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    Matt Olney

    Research Analyst at Stephens Inc.

    Matt Olney is Managing Director and Senior Equity Analyst at Stephens Inc., specializing in regional banks with a focus on the Southwest U.S. He covers specific companies such as Zions Bancorp (ZION), Huntington Bancshares (HBAN), Fifth Third Bancorp (FITB), KeyCorp (KEY), Comerica (CMA), and Regions Financial (RF), among others, and consistently achieves top-tier performance, including a 73% success rate and average returns of 14% on analyst platforms like TipRanks. Olney began his career at Wells Fargo and UBS in Houston before joining Stephens in 2004, earning his CFA designation in 2007 and receiving recognition as a Top Earnings Estimator by StarMine in 2010. He holds a B.B.A. in finance and management information systems from the University of Oklahoma and maintains his CFA credential, with additional securities licenses verified via FINRA.

    Matt Olney's questions to CULLEN/FROST BANKERS (CFR) leadership

    Matt Olney's questions to CULLEN/FROST BANKERS (CFR) leadership • Q2 2025

    Question

    Matt Olney from Stephens Inc. asked about the expected deposit beta for future Fed rate cuts and requested more detail on the drivers behind the upward revision to the non-interest income guidance.

    Answer

    CFO Dan Geddes confirmed they expect deposit betas to be similar on the way down as rates fall. Regarding the improved non-interest income outlook, he pointed to several factors: a healthier stock market benefiting trust fees, volume-driven growth in interchange and service charges from new customer acquisition, and the delay of a previously anticipated negative regulatory impact on interchange fees.

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    Matt Olney's questions to CULLEN/FROST BANKERS (CFR) leadership • Q2 2025

    Question

    Matt Olney from Stephens Inc. asked about the deposit beta assumptions for the remaining Fed cuts included in the guidance and requested more specifics on the drivers behind the improved outlook for non-interest income.

    Answer

    CFO Dan Geddes confirmed that the guidance assumes similar deposit betas on future rate cuts. For the upwardly revised non-interest income guidance, he cited several factors: a healthier stock market benefiting trust fees, strong customer growth driving volume-related fees like interchange, and the removal of a previously anticipated negative regulatory impact on interchange fees for 2025.

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    Matt Olney's questions to FIRSTSUN CAPITAL BANCORP (FSUN) leadership

    Matt Olney's questions to FIRSTSUN CAPITAL BANCORP (FSUN) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. sought clarification on the 'market price deterioration' impacting charge-off guidance and asked if there were any unusual items within the strong mortgage banking income.

    Answer

    Chief Credit Officer Jennifer Norris explained that the 'market price deterioration' comment referred to a specific C&I credit in the telecom sector where the final asset valuation upon workout was lower than initially estimated. CFO Robert Cafera confirmed that the strong mortgage banking revenue was driven entirely by organic gain-on-sale activity from originations, with no MSR sales or other unusual items contributing to the result.

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    Matt Olney's questions to FIRSTSUN CAPITAL BANCORP (FSUN) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. sought clarification on the 'market price deterioration' that influenced charge-off guidance and asked if there were any unusual items, such as MSR sales, contributing to the strong mortgage banking income.

    Answer

    EVP & Chief Credit Officer Jennifer Norris clarified that the 'market price deterioration' comment referred to a lower-than-expected final valuation on a specific workout credit within the telecom industry. CFO Robert Cafera confirmed that the strong mortgage results were driven purely by organic gain-on-sale origination activity, with no MSR sales or other unusual items during the quarter.

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    Matt Olney's questions to FIRSTSUN CAPITAL BANCORP (FSUN) leadership • Q1 2025

    Question

    Matt Olney asked if the company considered a recent distressed bank deal in Texas, sought more color on the lowered NII guidance, and asked for details on the new large nonaccrual loan.

    Answer

    CEO Neal Arnold confirmed they reviewed the Texas deal but passed due to the significant risk from the asset mark-to-market. CFO Robert Cafera attributed the lower NII guidance primarily to lower-than-expected average balances in Q1 from back-end loaded loan growth. He also described the new nonaccrual as a $13 million manufacturing credit with a cross-border component.

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    Matt Olney's questions to Business First Bancshares (BFST) leadership

    Matt Olney's questions to Business First Bancshares (BFST) leadership • Q2 2025

    Question

    Matt Olney from Stephens Inc. questioned the slowdown in loan yield momentum, the persistence of elevated FHLB borrowings, and sought feedback on the recent core system conversion, including its expected benefits.

    Answer

    EVP & CFO Gregory Robertson attributed the loan yield softness to competition, noting pricing is holding in the mid-to-low sevens. SVP Matthew Sealy added that lower deferred loan fees also contributed. Robertson explained that FHLB borrowings are a strategic tool for managing funding, particularly in repositioning higher-cost deposits from the Oakwood acquisition, and may fluctuate. CEO Jude Melville stated it is too early for broad feedback on the new core system but reiterated its strategic importance for future organic and M&A efficiency, rather than immediate cost savings.

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    Matt Olney's questions to Business First Bancshares (BFST) leadership • Q1 2025

    Question

    Matt Olney inquired about the outlook for loan growth for the remainder of the year, the potential trajectory for the core net interest margin, and the sustainability of the strong Q1 fee income performance.

    Answer

    CFO Gregory Robertson projected low to mid-single-digit quarterly loan growth, which would result in low single-digit growth for the full year due to a flat Q1. He anticipates continued, but more modest, core margin expansion in the low single-digit basis point range quarterly. Robertson also guided toward a more normalized quarterly fee income run rate of $11.5 million to $12 million, as Q1 benefited from strong, but less predictable, SBIC and SBA income. CEO Jude Melville added that the bank has fundamentally improved its capabilities in SBA and swap income, establishing a new, higher baseline for performance.

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    Matt Olney's questions to Business First Bancshares (BFST) leadership • Q4 2024

    Question

    Matt Olney inquired about the outlook for Business First's net interest margin (NIM) in 2025, the competitive landscape for loan pricing and yields, and the expected drivers for fee income growth.

    Answer

    CFO Gregory Robertson projected continued "low to mid-single-digit margin expansion" in 2025, contingent on organic deposit growth. He and CEO David Melville affirmed a commitment to pricing discipline, leveraging new technology to price entire relationships, even amid potential competition. For noninterest income, Robertson guided to a $40-$50 million target for 2025, using Q4's $11.8 million as a good run rate. Melville added that a diversified infrastructure of products like SBA and swaps should provide multiple avenues for growth.

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    Matt Olney's questions to Business First Bancshares (BFST) leadership • Q3 2024

    Question

    Matt Olney asked for commentary on the loan growth rate, which was slower than recent trends, inquiring specifically about C&I borrower sentiment and line utilization. He also sought confirmation on the sustainability of fee income after a strong quarter driven by swap fees.

    Answer

    CFO Gregory Robertson explained that the 4.4% annualized loan growth was intentionally aligned with capital growth and profitability goals, noting the bank also sold $30 million in loans. Other executives added that customer line utilization was normal for the time of year. Regarding fees, Robertson affirmed that the Q3 level is a good run rate for future growth, though it will be lumpy. CEO David Melville added that the company has intentionally diversified its noninterest income streams, with SBA income expected to be a strong contributor in Q4, ensuring aggregate growth even if individual components fluctuate.

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    Matt Olney's questions to Stellar Bancorp (STEL) leadership

    Matt Olney's questions to Stellar Bancorp (STEL) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. sought details on the mix of recent loan originations, the expense outlook for the remainder of 2025, the feasibility of reaching a 4% core margin, the potential for redeeming debt, and the current pace of M&A discussions.

