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    Adam Kroll

    Research Analyst at Piper Sandler Companies

    Adam Kroll is an Equity Research Associate at Piper Sandler Companies, supporting sector research and analysis with a focus on institutional investor clients. His recent work involves equity market analysis and supporting the coverage of publicly traded companies, though specific firms covered and performance metrics have not been publicly disclosed. Adam began his professional career after earning a Bachelor of Business Administration and previously worked as an analyst at Fitch Ratings before joining Piper Sandler. His credentials include a strong academic background in finance, supporting roles in equity research, but there is no public record of advanced securities licenses or notable industry recognition.

    Adam Kroll's questions to HERITAGE FINANCIAL CORP /WA/ (HFWA) leadership

    Adam Kroll's questions to HERITAGE FINANCIAL CORP /WA/ (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 /MI/ (IBCP) leadership

    Adam Kroll's questions to INDEPENDENT BANK CORP /MI/ (IBCP) leadership • Q2 2025

    Question

    Adam Kroll, on behalf of Piper Sandler, questioned whether the net interest margin could continue to increase if the Fed holds rates steady. He also requested details on cash flows from the bond portfolio, the repricing schedule for fixed-rate loans, and the outlook for mortgage banking trends in the current quarter.

    Answer

    EVP & CFO Gavin Mohr confirmed his confidence that the margin would continue to grind higher if rates remain stable, barring funding market disruptions. He specified that approximately $110 million in securities and $121 million in fixed-rate loans are set to reprice in the next twelve months. Regarding mortgage banking, Mr. Mohr explained that the gain-on-sale margin was lower than anticipated due 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 /MI/ (IBCP) leadership • Q2 2025

    Question

    Adam Kroll of Piper Sandler Companies questioned whether the net interest margin could continue to expand if the Fed holds rates steady. He also requested details on cash flows from the bond portfolio, fixed-rate loan repricing schedules, and visibility into mortgage banking trends for the upcoming quarter.

    Answer

    EVP & CFO Gavin Mohr expressed confidence that the margin would 'grind higher' if rates remain stable, supported by loan repricing. He specified that approximately $110 million in securities and $121 million in fixed-rate loans are forecasted to reprice in the next 12 months. Regarding mortgage banking, Mohr attributed the recent drop in the loan sale margin to intense market competition, a pullback in GSE premiums, and a higher internal cost of origination.

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    Adam Kroll's questions to INDEPENDENT BANK CORP /MI/ (IBCP) leadership • Q2 2025

    Question

    Adam Kroll of Piper Sandler Companies, on behalf of Nathan Race, asked if the net interest margin could continue to increase if the Fed remains on hold. He also requested details on cash flows from the bond book, fixed-rate loan repricing over the next year, and visibility on mortgage banking trends for the current quarter.

    Answer

    EVP & CFO Gavin Mohr confirmed his confidence that the margin would continue to 'grind higher' if rates stay flat, barring funding market disruptions. He specified that approximately $110 million in securities and $121 million in fixed-rate loans (with a 6.15% exit rate) are forecasted to reprice in the next 12 months. Regarding mortgage trends, Mohr explained that the gain on sale margin was lower than anticipated due 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 /MI/ (IBCP) leadership • Q2 2025

    Question

    Adam Kroll from Piper Sandler Companies asked if the net interest margin could continue to expand if the Fed holds rates steady. He also requested details on cash flows from the bond book, fixed-rate loan repricing, and visibility on mortgage banking trends for the upcoming quarter.

    Answer

    EVP & CFO Gavin Mohr confirmed his confidence that the margin would continue to grind higher if rates remain stable, barring funding disruptions. He noted approximately $110 million in securities and $121 million in fixed-rate loans are set to reprice in the next twelve months. Regarding mortgage banking, he explained that the lower gain-on-sale margin was driven by intense market competition, a pullback in GSE premiums, and an annual review of origination costs.

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    Adam Kroll's questions to INDEPENDENT BANK CORP /MI/ (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 Bridgewater Bancshares (BWB) leadership

    Adam Kroll's questions to Bridgewater Bancshares (BWB) leadership • Q2 2025

    Question

    Adam Kroll from Piper Sandler Companies inquired about the primary drivers of loan growth for the second half of the year, specifically if CRE would continue to lead, and asked for more color on competition and spread compression. He also asked about the M&A outlook after the First Minnetonka Citibank (FMCB) systems conversion.

