t(322)\t(271)\nReduction of net income\t244\t259\t909\t764\n", "q10k_tbl_38": "\t\tWeighted\n\t\tAverage\n\tRestricted\tGrant Date\nNonvested Shares\tShares\tFair Value\nNonvested at beginning of period\t84697\t17.44\nGranted\t98981\t13.76\nVested\t(64324)\t16.64\nForfeited\t(3958)\t16.36\nNonvested at end of period\t115396\t14.77\n", "q10k_tbl_39": "\t\t\tWeighted\n\t\tWeighted\tAverage\n\t\tAverage\tRemaining\n\t\tExercise\tContractual\n\tShares\tPrice\tTerm (years)\nOutstanding at beginning of period\t271202\t11.22\t\nGranted\t0\t0\t\nExercised\t(24613)\t6.75\t\nForfeited or expired\t(20000)\t10.92\t\nOutstanding at end of period\t226589\t11.73\t4.1\nFully vested and expected to vest\t226589\t11.73\t4.1\nExercisable at end of period\t193255\t11.19\t3.3\n", "q10k_tbl_40": "\t2020\t2019\nIntrinsic value of options exercised\t188662\t2208930\nCash received from option exercises\t105847\t1723704\nTax benefit realized from option exercises\t16524\t37468\nWeighted average fair value of options granted\t0\t5.35\n", "q10k_tbl_41": "\tActual\t\tMinimum capital requirement (1)\t\tMinimum to be well-capitalized (2)\t\n\tAmount\tRatio\tAmount\tRatio\tAmount\tRatio\nAt September 30 2020:\t\t\t\t\t\t\nTotal capital to risk-weighted assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t328295\t15.96%\t164521\t8.00%\tN/A\tN/A\nCapStar Bank\t314424\t15.29\t164497\t8.00\t2056\t10%\nTier I capital to risk-weighted assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t275391\t13.39\t123391\t6.00\tN/A\tN/A\nCapStar Bank\t290938\t14.15\t123373\t6.00\t164497\t8.00\nCommon equity Tier 1 capital to risk weighted assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t275391\t13.39\t92543\t4.50\tN/A\tN/A\nCapStar Bank\t274438\t13.35\t92530\t4.50\t133654\t6.50\nTier I capital to average assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t275391\t9.23\t119400\t4.00\tN/A\tN/A\nCapStar Bank\t290938\t9.74\t119527\t4.00\t149409\t5.00\nAt December 31 2019:\t\t\t\t\t\t\nTotal capital to risk-weighted assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t237857\t13.45%\t141436\t8.00%\tN/A\tN/A\nCapStar Bank\t224443\t12.70\t141388\t8.00\t176735\t10%\nTier I capital to risk-weighted assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t225074\t12.73\t106077\t6.00\tN/A\tN/A\nCapStar Bank\t211660\t11.98\t106041\t6.00\t141388\t8.00\nCommon equity Tier 1 capital to risk weighted assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t225074\t12.73\t79558\t4.50\tN/A\tN/A\nCapStar Bank\t195160\t11.04\t79531\t4.50\t114878\t6.50\nTier I capital to average assets:\t\t\t\t\t\t\nCapStar Financial Holdings Inc.\t225074\t11.37\t79201\t4.00\tN/A\tN/A\nCapStar Bank\t211660\t10.70\t79150\t4.00\t98938\t5.00\n", "q10k_tbl_42": "\tThree Months Ended\t\tNine Months Ended\t\n\tSeptember 30\t\tSeptember 30\t\n\t2020\t2019\t2020\t2019\nBasic net income per share calculation:\t\t\t\t\nNumerator - Net income\t7487\t6466\t15015\t17001\nDenominator - Average common shares outstanding\t21948579\t17741778\t19558281\t17729518\nBasic net income per share\t0.34\t0.36\t0.77\t0.96\nDiluted net income per share calculation:\t\t\t\t\nNumerator - Net income\t7487\t6466\t15015\t17001\nDenominator - Average common shares outstanding\t21948579\t17741778\t19558281\t17729518\nDilutive shares contingently issuable\t11911\t790701\t25167\t940762\nAverage