    Answer

    Executive Chairman & CEO Robert Franklin described a broad-based origination mix, including C&I and CRE, and noted that M&A conversations have increased, though the bank remains disciplined on pricing. Senior EVP & CFO Paul Egge affirmed the goal is to keep expenses flat, absent opportunistic investments, and reiterated the intention to 'scratch and claw back up to a four handle on margin,' adding that potential rate cuts would be a net benefit. Egge also stated that redeeming debt is being evaluated alongside other capital deployment options.

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    Matt Olney's questions to Stellar Bancorp (STEL) leadership • Q1 2025

    Question

    Matt Olney asked for an update on capital allocation strategy, focusing on the pace of share buybacks and the potential for redeeming subordinated debt. He also explored whether other capital deployment options, such as security or loan portfolio purchases, were being considered. Shifting topics, he inquired about the drivers behind the improvement in interest-bearing deposit costs and the future outlook for the core net interest margin (NIM).

    Answer

    CEO Bob Franklin reiterated that the bank continues to build capital and is evaluating the best use, including potentially retiring some sub-debt later in the year, continuing share buybacks, and remaining open to M&A, particularly with private banks. He emphasized a focus on core banking rather than ad-hoc strategies like portfolio purchases. CFO Paul Egge added that while the bank has used both buybacks and dividend increases, the significant Q1 improvement in deposit costs is not likely to be repeated at the same pace. He stated the goal is to push the core NIM, currently at 3.97%, back above 4%, but noted future gains will be incremental.

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    Matt Olney's questions to Stellar Bancorp (STEL) leadership • Q4 2024

    Question

    Matt Olney asked for clarification on the 2025 loan growth outlook, expectations for deposit growth after a flat 2024, and the revenue growth assumptions needed to achieve the stated goal of positive operating leverage.

    Answer

    CEO Robert Franklin confirmed that a mid-single-digit loan growth target for 2025 remains reasonable, despite some expected payoffs early in the year. President Ramon Vitulli highlighted strong Q4 loan origination momentum and positive leading indicators for deposit growth, noting 58% of new accounts were from new customers. CFO Paul Egge affirmed that achieving positive operating leverage implies revenue growth will meet or exceed the guided ~3% expense growth.

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    Matt Olney's questions to Stellar Bancorp (STEL) leadership • Q3 2024

    Question

    Matt Olney of Stephens asked for an update on the loan growth outlook for 2025, the drivers of noninterest expense running above target, the strategy for the growing securities portfolio, and the specifics behind recent credit quality changes.

    Answer

    CEO Robert Franklin stated that mid-single-digit loan growth is the goal for 2025, market conditions permitting. CFO Paul Egge addressed expenses, noting they are running about $1 million above the $70 million quarterly target due to seasonality but they aim to hold the line. Egge also detailed that the securities portfolio provides liquidity and has an effective duration of 3.5 years. Franklin confirmed that favorable resolutions on previously identified problem credits drove the improvement in nonperforming loans during the quarter.

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    Matt Olney's questions to SOUTHSIDE BANCSHARES (SBSI) leadership

    Matt Olney's questions to SOUTHSIDE BANCSHARES (SBSI) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. asked for an outlook on the net interest margin for the second half of the year, its dependency on loan growth, and the current competitive environment for deposit pricing in Texas.

    Answer

    CEO Lee Gibson stated that the net interest margin has tailwinds due to late-quarter loan growth and favorable repricing of maturing CDs. He noted that over $430 million in CDs are maturing in the next 90 days and are expected to be repriced at least 10 basis points lower. Gibson indicated they are not seeing significant new pressure on deposit pricing and that any net loan growth would be an additional benefit to the margin.

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    Matt Olney's questions to SOUTHSIDE BANCSHARES (SBSI) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. asked for an outlook on the net interest margin (NIM) for the second half of the year, questioning its dependency on potentially volatile loan growth. He also probed into the competitive landscape for deposits in Texas and whether Southside is experiencing the same pricing pressures reported by its peers.

    Answer

    CEO Lee Gibson stated that the NIM has tailwinds independent of loan growth, noting that significant loan growth occurred late in Q2, which should benefit Q3's average balances. He anticipates further NIM expansion if net loan growth continues. Regarding deposits, Gibson explained that Southside is not seeing intense pricing pressure. He highlighted that over $430 million in CDs are maturing in the next 90 days, and the bank expects to reprice them at rates at least 10 basis points lower, providing continued relief on funding costs.

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    Matt Olney's questions to SOUTHSIDE BANCSHARES (SBSI) leadership • Q1 2025

    Question

    Matt Olney of Stephens inquired about capital management, specifically how the bank weighs stock repurchases against its callable subordinated debt. He also sought clarity on loan growth, asking if Q1 paydowns were a timing issue and why the full-year guidance was maintained despite some surprise paydowns.

    Answer

    An executive, likely CLO Keith Dongey, explained they are balancing both capital actions, aiming to pay down at least half of the $92 million in callable sub debt while considering buybacks. He clarified that Q1 loan paydowns were a mix of expected and unexpected events, with some payoffs occurring earlier than forecast. The mid-single-digit growth guidance is maintained because the loan pipeline has significantly increased, from ~$1.3 billion to $1.9 billion, giving them confidence in positive growth for Q2 and beyond.

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    Matt Olney's questions to SOUTHSIDE BANCSHARES (SBSI) leadership • Q3 2024

    Question

    Matt Olney asked for commentary on the M&A environment in Texas, Southside Bancshares' specific acquisition target profile, and the expense outlook for 2025, considering the ongoing C&I initiative and other factors.

    Answer

    CEO Lee Gibson observed that M&A chatter has increased and he expects more activity in Texas in 2025. He reiterated Southside's target profile as banks either under $1.2 billion or over $3 billion, primarily along the I-35 corridor. CFO Julie Shamburger projected that quarterly noninterest expense would be around $37 million or slightly higher in 2025, driven by salary increases, the C&I initiative, and higher software costs.

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    Matt Olney's questions to Origin Bancorp (OBK) leadership

    Matt Olney's questions to Origin Bancorp (OBK) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. inquired about the projected ramp-up of the net interest margin (NIM) to its 3.7% fourth-quarter target and the key drivers for this expansion. He also asked for details on the significant loan paydowns seen late in the quarter and the long-term outlook for loan growth.

    Answer

    CFO Wally Wallace detailed the NIM forecast, attributing the expansion to tailwinds from loan repricing, which offset modeled Fed rate cuts. He noted competitive pricing pressures could influence the outcome within the guided range. President and CEO of Origin Bank, Lance Hall, explained that loan growth was impacted by client uncertainty and decisions to use cash for projects, reducing line utilization. Chairman, President & CEO Drake Mills added that line utilization dropped from 53% to 50%, representing an $83 million reduction. For the long term, Lance Hall expressed optimism, citing a strategy focused on hiring talented bankers and capitalizing on market disruption, while maintaining pricing discipline.

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    Matt Olney's questions to Origin Bancorp (OBK) leadership • Q1 2025

    Question

    Matt Olney of Stephens Inc. inquired about Origin's loan growth outlook, the progress of its client selection process, the financial impact of the 'Optimize Origin' initiative, and trends in deposit costs and market competition.

    Answer

    President and CEO of Origin Bank, Lance Hall, confirmed building pipelines and energized bankers provide confidence in loan growth despite macro uncertainty. Chief Risk Officer Jim Crotwell noted the client selection process is in the 'seventh inning stretch' after exiting approximately $200 million in relationships. CFO Wally Wallace explained that a significant portion of the incremental 'Optimize Origin' savings are expected to benefit the bottom line, as reflected in improved expense guidance. Lance Hall also addressed deposit competition, noting some aggressive CD specials from competitors, while Wally Wallace discussed deposit beta assumptions in their rate cut models.

