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    Adam Kroll • Piper Sandler

    Adam Kroll's questions to Heritage Financial Corp (HFWA) leadership

    Adam Kroll's questions to Heritage Financial Corp (HFWA) leadership • Q2 2025

    Question

    Adam Kroll, on behalf of Matthew Clark at Piper Sandler Companies, asked about the primary opportunities for loan growth, the impact of tariff uncertainty on borrower sentiment, the spot deposit rate and NIM for June, and the timing of the quarter's securities trade.

    Answer

    President & CEO Bryan D. McDonald identified CRE as a key driver in Q2, with more balance expected ahead, and noted that tariff uncertainty has likely suppressed the loan pipeline by 5-10%. EVP & CFO Donald Hinson provided the June-end spot rate for interest-bearing deposits at 1.92%, the June NIM at 3.58%, and confirmed the securities repositioning occurred mostly in June.

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    Adam Kroll's questions to Independent Bank Corp (Michigan) (IBCP) leadership

    Adam Kroll's questions to Independent Bank Corp (Michigan) (IBCP) leadership • Q2 2025

    Question

    Adam Kroll of Piper Sandler Companies, on behalf of Nathan Race, questioned if the net interest margin could continue to expand if the Fed holds rates steady. He also asked for details on cash flows from the bond book, fixed-rate loan repricing, and the outlook for mortgage banking trends in the current quarter.

    Answer

    EVP & CFO Gavin Mohr confirmed his confidence that the margin would 'grind higher' if rates remain stable, barring funding market disruptions. He provided specifics on securities and fixed-rate loans repricing over the next year. Regarding mortgages, he attributed the lower gain-on-sale margin to intense market competition, changes in GSE premiums, and a higher internal cost of origination.

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    Adam Kroll's questions to Independent Bank Corp (Michigan) (IBCP) leadership • Q4 2024

    Question

    Adam Kroll from Piper Sandler asked about the volume of assets repricing in the next 12 months, the funding strategy for projected loan growth, and the current competitive landscape for deposit pricing.

    Answer

    EVP and CFO Gavin Mohr provided asset repricing data, stating that 46.9% of total assets reprice in the next 12 months, which includes securities runoff. He also noted the bank is targeting around 3% core deposit growth to help fund loans. Regarding competition, he acknowledged it remains strong with 'one-off specials' in the market, but the bank has been able to make some downward adjustments to its deposit rates.

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    Adam Kroll's questions to Hanmi Financial Corp (HAFC) leadership

    Adam Kroll's questions to Hanmi Financial Corp (HAFC) leadership • Q2 2025

    Question

    Adam Kroll, on for Matthew Clark, asked for the remaining outstanding balance on the syndicated office loan that was charged off and the total size of the bank's syndicated loan portfolio. He also questioned management's comfort with the current allowance for credit losses and whether there were plans to hire additional C&I and SBA bankers in the near future.

    Answer

    CEO Bonita Lee stated that the remaining exposure on the specific syndicated loan is approximately $11 million. CBO Anthony Kim added that the entire syndicated portfolio is about $250 million, representing 4% of total loans. CFO Romolo Santarosa expressed comfort with the current reserve level of 1.06%, expecting it to grow in line with the loan portfolio. Regarding hiring, CEO Lee clarified that major recruitment was completed in the first half of the year and headcount is expected to hold steady.

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    Adam Kroll's questions to Peoples Bancorp Inc (PEBO) leadership

    Adam Kroll's questions to Peoples Bancorp Inc (PEBO) leadership • Q2 2025

    Question

    Adam Kroll of Piper Sandler Companies asked for color on the mid-single-digit loan growth guidance despite a strong Q2, the outlook for deposit growth, and recent trends in deposit pricing competition. He also asked about opportunities to reduce non-maturity deposit costs.

    Answer

    President & CEO Tyler Wilcox noted that while loan demand is robust, they anticipate slightly elevated pay-downs in the second half, keeping the 4-6% guidance appropriate. CFO Katie Bailey added that deposit growth will see seasonal boosts from governmental deposits in Q3, and competition remains stable. Bailey confirmed they are actively managing deposit rates down, even without Fed action, and will continue to seek opportunities for cost reduction.

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    Adam Kroll's questions to Mercantile Bank Corp (MBWM) leadership

    Adam Kroll's questions to Mercantile Bank Corp (MBWM) leadership • Q1 2025

    Question

    Adam Kroll, on behalf of Nathan Race at Piper Sandler, asked about potential expense levers if loan growth slows, whether fee income guidance includes a normalization in swap fees, and the outlook for the typical seasonal uptick in mortgage originations.

    Answer

    EVP and CFO Charles Christmas responded that the bank is managed for the long term and would not pull significant expense levers for a short-term slowdown, though provision expense would naturally decline. He confirmed the guidance assumes swap fee income will normalize from Q1's anomalously low level. President and CEO Raymond Reitsma noted that while mortgage activity typically increases seasonally, current uncertainty has muted this trend.

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