Research Analyst at Hovde Capital Advisors LLC
Kyle Gierman is an Equity Research Analyst at Hovde Group, specializing in coverage of regional and community banks. He regularly covers firms such as United Community Banks, providing detailed earnings analysis and forecasts. Since joining Hovde Group, Gierman has established a reputation for insightful financial assessments, although specific rankings or quantified performance metrics are not publicly available. His professional background includes equity research with demonstrated expertise in bank capital management and fee income projections, supported by industry-standard securities credentials.
Kyle Gierman asked for an update on Fulton Financial's current exposure levels to Non-Bank Financial Institutions (NDFIs) and the company's perspective on this sector.
Curt Myers, CEO and Chairman, stated that the company has very low, de minimis levels of NDFI exposure. He clarified that the primary component within their NDFI disclosures consists of loans to community bank holding companies structured as non-rated debt issuances.
Kyle Gierman asked for an update on the company's current exposure levels to Non-Depository Financial Institutions (NDFIs) and their perspective on this sector, given recent scrutiny.
Curt Myers, CEO and Chairman, stated that the company has very low, de minimis levels of NDFI exposure. He clarified that the primary component within their NDFI disclosures consists of loans to non-rated community bank holding companies, structured as tier two sub-debt notes.
Kyle Gierman asked for more color on United Community Banks' core fee income and expectations for the next quarter.
EVP and CFO Jefferson Harralson explained that after excluding non-recurring items like a $1.5 million bulk gain, an $800,000 MSR write-up, and volatile unrealized equity gains, the remaining fee income represents a good core run rate for the bank.
Kyle Gierman asked for more color on the core fee income and expectations for the next quarter.
Jefferson Harralson, EVP and CFO, advised that to determine a good fee income run rate, one should exclude the $1.5 million bulk gain, the $800,000 MSR write-up, and the volatile unrealized equity gains mentioned on the fee page.
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