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    Matt Olney's questions to Origin Bancorp (OBK) leadership • Q4 2024

    Question

    Matt Olney asked for details on the drivers behind the projected mid- to high-single-digit loan growth for 2025, the timing and components of the $21 million "Optimize Origin" plan, and the sensitivity of the net interest income (NII) outlook to Fed rate cuts and the yield curve.

    Answer

    Chairman, President and CEO, Drake Mills, explained that 2024's slow growth was a deliberate strategy to stay under the $10 billion asset threshold, which involved exiting $149 million in non-strategic loans. President and CEO of Origin Bank, Lance Hall, added that this positions the bank with ample liquidity to "take the shackles off" bankers in 2025. CFO Wally Wallace detailed the timing of the optimization benefits, noting some will phase in during Q1 and Q2 2025, and confirmed the bank remains asset-sensitive, meaning fewer rate cuts would be beneficial to the NII outlook.

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    Matt Olney's questions to Origin Bancorp (OBK) leadership • Q3 2024

    Question

    Matt Olney asked about the drivers behind higher-than-expected deposit costs in Q3 and the implications for deposit betas in a falling rate environment. He also sought clarity on the net interest margin (NIM) outlook and the specific metrics, such as ROA or efficiency ratio, being targeted in the company's new profitability initiative.

    Answer

    Chief Financial Officer Wally Wallace explained that strong, unexpected growth in interest-bearing deposits pressured costs, but noted that deposit betas are performing better than modeled. He clarified that the NIM requires a measured pace of Fed cuts to expand, as large cuts create immediate pressure. Chairman, President and CEO Drake Mills added that the profitability initiative targets a peer-like ROA of around 1.05-1.06% by focusing on broad revenue and expense opportunities, with a goal of accelerating to upper-quartile performance once growth resumes.

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    Matt Olney's questions to SOUTHERN MISSOURI BANCORP (SMBC) leadership

    Matt Olney's questions to SOUTHERN MISSOURI BANCORP (SMBC) leadership • Q4 2025

    Question

    Matt Olney of Stephens Inc. inquired about the momentum of loan growth during the quarter, the drivers behind expected higher prepayments, and the near-term outlook for the net interest margin, including the potential impact of Fed rate cuts. He also sought details on a specific CRE charge-off, questioning the cause of the collateral's value deterioration and the status of other related appraisals.

    Answer

    Greg Steffens, Chairman, confirmed that loan growth was steady and that expected prepayments in non-owner-occupied CRE have been indicated by borrowers but have not yet occurred. Regarding the charge-off, he explained it resulted from a special-purpose property losing its tenant, leading to a valuation based on much lower market rents, and noted a 42% specific reserve is held against the remaining balance. Stefan Chkautovich, EVP & CFO, added that the bank is currently neutral to rate movements but expects natural NIM expansion from loan repricing. Matt Funke, President and Chief Administrative Officer, commented that deposit competition remains reasonable despite a recent minor uptick.

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    Matt Olney's questions to SOUTHERN MISSOURI BANCORP (SMBC) leadership • Q4 2025

    Question

    Matt Olney inquired about the momentum of loan growth, the drivers behind anticipated prepayments, the near-term outlook for the net interest margin, and the specifics of a significant CRE charge-off.

    Answer

    Chairman and CEO Greg Steffens confirmed that loan growth was steady throughout the quarter and noted that expected prepayments are concentrated in larger non-owner-occupied commercial real estate credits. EVP & CFO Stefan Chkautovich added that while the bank is currently neutral to rate movements, he anticipates margin expansion from loan repricing. Regarding the CRE charge-off, Mr. Steffens explained it was due to a special-purpose tenant vacating, leading to lower market rents, and confirmed a 42% specific reserve is held against the remaining loan balance.

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    Matt Olney's questions to SOUTHERN MISSOURI BANCORP (SMBC) leadership • Q2 2025

    Question

    Matt Olney inquired about the competitive landscape for deposits across Southern Missouri Bancorp's rural and metro markets, the strategy behind purchasing securities during the quarter, and the outlook for noninterest expenses.

    Answer

    An executive noted that deposit competition is a mixed bag and not distinctly different between rural and metro markets, though some competitors with high loan-to-deposit ratios are driving pricing. CEO Greg Steffens added that this is not a consistent rural versus metro trend. CFO Stefan Chkautovich explained the opportunistic purchase of approximately $50 million in CMOs and mortgage-backed securities, funded with brokered CDs, to capitalize on higher market rates. President and CAO Matthew Funke addressed expenses, noting seasonal compensation adjustments in the March quarter but no other significant changes expected.

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    Matt Olney's questions to SOUTHERN MISSOURI BANCORP (SMBC) leadership • Q1 2025

    Question

    Matt Olney inquired about the competitive landscape for both deposit and loan pricing, sought clarification on the net interest income (NII) and margin guidance, and asked for details on the scope and financial goals of the bank's new performance improvement project.

    Answer

    CFO Stefan Chkautovich noted that deposit rate competition eased following the FOMC cuts, making their pricing more competitive. President and CAO Matthew Funke added that on the loan side, the market is moving back towards their pricing, and strong demand reduces the need to be more aggressive. Mr. Funke confirmed expectations for continued NII growth, with the net interest margin potentially flat in the December quarter due to seasonality before improving. He described the performance project as a comprehensive operational review aiming to pay for itself within a year, with potential long-term savings in the low single-digits of noninterest expense.

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    Matt Olney's questions to SOUTHERN MISSOURI BANCORP (SMBC) leadership • Q4 2024

    Question

    Matt Olney inquired about Southern Missouri Bancorp's CD pricing dynamics, seeking details on maturing volumes and renewal rates. He also asked for a forecast on near-term expense growth and questioned if the strong credit trends could lead to a lower allowance ratio in the future.

    Answer

    President and Chief Administrative Officer Matthew Funke and CFO Stefan Chkautovich explained that approximately $1 billion in CDs are repricing over the next 12 months at an average rate of 4.79%, while 12.5% of the fixed-rate loan book is renewing at higher rates around 8.15-8.17%. They projected expense growth to be in the mid-single digits, in line with the bank's overall growth. Regarding the credit allowance, Funke noted their conservative stance and expressed hope to avoid provisioning increases but did not commit to reducing the ratio.

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    Matt Olney's questions to RENASANT (RNST) leadership

    Matt Olney's questions to RENASANT (RNST) leadership • Q2 2025

    Question

    Matt Olney from Stephens Inc. asked for an update on core expense levels and the timeline for realizing cost savings from the merger, and also questioned if long-term profitability targets for ROA and efficiency ratio remain intact.

    Answer

    Executive VP & CFO James Mabry stated that merger-related cost efficiencies were not reflected in Q2 but will begin to appear in Q3 and ramp up in Q4, with the full run-rate expected by Q1 2026. President & CEO Kevin Chapman confirmed that the company is tracking in line with its long-term strategic goals for ROA and efficiency ratio, noting the efficiency ratio is already below 60% before most cost savings have been realized.

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    Matt Olney's questions to RENASANT (RNST) leadership • Q1 2025

    Question

    Matt Olney of Stephens Inc. sought clarification on how a lower-than-expected loan mark could impact closing capital ratios, the bank's appetite for calling or refinancing its callable subordinated debt, and the current competitive landscape for deposits and loans.

    Answer

    Executive James Mabry confirmed that a lower loan mark would result in higher capital, projecting the CET1 ratio to be slightly above 11% at closing, with slightly lower EPS accretion and tangible book value dilution. He added that calling sub-debt is an option being considered, supported by a strong cash position at the parent company. Regarding competition, Mabry noted that funding pricing has been better than anticipated, with more competitive pressure on the asset side.

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    Matt Olney's questions to RENASANT (RNST) leadership • Q4 2024

    Question

    Matt Olney requested details on the volume of variable and fixed-rate loans scheduled to reprice in the upcoming year and asked for color on the quarterly increase in classified loans.