    Answer

    Chief Banking Officer Nick Place stated that loan growth in the latter half of the year is expected across all typical verticals, not just CRE, with a notable focus on the expanding affordable housing space. He noted that competition from local players has increased and that the Old National acquisition of Bremer Bank is expected to create more opportunities. CEO & Chairman Jerry Baack addressed M&A, reiterating that while conversations are ongoing, the primary focus remains on organic growth.

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    Adam Kroll's questions to HANMI FINANCIAL (HAFC) leadership

    Adam Kroll's questions to HANMI FINANCIAL (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 (PEBO) leadership

    Adam Kroll's questions to PEOPLES BANCORP (PEBO) leadership • Q2 2025

    Question

    Adam Kroll from Piper Sandler Companies asked for clarification on the full-year loan growth guidance of mid-single digits, given the strong 11% annualized growth in Q2. He also inquired about the outlook for deposit growth, the competitive landscape for deposit pricing, and the potential to reduce non-maturity deposit costs.

    Answer

    President & CEO Tyler Wilcox stated that while loan pipelines remain robust, the full-year guidance accounts for higher expected pay-downs in the second half of the year. CFO Katie Bailey added that deposit growth will be influenced by seasonal patterns in governmental deposits and continued focus on retail CD gathering. She described the deposit pricing competition as stable and confirmed that the bank is actively managing rates downward where possible, even without Fed action.

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    Adam Kroll's questions to PEOPLES BANCORP (PEBO) leadership • Q2 2025

    Question

    Adam Kroll asked for clarification on the mid-single-digit loan growth guidance for 2025, given the strong 11% annualized growth in Q2, and also inquired about the outlook for deposit growth, the competitive pricing landscape, and any opportunities to reduce non-maturity deposit costs.

    Answer

    Tyler Wilcox, President, CEO & Director, clarified that while loan pipelines remain strong, the full-year guidance reflects an expectation of higher loan pay-downs in the second half of the year. Kathryn Bailey, EVP & CFO, addressed funding, noting that seasonal outflows in governmental deposits would reverse in Q3. She described the deposit competition as stable and confirmed that the bank is actively managing deposit costs downward, even without action from the Federal Reserve.

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    Adam Kroll's questions to PEOPLES BANCORP (PEBO) leadership • Q2 2025

    Question

    Adam Kroll from Piper Sandler Companies asked about the drivers behind the strong Q2 loan growth and why the full-year guidance remained at mid-single digits. He also inquired about the outlook for deposit growth, competition for deposit pricing, and the potential to reduce non-maturity deposit costs if the Fed remains on hold.

    Answer

    President & CEO Tyler Wilcox attributed the conservative full-year loan growth guidance of 4-6% to expectations of slightly elevated paydowns in the second half of the year, despite strong pipelines. CFO Kathryn Bailey added that deposit growth will see seasonal increases in Q3 from governmental deposits and that competition remains stable. She confirmed that the bank continues to actively manage and reduce deposit costs even without Fed rate cuts.

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    Adam Kroll's questions to PEOPLES BANCORP (PEBO) leadership • Q2 2025

    Question

    Adam Kroll asked for clarification on the strong Q2 loan growth relative to the maintained full-year guidance of mid-single digits. He also inquired about the outlook for deposit growth, competition for deposit pricing, and potential opportunities to reduce non-maturity deposit costs if the Fed remains on hold.

    Answer

    President and CEO Tyler Wilcox attributed the conservative guidance to expectations for slightly elevated loan pay-downs in the second half of the year, despite strong pipelines. CFO Kathryn Bailey added that deposit competition is stable and they anticipate seasonal growth in governmental deposits in Q3. Bailey confirmed that the bank is actively managing deposit costs and will continue to seek reduction opportunities, even without Federal Reserve rate cuts.

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    Adam Kroll's questions to PEOPLES BANCORP (PEBO) leadership • Q2 2025

    Question

    Adam Kroll from Piper Sandler Companies asked about the drivers behind the strong Q2 loan growth and the decision to maintain the mid-single-digit full-year guidance. He also inquired about the outlook for deposit growth and pricing competition, and whether there were opportunities to reduce non-maturity deposit costs without Fed rate cuts.

    Answer

    President & CEO Tyler Wilcox clarified that while loan demand is robust, they anticipate slightly elevated paydowns in the second half of the year, justifying the 4-6% full-year growth guidance. CFO Katie Bailey added that deposit competition is stable and they expect seasonal growth in governmental deposits in Q3. She confirmed that the bank actively manages deposit pricing and has been reducing costs even without Fed action, a practice that will continue.

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    Adam Kroll's questions to MERCANTILE BANK (MBWM) leadership

    Adam Kroll's questions to MERCANTILE BANK (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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