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    Charlie Driscoll • Keefe, Bruyette & Woods

    Charlie Driscoll's questions to First Commonwealth Financial Corp (FCF) leadership

    Charlie Driscoll's questions to First Commonwealth Financial Corp (FCF) leadership • Q2 2025

    Question

    Charlie Driscoll, on behalf of Keefe, Bruyette & Woods, asked about the sustainability of the strong organic loan growth momentum and specifically sought details on the growth outlook for the equipment finance portfolio.

    Answer

    Chief Lending Officer Mike McCuen acknowledged a potential summer slowdown but expects activity to remain strong into Q4. Regarding equipment finance, CEO Thomas Michael Price explained that as a relatively new business, its high growth rate was expected but will likely flatten as the initial five-year loans begin to mature in about a year. McCuen added that the portfolio's credit quality is strong and it enhances existing client relationships by providing new financing options.

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    Charlie Driscoll's questions to WSFS Financial Corp (WSFS) leadership

    Charlie Driscoll's questions to WSFS Financial Corp (WSFS) leadership • Q2 2025

    Question

    Charlie Driscoll of Keefe, Bruyette & Woods (KBW) asked for confirmation that the second quarter's expense level is a good run rate, sought an update on the Cash Connect insurance recovery and its broader profitability trends, and inquired about the longer-term margin outlook into 2026.

    Answer

    EVP & CFO David Burg confirmed that Q2 expenses, excluding a one-time $1.6 million insurance recovery in Cash Connect, represent a good run rate. He stated that WSFS will continue to invest in talent and technology for long-term growth. Regarding Cash Connect, Burg noted that profitability is improving toward a high-single-digit margin, with a goal of reaching the teens, driven by pricing actions and the benefit of rate cuts. For 2026, Burg declined to give specific guidance but reiterated the company's goal to perform in the top quintile of peers and drive ROA higher, supported by fee business growth.

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    Charlie Driscoll's questions to Heritage Financial Corp (HFWA) leadership

    Charlie Driscoll's questions to Heritage Financial Corp (HFWA) leadership • Q2 2025

    Question

    Charlie Driscoll, representing Kelly Mosser of Keefe, Bruyette & Woods, Inc., questioned the production ramp-up of new lending teams, the potential for future team lift-outs, and the outlook for loan yields absent any Fed rate cuts.

    Answer

    President & CEO Bryan D. McDonald reported that both the new construction and Spokane teams are performing well and meeting expectations, and the bank remains open to further lift-outs. Both McDonald and EVP & CFO Donald Hinson affirmed that loan yields are expected to continue rising, driven by new loans originating at higher rates (6.8%) than the current portfolio average (5.5%) and the repricing of existing loans.

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    Charlie Driscoll's questions to Southern Missouri Bancorp Inc (SMBC) leadership

    Charlie Driscoll's questions to Southern Missouri Bancorp Inc (SMBC) leadership • Q4 2025

    Question

    Charlie Driscoll, on for Kelly Moffer, asked about the bank's funding strategy for near-term growth, specifics on maturing CD rates, the M&A environment, and the company's perspective on share buybacks.

    Answer

    President and CAO Matt Funke stated that future growth would be less reliant on CDs due to the bank's strong current funding position. EVP & CFO Stefan Chkautovich specified that CDs maturing over the next year have an average rate of 4.24% and are being replaced at approximately 4.0%. He also noted that while M&A discussions are increasing, the company currently views a potential transaction as having a shorter earn-back period than share repurchases.

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    Charlie Driscoll's questions to National Bank Holdings Corp (NBHC) leadership

    Charlie Driscoll's questions to National Bank Holdings Corp (NBHC) leadership • Q2 2025

    Question

    Charlie Driscoll from Keefe, Bruyette & Woods inquired about the recent launch of the 2Unify platform, its market reception, and the nature of its partnership with NAV. He also sought to clarify if 2Unify is primarily a fee-income generator or a balance sheet play and asked about the current M&A environment.

    Answer

    Chairman & CEO Timothy Laney described the 2Unify launch as a successful 'soft opening,' emphasizing positive user feedback and robust security. He detailed a long-term vision for 2Unify to become an information-focused company with a membership-fee model, rather than a balance-sheet-intensive business. On M&A, Mr. Laney reiterated the company's consistent criteria focused on culture, growth markets, and strong earnings accretion, but declined to comment on specific current discussions.

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    Charlie Driscoll's questions to National Bank Holdings Corp (NBHC) leadership • Q4 2024

    Question

    Charlie Driscoll from Keefe, Bruyette & Woods asked about the competitive landscape for deposit funding and betas heading into 2025, the anticipated expense impact from crossing the $10 billion asset threshold (Durbin Amendment), and the role of M&A in the bank's capital strategy.

    Answer

    President Aldis Birkans noted the bank's ability to manage Cambr deposits and achieve core deposit growth. CEO Tim Laney added that the bank has delayed a roughly $5 million annual Durbin impact but plans to grow past the $10 billion threshold in 2025, absorbing the cost with organic growth. Mr. Laney also clarified that while the bank is prepared for the regulatory crossover and open to M&A, a potential deal would be driven by strategic fit, not just diluting the Durbin impact.

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