    Answer

    James Mabry detailed that the ~$6 billion variable-rate book reprices quickly, while ~$700 million in fixed-rate loans at a blended rate of ~5.5% will reprice over the next 12 months. David Meredith clarified that the uptick in classified loans was not due to new problem assets but rather a migration of existing special mention loans to a substandard classification as part of ongoing portfolio management.

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    Matt Olney's questions to RENASANT (RNST) leadership • Q3 2024

    Question

    Matt Olney requested more detail on the fixed-asset repricing dynamics, including the dollar amount of loans repricing and their yields. He also asked for additional color on the downgrade of 'a few larger loans' mentioned in the prepared remarks, specifically regarding industry concentrations or common themes.

    Answer

    EVP and CFO James Mabry provided specifics on asset repricing, noting roughly $5.5 billion in variable-rate loans and $750 million in fixed-rate loans are set to reprice over the next year. He reiterated expectations for 'modest' NIM compression in Q4. EVP and Chief Credit Officer David Meredith clarified that the loan downgrades were primarily concentrated in the senior housing sector (three loans) and one non-medical office loan, describing the stress as isolated to these asset classes.

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    Matt Olney's questions to BOK FINANCIAL (BOKF) leadership

    Matt Olney's questions to BOK FINANCIAL (BOKF) leadership • Q2 2025

    Question

    Matt Olney sought to reconcile comments about new loan growth being accretive to NIM while C&I spreads are facing pressure. He also asked for color on the volatility and outlook for the trading securities portfolio.

    Answer

    EVP & CFO Martin Grunst clarified that loan growth boosts NII dollars and can improve margin by shifting the asset mix from lower-yielding securities, with new loans expected at spreads similar to the existing book. Grunst, along with EVP Scott Grauer and CEO Stacy Kymes, explained the trading portfolio balance fluctuates based on tactical market opportunities and risk management, with balances rising as market uncertainty eased, all while remaining within internal risk limits.

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    Matt Olney's questions to BOK FINANCIAL (BOKF) leadership • Q1 2025

    Question

    Matt Olney sought clarification on whether lower commodity prices would spur new energy hedging activity. He also asked if the full-year guidance assumes the Q1 trading interest revenue spread of 98 basis points would be maintained or improve with potential Fed cuts.

    Answer

    CEO Stacy Kymes agreed that lower commodity prices would likely lead to less hedging activity in the near term, as customers are opportunistic. CFO Martin Grunst confirmed that the company's full-year guidance assumes the trading spread will improve from Q1 levels as rate cuts materialize later in the year.

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    Matt Olney's questions to BOK FINANCIAL (BOKF) leadership • Q4 2024

    Question

    Matt Olney of Stephens Inc. questioned the company's low double-digit growth guidance for 2025 net interest income (NII), asking for a Q1 starting point and the underlying assumptions about the yield curve's shape.

    Answer

    CFO Martin Grunst detailed that while core NII will benefit from asset repricing, the main driver is the trading portfolio. He projected the spread on the trading portfolio could expand from 36 bps to over 100 bps as funding costs fall with anticipated Fed cuts, significantly boosting trading NII. He clarified the guidance assumes two Fed cuts with long-term rates remaining stable, leading to a steeper curve. EVP Scott Grauer added that client demand to invest further out on the curve has increased, supporting this outlook.

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    Matt Olney's questions to BOK FINANCIAL (BOKF) leadership • Q3 2024

    Question

    Matt Olney from Stephens asked for details on the investment securities portfolio, including cash flows, recent purchase activity, and plans for its overall size. He also questioned whether the lower end-of-quarter borrowings level was a sustainable run rate for Q4.

    Answer

    CFO Marty Grunst detailed that the securities portfolio had ~$760 million in cash flow in Q3, repricing up 115 bps, and guided for a ~$650 million quarterly run rate going forward. Purchases continue to be in shorter-duration mortgage securities. Regarding borrowings, Grunst explained the quarter-end decline was driven by durable deposit growth and typical MBS settlement cycles, suggesting the lower level is a reasonable starting point for Q4, though subject to future loan growth.

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    Matt Olney's questions to Bank OZK (OZK) leadership

    Matt Olney's questions to Bank OZK (OZK) leadership • Q2 2025

    Question

    Matt Olney asked for a preliminary framework for Bank OZK's loan growth outlook for 2026, questioning if the pace from the latter half of 2025 would be a reasonable baseline.

    Answer

    President of CIB Jake Munn stated that he expects CIB's growth to accelerate into 2026. President Brannon Hamblen noted RESG faces headwinds from prepayments. Chairman & CEO George Gleason framed this within the bank's 'growth, growth and diversification' strategy, where CIB and other units are expected to grow faster than RESG, thereby continuing to diversify the loan portfolio.

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    Matt Olney's questions to Bank OZK (OZK) leadership • Q4 2024

    Question

    Matt Olney posed a long-term, big-picture question about Banco OZK's loan growth aspirations beyond 2025 and the associated investment spending required. He also asked for the bank's perspective on potential regulatory changes under the new presidential administration.

    Answer

    Chairman and CEO George Gleason stated that significant foundational expenses for growth initiatives like CIB are already in the run rate, which should allow the bank to maintain an industry-leading efficiency ratio as revenues scale. President of CIB Jake Munn added that their growth is pragmatic, ensuring new business is generated before adding headcount. Regarding regulation, Gleason expressed hope for a more constructive and 'rightsized' regulatory environment that would reduce unnecessary burdens and allow the banking industry to better support U.S. economic growth.

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    Matt Olney's questions to Bank OZK (OZK) leadership • Q3 2024

    Question

    Matt Olney asked for details on the Chicago land loan that drove higher charge-offs and for a comparison of loan pricing between the Real Estate Specialties Group (RESG) and the Corporate & Institutional Banking (CIB) division.

    Answer

    CEO George Gleason explained the Chicago loan was charged down due to the slow pace of resolution by the sponsor, despite their continued engagement. He framed the quarter's overall asset quality as positive, citing progress on other key assets. Regarding pricing, Gleason noted that while RESG spreads are typically higher, CIB loans offer significant fee and deposit opportunities, resulting in a comparable return on equity when viewed holistically.

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    Matt Olney's questions to HOME BANCSHARES (HOMB) leadership

    Matt Olney's questions to HOME BANCSHARES (HOMB) leadership • Q2 2025

    Question

    Matt Olney asked about the competitive environment for deposit pricing within the bank's footprint and sought management's current perspective on the stock buyback program, particularly at current valuation levels.

    Answer

    CEO of Centennial Bank, Stephen Tipton, described the deposit pricing environment as stable compared to Q1, noting the bank is competing effectively. Chairman & CEO John Allison indicated that while a special dividend has been considered, the company's capital deployment strategy, including buybacks, will depend on potential M&A activity in the near term. He noted the company has significant cash at the holding company but will be paying off subordinated debt soon.

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    Matt Olney's questions to HOME BANCSHARES (HOMB) leadership • Q1 2025

    Question

    Matt Olney followed up on the M&A discussion, asking if the potential for faster regulatory approvals changes the company's strategy, such as considering multiple smaller deals. He also asked for specifics on how small of a deal the bank would consider.

    Answer

    Executive John Allison responded that faster approvals are exciting and that he would not be adverse to pursuing a couple of smaller deals simultaneously. He explained that the bank is ready for new assets to enhance its high-performing platform. Regarding size, Allison stated that while deals below $300 million are generally too small, an exception could be made for a strategic in-market acquisition in a key geography like Florida, with the ultimate decision depending on the potential accretion to EPS.

