Capstar Financial Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Tax Rate Guidance for Fiscal 2019
October 24, 2018 at 07:48 pm EDT
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Capstar Financial Holdings, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, total interest income was $15,782,000 against $13,521,000 a year ago. Net interest income was $11,543,000 against $10,843,000 a year ago. Income before income taxes was $4,210,000 against $5,935,000 a year ago. Net income was $3,656,000 against $4,419,000 a year ago. Diluted net income per common share was $0.28 against $0.35 a year ago. Non-GAAP operating net income was $4,055,000 against $4,420,000 a year ago. Non-GAAP operating diluted net income per share of common stock was $0.31 against $0.35 a year ago. Non-GAAP annualized return on average assets was 1.13% against 1.28% a year ago. Operating annualized return on average tangible equity was 10.72% against 12.96% a year ago. Book value per common share as on September 30, 2018 was $12.25 against $11.92 as on September 30, 2017. Tangible book value per share as on September 30, 2018 was $11.74 against $11.36 as on September 30, 2017. Total revenues were $14,761,000 against $14,215,000 a year ago.
For the nine months, total interest income was $44,880,000 against $38,390,000 a year ago. Net interest income was $33,976,000 against $31,345,000 a year ago. Income before income taxes was $12,065,000 against $1,550,000 a year ago. Net income was $10,363,000 against $1,409,000 a year ago. Diluted net income per common share was $0.79 against $0.11 a year ago. Non-GAAP operating net income was $11,009,000 against $1,409,000 a year ago. Non-GAAP operating diluted net income per share of common stock was $0.84 against $0.11 a year ago. Non-GAAP annualized return on average assets was 1.06% against 0.14% a year ago. Non-GAAP operating annualized return on average tangible equity was 10.09% against 1.39% a year ago. Total revenues were $43,048,000 against $39,516,000 a year ago.
The company expects tax rate to be between 21% to 23% for 2019.
CapStar Financial Holdings, Inc. is a bank holding company. The Company operates primarily through its wholly owned subsidiary, CapStar Bank. The Company provides traditional banking and other financial services through its 31 bank locations and 360 associates. Through Commercial Banking service, it offers a full range of banking services to businesses and professionals, including deposit and savings accounts, treasury management services, as well as financing for commercial and industrial needs, owner-occupied real estate, construction and land development, and non-owner-occupied income producing real estate some of which are sold in the secondary market. Through Consumer Banking service, it offers a full range of banking services to individuals, including deposit and savings accounts, as well as residential real estate loans, home equity loans, and other consumer loans. through Wealth Management service, it specializes in helping individuals develop sound retirement strategies.
Capstar Financial Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Tax Rate Guidance for Fiscal 2019