Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) announced net
income for the quarter ended March 31, 2021 of $13.4 million, or
$0.65 per diluted share, compared to $2.2 million, or $0.10 per
diluted share, for the first quarter of 2020 and $10.0 million, or
$0.48 per diluted share, for the fourth quarter of 2020.
“Atlantic Capital reported another quarter of
strong revenue growth despite lower interest rates and soft loan
demand. As the economic recovery has gained strength, our
borrowers’ performance has improved which has resulted in a
reduction in the allowance for credit losses. We anticipate these
trends in revenue growth and credit quality improvement to continue
over the balance of the year,” remarked Douglas Williams, President
and Chief Executive Officer.
First Quarter
Highlights(1)
- Total assets of
$3.7 billion, compared to $3.6 billion at December 31, 2020 and
$2.7 billion at March 31, 2020.
- Loans held for
investment increased $51.2 million, or 9% annualized, from December
31, 2020 and increased $367.9 million, or 19%, from March 31,
2020.
- Quarterly
average deposits increased $282.5 million, or 39% annualized,
compared to the fourth quarter of 2020 and increased $902.4
million, or 40%, compared to the first quarter of 2020.
- Cost of deposits
decreased to 0.12% from 0.16% in the fourth quarter of 2020 and
from 0.75% in the first quarter of 2020.
- Tangible book
value per share increased to $15.74 from $15.62 at December 31,
2020 and from $14.54 at March 31, 2020.
- Annualized net
charge-offs to average loans totaled 0.04% for the first quarter of
2021 and non-performing assets to total assets were 0.06% at March
31, 2021.
- The allowance
for credit losses was 1.31% of total loans held for investment at
March 31, 2021, compared to 1.55% at December 31, 2020.
- Repurchased
222,000 shares in the first quarter of 2021 totaling $4.2 million
at an average price of $18.87. As of March 31, 2021, approximately
$3.1 million remained from our $25 million share repurchase
program.
Income Statement
Taxable equivalent net interest income totaled
$23.7 million for the first quarter of 2021, an increase of $2.5
million, or 12%, from the first quarter of 2020, and an increase of
$721,000, or 13% annualized, from the fourth quarter of 2020. The
first quarter of 2021 included $2.2 million in Paycheck Protection
Program (“PPP”) loan income compared to $2.3 million in the fourth
quarter of 2020.
Taxable equivalent net interest margin was 2.81%
in the first quarter of 2021, compared to 3.41% in the first
quarter of 2020 and 2.91% in the fourth quarter of 2020. The linked
quarter decrease in net interest margin was primarily due to the
impact of the increase in deposits and corresponding increase in
cash balances.
The yield on loans in the first quarter of 2021
was 3.89%, a decrease of 88 basis points from the first quarter of
2020 and unchanged from the fourth quarter of 2020. Excluding the
PPP loans, the first quarter of 2021 loan yield was 3.83%, a
decrease of 3 basis points compared to the fourth quarter of
2020.
The cost of deposits in the first quarter of
2021 was 0.12%, a decrease of 63 basis points from the first
quarter of 2020 and a decrease of 4 basis points from the fourth
quarter of 2020. The cost of interest bearing deposits decreased 90
basis points to 0.19% from the first quarter of 2020, and decreased
6 basis points from the fourth quarter of 2020.
In the first quarter of 2021, we recorded a negative provision
for credit losses of $4.5 million compared to a provision for
credit losses of $8.1 million in the first quarter of 2020 and
$481,000 in the fourth quarter of 2020. The first quarter of 2021
provision for credit losses included a negative provision for loan
losses of $4.1 million and a negative provision for unfunded
commitments of $445,000.
Noninterest income totaled $3.6 million in the
first quarter of 2021 compared to $2.4 million in the first quarter
of 2020 and $3.0 million in the fourth quarter of 2020. Service
charge income in the first quarter of 2021 totaled $1.7 million, an
increase of $431,000 compared to the first quarter of 2020, and an
increase of $322,000 from the fourth quarter of 2020. The increase
in service charge income was primarily due to growth in our
payments, fintech and private capital solution businesses. SBA
income in the first quarter of 2021 totaled $1.2 million, compared
to $414,000 in the first quarter of 2020 and $1.0 million in the
fourth quarter of 2020. The increase was primarily from higher SBA
origination volume and higher SBA premiums in the secondary
market.
Noninterest expense totaled $15.1 million in the
first quarter of 2021, compared to $12.9 million in the first
quarter of 2020 and $13.2 million in the fourth quarter of 2020.
Salaries and employee benefits expense totaled $10.4 million in the
first quarter of 2021, an increase of $2.0 million compared to the
fourth quarter of 2020. Salaries and employee benefits expense in
the first quarter of 2021 included approximately a $700,000
seasonal increase in benefit costs and $255,000 in contract labor
expense for PPP round two loan processing. In addition, the first
quarter of 2021 included an increase in short-term and long-term
incentive costs, along with the partial impact of eight net new
hires and merit increases during the quarter. Professional services
expense in the first quarter totaled $922,000 and included
approximately $200,000 in consulting expense for PPP round two loan
processing and PPP round one loan forgiveness.
(1) Commentary is on a fully taxable-equivalent
basis unless otherwise noted. Consistent with SEC guidance in
Industry Guide 3 that contemplates the calculation of tax-exempt
income on a tax equivalent basis, net interest income and net
interest margin are provided on a fully taxable-equivalent basis,
which generally assumes a 21% marginal tax rate. We provide
detailed reconciliations in the Non-GAAP Performance and Financial
Measures Reconciliation table on page 12.