diluted common shares outstanding\t21960490\t18532479\t19583448\t18670280\nDiluted net income per share\t0.34\t0.35\t0.77\t0.91\n", "q10k_tbl_43": "\tFair value measurements at September 30 2020\t\t\t\n\t\tQuoted prices\t\t\n\t\tin active\tSignificant\t\n\t\tmarkets for\tother\tSignificant\n\t\tidentical\tobservable\tunobservable\n\tCarrying\tassets\tinputs\tinputs\n\tValue\t(Level 1)\t(Level 2)\t(Level 3)\nAssets:\t\t\t\t\nSecurities available-for-sale:\t\t\t\t\nU.S. government-sponsored agencies\t12988\t0\t12988\t0\nObligations of states and political subdivisions\t56173\t0\t56173\t0\nMortgage-backed securities-residential\t210446\t0\t210446\t0\nAsset-backed securities\t3131\t0\t3131\t0\nOther debt securities\t25599\t0\t25599\t0\nLoans held for sale\t112002\t0\t112002\t0\nDerivative assets:\t\t\t\t\nNon-hedging derivatives:\t\t\t\t\nInterest rate swaps - customer related\t3020\t0\t3020\t0\nMortgage loan interest rate lock commitments\t4136\t0\t0\t4136\nLiabilities:\t\t\t\t\nDerivative liabilities:\t\t\t\t\nNon-hedging derivatives:\t\t\t\t\nDerivative Liabilities - customer related\t(3020)\t0\t(3020)\t0\nMortgage-backed securities forward sales commitments\t(426)\t0\t(426)\t0\n", "q10k_tbl_44": "\tFair value measurements at December 31 2019\t\t\t\n\t\tQuoted prices\t\t\n\t\tin active\tSignificant\t\n\t\tmarkets for\tother\tSignificant\n\t\tidentical\tobservable\tunobservable\n\tCarrying\tassets\tinputs\tinputs\n\tValue\t(Level 1)\t(Level 2)\t(Level 3)\nAssets:\t\t\t\t\nSecurities available-for-sale:\t\t\t\t\nU.S. government-sponsored agencies\t10331\t0\t10331\t0\nObligations of states and political subdivisions\t45960\t0\t45960\t0\nMortgage-backed securities-residential\t138679\t0\t138679\t0\nAsset-backed securities\t3197\t0\t3197\t0\nOther debt securities\t14962\t0\t14962\t0\nLoans held for sale\t30740\t0\t30740\t0\nDerivative assets:\t\t\t\t\nNon-hedging derivatives:\t\t\t\t\nInterest rate swaps - customer related\t926\t0\t926\t0\nMortgage loan interest rate lock commitments\t648\t0\t0\t648\nLiabilities:\t\t\t\t\nDerivative liabilities:\t\t\t\t\nNon-hedging derivatives:\t\t\t\t\nInterest rate swaps - customer related\t(926)\t0\t(926)\t0\n", "q10k_tbl_45": "\tMortgage Loan Interest Rate\t\n\tLock Commitments\t\n\t2020\t2019\nBalance of recurring Level 3 assets at January 1st\t648\t0\nTotal gains or losses for the period:\t\t\nIncluded in mortgage banking income\t3488\t807\nBalance of recurring Level 3 assets at September 30th\t4136\t807\n", "q10k_tbl_46": "\tSeptember 30 2020\t\tDecember 31 2019\t\t\n\tCarrying\t\tCarrying\t\tFair value\n\tamount\tFair value\tamount\tFair value\tlevel of input\nFinancial assets:\t\t\t\t\t\nCash and due from banks interest-bearing deposits in financial institutions\t455925\t455925\t101094\t101094\tLevel 1\nFederal funds sold\t0\t0\t175\t175\tLevel 1\nSecurities available-for-sale\t308337\t308337\t213129\t213129\tLevel 2\nSecurities held-to-maturity\t2413\t2526\t3313\t3411\tLevel 2\nLoans held for sale\t198603\t199469\t168222\t169072\tLevel 2\nRestricted equity securities\t13625\tN/A\t13689\tN/A\tN/A\nLoans\t1906603\t1925544\t1420102\t1414757\tLevel 3\nAccrued interest receivable\t9814\t9814\t5792\t5792\tLevel 2\nOther assets\t46420\t46420\t36393\t36393\tLevel 2 / Level 3\nFinancial liabilities:\t\t\t\t\t\nDeposits\t2617542\t2621366\t1729451\t1730206\tLevel 