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    Matt Olney's questions to HOME BANCSHARES (HOMB) leadership • Q4 2024

    Question

    Matt Olney of Stephens Inc. sought more detail on the quarter-end balances for criticized and classified loans compared to the prior quarter. He also inquired about the competitive landscape for deposit pricing across the bank's different state markets.

    Answer

    Chief Lending Officer Kevin Hester reported that criticized loans were flat quarter-over-quarter, while classified loans decreased by approximately $22 million. CEO Stephen Tipton noted that deposit competition is intense across all markets, but Home Bancshares has been successful in renewing CDs at rates below maturing tranches, helping to manage funding costs.

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    Matt Olney's questions to HOME BANCSHARES (HOMB) leadership • Q3 2024

    Question

    Matt Olney asked for more detail on the drivers behind the strong operating expense control and questioned whether any new credit problems were emerging beyond the previously discussed legacy issues in Texas.

    Answer

    CEO Stephen Tipton credited disciplined headcount management for the cost control and noted potential future savings from renegotiating large IT contracts in 2025. On credit, Chief Lending Officer Kevin Hester and Chairman John Allison confirmed that the focus remains on the same legacy Texas credits, with no significant new problem inflows. They expect resolution on some of these within the next one to two quarters.

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    Matt Olney's questions to Triumph Financial (TFIN) leadership

    Matt Olney's questions to Triumph Financial (TFIN) leadership • Q2 2025

    Question

    In a follow-up, Matt Olney of Stephens Inc. asked for clarity on the drivers of the average factoring invoice size, the growth potential for supply chain financing, and the composition of the strong noninterest-bearing deposit growth.

    Answer

    Kim Fisk, President of Triumph Factoring, and Aaron Graft, CEO, explained that the factoring invoice size is influenced by customer mix and that the payments segment is a better market indicator. Todd Ritterbusch, President of Payments & Banking, and Graft highlighted significant growth potential for supply chain finance. Ritterbusch also broke down noninterest-bearing deposit growth as being driven primarily by mortgage warehouse deposits (over 50%) and TPAY float (under 50%).

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    Matt Olney's questions to Triumph Financial (TFIN) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. asked about the GreenScreens acquisition's integration and growth prospects, the outlook for the Payments segment's EBITDA margin, drivers of the average factoring invoice size, the growth potential for supply chain financing, and the composition of noninterest-bearing deposit growth.

    Answer

    CEO Aaron Graft and President of Intelligence Dawn Salvucci-Favier detailed the GreenScreens integration, highlighting a pipeline ACV increase to $80k and expectations for the Intelligence segment to grow fastest. President of Payments & Banking Todd Ritterbusch stated a long-term goal of over 40% EBITDA margin for the Payments segment. President of Factoring Kim Fisk explained that invoice size is influenced by customer mix. Ritterbusch also clarified that recent NIB deposit growth was driven by mortgage warehouse deposits and TPAY float.

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    Matt Olney's questions to Triumph Financial (TFIN) leadership • Q4 2024

    Question

    Matt Olney inquired about the go-to-market strategy for the new Intelligence segment, including target clients, and asked for an outlook on its potential revenue ramp over the next few years.

    Answer

    CEO Aaron Graft explained that the initial target clients are the 560 existing TriumphPay customers. The strategy is a direct response to client requests for data, leveraging Triumph's position as a neutral, high-volume, and precise data source. Graft noted the segment's gross margin is over 90% as it uses existing data. He stated that while revenue will grow in 2025, it will not be meaningful until potentially the latter half of 2026, as the company is focused on delivering a product of excellence rather than rushing it to market.

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    Matt Olney's questions to Triumph Financial (TFIN) leadership • Q1 2024

    Question

    Matt Olney of Stephens Inc. requested information on the long-term KPIs and goals for the Factoring-as-a-Service (FaaS) offering. He also asked for more financial details on the 'green screens' acquisition to better incorporate it into his financial model.

    Answer

    Executive Aaron Graft explained that they will add a second FaaS client in the back half of the year and more in 2026, reiterating his belief that the Factoring segment's revenue will 'at least double' over time, driven largely by FaaS. Regarding 'green screens,' an unnamed executive stated they could not share financials for the private company but expect the deal to close in Q2. Graft added the strategic rationale is to capture a portion of a $600M+ addressable market for broker intelligence, an investment the board believes will create more value than share buybacks.

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    Matt Olney's questions to Bank7 (BSVN) leadership

    Matt Olney's questions to Bank7 (BSVN) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. asked for clarification on Q3 fee income guidance, details on loan growth drivers like energy lending, and the bank's balance sheet sensitivity to potential interest rate cuts.

    Answer

    CFO Kelly Harris clarified the Q3 fee projection is $2 million, split evenly between core and oil & gas. President & Chief Credit Officer Jason Estes detailed that growth was driven by hedged production loans and C&I, while CEO Thomas Travis noted that overall energy exposure as a percentage of the portfolio has declined over the long term. Kelly Harris added that the bank anticipates loan and deposit betas to remain one-for-one for the next few rate cuts, with loan floors providing support.

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    Matt Olney's questions to Bank7 (BSVN) leadership • Q4 2024

    Question

    Matt Olney from Stephens Inc. asked if a material shift in the loan portfolio mix is expected in 2025, given paydowns and backfilling in energy and hospitality. He also sought to clarify 2025 loan growth expectations, asked for the dollar amount of the nonaccrual interest that benefited Q4, and requested a forecast for fee income.

    Answer

    Jason Estes (Executive) stated that the loan mix will remain within historical ranges, noting there is room to backfill in energy and hospitality, which are at the low end of their typical concentration. He said low single-digit loan growth for 2025 is a reasonable but disappointing expectation, with any upside likely occurring in the second half of the year. Thomas Travis (Executive) specified the elevated nonaccrual interest in Q4 was approximately $600,000 and commented on heightened regulatory scrutiny of CRE. Kelly Harris (Executive) forecasted Q1 fee income to be $2.4 million.

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    Matt Olney's questions to Bank7 (BSVN) leadership • Q3 2024

    Question

    Matt Olney from Stephens Inc. sought details on Bank7's M&A strategy, including the ideal characteristics of a partner and key financial evaluation metrics. He also asked how the pace of Federal Reserve rate cuts might impact the bank's core margin.

    Answer

    Executive Thomas Travis detailed the bank's M&A criteria, emphasizing a preference for partners with strong core deposits and cultural alignment, potentially including a merger of equals (MOE). He explained that their evaluation is based on a holistic view of financial metrics over a 3-to-5-year strategic period, not a single metric. Regarding interest rates, Travis expressed confidence in managing the net interest margin regardless of the pace of Fed cuts, citing the bank's historical resilience and internal modeling.

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    Matt Olney's questions to Bank7 (BSVN) leadership • Q1 2024

    Question

    Matt Olney inquired about the risk profile of Bank7's energy loan portfolio in relation to commodity price fluctuations. He also asked for color on the decline in nonperforming assets (NPAs) during the quarter and sought an update on the net interest margin (NIM) trajectory.

    Answer

    Executive Jason Estes and Executive Thomas Travis detailed the bank's energy underwriting, which includes stress testing at low commodity prices (e.g., $45 oil) and confirming that large borrowers actively use hedging to de-risk operations. Regarding credit, Estes confirmed the loan book is 'very clean' with low past dues and no alarming migration trends. Executive Kelly Harris addressed the NIM, stating that it bottomed out around 4.60% in Q1, benefiting from a lower cost of funds, and is expected to 'hold up and perform well' in Q2 and Q3.

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    Matt Olney's questions to TEXAS CAPITAL BANCSHARES INC/TX (TCBI) leadership

    Matt Olney's questions to TEXAS CAPITAL BANCSHARES INC/TX (TCBI) leadership • Q2 2025

    Question

    Matt Olney asked about commercial customer behavior and loan demand throughout the volatile quarter and questioned the firm's confidence in its mortgage finance growth guidance, which seems more optimistic than the broader market.