Balance Sheet
Total loans held for investment were $2.3
billion at March 31, 2021, an increase of $367.9 million, or 19%,
from March 31, 2020 and an increase of $51.8 million, or 9%
annualized, from December 31, 2020. PPP loans totaled $218.8
million at March 31, 2021, an increase of $26.6 million compared to
December 31, 2020, and included $72.8 million in new round two PPP
loans offset by $46.2 million in forgiven round one PPP loans.
The allowance for credit losses was 1.31% of
total loans held for investment at March 31, 2021, compared to
1.55% at December 31, 2020. The decrease in the allowance was a
result of an improvement in the new Current Expected Credit Losses,
or CECL economic forecast along with credit rating upgrades for
criticized and classified loans. Excluding the impact of PPP loans,
the allowance for credit losses at March 31, 2021 was 1.45%,
compared to 1.70% at December 31, 2020.
Total average deposits were $3.2 billion for the
first quarter of 2021, an increase of $902.4 million, or 40%, from
the first quarter of 2020 and an increase of $282.5 million, or 39%
annualized, from the fourth quarter of 2020. Average noninterest
bearing deposits were $1.1 billion for the first quarter of 2021,
an increase of $423.5 million, or 59%, from the first quarter of
2020 and an increase of $159.5 million, or 66% annualized, from the
fourth quarter of 2020. Noninterest bearing deposits were 36.0% of
total average deposits in the first quarter of 2021, compared to
31.6% in the first quarter of 2020 and 34.0% in the fourth quarter
of 2020.
Tangible common equity to tangible assets
decreased to 8.6% at March 31, 2021 compared to 8.9% at December
31, 2020, due to the impact from the first quarter growth in
deposits and its corresponding increase on the level of total
tangible assets. Cash and cash equivalents were $645.8 million and
total assets were $3.7 billion at March 31, 2021 compared to cash
and cash equivalents of $142.4 million and total assets of $2.7
billion at March 31, 2020.
Earnings Conference Call
Atlantic Capital will host a conference call at
1:00 p.m. ET on Friday, April 23, 2021, to discuss the financial
results for the quarter ended March 31, 2021. Individuals wishing
to participate in the conference call may do so by dialing
833-685-0902 from the United States. The call will also be
available live via webcast on the Investor Relations page of our
website, www.atlanticcapitalbank.com. A presentation will be used
during the earnings conference call and is available at
https://atlanticcapitalbank.q4ir.com/news-market-data/presentations/default.aspx.
Non-GAAP Financial Measures
Statements included in this press release
include non-GAAP financial measures and should be read along with
the accompanying tables, which provide a reconciliation of non-GAAP
financial measures to GAAP financial measures. Atlantic Capital
management uses non-GAAP financial measures, including: (i) taxable
equivalent interest income; (ii) taxable equivalent net interest
income; (iii) loan yield excluding PPP loans; (iv) taxable
equivalent net interest margin; (v) taxable equivalent net interest
margin excluding PPP loans; (vi) taxable equivalent income before
income taxes; (vii) taxable equivalent income tax expense; (viii)
tangible common equity to tangible assets; (ix) tangible book value
per common share, and (x) allowance for credit losses to loans held
for investment excluding PPP loans, in our analysis of the
Company's performance. Tangible common equity excludes goodwill
from shareholders' equity.
Management believes that non-GAAP financial
measures provide a greater understanding of ongoing performance and
operations and enhance comparability with prior periods. Non-GAAP
financial measures should not be considered as an alternative to
any measure of performance or financial condition as determined in
accordance with GAAP, and investors should consider Atlantic
Capital’s performance and financial condition as reported under
GAAP and all other relevant information when assessing the
performance or financial condition of the Company. Non-GAAP
financial measures have limitations as analytical tools, and
investors should not consider them in isolation or as a substitute
for analysis of the results or financial condition as reported
under GAAP. Non-GAAP financial measures may not be comparable to
non- GAAP financial measures presented by other companies.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements represent
plans, estimates, objectives, goals, guidelines, expectations,
intentions, projections and statements of our beliefs concerning
future events, business plans, objectives, expected operating
results and the assumptions upon which those statements are based.
Forward-looking statements include without limitation, any
statement that may predict, forecast, indicate or imply future
results, performance or achievements, and are typically identified
with words such as “may,” “could,” “should,” “will,” “would,”
“believe,” “anticipate,” “estimate,” “project,” “expect,” “intend,”
“plan,” “strive,” or words or phases of similar meaning.
Forward-looking statements may include, among other things,
statements about Atlantic Capital’s confidence in its strategies
and its expectations about financial performance, the impact of
COVID-19 on operations, market growth, market and regulatory trends
and developments, acquisitions and divestitures, new technologies,
services and opportunities and earnings. The forward-looking
statements are based largely on Atlantic Capital’s expectations and
are subject to a number of known and unknown risks and
uncertainties that are subject to change based on factors which
are, in many instances, beyond Atlantic Capital’s control. Atlantic
Capital undertakes no obligation to publicly update any
forward-looking statement to reflect developments occurring after
the statement is made, except as otherwise required by law. Actual
results, performance or achievements could differ materially from
those contemplated, expressed, or implied by the forward-looking
statements as a result of, among other factors, the risks and
uncertainties described in “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in Atlantic Capital’s Annual Report on Form 10-K.
Please refer to the SEC’s website at www.sec.gov where you can
review those documents.
About Atlantic Capital
Bancshares
Atlantic Capital Bancshares, Inc. is a $3.7
billion publicly traded bank holding company headquartered in
Atlanta, Georgia. Atlantic Capital offers commercial and
not-for-profit banking services, specialty corporate financial
services, private banking services and commercial real estate
finance solutions to privately held companies and individuals in
the Atlanta area, as well as payments and other specialized
financial services for select clients nationally.
