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    Timothy Mitchell • Raymond James & Associates, Inc.

    Timothy Mitchell's questions to Firstsun Capital Bancorp (FSUN) leadership

    Timothy Mitchell's questions to Firstsun Capital Bancorp (FSUN) leadership • Q1 2025

    Question

    Timothy Mitchell from Raymond James asked for color on the competitive landscape for loan growth, new loan pricing, and the pipeline, as well as the potential for deposit costs to decline absent Fed rate cuts.

    Answer

    Chief Financial Officer Robert Cafera noted that C&I loan activity and pricing remain strong, with a robust pipeline heading into Q2. Chief Executive Officer Neal Arnold added that March was a particularly strong month. On deposits, Mr. Cafera stated that while mix may improve, the pricing environment remains competitive, and he does not expect significant cost declines without macro rate changes. He also highlighted strong deposit gathering in the new Southern California offices.

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    Timothy Mitchell's questions to Hilltop Holdings Inc (HTH) leadership

    Timothy Mitchell's questions to Hilltop Holdings Inc (HTH) leadership • Q1 2025

    Question

    Timothy Mitchell from Raymond James posed several questions regarding fee income and growth. He asked about the impact of recent bond market volatility on HilltopSecurities and the outlook for the mortgage business, including its rightsizing strategy. He followed up on the loan growth outlook, customer pipeline activity, and the planned level of mortgage retention, and also asked about the company's appetite for continued stock repurchases.

    Answer

    William Furr (executive) addressed the market volatility, noting the municipal portfolio was impacted in April, but the firm is managing through it. He described the mortgage business as being on a slow healing trajectory and confirmed the strategy is to rightsize costs while actively recruiting loan officers. Jeremy Ford (executive) added that loan pipelines remain strong despite a competitive environment. Furr specified that mortgage retention would likely be at the higher end of the $10-$30 million monthly range. Finally, Ford confirmed that with $67 million remaining on the buyback authorization, repurchases are under active consideration.

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    Timothy Mitchell's questions to Origin Bancorp Inc (OBK) leadership

    Timothy Mitchell's questions to Origin Bancorp Inc (OBK) leadership • Q1 2025

    Question

    Timothy Mitchell from Raymond James asked about commercial real estate payoff trends, updates on strategic hiring efforts, the progress of the Southeast expansion team, and the drivers behind the revised fee income outlook.

    Answer

    President and CEO of Origin Bank, Lance Hall, described a mixed but optimistic environment for commercial loans, highlighting growth opportunities in Texas and the Southeast. He confirmed that strategic hiring remains a priority, with the Houston team performing exceptionally and the Southeast team progressing as planned with a strong pipeline. CFO Wally Wallace clarified that the reduced fee income guidance is primarily due to the mortgage business restructuring, which lowers both revenue and expenses, while noting that strong swap income is an offsetting positive trend.

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    Timothy Mitchell's questions to Trustmark Corp (TRMK) leadership

    Timothy Mitchell's questions to Trustmark Corp (TRMK) leadership • Q1 2025

    Question

    Timothy Mitchell asked for color on the linked-quarter increase in the NPA ratio and reserve build. He also questioned the drivers of the expense outlook and the expected pace of share buybacks and other capital deployment strategies.

    Answer

    Chief Credit and Operations Officer Robert Harvey attributed the reserve build to loan growth and a qualitative adjustment from migrating to internal probability of default models. President and CEO Duane Dewey and Chief Accounting Officer Tom Chambers explained that while Q1 expenses were down, the full-year guidance reflects a future core system conversion and a shift in merit increases to Q3. Regarding capital, Duane Dewey and CFO Thomas Owens stated that the buyback pace is market-dependent but could remain consistent, with flexibility to adjust based on loan growth and potential M&A opportunities.

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    Timothy Mitchell's questions to Trustmark Corp (TRMK) leadership • Q3 2024

    Question

    Timothy Mitchell of Raymond James asked about the reasons for the modest loan decline in Q3, particularly regarding C&I payoffs, and the outlook for Q4 growth. He also questioned Trustmark's strategic approach to market expansion, including its appetite for M&A versus organic growth through team lift-outs.

