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    David Chiaverini • Wedbush Securities Inc.

    David Chiaverini's questions to Wintrust Financial Corp (WTFC) leadership

    David Chiaverini's questions to Wintrust Financial Corp (WTFC) leadership • Q2 2025

    Question

    David Chiaverini of Jefferies followed up on borrower sentiment specifically within the core C&I and CRE portfolios and asked if more clients were moving off the sidelines to pursue projects.

    Answer

    Vice Chairman & Chief Lending Officer Richard Murphy described sentiment as 'cautiously optimistic,' noting that while there isn't a surge of 'animal spirits,' clients feel better than last quarter. He emphasized that Wintrust's strong market positioning in Chicago is a key growth driver, allowing it to win new business regardless of the broader economic sentiment.

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    David Chiaverini's questions to Customers Bancorp Inc (CUBI) leadership

    David Chiaverini's questions to Customers Bancorp Inc (CUBI) leadership • Q3 2024

    Question

    David Chiaverini of Wedbush followed up on the written agreement, asking about any material limitations it imposes on the business and the expected timeframe for its resolution. He also asked for measurable bogeys to track progress.

    Answer

    CEO Samvir Sidhu stated that the agreement is public and contains no material limitations outside of the digital asset strategy, only typical notifications. He estimated that while most of the work would be completed within the first year, such orders typically remain in place for about two years. Progress, he noted, is measured by improvements in people (key hires), processes (enhanced via outside services), and technology (a new proprietary platform).

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    David Chiaverini's questions to HomeStreet Inc (HMST) leadership

    David Chiaverini's questions to HomeStreet Inc (HMST) leadership • Q3 2024

    Question

    Brooks Dutton, on behalf of David Chiaverini of Wedbush Securities, asked about the potential losses that could be expected on the proposed $800 million multifamily loan sale and how that might compare to the previously contemplated $300 million sale.

    Answer

    Executive Mark K. Mason explained that the $800 million sale would involve longer-duration loans, resulting in a somewhat lower price compared to the other potential sale. CFO John Michel provided a valuation range of 91% to 95% of par value based on September 30 rates, noting the price would be adjusted based on yields at the time of sale. Mason added that since the total portfolio's fair value is roughly 93%, this lower-value subset would be priced slightly below that level.

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    David Chiaverini's questions to LendingClub Corp (LC) leadership

    David Chiaverini's questions to LendingClub Corp (LC) leadership • Q3 2024

    Question

    David Chiaverini asked about the outlook for balance sheet growth following the $1.3 billion loan acquisition, the demand from credit buyers, and the overall growth and competitive dynamics of the consumer loan market.

    Answer

    CFO Drew LaBenne stated that while the balance sheet may see a slight decline in the next quarter, it is expected to resume growth in 2025. He noted that credit buyer demand is healthy, with banks returning and private credit asset managers remaining active. CEO Scott Sanborn added that the personal loan market is expected to grow as fintech capital availability improves, and while competition is always present, LendingClub monitors it closely.

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    David Chiaverini's questions to Banc of California Inc (BANC) leadership

    David Chiaverini's questions to Banc of California Inc (BANC) leadership • Q2 2024

    Question

    David Chiaverini of Wedbush Securities Inc. inquired if further balance sheet optimization could involve additional loan portfolio sales and asked about other potential expense savings beyond the normalization of FDIC costs.

    Answer

    CEO Jared Wolff stated that additional loan portfolio sales are unlikely as the focus shifts to growing earning assets, making securities restructuring a more probable action. CFO Joe Kauder and Wolff emphasized that while FDIC cost normalization is a factor, significant work remains to hit the Q4 expense target. They pointed to ongoing optimization of operations, systems, and vendor spend as key drivers of future savings.

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