Media Contact:Ashley CarsonEmail:
ashley.carson@atlcapbank.comPhone: 404-995-6050(ACB-ER)
Financial Contact:Patrick
OakesEmail: patrick.oakes@atlcapbank.comPhone: 404-995-6050
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Financial Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
First Quarter2021 |
|
(in thousands, except share and per share data; |
First |
|
Fourth |
|
Third |
|
Second |
|
First |
|
|
taxable equivalent) |
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
to 2020 |
|
INCOME SUMMARY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income - taxable equivalent (1) |
$ |
25,775 |
|
|
$ |
25,288 |
|
$ |
24,578 |
|
$ |
24,151 |
|
$ |
26,246 |
|
|
(2 |
) |
% |
Interest expense |
|
2,065 |
|
|
|
2,299 |
|
|
2,515 |
|
|
2,166 |
|
|
5,043 |
|
|
(59 |
) |
|
Net interest income - taxable equivalent |
|
23,710 |
|
|
|
22,989 |
|
|
22,063 |
|
|
21,985 |
|
|
21,203 |
|
|
12 |
|
|
Provision for credit losses |
|
(4,519 |
) |
|
|
481 |
|
|
28 |
|
|
8,863 |
|
|
8,074 |
|
|
(156 |
) |
|
Net interest income after provision for credit losses |
|
28,229 |
|
|
|
22,508 |
|
|
22,035 |
|
|
13,122 |
|
|
13,129 |
|
|
115 |
|
|
Noninterest income |
|
3,562 |
|
|
|
3,016 |
|
|
2,504 |
|
|
2,343 |
|
|
2,422 |
|
|
47 |
|
|
Noninterest expense |
|
15,149 |
|
|
|
13,164 |
|
|
13,713 |
|
|
12,904 |
|
|
12,877 |
|
|
18 |
|
|
Income before income taxes |
|
16,642 |
|
|
|
12,360 |
|
|
10,826 |
|
|
2,561 |
|
|
2,674 |
|
|
522 |
|
|
Income tax expense |
|
3,280 |
|
|
|
2,410 |
|
|
2,208 |
|
|
712 |
|
|
550 |
|
|
496 |
|
|
Net income(1)(2) |
$ |
13,362 |
|
|
$ |
9,950 |
|
$ |
8,618 |
|
$ |
1,849 |
|
$ |
2,124 |
|
|
529 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER SHARE DATA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share |
$ |
0.65 |
|
|
$ |
0.48 |
|
$ |
0.40 |
|
$ |
0.09 |
|
$ |
0.10 |
|
|
|
|
Book value per share |
|
16.72 |
|
|
|
16.60 |
|
|
16.05 |
|
|
15.64 |
|
|
15.47 |
|
|
|
|
Tangible book value per common share (2) |
|
15.74 |
|
|
|
15.62 |
|
|
15.11 |
|
|
14.72 |
|
|
14.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE MEASURES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average equity |
|
15.99 |
|
% |
|
11.68 |
% |
|
10.05 |
% |
|
2.20 |
% |
|
2.56 |
% |
|
Return on average assets |
|
1.50 |
|
|
|
1.19 |
|
|
1.15 |
|
|
0.25 |
|
|
0.32 |
|
|
|
|
Taxable equivalent net interest margin |
|
2.81 |
|
|
|
2.91 |
|
|
3.14 |
|
|
3.23 |
|
|
3.41 |
|
|
|
|
Taxable equivalent net interest margin excluding PPP loans |
|
2.70 |
|
|
|
2.81 |
|
|
3.18 |
|
|
3.35 |
|
|
3.41 |
|
|
|
|
Efficiency ratio |
|
56.30 |
|
|
|
51.30 |
|
|
56.61 |
|
|
53.82 |
|
|
55.03 |
|
|
|
|
Average loans to average deposits |
|
71.93 |
|
|
|
76.81 |
|
|
88.65 |
|
|
88.46 |
|
|
83.84 |
|
|
|
|
CAPITAL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average equity to average assets |
|
9.39 |
|
% |
|
10.18 |
% |
|
11.45 |
% |
|
11.53 |
% |
|
12.41 |
% |
|
Tangible common equity to tangible assets |
|
8.63 |
|
|
|
8.86 |
|
|
11.03 |
|
|
11.01 |
|
|
11.57 |
|
|
|
|
Leverage ratio |
|
8.4 |
|
(3) |
|
8.9 |
|
|
9.9 |
|
|
9.9 |
|
|
10.7 |
|
|
|
|
Total risk based capital ratio |
|
16.4 |
|
(3) |
|
16.1 |
|
|
16.9 |
|
|
14.8 |
|
|
14.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHARES OUTSTANDING |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of common shares outstanding - basic |
|
20,354,077 |
|
|
|
20,394,912 |
|
|
21,202,783 |
|
|
21,477,631 |
|
|
21,479,986 |
|
|
|
|
Number of common shares outstanding - diluted |
|
20,617,188 |
|
|
|
20,492,542 |
|
|
21,298,098 |
|
|
21,569,050 |
|
|
21,675,934 |
|
|
|
|
Average number of common shares - basic |
|
20,380,066 |
|
|
|
20,711,089 |
|
|
21,500,735 |
|
|
21,472,462 |
|
|
21,689,038 |
|
|
|
|
Average number of common shares - diluted |
|
20,502,184 |
|
|
|
20,795,332 |
|
|
21,543,805 |
|
|
21,535,040 |
|
|
21,842,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET QUALITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses to loans held for investment |
|
1.31 |
|
% |
|
1.55 |
% |
|
1.59 |
% |
|
1.61 |
% |
|
1.43 |
% |
|
Net charge-offs to average loans (4) |
|
0.04 |
|
|
|
0.05 |
|
|
0.06 |
|
|
0.29 |
|
|