3\nFederal Home Loan Bank advances and other borrowings\t39418\t38930\t10000\t10014\tLevel 2\nOther liabilities\t4239\t4239\t1394\t1394\tLevel 3\n", "q10k_tbl_47": "\t\t\t2020 - 2019\t\t\t2020 - 2019\n\tThree Months Ended\t\tPercent\tNine Months Ended\t\tPercent\n\tSeptember 30\t\tIncrease\tSeptember 30\t\tIncrease\n\t2020\t2019\t(Decrease)\t2020\t2019\t(Decrease)\nInterest income\t24642\t23216\t6.1%\t67121\t69341\t(3.2)%\nInterest expense\t4986\t6060\t(17.7)%\t13129\t18175\t(27.8)%\nNet interest income\t19656\t17156\t14.6%\t53992\t51166\t5.5%\nProvision for loan losses\t2119\t(125)\t(1793.0)%\t11295\t761\t1384.6%\nNet interest income after provision for loan losses\t17537\t17281\t1.5%\t42697\t50405\t(15.3)%\nNoninterest income\t14804\t6788\t118.1%\t31500\t18555\t69.8%\nNoninterest expense\t22739\t15531\t46.4%\t55883\t46728\t19.6%\nNet income before income taxes\t9602\t8538\t12.5%\t18314\t22232\t(17.6)%\nIncome tax expense\t2115\t2072\t2.1%\t3299\t5231\t(36.9)%\nNet income\t7487\t6466\t15.8%\t15015\t17001\t(11.7)%\nBasic net income per share of common stock\t0.34\t0.36\t(6.4)%\t0.77\t0.96\t(19.9)%\nFully diluted net income per share of common stock\t0.34\t0.35\t(2.3)%\t0.77\t0.91\t(15.8)%\n", "q10k_tbl_48": "\tFor the Three Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n\tAverage Outstanding Balance\tInterest Income/ Expense\tAverage Yield/ Rate\tAverage Outstanding Balance\tInterest Income/ Expense\tAverage Yield/ Rate\nInterest-Earning Assets\t\t\t\t\t\t\nLoans (1)\t1906449\t21398\t4.47%\t1445755\t19955\t5.48%\nLoans held for sale\t156123\t1398\t3.56%\t101835\t1050\t4.09%\nSecurities:\t\t\t\t\t\t\nTaxable investment securities (2)\t271838\t1332\t1.96%\t160528\t1211\t3.02%\nInvestment securities exempt from federal income tax (3)\t51851\t343\t3.35%\t50932\t354\t3.52%\nTotal securities\t323689\t1675\t2.18%\t211460\t1565\t3.14%\nCash balances in other banks\t499770\t171\t0.14%\t110690\t645\t2.31%\nFunds sold\t0\t0\t0\t144\t1\t3.46%\nTotal interest-earning assets\t2886031\t24642\t3.41%\t1869884\t23216\t4.95%\nNoninterest-earning assets\t157816\t\t\t136066\t\t\nTotal assets\t3043847\t\t\t2005950\t\t\nInterest-Bearing Liabilities\t\t\t\t\t\t\nInterest-bearing deposits:\t\t\t\t\t\t\nInterest-bearing transaction accounts\t840926\t640\t0.30%\t527759\t2102\t1.58%\nSavings and money market deposits\t610942\t2537\t1.65%\t494183\t1944\t1.56%\nTime deposits\t505391\t1299\t1.02%\t349046\t1887\t2.14%\nTotal interest-bearing deposits\t1957259\t4476\t0.91%\t1370988\t5933\t1.72%\nBorrowings and repurchase agreements\t39431\t510\t5.14%\t12174\t127\t4.12%\nTotal interest-bearing liabilities\t1996690\t4986\t0.99%\t1383162\t6060\t1.74%\nNoninterest-bearing deposits\t691205\t\t\t333885\t\t\nTotal funding sources\t2687895\t\t\t1717047\t\t\nNoninterest-bearing liabilities\t34446\t\t\t22462\t\t\nShareholders' equity\t321506\t\t\t266441\t\t\nTotal liabilities and shareholders' equity\t3043847\t\t\t2005950\t\t\nNet interest spread (4)\t\t\t2.42%\t\t\t3.21%\nNet interest income/margin (5)\t\t19656\t2.72%\t\t17156\t3.66%\n", "q10k_tbl_49": "\tFor the Nine Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n\tAverage Outstanding Balance\tInterest Income/ Expense\tAverage Yield/ Rate\tAverage Outstanding Balance\tInterest Income/ Expense\tAverage Yield/ Rate\nInterest-Earning Assets\t\t\t\t\t\t\nLoans (1)\t1630455\t56875\t4.66%\t1458828\t59673\t5.47%\nLoans held for sale\t170852\t4745\t3.71%\t86895\t2923\t4.50%\nSecurities:\t\t\t\t\t\t\nTaxable investment securities (2)\t216262\t3886\t2.40%\t176951\t4124\t3.11%\nInvestment securities exempt from federal income tax (3)\t46955\t975\t3.50%\t53360\t1093\t3.46%\nTotal securities\t263217\t4861\t2.59%\t230311\t5217\t3.19%\nCash balances in other banks\t278647\t640\t0.31%\t84333\t1502\t2.38%\nFunds sold\t24\t0\t2.77%\t990\t26\t3.52%\nTotal interest-earning assets\t2343195\t67121\t3.84%\t1861357\t69341\t5.00%\nNoninterest-earning assets\t143238\t\t\t138252\t\t\nTotal assets\t2486433\t\t\t1999609\t\t\nInterest-Bearing Liabilities\t\t\t\t\t\t\nInterest-bearing deposits:\t\t\t\t\t\t\nInterest-bearing transaction accounts\t715740\t3371\t0.63%\t476755\t5523\t1.55%\nSavings and money market deposits\t534859\t4819\t1.20%\t487743\t5445\t1.49%\nTime deposits\t380198\t4197\t1.47%\t380566\t5917\t2.08%\nTotal interest-bearing deposits\t1630797\t12387\t1.01%\t1345064\t16885\t1.68%\nBorrowings and repurchase agreements\t23907\t742\t4.14%\t57472\t1290\t3.00%\nTotal interest-bearing liabilities\t1654704\t13129\t1.06%\t1402536\t18175\t1.73%\nNoninterest-bearing deposits\t509739\t\t\t312505\t\t\nTotal funding sources\t2164443\t\t\t1715041\t\t\nNoninterest-bearing liabilities\t28000\t\t\t22953\t\t\nShareholders' equity\t293990\t\t\t261615\t\t\nTotal liabilities and shareholders' equity\t2486433\t\t\t1999609\t\t\nNet interest spread (4)\t\t\t2.78%\t\t\t3.27%\nNet interest income/margin (5)\t\t53992\t3.09%\t\t51166\t3.70%\n", "q10k_tbl_50": "\tNet interest income change\nIncrease 200bp\t5.3%\nIncrease 100bp\t2.3\nDecrease 100bp\t0.7\nDecrease 200bp\t2.0\n", "q10k_tbl_51": "\t\t\t2020 - 2019\t\t\t2020 - 2019\n\tThree Months Ended\t\tPercent\tNine Months Ended\t\tPercent\n\tSeptember 30\t\tIncrease\tSeptember 30\t\tIncrease\n\t2020\t2019\t(Decrease)\t2020\t2019\t(Decrease)\nNoninterest income:\t\t\t\t\t\t\nTreasury management and other deposit service charges\t1064\t788\t35.1%\t2531\t2399\t5.5%\nNet gain (loss) on sale of securities\t34\t0\t11621.4%\t74\t(108)\t168.2%\nTri-Net fees\t668\t847\t(21.1)%\t2528\t2511\t0.6%\nMortgage banking income\t9686\t2679\t261.6%\t19063\t7151\t166.6%\nWealth management fees\t382\t379\t0.7%\t1162\t1018\t14.1%\nInterchange and debit card transaction fees\t936\t754\t24.2%\t2389\t2323\t2.9%\nOther noninterest income\t2034\t1341\t51.6%\t3753\t3261\t15.1%\nTotal noninterest income\t14804\t6788\t118.1%\t31500\t18555\t69.8%\n", "q10k_tbl_52": "\t\t\t2020 - 2019\t\t\t2020 - 2019\n\tThree Months Ended\t\tPercent\tNine Months Ended\t\tPercent\n\tSeptember 30\t\tIncrease\tSeptember 30\t\tIncrease\n\t2020\t2019\t(Decrease)\t2020\t2019\t(Decrease)\nNoninterest expense:\t\t\t\t\t\t\nSalaries and employee benefits\t12949\t9229\t40.3%\t33256\t26224\t26.8%\nData processing and software\t2353\t1790\t31.5%\t6317\t5126\t23.2%\nProfessional fees\t638\t528\t20.9%\t1854\t1571\t18.0%\nOccupancy\t999\t858\t16.4%\t2615\t2550\t2.6%\nEquipment\t864\t1012\t(14.6)%\t2295\t2890\t(20.6)%\nRegulatory fees\t397\t18\t2133.7%\t893\t564\t58.3%\nMerger related expenses\t2548\t187\t1266.1%\t3286\t2491\t31.9%\nAmortization of intangibles\t539\t408\t32.1%\t1300\t1258\t3.3%\nOther operating\t1452\t1501\t(3.4)%\t4067\t4054\t0.3%\nTotal noninterest