Research Analyst at Hovde Capital Advisors LLC
Anya Pelshaw is an analyst at Hovde Group, though specific details about her job title, companies covered, performance metrics, career timeline, and professional credentials were not available. Without access to her LinkedIn profile or other public sources, it's challenging to provide detailed information about her specialization or achievements.
Anya Pelshaw inquired about the growth observed from new lenders, particularly those hired in the Houston market.
President Keith Donahoe and CEO Lee Gibson reported positive traction and loan growth from new hires in Houston, noting their staggered start dates and contributions to both deposits and C&I growth, with overall Houston loan growth around 15% this year.
Anya Pelshaw inquired about the nature of the growth in Demand Deposit Accounts (DDA), specifically whether it was seasonal or sticky. She also asked for an update on the loan growth contributions from new lenders, particularly those in the Houston market.
President Keith Donahoe clarified that DDA growth was not seasonal, attributing it to large depositors from enterprise business, and expected moderation in Q4. He and CEO Lee Gibson reported positive traction from new C&I-focused hires in Houston, noting their success in gathering both deposits and loans, contributing to approximately 15% loan growth in Houston this year. They also highlighted C&I growth from existing East Texas markets.
Anya Pelshaw asked for more details on commercial loan payoff activity that might affect future growth. She also inquired if there were any other concerns regarding credit quality beyond what had already been discussed.
José Rafael Fernández, CEO and Chairman, explained that while payoffs are hard to predict, there's a small seasonal pattern in Q3 for lines of credit related to federal funding for certain clients, but no significant variability is expected in Q4. He reiterated that apart from two idiosyncratic commercial loans, there were no other credit quality concerns in the consumer or auto books, supported by the strong economic activity and liquidity in Puerto Rico.
Anya Pelshaw inquired about potential future payoff activity affecting commercial loans, seeking more detail beyond general loan growth discussions. She also asked if there were any other notable trends or concerns regarding overall credit quality, in addition to the charge-offs already discussed.
José Rafael Fernández, Chief Executive Officer and Chairman of the Board of Directors, explained that while payoffs are hard to predict, there's a small Q3 seasonality for lines of credit related to federal funding cycles, with no significant variability expected in Q4. Regarding general credit quality, Mr. Fernández reiterated that apart from the two idiosyncratic commercial loans mentioned earlier, there are no other concerns in the consumer or auto books, supported by strong economic activity and liquidity in Puerto Rico.
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