0.04 |
|
|
|
|
Non-performing assets to total assets |
|
0.06 |
|
|
|
0.13 |
|
|
0.20 |
|
|
0.24 |
|
|
0.27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE BALANCES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans |
$ |
2,270,660 |
|
|
$ |
2,207,956 |
|
$ |
2,191,669 |
|
$ |
2,131,847 |
|
$ |
1,890,184 |
|
|
|
|
Investment securities |
|
579,547 |
|
|
|
491,134 |
|
|
453,382 |
|
|
462,850 |
|
|
417,971 |
|
|
|
|
Total assets |
|
3,611,417 |
|
|
|
3,328,719 |
|
|
2,977,444 |
|
|
2,932,716 |
|
|
2,686,266 |
|
|
|
|
Deposits |
|
3,156,906 |
|
|
|
2,874,402 |
|
|
2,472,218 |
|
|
2,409,958 |
|
|
2,254,505 |
|
|
|
|
Shareholders' equity |
|
338,990 |
|
|
|
338,948 |
|
|
341,017 |
|
|
338,027 |
|
|
333,480 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AT PERIOD END |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and loans held for sale |
$ |
2,302,661 |
|
|
$ |
2,249,036 |
|
$ |
2,188,894 |
|
$ |
2,185,847 |
|
$ |
1,932,909 |
|
|
|
|
Investment securities |
|
613,236 |
|
|
|
535,579 |
|
|
446,706 |
|
|
457,749 |
|
|
466,405 |
|
|
|
|
Total assets |
|
3,732,668 |
|
|
|
3,615,617 |
|
|
2,923,977 |
|
|
2,890,622 |
|
|
2,719,658 |
|
|
|
|
Deposits |
|
3,277,692 |
|
|
|
3,161,508 |
|
|
2,468,722 |
|
|
2,407,631 |
|
|
2,225,119 |
|
|
|
|
Shareholders’ equity |
|
340,328 |
|
|
|
338,586 |
|
|
340,309 |
|
|
335,980 |
|
|
332,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Interest income on tax-exempt securities has been increased to
reflect comparable interest on taxable securities. The rate used
was 21%, reflecting the statutory federal income tax rate. |
(2)Excludes effect of acquisition related intangibles. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3)Amounts are estimates as of March 31, 2021. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4)Annualized. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
Consolidated Balance Sheets (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
March 31, |
(in thousands, except share data) |
|
2021 |
|
2020 |
|
2020 |
ASSETS |
|
|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
32,850 |
|
|
$ |
16,865 |
|
|
$ |
27,536 |
|
Interest-bearing deposits in banks |
|
|
612,966 |
|
|
|
636,537 |
|
|
|
114,829 |
|
Cash and cash equivalents |
|
|
645,816 |
|
|
|
653,402 |
|
|
|
142,365 |
|
Investment securities available for sale |
|
|
390,701 |
|
|
|
335,423 |
|
|
|
280,390 |
|
Investment securities held to maturity, net of allowance for credit
losses of$14 at March 31, 2021, December 31, 2020 and March 31,
2020,respectively |
|
|
222,535 |
|
|
|
200,156 |
|
|
|
186,015 |
|
Other investments |
|
|
24,709 |
|
|
|
25,892 |
|
|
|
27,140 |
|
Loans held for sale |
|
|
1,847 |
|
|
|
— |
|
|
|
— |
|
Loans held for investment |
|
|
2,300,814 |
|
|
|
2,249,036 |
|
|
|
1,932,909 |
|
Less: allowance for loan losses |
|
|
(27,506 |
) |
|
|
(31,818 |
) |
|
|
(24,896 |
) |
Loans held for investment, net |
|
|
2,273,308 |
|
|
|
2,217,218 |
|
|
|
1,908,013 |
|
Premises and equipment, net |
|
|
20,633 |
|
|
|
21,589 |
|
|
|
22,533 |
|
Bank owned life insurance |
|
|
73,223 |
|
|
|
72,856 |
|
|
|
66,761 |
|
Goodwill |
|
|
19,925 |
|
|
|
19,925 |
|
|
|
19,925 |
|
Other intangibles, net |
|
|
2,688 |
|
|
|
2,731 |
|
|
|
2,785 |
|
Other real estate owned |
|
|
16 |
|
|
|
16 |
|
|
|
779 |
|
Other assets |
|
|
57,267 |
|
|
|
66,409 |
|
|
|
62,952 |
|
Total assets |
|
$ |
3,732,668 |
|
|
$ |
3,615,617 |
|
|
$ |
2,719,658 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
Noninterest-bearing demand |
|
$ |
1,280,524 |
|
|
$ |
1,033,765 |
|
|
$ |
712,919 |
|
Interest-bearing checking |
|
|
485,540 |
|
|
|
760,638 |
|
|
|
368,463 |
|
Savings |
|
|
562 |
|
|
|
625 |
|
|
|
567 |
|
Money market |
|
|
1,142,361 |
|
|
|
1,030,753 |
|
|
|
982,109 |
|
Time |
|
|
294,129 |
|
|
|
241,328 |
|
|
|
66,793 |
|
Brokered deposits |
|
|
74,576 |
|
|
|
94,399 |
|
|
|
94,268 |
|
Total deposits |
|
|
3,277,692 |
|
|
|
3,161,508 |
|
|
|
2,225,119 |
|
Federal funds purchased |
|
|
— |
|
|
|
— |
|
|
|
75,000 |
|
Long-term debt |
|
|
73,878 |
|
|
|
73,807 |
|
|
|
49,916 |
|
Other liabilities |
|
|
40,770 |
|
|
|
41,716 |
|
|
|
37,323 |
|
Total liabilities |