    Answer

    MD & CFO Matt Scurlock stated that strong client acquisition drove C&I growth as anticipated, with stable line utilization. Chairman, President & CEO Rob Holmes added that demand for bank debt from new clients remains high. Regarding mortgage finance, Scurlock reiterated that their guidance is based on a consistent $1.9 trillion market view, with Holmes emphasizing their strategy is to bank select, high-quality clients, not to gain overall market share.

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    Matt Olney's questions to TEXAS CAPITAL BANCSHARES INC/TX (TCBI) leadership • Q1 2025

    Question

    Matt Olney of Stephens Inc. followed up on the mortgage finance self-funding ratio, asking about the drivers for its expected decline to 95% and whether it could improve further. He also asked for the specific hedge impact on NII in Q1.

    Answer

    CFO Matt Scurlock explained the decline in the self-funding ratio is a positive reflection of strong deposit growth in other core commercial areas of the bank. This allows TCBI to selectively reduce higher-cost deposits in the mortgage finance business where it cannot earn an acceptable aggregate return. He expects the ratio to remain below 100% for the foreseeable future. Scurlock also stated the hedge impact on NII in Q1 was approximately $8 million.

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    Matt Olney's questions to TEXAS CAPITAL BANCSHARES INC/TX (TCBI) leadership • Q3 2024

    Question

    Matt Olney asked for details on the future impact of interest rate hedges as they mature and how technology investments are enabling the company to maintain flat expense levels into next year.

    Answer

    CFO Matt Scurlock pointed to new disclosures detailing hedge maturities, noting the first significant tranche expires in Q2 2025, which should provide a net interest income benefit. President and CEO Rob Holmes explained that technology investments in client journeys, workflow automation, and a modern, unified tech stack are driving efficiencies and reducing operating risk, allowing for disciplined expense management while still investing for growth.

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    Matt Olney's questions to HANCOCK WHITNEY (HWC) leadership

    Matt Olney's questions to HANCOCK WHITNEY (HWC) leadership • Q2 2025

    Question

    Matt Olney of Stephens Inc. asked about the higher-than-expected charge-offs in Q2 and the outlook for both charge-offs and criticized commercial loans for the remainder of the year.

    Answer

    Chief Credit Officer Chris Ziluca explained that Q2 charge-offs were elevated due to the resolution of a few specific, reserved-for credits. He expressed confidence in the full-year guidance, citing no systemic portfolio issues and noting that outflows from the criticized loan category are currently outpacing inflows, signaling an improving trend.

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    Matt Olney's questions to HANCOCK WHITNEY (HWC) leadership • Q1 2025

    Question

    Matt Olney of Stephens asked for the expected contribution of new hires to the back-half-loaded loan growth and for color on loan pipelines. He also inquired about the target mix of producers for the 20-30 hires planned for the year.

    Answer

    CFO Michael Achary quantified that new hires are expected to contribute about 15% of the year's total loan growth. CEO John Hairston added that the contribution could be higher if they can accelerate hiring in faster-producing areas like equipment finance. For the hiring mix, Mr. Hairston detailed plans for a couple of hires in each specialty line (CRE, equipment finance), about half in business/commercial banking, and four in wealth management, noting they would opportunistically hire more if talent became available.

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    Matt Olney's questions to HANCOCK WHITNEY (HWC) leadership • Q4 2024

    Question

    Matt Olney from Stephens Inc. asked about the strategic rationale for acquiring Sabal Trust to expand the wealth management business now and whether more M&A in that space is likely. He also requested details on the organic growth strategy in Texas.

    Answer

    CEO John Hairston explained that the Sabal acquisition accelerates a decade-long strategy to grow wealth management, which is crucial for serving their target client base of privately-owned businesses. CFO Michael Achary added that the deal complements their existing infrastructure and signals an openness to further inorganic growth, including depository institutions. Hairston detailed the Texas plan, which includes hiring bankers and opening five new financial centers in North Dallas.

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    Matt Olney's questions to HANCOCK WHITNEY (HWC) leadership • Q3 2024

    Question

    Matt Olney asked for updated expectations on deposit betas for the current down-rate cycle and requested details on the commercial loan charge-offs recorded in the third quarter.

    Answer

    CFO Michael Achary provided expectations for deposit betas through the cycle, projecting a total deposit beta of 37-38% and an interest-bearing deposit beta of 57-58%. Chief Credit Officer Christopher Ziluca explained that the Q3 charge-offs were elevated due to a couple of specific C&I credits that the bank decided to charge down, with the remainder being smaller, run-rate items.

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    Matt Olney's questions to Third Coast Bancshares (TCBX) leadership

    Matt Olney's questions to Third Coast Bancshares (TCBX) leadership • Q1 2025

    Question

    Matt Olney from Stephens Inc. asked about the drivers behind the Q1 deposit contraction and sought further details on the loan securitization, including its pro forma impact on CRE concentration ratios, any remaining off-balance sheet exposure, and the nature of the underlying assets.

    Answer

    Executive John McWhorter explained the deposit decline was due to typical seasonality and expects balances to be flattish in Q2. On the securitization, he reported the construction concentration ratio fell from ~148% to the low 130s. The bank retained a $78 million investment-grade security with lower credit risk, backed by floating-rate, short-term (3-year maturity) single-family construction loans, with no other significant off-balance sheet exposure.

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    Matt Olney's questions to Third Coast Bancshares (TCBX) leadership • Q3 2024

    Question

    Matt Olney inquired about the loan growth outlook for 2025, the specific asset classes being reduced, the near-term forecast for the net interest margin (NIM) amid potential Fed rate cuts, and the bank's comfort level with its loan-to-deposit ratio.

    Answer

    Executive Bart Caraway stated that while loan growth can be lumpy, Q4 is shaping up to be on the higher side of the guided range. Executive John McWhorter clarified that the primary asset class runoff was in bond anticipation notes, which is now complete. Regarding the NIM, McWhorter expressed confidence in a flat to positive outlook, citing strong demand deposit growth and a high cost of funds that provides flexibility to lower rates. He also noted the loan-to-deposit ratio is expected to decrease by year-end due to seasonal inflows.

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    Matt Olney's questions to Cadence Bank (CADE) leadership

    Matt Olney's questions to Cadence Bank (CADE) leadership • Q1 2025

    Question

    Matt Olney requested follow-up details on the bond purchases and related borrowings, asking about the timing and duration of the trade. He also asked if the bank might do more of these trades, particularly if loan growth slows.

    Answer

    CFO Valerie Toalson clarified the trade occurred in the last month of the quarter and involved purchasing $785 million of 2.5-year duration agency securities funded by borrowings, capturing a positive spread. She and CEO James Rollins confirmed that future trades are an option and would be driven entirely by the available spread, not necessarily as a substitute for loan growth.

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    Matt Olney's questions to Cadence Bank (CADE) leadership • Q4 2024

    Question

    Matt Olney of Stephens inquired about the competitive landscape for deposit pricing and any near-term tailwinds for the net interest margin (NIM). He also sought clarification on the pricing for incremental new deposits.

    Answer

    CFO Valerie Toalson identified significant NIM tailwinds, including the repricing of about $6 billion in CDs from over 4% to lower rates and the maturation of higher-cost brokered deposits. Executive Chris Bagley noted that deposit competition remains, with CD specials recently picking back up. Toalson confirmed new time deposits were being added in the mid-to-high 3% range.

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    Matt Olney's questions to Cadence Bank (CADE) leadership • Q3 2024

    Question

    Matt Olney of Stephens inquired about the funding for the planned BTFP paydown, asking if it would result in lower overnight liquidity levels. He also requested more color on the credits that migrated to nonaccrual status.