    Answer

    Chief Credit and Operations Officer Robert Harvey attributed the slight loan shrinkage to normal paydowns on corporate lines late in the quarter, noting that line utilization is expected to rebound and pipelines remain strong. CEO Duane Dewey confirmed that both M&A and organic growth are attractive options, stating they are building an M&A pipeline and actively pursuing organic expansion in markets like Houston and Atlanta, as well as in business lines like Equipment Finance and Mortgage.

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    Timothy Mitchell's questions to Veritex Holdings Inc (VBTX) leadership

    Timothy Mitchell's questions to Veritex Holdings Inc (VBTX) leadership • Q4 2024

    Question

    Timothy Mitchell asked about the forward-looking view on credit, noting the migration into non-performing assets (NPAs), and inquired about the expected net charge-off ratio for 2025. He also questioned if the net interest margin (NIM) could continue to expand throughout the year.

    Answer

    CEO Malcolm Holland stated that the net charge-off ratio for 2025 is expected to be in a similar range to 2024's 21 basis points. He expressed confidence in continued credit improvement due to better early-stage problem loan management. Executive Will Holford confirmed that the NIM is expected to see continued expansion for the full year, driven by the roll-off of sub-debt, securities portfolio restructuring, and ongoing deposit improvements, which should offset headwinds like a maturing hedge.

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    Timothy Mitchell's questions to Amerant Bancorp Inc (AMTB) leadership

    Timothy Mitchell's questions to Amerant Bancorp Inc (AMTB) leadership • Q4 2024

    Question

    Timothy Mitchell of Raymond James & Associates, Inc. asked for details on the expected net interest margin (NIM) pressure in the first quarter, particularly the drivers on both the asset and deposit sides. He also questioned the sustainability of the mid-teens loan growth target throughout 2025 and sought guidance on a good run-rate for fee income.

    Answer

    Executive Sharymar Yepez explained that the Q1 2025 NIM is expected to be slightly lower because assets that repriced late in Q4 will have a full-quarter impact. Executive Gerald Plush affirmed the 15% loan growth target is sustainable, as it already accounts for expected payoffs and is supported by recent hiring. For fee income, Yepez suggested the Q4 level of approximately $18 million is a reasonable quarterly run-rate for 2025, though the composition may shift between mortgage and derivative income. Plush noted that while mortgage banking faces pressure, other fee sources show positive signs.

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    Timothy Mitchell's questions to BOK Financial Corp (BOKF) leadership

    Timothy Mitchell's questions to BOK Financial Corp (BOKF) leadership • Q4 2024

    Question

    Timothy Mitchell of Raymond James inquired about the drivers of the mid-single-digit expense growth guidance and asked for an outlook on other fee businesses like investment banking and brokerage.

    Answer

    CFO Martin Grunst confirmed the guidance includes ongoing investments in talent and IT, with a variable component tied to revenue. CEO Stacy Kymes cited the build-out of a mortgage warehouse lending business as a recent example of such an investment. EVP Scott Grauer noted strong trends in retail brokerage and explained that investment banking, which is concentrated in seasonal municipal finance, is expected to rebound as debt cycles resume.

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    Timothy Mitchell's questions to Pinnacle Financial Partners Inc (PNFP) leadership

    Timothy Mitchell's questions to Pinnacle Financial Partners Inc (PNFP) leadership • Q3 2024

    Question

    Timothy Mitchell, on for Michael Rose, asked for details on the CD portfolio's maturity schedule and the rationale behind lowering the target rate for loan renewals.

    Answer

    Executive Harold Carpenter detailed the CD maturity profile, stating that roughly 80% of the book is one year or less, and about 50% is three months or less, providing a rapid repricing structure. On loan pricing, he explained that the target rates for renewals were lowered to be more competitive. He noted that previous, higher target rates were causing the bank to miss out on some loan growth opportunities, particularly in areas like private wealth mortgages, as relationship managers were hesitant to negotiate from a rate that was too far above the market.

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