CapStar Financial Holdings, Inc. (CSTR) has reported a 3.57 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $2.11 million, or $0.20 a share in the quarter, compared with $2.04 million, or $0.20 a share for the same period last year.
Revenue during the quarter went up marginally by 1.80 percent to $11.68 million from $11.47 million in the previous year period. Net interest income for the quarter rose 7.52 percent over the prior year period to $10.13 million. Non-interest income for the quarter rose 21.13 percent over the last year period to $3.19 million.
CapStar Financial Holdings, Inc. has made provision of $1.64 million for loan losses during the quarter, up 182.53 percent from $0.58 million in the same period last year.
Net interest margin contracted 22 basis points to 3.23 percent in the quarter from 3.45 percent in the last year period. Efficiency ratio for the quarter improved to 64 percent from 71.40 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.
"Our emphasis has always been on the principles of sound, profitable growth, which is evident in CapStar’s results this quarter," said Claire Tucker president and chief executive officer of CapStar Financial Holdings, Inc. "With the completion of our initial public offering on September 27, 2016 and the injection of new capital, we will continue to emphasize the importance of these principles in order to realize our future growth objectives and enhance long-term shareholder value."
Noninterest-bearing deposit liabilities were $191.47 million or 16.85 percent of total deposits on Sep. 30, 2016, compared with $187.10 million or 19.19 percent of total deposits on Sep. 30, 2015.
Investments were almost stable over the past one year at $213.44 million on Sep. 30, 2016. Shareholders equity was at $138.43 million as on Sep. 30, 2016.
Return on average assets moved down 6 basis points to 0.65 percent in the quarter from 0.71 percent in the last year period. At the same time, return on average equity decreased 35 basis points to 7.15 percent in the quarter from 7.50 percent in the last year period.
Nonperforming assets moved up 25.06 percent or $0.83 million to $4.12 million on Sep. 30, 2016 from $3.30 million on Sep. 30, 2015. Meanwhile, nonperforming assets to total assets was 0.31 percent in the quarter, up from 0.29 percent in the last year period.
Book value per share was $11.57 for the quarter, up 8.64 percent or $0.92 compared to $10.65 for the same period last year.
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