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    Will Jones

    Stock Analyst at Keefe, Bruyette & Woods (KBW)

    Will Jones is a Stock Analyst at Keefe, Bruyette & Woods (KBW), specializing in the financials sector with a focus on regional banks. He has covered companies including Hancock Whitney and USCB Financial Holdings Inc., with a perfect 100% success rate on rated stocks and an average return of 25.67%. Jones began his analyst career at KBW and is currently ranked #1,884 out of 4,698 analysts according to Stock Analysis. He holds FINRA registration under William Bradford Jones, reflecting his compliance credentials and professionalism in equity research.

    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership

    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership • Q2 2025

    Question

    Will Jones of Keefe, Bruyette & Woods inquired about USCB's strategy for international deposit gathering following its new investment-grade rating, the potential scale of this opportunity, and the cost differential compared to domestic deposits. He also asked about the net interest margin (NIM) outlook, particularly the potential impact of future interest rate cuts.

    Answer

    President, CEO & Chairman Luis de la Aguilera explained the relationship-driven strategy to grow deposits from their portfolio of 30+ correspondent banks in the Caribbean Basin and Central America, noting the new rating removes deposit limits for some of these clients. CFO Rob Anderson specified that the $268 million in global banking deposits have a low cost of 1.74%. He also confirmed that due to the bank's liability-sensitive balance sheet and large money market book, they expect the NIM to improve in a rate-cut environment.

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    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership • Q2 2025

    Question

    Will Jones from Keefe, Bruyette & Woods inquired about the strategy for international deposit gathering following the new investment-grade rating, the potential size of this opportunity, the cost difference versus domestic deposits, and the outlook for the net interest margin (NIM) if rate cuts occur.

    Answer

    President, CEO & Chairman Luis de la Aguilera detailed a relationship-driven strategy to grow deposits from a portfolio of approximately 30 correspondent banks, noting the new rating removes deposit limits for some institutions. CFO Rob Anderson added that the $268 million in global deposits have a lower cost at 1.74% and confirmed the bank's liability-sensitive position should allow the NIM to improve in a rate-cut environment.

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    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership • Q2 2025

    Question

    Will Jones of Keefe, Bruyette & Woods inquired about USCB's strategy for growing its international deposit base following its new investment-grade rating, the cost difference between international and domestic deposits, and the outlook for the net interest margin (NIM) if rate cuts occur.

    Answer

    President, CEO & Chairman Luis de la Aguilera explained the relationship-driven strategy to grow deposits from correspondent banks in the Caribbean and Central America, noting the new rating removes deposit limits for some foreign bank clients. CFO Rob Anderson added that the $268 million in global deposits have a low cost of 1.74% and confirmed that in a rate-cut environment, the bank's liability-sensitive position and large money market book should allow for margin improvement.

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    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership • Q2 2025

    Question

    Will Jones from Keefe, Bruyette & Woods (KBW) asked about the strategy for gathering international deposits following the bank's new investment-grade rating, inquiring about the potential size of this opportunity and the cost difference compared to domestic deposits. He also questioned how potential interest rate cuts would impact the net interest margin (NIM).

    Answer

    President, CEO & Chairman Luis de la Aguilera explained the relationship-driven strategy to grow deposits from a portfolio of correspondent banks in the Caribbean Basin and Central America, noting the new rating removes deposit limits for some of these foreign banks. CFO Rob Anderson specified that the $268 million in global deposits have a cost of 1.74%, below the bank's overall funding cost. He added that the bank is liability-sensitive, and with a large money market book, rate cuts are expected to provide a boost to the NIM.

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    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership • Q2 2025

    Question

    Will Jones from Keefe, Bruyette & Woods (KBW) inquired about the strategy and potential of the international deposit business following the new investment-grade rating, the cost differential versus domestic deposits, and the outlook for the net interest margin (NIM) if rate cuts occur.

    Answer

    CEO Luis de la Aguilera detailed a relationship-driven strategy to grow international correspondent banking deposits, noting the new rating removes deposit limits for some foreign banks. CFO Rob Anderson specified the current international book is $268 million at a cost of 1.74%, below the bank's overall funding cost. He also confirmed the bank is liability-sensitive and expects NIM to improve in a rate-cut environment due to its ability to reprice its large money market book downward.

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    Will Jones's questions to USCB FINANCIAL HOLDINGS (USCB) leadership • Q2 2025

    Question

    Will Jones inquired about the strategy and potential scale of gathering international deposits following the company's new investment-grade rating. He also asked about the cost difference between international and domestic deposits and the outlook for the net interest margin (NIM) if rate cuts occur.