expense\t22739\t15531\t46.4%\t55883\t46728\t19.6%\n", "q10k_tbl_53": "\tSeptember 30 2020\t\tDecember 31 2019\t\n\tAmount\tPercent\tAmount\tPercent\nCommercial real estate - owner occupied\t164336\t8.6%\t172456\t12.1%\nCommercial real estate - non-owner occupied\t480106\t25.1%\t387443\t27.3%\nConsumer real estate\t350238\t18.4%\t256097\t18.0%\nConstruction and land development\t176751\t9.3%\t143111\t10.1%\nCommercial and industrial\t648018\t34.0%\t394408\t27.8%\nConsumer\t42104\t2.2%\t28426\t2.0%\nOther\t45050\t2.4%\t38161\t2.7%\nTotal loans\t1906603\t100.0%\t1420102\t100.0%\n", "q10k_tbl_54": "\tSeptember 30 2020\tDecember 31 2019\nNon-accrual loans\t2945\t1464\nTroubled debt restructurings\t1885\t2717\nLoans past due over 89 days and still accruing\t542\t38\nNon-performing loans\t2945\t1464\nOther real estate owned\t171\t1044\nNon-performing assets\t3116\t2508\nNon-performing loans as a percentage of total loans\t0.15%\t0.10%\nNon-performing assets as a percentage of total assets\t0.10%\t0.12%\n", "q10k_tbl_55": "\tSeptember 30 2020\tDecember 31 2019\nCommercial real estate\t200\t0\nConsumer real estate\t1939\t894\nConstruction and land development\t140\t117\nCommercial and industrial\t533\t440\nConsumer\t129\t13\nOther\t4\t0\nTotal loans\t2945\t1464\n", "q10k_tbl_56": "(dollars in thousands except per share data)\tSeptember 30 2020\tDecember 31 2019\nTotal equity\t333895\t273046\nLess core deposit intangible\t(9154)\t(6883)\nLess goodwill\t(41068)\t(37510)\nTangible common equity\t283673\t228653\nTotal assets\t3024348\t2037201\nLess core deposit intangible\t(9154)\t(6883)\nLess goodwill\t(41068)\t(37510)\nTotal tangible assets\t2974126\t1992808\nTotal shareholders' equity to total assets\t11.04%\t13.40%\nTangible common equity ratio\t9.54%\t11.47%\nTotal shares of common stock outstanding\t21947805\t18361922\nBook value per share of common stock\t15.21\t14.87\nTangible book value per share of common stock\t12.92\t12.45\n", "q10k_tbl_57": "\tTotal number of shares purchased (1)\tAverage price paid per share\tTotal number of shares purchased as part of publicly announced plan (2)\tMaximum remaining dollar value of shares that may be purchased under the plan\nJuly 1 - July 31\t149\t11.08\t0\t7.56 million\nAugust 1 - August 31\t940\t10.15\t0\t7.56 million\nSeptember 1 - September 30\t0\t0\t0\t7.56 million\nTotal\t1089\t10.28\t0\t7.56 million\n", "q10k_tbl_58": "Exhibit Number\tDescription\n2.1\tAgreement and Plan of Merger dated as of June 11 2018 by and between CapStar Financial Holdings Inc. and Athens Bancshares Corporation (incorporated by reference herein to Exhibit 2.1 to the Company's Current Report on Form 8-K filed on June 14 2018)\n2.2\tAgreement and Plan of Merger dated as of January 23 2020 by and between CapStar Financial Holdings Inc. and FCB Corporation (incorporated by reference herein to Exhibit 2.1 to the Company's Current Report on Form 8-K filed on January 29 2020)\n2.3\tPlan of Bank Merger dated as of January 23 2020 by and among CapStar Financial Holdings Inc. CapStar Bank and The Bank of Waynesboro (incorporated by reference herein to Exhibit 2.2 to the Company's Current Report on Form 8-K filed on January 29 2020)\n3.1\tCharter of CapStar Financial Holdings Inc. (incorporated by reference herein to Exhibit 3.1 to the Company's Registration Statement on Form S-1 (File Number 333-213367) filed on August 29 