|
|
3,392,340 |
|
|
|
3,277,031 |
|
|
|
2,387,358 |
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Preferred stock, no par value; 10,000,000 shares authorized; no
sharesissued and outstanding as of March 31, 2021,
December 31, 2020 and March 31, 2020 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Common stock, no par value; 100,000,000 shares authorized;
20,354,077,20,394,912, and 21,479,986 shares issued and outstanding
as ofMarch 31, 2021, December 31, 2020 and
March 31, 2020, respectively |
|
|
207,047 |
|
|
|
209,942 |
|
|
|
224,233 |
|
Retained earnings |
|
|
127,499 |
|
|
|
114,137 |
|
|
|
93,721 |
|
Accumulated other comprehensive income |
|
|
5,782 |
|
|
|
14,507 |
|
|
|
14,346 |
|
Total shareholders’ equity |
|
|
340,328 |
|
|
|
338,586 |
|
|
|
332,300 |
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
$ |
3,732,668 |
|
|
$ |
3,615,617 |
|
|
$ |
2,719,658 |
|
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Statements of Income (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands, except share and per share data) |
|
Three months ended |
|
|
March 31, |
|
December 31, |
|
September 30, |
|
June 30, |
|
March 31, |
|
|
2021 |
|
2020 |
|
2020 |
|
2020 |
|
2020 |
INTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, including fees |
|
$ |
21,769 |
|
|
$ |
21,609 |
|
|
$ |
21,049 |
|
|
$ |
20,496 |
|
|
$ |
22,426 |
Investment securities |
|
|
3,374 |
|
|
|
3,000 |
|
|
|
2,910 |
|
|
|
3,041 |
|
|
|
2,732 |
Interest and dividends on other interest‑earning assets |
|
267 |
|
|
|
334 |
|
|
|
274 |
|
|
|
260 |
|
|
|
865 |
Total interest income |
|
|
25,410 |
|
|
|
24,943 |
|
|
|
24,233 |
|
|
|
23,797 |
|
|
|
26,023 |
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on deposits |
|
|
971 |
|
|
|
1,188 |
|
|
|
1,151 |
|
|
|
1,299 |
|
|
|
4,182 |
Interest on Federal Home Loan Bank advances |
|
|
— |
|
|
|
— |
|
|
|
16 |
|
|
|
38 |
|
|
|
— |
Interest on federal funds purchased and securities soldunder
agreements to repurchase |
|
|
— |
|
|
|
— |
|
|
|
3 |
|
|
|
6 |
|
|
|
32 |
Interest on long-term debt |
|
|
1,094 |
|
|
|
1,111 |
|
|
|
1,345 |
|
|
|
823 |
|
|
|
829 |
Total interest expense |
|
|
2,065 |
|
|
|
2,299 |
|
|
|
2,515 |
|
|
|
2,166 |
|
|
|
5,043 |
NET INTEREST INCOME BEFORE PROVISIONFOR CREDIT
LOSSES |
|
|
23,345 |
|
|
|
22,644 |
|
|
|
21,718 |
|
|
|
21,631 |
|
|
|
20,980 |
Provision for credit losses |
|
|
(4,519 |
) |
|
|
481 |
|
|
|
28 |
|
|
|
8,863 |
|
|
|
8,074 |
NET INTEREST INCOME AFTER PROVISIONFOR CREDIT
LOSSES |
|
|
27,864 |
|
|
|
22,163 |
|
|
|
21,690 |
|
|
|
12,768 |
|
|
|
12,906 |
NONINTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges |
|
|
1,663 |
|
|
|
1,341 |
|
|
|
1,217 |
|
|
|
1,081 |
|
|
|
1,232 |
Gains (losses) on sale of securities |
|
|
2 |
|
|
|
(23 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
(Losses) gains on sale of other assets |
|
|
— |
|
|
|
(6 |
) |
|
|
(145 |
) |
|
|
— |
|
|
|
5 |
Derivatives income (loss) |
|
|
47 |
|
|
|
11 |
|
|
|
10 |
|
|
|
(10 |
) |
|
|
246 |
Bank owned life insurance |
|
|
391 |
|
|
|
368 |
|
|
|
363 |
|
|
|
367 |
|
|
|
362 |
SBA lending activities |
|
|
1,225 |
|
|
|
1,015 |
|
|
|
893 |
|
|
|
782 |
|
|
|
414 |
Other noninterest income |
|
|
234 |
|
|
|
310 |
|
|
|
166 |
|
|
|
123 |
|
|
|
163 |
Total noninterest income |
|
|
3,562 |
|
|
|
3,016 |
|
|
|
2,504 |
|
|
|
2,343 |
|
|
|
2,422 |
NONINTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
|
|
10,421 |
|
|
|
8,437 |
|
|
|
8,850 |
|
|
|
8,466 |
|
|
|
8,476 |
Occupancy |
|
|
734 |
|
|
|
767 |
|
|
|
739 |
|
|
|
883 |
|
|
|
794 |
Equipment and software |
|
|
774 |
|
|
|
969 |
|
|
|
826 |
|
|
|
763 |
|
|
|
779 |
Professional services |
|
|
922 |
|
|
|
686 |
|
|
|
562 |
|
|
|
792 |
|
|
|
705 |
Communications and data processing |
|
|
792 |
|
|
|
789 |
|
|
|
757 |
|
|
|
670 |
|
|
|
897 |
Marketing and business development |
|
|
108 |
|
|
|
144 |
|
|
|
141 |
|
|
|
79 |
|
|
|
153 |
Travel, meals and entertainment |
|
|
10 |
|
|
|
14 |
|
|
|
39 |
|
|
|
34 |
|
|
|
140 |
FDIC premiums |
|
|
275 |
|
|
|
241 |
|
|
|
213 |
|
|
|
175 |
|
|
|
— |
Other noninterest expense |
|
|
1,113 |
|
|
|
1,117 |
|
|
|
1,586 |
|
|
|
1,042 |
