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    Brandon King

    Managing Director and Senior Equity Research Analyst at Truist Securities

    Brandon King is a Managing Director and Senior Equity Research Analyst at Truist Securities, specializing in regional banks and the broader financial sector. He covers numerous major banks including Wintrust Financial, Pinnacle Financial Partners, Glacier Bancorp, and several others, earning a reputation for high accuracy with a performance track record that includes an over 78% success rate and an average return above 17% per recommendation, as ranked among the top 15 Wall Street analysts. King began his analyst career prior to joining Truist, having held similar roles at other investment firms, and has consistently maintained leadership in financials coverage since joining Truist. He holds professional credentials including FINRA Series 7, 63, and 86/87 licenses.

    Brandon King's questions to Ameris Bancorp (ABCB) leadership

    Brandon King's questions to Ameris Bancorp (ABCB) leadership • Q3 2024

    Question

    Brandon King of Truist Securities asked for the specific deposit beta assumption in the NIM forecast, the outlook for mortgage gain-on-sale margins, and whether higher capital levels signal a greater openness to M&A in 2025.

    Answer

    Executive Nicole Stokes stated the model assumes a 55% deposit beta on the way down. CEO H. Proctor expects the mortgage gain-on-sale margin to rebound towards its guided range next quarter. He clarified that while capital provides optionality, the primary focus remains on organic growth, and any M&A would have to be a "very special" opportunity.

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    Brandon King's questions to WESTERN ALLIANCE BANCORPORATION (WAL) leadership

    Brandon King's questions to WESTERN ALLIANCE BANCORPORATION (WAL) leadership • Q3 2024

    Question

    Brandon King asked about the core noninterest expense run rate, stripping out ECR deposit costs. He noted a recent quarterly growth rate of 4-5% and questioned if this was a sustainable pace, especially considering the infrastructure build for becoming a Category IV bank.

    Answer

    CEO Ken Vecchione addressed the question by focusing on the adjusted efficiency ratio (which excludes deposit fees). He stated the bank's goal is for this ratio to decline throughout 2025, reaching a level at or near 50% by year-end. He confirmed that the costs associated with the Category IV infrastructure build are already embedded in this forecast.

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    Brandon King's questions to SYNOVUS FINANCIAL (SNV) leadership

    Brandon King's questions to SYNOVUS FINANCIAL (SNV) leadership • Q3 2024

    Question

    Brandon King of Truist Securities inquired about Synovus's net interest margin (NIM) expectations beyond Q4 2024, particularly in a protracted easing cycle, and sought commentary on the confidence in maintaining net charge-offs within the guided range.

    Answer

    Chief Financial Officer Jamie Gregory explained that while the NIM is expected to be stable in the near term, it should expand once the easing cycle concludes due to the repricing of fixed-rate assets. An executive, Bob Derrick, affirmed confidence in the 25 to 35 basis point net charge-off guidance range, noting the recent quarter was at the low end of that range.

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    Brandon King's questions to COLUMBIA BANKING SYSTEM (COLB) leadership

    Brandon King's questions to COLUMBIA BANKING SYSTEM (COLB) leadership • Q2 2024

    Question

    Brandon King of Truist requested further details on the scope and findings of the bank's targeted credit reviews, including appraisal practices, and asked for an outlook on core fee income momentum.

    Answer

    Chief Credit Officer Frank Namdar reported no surprises from the credit reviews, highlighting the strong performance of the commercial real estate portfolio and proactive management of repricing risk. He clarified that formal reappraisals are not standard but internal valuations are updated using current rent rolls. President of Commercial Banking Torran Nixon noted strong fee income growth, up 7% QoQ and 14% YoY in key categories, driven by treasury management, commercial card, and other services, with a strong pipeline. President of Consumer Banking Christopher Merrywell added that wealth management and merchant services are also contributing positively.

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    Brandon King's questions to BANC OF CALIFORNIA (BANC) leadership

    Brandon King's questions to BANC OF CALIFORNIA (BANC) leadership • Q2 2024

    Question

    Brandon King of Truist Securities, Inc. asked about the key variables for the Q4 net interest margin (NIM) guidance, the primary drivers of the expected decline in cost of funds, and the potential earn-back period for a securities restructuring.

    Answer

    CFO Joe Kauder stated the NIM guidance range reflects market uncertainty, with potential upside from faster NIB growth or accelerated rate cuts. He clarified the expected cost of funds decline is mainly driven by balance sheet actions, such as paying down expensive funding with CIVIC sale proceeds, rather than relying on rate cuts. CEO Jared Wolff and Kauder estimated a securities restructuring earn-back period of just over two years, emphasizing the goal of achieving permanent profitability enhancements.

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    Brandon King's questions to IBTX leadership

    Brandon King's questions to IBTX leadership • Q4 2023

    Question

    Inquired about the pace and quantification of Net Interest Income (NII) growth for 2024, loan growth expectations, the potential range of outcomes for the Net Interest Margin (NIM) under different rate scenarios, and the risks to achieving these targets.

    Answer

    Management expects NII to inflect higher in Q1/Q2 2024 and accelerate through the year, driven by enhanced liability sensitivity. They project the NIM could reach ~3% by year-end 2024 and return to a historic ~3.5-3.6% by late 2025. Loan growth is expected to moderate to mid-single digits. The primary risk to this outlook is a significant negative change in the macroeconomic or liquidity environment.

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    Brandon King's questions to IBTX leadership • Q3 2023

    Question

    Asked about the trajectory of loan yield increases, when that increase might peak, and the strategy for deposit growth relative to loan growth.

    Answer

    Executives expect the pace of loan yield expansion to increase in Q4 and continue through 2024, driven by recent production and pricing power. They plan to grow deposits in line with mid-single-digit loan growth to maintain the current loan-to-deposit ratio, which was intentionally lowered in Q3 for balance sheet strength.

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