2016)\n3.2\tArticles of Amendment to the Charter of CapStar Financial Holdings Inc. (incorporated by reference herein to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on April 29 2020)\n3.3\tAmended and Restated Bylaws of CapStar Financial Holdings Inc. (incorporated by reference herein to Exhibit 3.1 to the Company's Current Report on Form 8-K filed on October 28 2019)\n4.1\tForm of Common Stock Certificate (incorporated by reference herein to Exhibit 4.1 to Amendment No. 2 to the Company's Registration Statement on Form S-1 (File Number 333-213367) filed on September 20 2016)\n4.2\tSecond Amended and Restated Shareholders' Agreement dated as of August 22 2016 among CapStar Financial Holdings Inc. CapStar Bank Corsair III Financial Services Capital Partners L.P. Corsair III Financial Services Offshore 892 Partners L.P. North Dakota Investors LLC and certain other persons named therein (incorporated by reference herein to Exhibit 4.2 to the Company's Registration Statement on Form S-1 (File Number 333-213367) filed on August 29 2016)\n31.1\tCertification of Chief Executive Officer of CapStar Financial Holdings Inc. pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 as amended adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 as amended.**\n31.2\tCertification of Chief Financial Officer of CapStar Financial Holdings Inc. pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934 as amended adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 as amended.**\n32.1\tCertification of Chief Executive Officer of CapStar Financial Holdings Inc. pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 as amended.**\n32.2\tCertification of Chief Financial Officer of CapStar Financial Holdings Inc. pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 as amended.**\n101.INS*\tInline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.\n101.SCH*\tInline XBRL Taxonomy Extension Schema Document.\n101.CAL*\tInline XBRL Taxonomy Extension Calculation Linkbase Document.\n101.LAB*\tInline XBRL Taxonomy Label Linkbase Document.\n101.PRE*\tInline XBRL Taxonomy Presentation Linkbase Document.\n101.DEF*\tInline XBRL Taxonomy Extension Definition Linkbase Document.\n104\tThe cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30 2020 has been formatted in Inline XBRL.\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_4", "cf": "q10k_tbl_8"}None
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______ to ________.
Commission File Number: 001-37886
CAPSTAR FINANCIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Tennessee
81-1527911
(State or other jurisdiction of
incorporation or organization)
(IRS Employer
Identification No.)
1201 Demonbreun Street, Suite 700
Nashville, Tennessee
(Address of principal executive offices)
37203
(zip code)
(615) 732-6400
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer
☐
Accelerated Filer
☒
Non-Accelerated Filer
☐
Smaller Reporting Company
☒
Emerging Growth Company
☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.
The terms “we,” “our,” “us,” “CapStar,” “the Company,” “CSTR” and “CapStar Financial” that appear in this Quarterly Report on Form 10-Q (this “Report”) refer to CapStar Financial Holdings, Inc. and its wholly-owned subsidiary, CapStar Bank, which we sometimes refer to as “CapStar Bank,” “our bank subsidiary,” “the Bank” and “our Bank”.