    Answer

    Chairman and CEO James Rollins and EVP and CFO Valerie Toalson confirmed it was a 'fair assumption' that cash levels would normalize to a lower range of $1.0-$1.5 billion. Regarding credit, Rollins and President Chris Bagley described the increase in nonaccruals as 'generic normal flow' from previously identified criticized loans, emphasizing there were no systemic or industry-specific weaknesses.

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    Matt Olney's questions to GUARANTY BANCSHARES INC /TX/ (GNTY) leadership

    Matt Olney's questions to GUARANTY BANCSHARES INC /TX/ (GNTY) leadership • Q1 2025

    Question

    Matt Olney from Stephens Inc. asked for more details on the C&I loan contraction in Q1, the drivers behind the quarter's positive deposit growth, and the strategic plan for the significant expected cash flows from the securities portfolio.

    Answer

    Executive Tyson Abston clarified that the C&I loan balance decrease was due to lower line utilization rather than specific paydowns or company sales. He attributed the strong deposit growth to the bank's consistent strategic focus on acquiring core deposit relationships, noting they expect 2-5% net growth for the year. For the securities portfolio, Abston stated the plan is to continue systematically reinvesting the cash flows into the bond portfolio, dollar-cost averaging and taking advantage of market dislocations, while maintaining ample liquidity for loan growth.

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    Matt Olney's questions to GUARANTY BANCSHARES INC /TX/ (GNTY) leadership • Q1 2025

    Question

    Matt Olney of Stephens Inc. asked for details on the Q1 contraction in C&I loans, the drivers of deposit growth, and the strategy for upcoming cash flows from the securities portfolio.

    Answer

    Executive Tyson Abston attributed the C&I loan decrease to lower line utilization, which he expects could reverse. He highlighted that strong deposit growth is a core part of their model, aiming for 2-5% annual growth through relationship banking. For the anticipated $116 million in securities cash flows, the plan is to systematically reinvest in the bond portfolio, leveraging market opportunities, while maintaining significant liquidity.

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    Matt Olney's questions to GUARANTY BANCSHARES INC /TX/ (GNTY) leadership • Q4 2024

    Question

    Matt Olney of Stephens Inc. inquired about the specifics of the C&I loan growth in Q4, any seasonality in deposit flows, the outlook for operating expenses in 2025, and the bank's current stance on M&A.

    Answer

    Executive Tyson Abston explained that Q4 C&I growth was driven by higher utilization from existing customers, a typical year-end trend, not a new targeted program. He also noted some Q4 deposit seasonality from public funds but stressed the ongoing focus on core deposit franchise building. Executive Shalene Jacobson projected minimal expense growth of 1-2% for 2025, targeting an efficiency ratio of 2.5% of total assets. Regarding M&A, Abston confirmed the bank is actively having conversations and is open to accretive, culturally aligned acquisitions, leveraging its strong capital position.

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    Matt Olney's questions to GUARANTY BANCSHARES INC /TX/ (GNTY) leadership • Q3 2024

    Question

    Matt Olney from Stephens asked about the current competitive landscape for deposit pricing in the company's footprint and the longer-term outlook for deposit betas in a potential rate-down cycle. He also inquired about the dollar amount of floating-rate loans and sought clarity on the company's expense target relative to assets.

    Answer

    Executive Tyson Abston noted that deposit pricing pressure has lessened over the last 6-9 months. Executive Shalene Jacobson added that they are modeling a higher deposit beta sensitivity for rate decreases in early 2025 and confirmed that just under $250 million in loans are floating rate. Regarding expenses, Abston reiterated that 2.5% of assets remains the target, but the company is comfortable floating above it temporarily and will not sacrifice strategic investments to meet the ratio while the balance sheet is shrinking.

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    Matt Olney's questions to GUARANTY BANCSHARES INC /TX/ (GNTY) leadership • Q2 2024

    Question

    Matt Olney inquired about the timeline for loan balance stabilization, the potential for further loan pressure in the second half of the year, and the specifics of the FHLB advances, including rates and duration. He also asked for details on the foreclosed Austin property, including its appraisal value and lease status.

    Answer

    Executive Tyson Abston projected that loan growth would likely resume in 2025 after potential further paydowns of around $100 million in the second half of 2024, pending rate decreases and post-election clarity. He confirmed the Austin property has a $17 million appraisal, is being marketed, and is expected to be 100% occupied soon. Executive Shalene Jacobson added that the repaid FHLB advances had a rate around 5.4% and the remaining short-term advances carry a similar rate.

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    Matt Olney's questions to SIMMONS FIRST NATIONAL (SFNC) leadership

    Matt Olney's questions to SIMMONS FIRST NATIONAL (SFNC) leadership • Q1 2025

    Question

    Matt Olney asked about the process for determining the 60% specific reserve on the two problem credits, how the bank can reiterate full-year expense guidance despite the $4.3 million Q1 fraud loss, and the plan to reduce the $2.9 billion in brokered deposits.

    Answer

    President Jay Brogdon explained the specific reserves were set conservatively by the special assets group to ensure no further losses upon resolution. Regarding expenses, Brogdon and CFO Daniel Hobbs confirmed the full-year guidance holds due to underlying expense discipline, the one-time nature of the fraud charge, and potential future recoveries. Hobbs added that the strategy to reduce brokered deposits relies on growing core customer deposits, which reduces the need for wholesale funding.

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    Matt Olney's questions to SIMMONS FIRST NATIONAL (SFNC) leadership • Q4 2024

    Question

    Matt Olney asked for more detail on why the fourth-quarter Net Interest Margin (NIM) of 2.87% exceeded internal expectations and followed up on the sustainability of the 200 basis point positive spread on repricing fixed-rate loans.

    Answer

    President Jay Brogdon and CFO Daniel Hobbs attributed the Q4 NIM outperformance to better-than-expected pricing discipline on both loans and deposits, particularly by reducing deposit costs faster than anticipated. Mr. Hobbs confirmed the 200 basis point spread on repricing fixed-rate loans is a reasonable near-term assumption, though Mr. Brogdon cautioned that intense market competition for quality credits could affect this spread throughout the year.

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    Matt Olney's questions to SIMMONS FIRST NATIONAL (SFNC) leadership • Q3 2024

    Question

    Matt Olney of Stephens Inc. asked for details on the reinvestment plans for savings from branch closures and the near-term expense outlook. He also inquired about the potential for positive operating leverage in 2025 and sought more color on the bank's indexed deposits.

    Answer

    CFO Daniel Hobbs explained that savings will be partly reinvested into revenue-generating initiatives and partly taken to the bottom line, and he expects to beat the full-year expense guidance. President Jay Brogdon confirmed that achieving positive operating leverage in 2025 is a primary goal. Hobbs clarified that the indexed deposits are tied to Fed funds and reprice immediately, benefiting the bank in a falling rate environment.

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    Matt Olney's questions to Veritex Holdings (VBTX) leadership

    Matt Olney's questions to Veritex Holdings (VBTX) leadership • Q4 2024

    Question

    Matt Olney requested more specific guidance on the expected 'moderate expense growth' for 2025 and asked about the timing for when net loan balances would begin to grow again after a period of high paydowns.

    Answer

    CFO Terry Earley clarified that 'moderate expense growth' is expected to be in the 'low to mid-single digits.' CEO Malcolm Holland projected that net loan growth would likely begin in the second quarter of 2025, with full-year growth forecasted in the low to mid-single-digit range. He noted that while payoffs are hard to predict, current forecasts show them being heaviest in the back half of the year.

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    Matt Olney's questions to Veritex Holdings (VBTX) leadership • Q3 2024

    Question

    Matt Olney of Stephens Inc. asked about the bank's plans for its significant overnight liquidity position. He also requested details on the dollar amount of floating-rate loans and indexed liabilities and how quickly they reprice following Fed rate changes.

