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    Steve Moss • Raymond James Financial

    Steve Moss's questions to NBT Bancorp Inc (NBTB) leadership

    Steve Moss's questions to NBT Bancorp Inc (NBTB) leadership • Q2 2025

    Question

    Steve Moss from Raymond James Financial asked for an outlook on the loan pipeline and business activity for the second half of the year. He also inquired about current loan pricing, where competition is most intense, and whether larger banks are becoming more competitive in NBT's markets.

    Answer

    President & CEO Scott Kingsley described the loan pipeline as being at its highest level ever, partly due to the Evans acquisition. However, he noted that 'uncertainty does not inspire action,' causing hesitation and a slowdown in the speed to completion for new projects. He expects the growth rate to be similar to the first half. Kingsley identified the indirect auto space as highly competitive, forcing NBT to focus on replacing cash flows rather than aggressive growth. He stated that competition is not radically different, with no significant new pressure from larger banks, but some defensive pricing from smaller competitors.

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    Steve Moss's questions to Camden National Corp (CAC) leadership

    Steve Moss's questions to Camden National Corp (CAC) leadership • Q2 2025

    Question

    Steve Moss from Raymond James Financial inquired about the specific industry of the C&I borrower that filed for bankruptcy, the impact of the non-accrual on net interest income, the drivers behind the improved loan pipeline, and the outlook for net interest margin expansion.

    Answer

    CFO Michael Archer confirmed the loan was a C&I syndication and its non-accrual status impacted the quarterly net interest margin by approximately one basis point. President & CEO Simon Griffiths characterized the borrower as a service company and emphasized that this was an isolated issue, with overall credit metrics remaining strong. Griffiths also noted the loan pipeline's strength was broad-based, with significant momentum in commercial and home equity loans, and projected continued NIM expansion of plus or minus 5-10 basis points in the next quarter, contingent on Fed actions.

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    Steve Moss's questions to Bankwell Financial Group Inc (BWFG) leadership

    Steve Moss's questions to Bankwell Financial Group Inc (BWFG) leadership • Q2 2025

    Question

    Steve Moss asked for an estimate of the potential deposit growth from the five newly hired teams, the expected timeline for resolving two large non-performing loans, and the sensitivity of the net interest margin to a potential 25 basis point Fed rate cut.

    Answer

    President & CBO Matthew McNeill stated that while the new teams previously managed hundreds of millions in deposits, it's too early to quantify the potential inflow but noted one large non-performing loan could be resolved in the next several months while the other will take longer. CFO Courtney Sacchetti projected that even without a rate cut, NIM could expand by 5-10 basis points, with a potential Fed cut adding another 10 basis points.

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    Steve Moss's questions to FB Financial Corp (FBK) leadership

    Steve Moss's questions to FB Financial Corp (FBK) leadership • Q1 2025

    Question

    Stephen Moss followed up on loan pricing, asking for the current yield on new loan originations. He also inquired whether the bank was considering any balance sheet hedging strategies, such as swaps, to alter its interest rate sensitivity.

    Answer

    CFO Michael Mettee stated that new loans are currently being originated at yields between 7.00% and 7.10% on average. Regarding hedging, Mettee confirmed they constantly evaluate options but have found the cost to outweigh the benefit historically. He said the bank prefers to manage its position through disciplined loan and deposit pricing and is not currently putting on any hedges.

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    Steve Moss's questions to FB Financial Corp (FBK) leadership • Q4 2024

    Question

    Steve Moss sought clarification on the large C&I charge-off, asking if the Q4 provision was related to it, and inquired about the balance sheet's current sensitivity to potential Federal Reserve rate cuts.

    Answer

    Executive Travis Edmondson and Executive Christopher Holmes clarified that the specific reserve for the large charge-off was established in prior quarters, mainly Q2. Executive Michael Mettee added that the Q4 provision was driven by loan growth and economic forecast updates. Mettee also described the balance sheet as slightly asset sensitive, and Holmes noted that the mortgage business provides a lever that would ramp up if rates were to fall significantly.

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    Steve Moss's questions to Atlantic Union Bankshares Corp (AUB) leadership

    Steve Moss's questions to Atlantic Union Bankshares Corp (AUB) leadership • Q4 2024

    Question

    Steve Moss from Raymond James asked for the expected purchase accounting accretion in the 2025 stand-alone guide, current loan pricing trends, recovery prospects for the large nonperforming loan, and confirmation of the Sandy Spring-related CRE sale and equity raise.

    Answer

    EVP and CFO Rob Gorman confirmed stand-alone accretion is stable at 20-22 basis points. Chief Credit Officer Douglas Woolley stated the specific reserve on the nonperforming loan reflects the currently anticipated loss. Gorman and President and CEO John Asbury reaffirmed their plans to execute the full $2 billion CRE sale and the associated forward equity issuance, stating they feel good about the original assumptions despite rate moves.

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    Steve Moss's questions to Valley National Bancorp (VLY) leadership

    Steve Moss's questions to Valley National Bancorp (VLY) leadership • Q3 2024

    Question

    Steve Moss of Raymond James & Associates, Inc. asked about the drivers of strong C&I loan growth, the reasons for the increasing reserve allocation to that portfolio, and the outlook for criticized and classified assets.

    Answer

    President Tom Iadanza explained that C&I growth is relationship-driven, stemming from middle-market teams hired over five years, especially in Florida, and is not reliant on participations. An executive added that the higher C&I reserve is due to a higher loss-given-default expectation and some migration in the current rate environment, but they expect this migration to abate and potentially improve in 2025.

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