This Report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “aspire,” “roadmap,” “achieve,” “estimate,” “intend,” “plan,” “project,” “projection,” “forecast,” “goal,” “target,” “would,” and “outlook,” or the negative version of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. The inclusion of these forward-looking statements should not be regarded as a representation by us or any other person that such expectations, estimates and projections will be achieved. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict and that are beyond our control. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date of this Report, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following:
The COVID-19 pandemic is adversely affecting us, our customers, employees, and third-party service providers, and the ultimate extent of the impacts on our business, including on our credit quality, business operations and liquidity, as well as its impact on general economic and financial market conditions, is uncertain. Continued deterioration in general business and economic conditions, or turbulence in domestic or global financial markets could adversely affect CapStar’s revenues and the values of our assets and liabilities, reduce the availability of funding, affect credit quality, and increase stock price volatility. The Company may not capitalize on opportunities to enhance market share in certain markets and the Company’s services may not be generally accepted in new markets; the ability of the Company to meet expectations regarding the benefits, costs, synergies and financial and operational impact of the FCB Corporation (“FCB”) and the Bank of Waynesboro (“BOW”) mergers; reputational risks and the reaction of shareholders, customers, employees or other constituents of the Company to the FCB and BOW mergers;the acceptance by customers of FCB and BOW of the Company’s products and services; the possibility that the FCB and BOW merger integrations will be more expensive or take more time to complete than anticipated; economic conditions (including interest rate environment, government economic and monetary policies, the strength of global financial markets and inflation and deflation) that impact the financial services industry as a whole and/or our business; the concentration of our business in our Target Market and the effect of changes in the economic, political and environmental conditions on this market; increased competition in the financial services industry, locally, regionally or nationally, which may adversely affect pricing and the other terms offered to our clients; an increase in the cost of deposits, loss of deposits or a change in the deposit mix, which could increase our cost of funding; an increase in the costs of capital, which could negatively affect our ability to borrow funds, successfully raise additional capital or participate in strategic acquisition opportunities; our dependence on our management team and board of directors and changes in our management and board composition; our reputation in the community; our ability to execute our strategy to achieve our loan, ROAA and efficiency ratio goals, hire seasoned bankers, and achieve deposit growth through organic growth and strategic acquisitions; credit risks related to the size of our borrowers and our ability to adequately identify, assess and limit our credit risk; our concentration of large loans to a small number of borrowers as well as geographic concentrations located within our Target Market; the significant portion of our loan portfolio that originated during the past two years and therefore may less reliably predict future collectability than older loans; the adequacy of reserves (including our allowance for loan losses) and the appropriateness of our methodology for calculating such reserves; non-performing loans and leases; non-performing assets; charge-offs, non-accruals, troubled debt restructurings, impairments and other credit-related issues; adverse trends in the healthcare service industry, which is an integral component of our Target Market’s economy and which could adversely affect the business operations of certain of our key borrowers; our management of risks inherent in our commercial real estate loan portfolio, and the risk of a prolonged downturn in the real estate market, which could impair the value of our collateral and our ability to sell collateral upon any foreclosure; our inability to realize operating efficiencies and tax savings from the implementation of our strategic plan; governmental legislation and regulation, including changes in the nature and timing of the adoption and effectiveness of new requirements under the Dodd-Frank Act of 2010, as amended, the Tax Cuts and Jobs Act of 2017, as amended, Basel guidelines, capital requirements, accounting regulation or standards and other applicable laws and regulations; the loss of large depositor relationships, which could force us to fund our business through more expensive and less stable sources; operational and liquidity risks
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associated with our business, including liquidity risks inherent in correspondent banking; volatility in interest rates and our overall management of interest rate risk, including managing the sensitivity of our interest-earning assets and interest-bearing liabilities to interest rates, and the impact to our earnings from a change in interest rates; the potential for our Bank’s regulatory lending limits and other factors related to our size to restrict our growth and prevent us from effectively implementing our business strategy; strategic acquisitions we may undertake to achieve our goals; the sufficiency of our capital, including sources of capital and the extent to which we may be required to raise additional capital to meet our goals; fluctuations in the fair value of our investment securities that are beyond our control; deterioration in the fiscal position of the U.S. government and downgrades in Treasury and federal agency securities; potential exposure to fraud, negligence, computer theft and cyber-crime; the adequacy of our risk management framework; our dependence on our information technology and telecommunications systems and the potential for any systems failures or interruptions; threats to and breaches of our information technology systems and data security, including cyber-attacks; our dependence upon outside third parties for the processing and handling of our records and data; our ability to adapt to technological change; the financial soundness of other financial institutions; our exposure to environmental liability risk associated with our lending activities; our engagement in derivative transactions; our involvement from time to time in legal proceedings and examinations and remedial actions by regulators; our involvement from time to time in litigation or other proceedings instituted by or against shareholders, customers, employees or third parties and the cost of legal fees associated with such litigation or proceedings; the susceptibility of our market to natural disasters and acts of God; and the effectiveness of our internal controls over financial reporting and our ability to remediate any future material weakness in our internal controls over financial reporting.