    Answer

    CFO Terry Earley stated that carrying high excess liquidity is not the goal and the plan is to deploy it through a combination of paying down wholesale deposits, purchasing securities, funding loan growth, and shedding other high-cost deposits. He noted that approximately 75% of the loan portfolio is floating-rate. On the liability side, about $2.5 billion in deposits are contractually or functionally indexed to the Fed funds rate and reprice "immediately" with any changes.

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    Matt Olney's questions to PROSPERITY BANCSHARES (PB) leadership

    Matt Olney's questions to PROSPERITY BANCSHARES (PB) leadership • Q4 2024

    Question

    Matt Olney sought more detail on the new investment securities being purchased, specifically regarding product type, yield, and duration. He also asked for the expense outlook beyond the first quarter of 2025.

    Answer

    Senior Chairman and CEO David Zalman confirmed the bank's strategy remains focused on 15-year fully amortized mortgage-backed securities. CFO Asylbek Osmonov added that the $150 million in securities purchased in Q4 yielded about 5.05%. For expenses, Osmonov projected a 1% to 2% increase in the second half of the year over the Q1 baseline of $141-$143 million, driven by annual merit increases and technology investments.

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    Matt Olney's questions to PROSPERITY BANCSHARES (PB) leadership • Q3 2024

    Question

    Matt Olney of Stephens Inc. inquired about the company's strategy for its $3.9 billion in borrowings, particularly in a flat loan growth environment, and asked about the expected borrowing and overnight liquidity levels for 2025.

    Answer

    CFO Asylbek Osmonov and CEO David Zalman explained the plan is to pay down borrowings, which will be accretive to the Net Interest Margin (NIM). They confirmed a recent $500 million paydown and projected reducing borrowings by another $1 billion to $1.5 billion over time. They also stated the overnight cash position would be maintained in a comfortable range of $1.5 billion to $2.0 billion.

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    Matt Olney's questions to FBMS leadership

    Matt Olney's questions to FBMS leadership • Q2 2024

    Question

    Asked about the outlook for loan growth, deposit costs, and earning assets for the second half of the year. Later, he followed up on the nature of substandard loan paydowns and the bank's appetite for securities restructuring.

    Answer

    Management expects a mid-single-digit loan growth pace, a relatively stable net interest margin with deposit costs flattening, and potentially flat to slightly increased earning assets. Substandard loan paydowns were often facilitated by asset sales where the principal had been sufficiently reduced. The bank is open to another securities restructuring if the economics are favorable, similar to the one completed at year-end.

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    Matt Olney's questions to FBMS leadership • Q1 2024

    Question

    The analyst asked about the current competitive landscape for deposit costs, the expected balance sheet seasonality for the second quarter, and the company's appetite for further securities portfolio restructuring.

    Answer

    Executives noted that while deposit competition persists with some banks offering rates around 5-5.25%, the pressure is less intense than in Q4. For Q2, they expect the balance sheet to be relatively flat as public fund outflows are offset by seasonal deposit inflows from tourist markets. They are actively evaluating another securities portfolio trade and will execute it if the financial benefits are attractive.

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    Matt Olney's questions to FBMS leadership • Q4 2023

    Question

    Asked for a quantification of the expected Q1 margin compression, the impact of public fund flows, the timing of the bond restructure's benefits, the intensity and source of deposit competition, the drivers of higher Q4 expenses, the expense outlook for 2024, and the reason for lower sequential fee income.

    Answer

    Management guided to Q1 margin compression being about half of Q4's, with the bond restructure's benefit starting in Q1. They noted deposit competition remains intense from both large and small banks across their footprint. Higher Q4 expenses were due to year-end accruals, and the 2024 expense run rate is guided to ~$44 million per quarter. Lower Q4 fee income was a normalization from an elevated Q3, with Q4 levels being in line with the first half of the year.

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    Matt Olney's questions to FBMS leadership • Q3 2023

    Question

    The analyst requested details on the new deposit gathering campaign, the drivers behind the decline in criticized and classified loans, and the outlook for fee income.

    Answer

    The deposit campaign includes a 5.25% 6-month CD and a 5% money market account tied to a non-interest bearing deposit. The decline in criticized loans was driven by payoffs and upgrades. Fee income was strong due to a non-recurring annual interchange fee payment, so fees are expected to be lower next quarter.

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    Matt Olney's questions to CFB leadership

    Matt Olney's questions to CFB leadership • Q2 2024

    Question

    Asked for updated thoughts on capital deployment strategies like buybacks, given recent increases in bank valuations. Also inquired about the drivers for the balance sheet's shift toward a more rate-neutral position and the outlook for its interest rate sensitivity.

    Answer

    Executives noted that with the stock price now higher, buybacks are less attractive, and the focus for capital deployment will shift more towards funding high-quality organic growth. The balance sheet became more rate-neutral due to adding more variable-rate loans and shifting time deposit maturities out slightly. However, they confirmed the bank remains positioned to benefit from a potential rate cut.

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    Matt Olney's questions to CFB leadership • Q1 2024

    Question

    Inquired about the sensitivity of loan portfolio churn to interest rates and its impact on the loan growth outlook, and asked about the potential for security yield improvement and further portfolio restructurings.

    Answer

    Management expects increased loan churn regardless of rate cuts, though recent rate moves caused a slight pause. They are comfortable with their loan growth guidance, noting higher churn could be a net positive for NIM. They expect continued modest improvement in securities yields from reinvestment but have no immediate plans for further large-scale restructurings.

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    Matt Olney's questions to CFB leadership • Q3 2023

    Question

    Asked about the ongoing transition of the securities portfolio, the company's tolerance for realizing losses in a potential restructuring, and whether DDA balances have bottomed out.

    Answer

    The securities portfolio transition is in the 'fifth or sixth inning.' A potential restructuring would be guided by not compromising capital ratios, having a short earnback period (1-2 years), and being neutral or accretive to risk-based capital ratios. The relative size of the portfolio is expected to remain consistent. The company's goal is to grow DDA and core deposits from current levels.

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    Matt Olney's questions to IBTX leadership

    Matt Olney's questions to IBTX leadership • Q1 2024

    Question

    Inquired about changes in the bank's interest rate sensitivity, sought more data to support the deposit cost stabilization outlook, and asked for details on the competitive landscape in mortgage warehouse lending.

    Answer

    The bank remains liability sensitive, though slightly less so after paying down some wholesale funds. Confidence in deposit cost stabilization comes from the ability to replace high-cost funding with lower-cost core deposit growth. Mortgage warehouse balances are expected to be maintained or grow, supported by seasonality and competitor exits from the business line.

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    Matt Olney's questions to IBTX leadership • Q4 2023

    Question

    Pressed for more specific near-term guidance on Net Interest Income (NII) and Net Interest Margin (NIM) for Q1, questioned the timing of the NIM inflection point, and asked for details on the higher expense outlook.

    Answer

    Management guided to a 5-7 basis point NIM increase in Q1 2024, with an expectation to reach ~3% by year-end 2024. They confirmed the NIM likely bottomed out late in Q4 2023. The higher expense guidance of ~$85 million per quarter is due to typical Q1 items like merit/bonus season and strategic investments, and this run-rate is expected for the next several quarters.

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    Matt Olney's questions to IBTX leadership • Q3 2023

    Question

    Inquired about the monthly margin trend in Q3, the outlook for net interest income, the drivers of Q3 deposit costs, the volume of indexed deposits, and the ideal interest rate environment for 2024.

    Answer

    The margin expanded from August to September. NII is expected to be stable in Q4 and then grow. Higher Q3 deposit costs were a result of a deliberate strategy to reduce borrowings. The bank has $3-4 billion in indexed deposits and would benefit meaningfully from Fed rate cuts and a steeper yield curve.

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