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    Austin Nicholas

    Research Analyst at Stephens Inc.

    Austin Nicholas's questions to UNITED BANKSHARES INC/WV (UBSI) leadership

    Austin Nicholas's questions to UNITED BANKSHARES INC/WV (UBSI) leadership • Q2 2017

    Question

    Austin Nicholas from Stephens Inc. asked for clarification on the 9-11% loan growth guidance, reasons for lower CRE balances, details on charge-offs and OREO reduction, the cause of an uptick in non-performing assets, the outlook for the net interest margin, and the M&A environment.

    Answer

    CFO Bruce Thomas confirmed the 9-11% loan growth guidance is for the full year and explained the net interest margin should improve due to a rebound in securities yield and a strategic shift from wholesale funding to retail deposits. CEO Rex Smith noted the non-performing asset increase was from a single relationship that is now current and affirmed the company's active interest in M&A opportunities in the Mid-Atlantic.

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    Austin Nicholas's questions to ESXB leadership

    Austin Nicholas's questions to ESXB leadership • Q4 2016

    Question

    Austin Nicholas of Stephens Inc. asked for details on Q4 net charge-offs, the loan growth outlook for 2017, and the expected net interest margin trajectory for the first half of the year. He also inquired about plans to rebuild the mortgage banking business and sought clarification on the low mortgage income in Q4.

    Answer

    President and CEO Rex Smith clarified that Q4 charge-offs were diverse with no single large credit. He projected a 9-10% loan growth rate for 2017, focusing on C&I and small business loans. Smith anticipated a stable net interest margin in Q1 2017 with upside from potential rate hikes. He also detailed plans to rebuild the mortgage division by hiring a new lead and additional lenders, expressing optimism for growing non-interest income. He confirmed no hedging activities impacted Q4 mortgage income.

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    Austin Nicholas's questions to UNION BANKSHARES (UNB) leadership

    Austin Nicholas's questions to UNION BANKSHARES (UNB) leadership • Q4 2015

    Question

    Austin Nicholas asked if the company's asset sensitivity had changed quarter-over-quarter and inquired about hiring activity and growth plans within the wealth management business.

    Answer

    CFO Rob Gorman confirmed that the company's asset sensitivity profile has not changed materially from the prior quarter. EVP Jeff Farrar reported that the company has been actively hiring client advisors and trust advisors for its wealth management division, particularly in newer markets like Hampton Roads, and plans to begin reporting wealth management as a separate segment to provide better performance optics.

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