|
|
|
933 |
Total noninterest expense |
|
|
15,149 |
|
|
|
13,164 |
|
|
|
13,713 |
|
|
|
12,904 |
|
|
|
12,877 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME BEFORE PROVISION FOR INCOMETAXES |
|
|
16,277 |
|
|
|
12,015 |
|
|
|
10,481 |
|
|
|
2,207 |
|
|
|
2,451 |
Provision for income taxes |
|
|
2,915 |
|
|
|
2,065 |
|
|
|
1,863 |
|
|
|
358 |
|
|
|
327 |
NET INCOME |
|
$ |
13,362 |
|
|
$ |
9,950 |
|
|
$ |
8,618 |
|
|
$ |
1,849 |
|
|
$ |
2,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per common share - basic |
|
$ |
0.66 |
|
|
$ |
0.48 |
|
|
$ |
0.40 |
|
|
$ |
0.09 |
|
|
$ |
0.10 |
Net income per common share - diluted |
|
$ |
0.65 |
|
|
$ |
0.48 |
|
|
$ |
0.40 |
|
|
$ |
0.09 |
|
|
$ |
0.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares - basic |
|
|
20,380,066 |
|
|
|
20,711,089 |
|
|
|
21,500,735 |
|
|
|
21,472,462 |
|
|
|
21,689,038 |
Weighted average shares - diluted |
|
|
20,502,184 |
|
|
|
20,795,332 |
|
|
|
21,543,805 |
|
|
|
21,535,040 |
|
|
|
21,842,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Balance Sheets and Net Interest Margin
Analysis |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Financial Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
|
|
March 31, 2021 |
|
|
December 31, 2020 |
|
|
|
|
|
|
Interest |
|
Tax |
|
|
|
|
Interest |
|
Tax |
|
|
|
|
Average |
|
Income/ |
|
Equivalent |
|
|
Average |
|
Income/ |
|
Equivalent |
|
|
(dollars in thousands; taxable equivalent) |
|
Balance |
|
Expense |
|
Yield/Rate |
|
|
Balance |
|
Expense |
|
Yield/Rate |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing deposits in other banks |
|
$ |
561,809 |
|
$ |
168 |
|
0.12 |
% |
$ |
435,939 |
|
$ |
141 |
|
0.13 |
% |
Investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable investment securities |
|
|
356,250 |
|
|
1,898 |
|
2.16 |
|
|
|
275,872 |
|
|
1,587 |
|
2.29 |
|
|
Non-taxable investment securities (1) |
|
|
223,297 |
|
|
1,841 |
|
3.34 |
|
|
|
215,262 |
|
|
1,758 |
|
3.25 |
|
|
Total investment securities |
|
|
579,547 |
|
|
3,739 |
|
2.62 |
|
|
|
491,134 |
|
|
3,345 |
|
2.71 |
|
|
Loans |
|
|
2,270,660 |
|
|
21,769 |
|
3.89 |
|
|
|
2,207,956 |
|
|
21,609 |
|
3.89 |
|
|
FHLB and FRB stock |
|
|
12,701 |
|
|
99 |
|
3.17 |
|
|
|
12,699 |
|
|
193 |
|
6.05 |
|
|
Total interest-earning assets |
|
|
3,424,717 |
|
|
25,775 |
|
3.05 |
|
|
|
3,147,728 |
|
|
25,288 |
|
3.20 |
|
|
Non-earning assets |
|
|
186,700 |
|
|
|
|
|
|
|
|
180,991 |
|
|
|
|
|
|
|
Total assets |
|
$ |
3,611,417 |
|
|
|
|
|
|
|
$ |
3,328,719 |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOW, money market, and savings |
|
|
1,662,097 |
|
|
834 |
|
0.20 |
|
|
|
1,585,928 |
|
|
1,043 |
|
0.26 |
|
|
Time deposits |
|
|
273,615 |
|
|
74 |
|
0.11 |
|
|
|
221,792 |
|
|
72 |
|
0.13 |
|
|
Brokered deposits |
|
|
84,663 |
|
|
63 |
|
0.30 |
|
|
|
89,673 |
|
|
73 |
|
0.32 |
|
|
Total interest-bearing deposits |
|
|
2,020,375 |
|
|
971 |
|
0.19 |
|
|
|
1,897,393 |
|
|
1,188 |
|
0.25 |
|
|
Total long-term debt |
|
|
73,830 |
|
|
1,094 |
|
6.01 |
|
|
|
73,811 |
|
|
1,111 |
|
5.99 |
|
|
Total interest-bearing liabilities |
|
|
2,094,205 |
|
|
2,065 |
|
0.40 |
|
|
|
1,971,204 |
|
|
2,299 |
|
0.46 |
|
|
Demand deposits |
|
|
1,136,531 |
|
|
|
|
|
|
|
|
977,009 |
|
|
|
|
|
|
|
Other liabilities |
|
|
41,691 |
|
|
|
|
|
|
|
|
41,558 |
|
|
|
|
|
|
|
Shareholders’ equity |
|
|
338,990 |
|
|
|
|
|
|
|
|
338,948 |
|
|
|
|
|
|
|
Total liabilities and shareholders’ equity |
|
$ |
3,611,417 |
|
|
|
|
|
|
|
$ |
3,328,719 |
|
|
|
|
|
|
|
Net interest spread |
|
|
|
|
|
|
|
2.65 |
% |
|
|
|
|
|
|
2.73 |
% |
Net interest income and net interest margin (2) |
|
|
|
|
$ |
23,710 |
|
2.81 |
% |
|
|
|
$ |
22,989 |
|
2.91 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-taxable equivalent net interest margin |
|
|
|
|
|
|
|
2.76 |
% |
|
|
|
|
|
|
2.86 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Interest revenue on tax-exempt securities has been increased to
reflect comparable interest on taxable securities. The rate used
was 21%, reflecting the statutory federal income tax rate. |
|
|
(2) Tax equivalent net interest income divided by total