    Answer

    President, CEO & Chairman Luis de la Aguilera explained the relationship-driven strategy to grow deposits from a portfolio of 30+ correspondent banks in the Caribbean and Latin America, noting the new rating removes deposit limits for some partners. CFO Rob Anderson added that the current $268 million in global banking deposits have a low cost of 1.74%. He also confirmed that in a rate-cut scenario, the bank's liability-sensitive balance sheet and large money market book would allow for repricing that should boost the NIM.

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    Will Jones's questions to Stellar Bancorp (STEL) leadership

    Will Jones's questions to Stellar Bancorp (STEL) leadership • Q2 2025

    Question

    Will Jones from Keefe, Bruyette & Woods (KBW) asked about the net interest margin (NIM) outlook amid deposit competition, the bank's strategy for its securities portfolio, and the approach to deploying excess capital between buybacks and organic growth.

    Answer

    Senior EVP & CFO Paul Egge expressed confidence in defending the margin, noting it will be driven by funding composition and a reduced reliance on wholesale funds. He also confirmed satisfaction with the current size of the securities portfolio as a percentage of assets. Regarding capital, Egge prioritized organic growth, followed by other strategic uses, viewing share repurchases as a price-sensitive tool.

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    Will Jones's questions to Amerant Bancorp (AMTB) leadership

    Will Jones's questions to Amerant Bancorp (AMTB) leadership • Q2 2025

    Question

    Will Jones asked for the dollar amount of Q2 interest recoveries to normalize the NIM, inquired about the bank's asset sensitivity to potential rate cuts, questioned the decision to grow the securities portfolio versus paying down wholesale funding, and asked about M&A's place in the company's priorities.

    Answer

    CFO Sharymar Calderón quantified the Q2 recovery impact at $1.2M-$1.3M and stated a rate cut would impact NII by $1.4M-$1.5M per quarter. She explained that the securities portfolio adds yield, improves CET1, and provides funding optionality. CEO Jerry Plush reiterated that organic growth is the top priority and M&A is not a current focus, though it remains an option as the bank's performance and currency improve.

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    Will Jones's questions to Ferguson Enterprises Inc. /DE/ (FERG) leadership

    Will Jones's questions to Ferguson Enterprises Inc. /DE/ (FERG) leadership • Q3 2025

    Question

    Will Jones asked how Ferguson is managing its own-brand business amid changing tariff dynamics. He also requested an update on the company's distribution center network, including recent openings and future plans.

    Answer

    CEO Kevin Murphy explained that the own-brand business, about 10% of revenue, is managed through a diversified sourcing strategy across 31 countries to mitigate tariff risks. CFO Bill Brundage added that the company continues to invest in its supply chain, with five market distribution centers now open, two more in process, and ongoing investment in automation and local inventory.

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    Will Jones's questions to CULLEN/FROST BANKERS (CFR) leadership

    Will Jones's questions to CULLEN/FROST BANKERS (CFR) leadership • Q4 2024

    Question

    Will Jones asked about the balance sheet strategy for 2025, questioning if the investment portfolio would remain flat and how aggressively the bank would deploy its liquidity. He also inquired about deposit beta expectations and the NII impact per Fed rate cut.

    Answer

    Chairman and CEO Phillip Green stated the bank plans to accelerate securities purchases in Q1, targeting a $4 billion investment strategy for 2025, funded by maturities and existing liquidity. He expects the cumulative deposit beta to land around 45%. He confirmed a potential $1.7 million monthly NII impact per rate cut, which CFO Dan Geddes cautioned is an 'all else equal' figure subject to other balance sheet dynamics.

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    Will Jones's questions to COMPAGNIE DE SAINT GOBAIN (CODYY) leadership

    Will Jones's questions to COMPAGNIE DE SAINT GOBAIN (CODYY) leadership • H1 2019

    Question

    Will Jones of Redburn asked whether the H1 or Q2 volume run-rate was more indicative for H2, requested an update on European construction glass capacity, and sought to understand the significant margin seasonality in the Americas during the prior year.

    Answer

    CEO Pierre-André de Chalendar stated that the H1 volume run-rate is more representative, as Q2 was skewed by working days and a high comparison base. He described the European glass market as balanced, not expecting significant price changes. COO Benoit Bazin explained that the stronger H2 margin in the Americas last year was driven by a very favorable pricing environment.

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