The foregoing factors should not be construed as exhaustive and should be read in conjunction withthose factors that are detailed from time to time in the Company’s periodic and current reports filed with the Securities and Exchange Commission (the “SEC”), including those factors included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 under the heading “Item 1A. Risk Factors” and in the Company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from our forward-looking statements. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this Report, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for us to predict their occurrence or how they will affect us.
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PART I. FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
CAPSTAR FINANCIAL HOLDINGS, INC. & SUBSIDIARY
Consolidated Balance Sheets
(Dollars in thousands, except share data)
September 30, 2020
(unaudited)
December 31, 2019
Assets
Cash and due from banks
$
39,917
$
17,726
Interest-bearing deposits in financial institutions
416,008
83,368
Federal funds sold
—
175
Total cash and cash equivalents
455,925
101,269
Securities available-for-sale, at fair value
308,337
213,129
Securities held-to-maturity, fair value of $2,526 and $3,411 at
September 30, 2020 and December 31, 2019, respectively
2,413
3,313
Loans held for sale, includes $112,002 and $30,740 measured
at fair value at September 30, 2020 and December 31, 2019, respectively
198,603
168,222
Loans
1,906,603
1,420,102
Less allowance for loan losses
(23,167
)
(12,604
)
Loans, net
1,883,436
1,407,498
Premises and equipment, net
27,728
19,184
Restricted equity securities
13,625
13,689
Accrued interest receivable
9,814
5,792
Goodwill
41,068
37,510
Core deposit intangible, net
9,154
6,883
Other real estate owned, net
171
1,044
Other assets
74,074
59,668
Total assets
$
3,024,348
$
2,037,201
Liabilities and Shareholders’ Equity
Deposits:
Non interest-bearing
$
716,707
$
312,096
Interest-bearing
791,601
607,211
Savings and money market accounts
604,495
506,692
Time
504,739
303,452
Total deposits
2,617,542
1,729,451
Federal Home Loan Bank advances
10,000
10,000
Subordinated notes
29,418
—
Other liabilities
33,493
24,704
Total liabilities
2,690,453
1,764,155
Shareholders’ equity:
Common stock, voting, $1 par value; 25,000,000 shares authorized; 21,947,805 and
18,361,922 shares issued and outstanding at September 30, 2020 and December 31,
2019, respectively
21,948
18,362
Additional paid-in capital
246,847
207,083
Retained earnings
58,296
46,218
Accumulated other comprehensive income, net of income tax
6,804
1,383
Total shareholders’ equity
333,895
273,046
Total liabilities and shareholders’ equity
$
3,024,348
$
2,037,201
See accompanying notes to consolidated financial statements (unaudited).
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CAPSTAR FINANCIAL HOLDINGS, INC. & SUBSIDIARY
Consolidated Statements of Income (Unaudited)
(Dollars in thousands, except share data)
Three Months Ended
Nine Months Ended
September 30,
September 30,
2020
2019
2020
2019
Interest income:
Loans, including fees
$
22,796
$
21,005
$
61,620
$
62,596
Securities:
Taxable
1,193
1,028
3,465
3,540
Tax-exempt
343
354
975
1,093
Federal funds sold
—
1
—
26
Restricted equity securities
139
183
421
584
Interest-bearing deposits in financial institutions
171
645
640
1,502
Total interest income
24,642
23,216
67,121
69,341
Interest expense:
Interest-bearing deposits
640
2,102
3,371
5,523
Savings and money market accounts
2,537
1,944
4,819
5,445
Time deposits
1,299
1,887
4,197
5,917
Federal funds purchased
—
—
—
4
Securities sold under agreements to repurchase
—
—
—
5
Federal Home Loan Bank advances
116
127
348
1,281
Subordinated notes
394
—
394
—
Total interest expense
4,986
6,060
13,129
18,175
Net interest income
19,656
17,156
53,992
51,166
Provision for loan losses
2,119
(125
)
11,295
761
Net interest income after provision for loan losses
17,537
17,281
42,697
50,405
Noninterest income:
Treasury management and other deposit service charges