interest-earning assets using the appropriate day count convention
based on the type of interest-earning asset. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
|
|
March 31, 2021 |
|
|
March 31, 2020 |
|
|
|
|
|
|
Interest |
|
Tax |
|
|
|
|
Interest |
|
Tax |
|
|
|
|
Average |
|
Income/ |
|
Equivalent |
|
|
Average |
|
Income/ |
|
Equivalent |
|
|
(dollars in thousands; taxable equivalent) |
|
Balance |
|
Expense |
|
Yield/Rate |
|
|
Balance |
|
Expense |
|
Yield/Rate |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing deposits in other banks |
|
$ |
561,809 |
|
$ |
168 |
|
0.12 |
% |
$ |
177,063 |
|
$ |
668 |
|
1.52 |
% |
Other short-term investments |
|
|
— |
|
|
— |
|
— |
|
|
|
110 |
|
|
— |
|
— |
|
|
Investment securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable investment securities |
|
|
356,250 |
|
|
1,898 |
|
2.16 |
|
|
|
253,937 |
|
|
1,680 |
|
2.66 |
|
|
Non-taxable investment securities (1) |
|
|
223,297 |
|
|
1,841 |
|
3.34 |
|
|
|
164,034 |
|
|
1,275 |
|
3.13 |
|
|
Total investment securities |
|
|
579,547 |
|
|
3,739 |
|
2.62 |
|
|
|
417,971 |
|
|
2,955 |
|
2.84 |
|
|
Loans |
|
|
2,270,660 |
|
|
21,769 |
|
3.89 |
|
|
|
1,890,184 |
|
|
22,426 |
|
4.77 |
|
|
FHLB and FRB stock |
|
|
12,701 |
|
|
99 |
|
3.17 |
|
|
|
12,678 |
|
|
197 |
|
6.25 |
|
|
Total interest-earning assets |
|
|
3,424,717 |
|
|
25,775 |
|
3.05 |
|
|
|
2,498,006 |
|
|
26,246 |
|
4.23 |
|
|
Non-earning assets |
|
|
186,700 |
|
|
|
|
|
|
|
|
188,260 |
|
|
|
|
|
|
|
Total assets |
|
$ |
3,611,417 |
|
|
|
|
|
|
|
$ |
2,686,266 |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest bearing deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOW, money market, and savings |
|
|
1,662,097 |
|
|
834 |
|
0.20 |
|
|
|
1,393,541 |
|
|
3,767 |
|
1.09 |
|
|
Time deposits |
|
|
273,615 |
|
|
74 |
|
0.11 |
|
|
|
55,775 |
|
|
52 |
|
0.37 |
|
|
Brokered deposits |
|
|
84,663 |
|
|
63 |
|
0.30 |
|
|
|
92,188 |
|
|
363 |
|
1.58 |
|
|
Total interest-bearing deposits |
|
|
2,020,375 |
|
|
971 |
|
0.19 |
|
|
|
1,541,504 |
|
|
4,182 |
|
1.09 |
|
|
Total borrowings |
|
|
— |
|
|
— |
|
— |
|
|
|
11,703 |
|
|
32 |
|
1.10 |
|
|
Total long-term debt |
|
|
73,830 |
|
|
1,094 |
|
6.01 |
|
|
|
49,888 |
|
|
829 |
|
6.68 |
|
|
Total interest-bearing liabilities |
|
|
2,094,205 |
|
|
2,065 |
|
0.40 |
|
|
|
1,603,095 |
|
|
5,043 |
|
1.27 |
|
|
Demand deposits |
|
|
1,136,531 |
|
|
|
|
|
|
|
|
713,001 |
|
|
|
|
|
|
|
Other liabilities |
|
|
41,691 |
|
|
|
|
|
|
|
|
36,690 |
|
|
|
|
|
|
|
Shareholders’ equity |
|
|
338,990 |
|
|
|
|
|
|
|
|
333,480 |
|
|
|
|
|
|
|
Total liabilities and shareholders’ equity |
|
$ |
3,611,417 |
|
|
|
|
|
|
|
$ |
2,686,266 |
|
|
|
|
|
|
|
Net interest spread |
|
|
|
|
|
|
|
2.65 |
% |
|
|
|
|
|
|
2.96 |
% |
Net interest income and net interest margin (2) |
|
|
|
|
$ |
23,710 |
|
2.81 |
% |
|
|
|
$ |
21,203 |
|
3.41 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-taxable equivalent net interest margin |
|
|
|
|
|
|
|
2.76 |
% |
|
|
|
|
|
|
3.38 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Interest revenue on tax-exempt securities has been increased to
reflect comparable interest on taxable securities. The rate used
was 21%, reflecting the statutory federal income tax rate. |
|
(2) Tax equivalent net interest income divided by total
interest-earning assets using the appropriate day count convention
based on the type of interest-earning asset. |
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period End Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Linked |
|
Year Over |
|
|
March 31, |
|
December 31, |
|
September 30, |
|
June 30, |
|
March 31, |
|
Quarter |
|
Year |
(dollars in thousands) |
|
2021 |
|
2020 |
|
2020 |
|
2020 |
|
2020 |
|
Change |
|
Change |
Loans held for sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans held for sale |
|
$ |
1,847 |
|
|
$ |
— |
|
|
$ |
859 |
|
|
$ |
1,153 |
|
|
$ |
— |
|
|
$ |
1,847 |
|
|
$ |
1,847 |
|
Total loans held for sale |
|
$ |
1,847 |
|
|
$ |
— |
|
|
$ |
859 |
|
|
$ |
1,153 |
|
|
$ |
— |
|
|
$ |
1,847 |
|
|
$ |
1,847 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans held for investment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial - other |
