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    Ben Gerlinger • Citigroup

    Ben Gerlinger's questions to UMB Financial Corp (UMBF) leadership

    Ben Gerlinger's questions to UMB Financial Corp (UMBF) leadership • Q2 2025

    Question

    Ben Gerlinger of Citigroup requested the core net interest margin for the month of June to better understand the run-rate, given the flat guidance for Q3. He also asked about the underlying driver for the accelerated purchase accounting accretion from early loan payoffs.

    Answer

    CFO Ram Shankar declined to provide a specific June margin, noting it wouldn't be material due to various accruals, and reiterated confidence in the flat Q3 NIM guidance. CEO Mariner Kemper attributed the early payoffs and related accretion to the ongoing strategic alignment of the acquired Heartland loan portfolio, as certain credits were moved out sooner than anticipated.

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    Ben Gerlinger's questions to Wintrust Financial Corp (WTFC) leadership

    Ben Gerlinger's questions to Wintrust Financial Corp (WTFC) leadership • Q2 2025

    Question

    Ben Gerlinger of Citigroup questioned the company's ability to lower deposit rates quickly in response to potential Fed rate cuts, given the significant deposit growth in the quarter.

    Answer

    EVP & CFO David Stoehr affirmed that Wintrust would be able to pass on a 25 basis point cut to its discretionary accounts, similar to past cycles. He added that while CDs take time to reprice, many current offerings have shorter terms, which would accelerate the benefit.

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    Ben Gerlinger's questions to Old National Bancorp (ONB) leadership

    Ben Gerlinger's questions to Old National Bancorp (ONB) leadership • Q2 2025

    Question

    Ben Gerlinger asked for the spot rates on loans and securities and questioned the company's capital deployment strategy, particularly regarding the potential for share buybacks.

    Answer

    CFO John Moran provided spot rate details, noting new loan production yields are in the high 6% range. CEO & Chairman James Ryan addressed capital deployment, stating that while the bank is closer to considering buybacks due to a stronger-than-expected capital position post-merger, the immediate focus is on building capital and completing the Bremer systems conversion.

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    Ben Gerlinger's questions to Webster Financial Corp (WBS) leadership

    Ben Gerlinger's questions to Webster Financial Corp (WBS) leadership • Q2 2025

    Question

    Ben Gerlinger of Citigroup asked about the long-term fee income potential from the Marathon joint venture and whether the partnership could extend to banking Marathon's other relationships.

    Answer

    COO & President Luis Massiani described a dual opportunity: near-term fees from capital markets activities on larger deals and a longer-term, recurring asset management fee stream from the JV. Chairman & CEO John Ciulla emphasized the JV's focus is on enhancing offerings for Webster's existing clients and did not comment on future opportunities with Marathon's other relationships.

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    Ben Gerlinger's questions to Pinnacle Financial Partners Inc (PNFP) leadership

    Ben Gerlinger's questions to Pinnacle Financial Partners Inc (PNFP) leadership • Q2 2025

    Question

    Ben Gerlinger from Citigroup asked about the scale of organic growth from the 2020-2024 cohort of new hires, questioning if this robust pipeline reduces the company's appetite for M&A, and also inquired about future geographic expansion plans.

    Answer

    President and CEO Terry Turner confirmed the significant growth potential from the new hire cohort, stating this successful organic model makes M&A for growth purposes unlikely. He clarified that M&A is one of five succession planning avenues the board considers. Regarding geography, Turner said the focus is on deepening their presence in existing markets, particularly in Florida, with Texas as a potential future expansion area.

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    Ben Gerlinger's questions to Hancock Whitney Corp (HWC) leadership

    Ben Gerlinger's questions to Hancock Whitney Corp (HWC) leadership • Q2 2025

    Question

    Ben Gerlinger from Citigroup asked about the outlook for the Shared National Credits (SNC) portfolio and questioned how deposit pricing betas might react to smaller, 25-basis-point rate cuts.

    Answer

    President and CEO John Hairston indicated that the SNC portfolio is stable at around 9.5% of loans and is not expected to see significant runoff. CFO Michael Achary explained that with small rate cuts, he expects deposit betas to move closer to their cycle-end targets, emphasizing the company's proactive stance on reducing funding costs.

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