|
$ |
735,287 |
|
|
$ |
760,645 |
|
|
$ |
712,567 |
|
|
$ |
739,769 |
|
|
$ |
760,062 |
|
|
$ |
(25,358 |
) |
|
$ |
(24,775 |
) |
Commercial and industrial - PPP |
|
|
218,766 |
|
|
|
192,160 |
|
|
|
231,834 |
|
|
|
234,049 |
|
|
|
— |
|
|
|
26,606 |
|
|
|
218,766 |
|
Commercial real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multifamily |
|
|
80,507 |
|
|
|
66,262 |
|
|
|
58,336 |
|
|
|
58,909 |
|
|
|
73,654 |
|
|
|
14,245 |
|
|
|
6,853 |
|
Owner occupied |
|
|
381,018 |
|
|
|
373,689 |
|
|
|
364,170 |
|
|
|
366,847 |
|
|
|
359,026 |
|
|
|
7,329 |
|
|
|
21,992 |
|
Investment |
|
|
480,566 |
|
|
|
469,150 |
|
|
|
458,279 |
|
|
|
474,565 |
|
|
|
477,451 |
|
|
|
11,416 |
|
|
|
3,115 |
|
Construction and land: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1‑4 family residential construction |
|
|
1,578 |
|
|
|
1,171 |
|
|
|
— |
|
|
|
11 |
|
|
|
2,706 |
|
|
|
407 |
|
|
|
(1,128 |
) |
Other construction, development, and land |
|
|
141,218 |
|
|
|
144,424 |
|
|
|
139,836 |
|
|
|
128,980 |
|
|
|
124,116 |
|
|
|
(3,206 |
) |
|
|
17,102 |
|
Total commercial loans |
|
|
2,038,940 |
|
|
|
2,007,501 |
|
|
|
1,965,022 |
|
|
|
2,003,130 |
|
|
|
1,797,015 |
|
|
|
31,439 |
|
|
|
241,925 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential mortgages |
|
|
31,817 |
|
|
|
33,783 |
|
|
|
29,460 |
|
|
|
32,327 |
|
|
|
31,761 |
|
|
|
(1,966 |
) |
|
|
56 |
|
Home equity |
|
|
26,293 |
|
|
|
25,443 |
|
|
|
24,528 |
|
|
|
23,689 |
|
|
|
23,479 |
|
|
|
850 |
|
|
|
2,814 |
|
Total residential loans |
|
|
58,110 |
|
|
|
59,226 |
|
|
|
53,988 |
|
|
|
56,016 |
|
|
|
55,240 |
|
|
|
(1,116 |
) |
|
|
2,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
203,176 |
|
|
|
176,066 |
|
|
|
154,916 |
|
|
|
113,149 |
|
|
|
58,164 |
|
|
|
27,110 |
|
|
|
145,012 |
|
Other |
|
|
7,689 |
|
|
|
13,897 |
|
|
|
22,777 |
|
|
|
22,160 |
|
|
|
25,488 |
|
|
|
(6,208 |
) |
|
|
(17,799 |
) |
|
|
|
2,307,915 |
|
|
|
2,256,690 |
|
|
|
2,196,703 |
|
|
|
2,194,455 |
|
|
|
1,935,907 |
|
|
|
51,225 |
|
|
|
372,008 |
|
Less net deferred fees and other unearned income |
|
|
(7,101 |
) |
|
|
(7,654 |
) |
|
|
(8,668 |
) |
|
|
(9,761 |
) |
|
|
(2,998 |
) |
|
|
553 |
|
|
|
(4,103 |
) |
Total loans held for investment |
|
$ |
2,300,814 |
|
|
$ |
2,249,036 |
|
|
$ |
2,188,035 |
|
|
$ |
2,184,694 |
|
|
$ |
1,932,909 |
|
|
$ |
51,778 |
|
|
$ |
367,905 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans |
|
$ |
2,302,661 |
|
|
$ |
2,249,036 |
|
|
$ |
2,188,894 |
|
|
$ |
2,185,847 |
|
|
$ |
1,932,909 |
|
|
$ |
53,625 |
|
|
$ |
369,752 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total unfunded commitments |
|
$ |
789,869 |
|
|
$ |
813,757 |
|
|
$ |
764,247 |
|
|
$ |
749,321 |
|
|
$ |
689,620 |
|
|
$ |
(23,888 |
) |
|
$ |
100,249 |
|
|
|
|
|
|
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for Credit Losses Activity and Credit
Quality |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
|
First |
|
Fourth |
|
Third |
|
Second |
|
First |
(dollars in thousands) |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
Allowance for loan losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
$ |
31,818 |
|
|
$ |
31,894 |
|
|
$ |
31,605 |
|
|
$ |
24,896 |
|
|
$ |
18,535 |
|
|
Adoption of ASU 2016-13 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(854 |
) |
|
Provision for loan losses |
|
|
(4,074 |
) |
|
|
225 |
|
|
|
636 |
|
|
|
8,222 |
|
|
|
7,409 |
|
|
Loans charged-off: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
(288 |
) |
|
|
(401 |
) |
|
|
(404 |
) |
|
|
(1,479 |
) |
|
|
(18 |
) |
|
Commercial real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(78 |
) |
|
Construction and land |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Residential mortgages |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(36 |
) |
|
|
— |
|
|
Home equity |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(125 |
) |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Other |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Total loans charged-off |
|
|
(288 |
) |
|
|
(401 |
) |
|
|
(404 |
) |
|
|
(1,515 |
) |
|
|
(221 |
) |
|
Recoveries on loans previously charged-off: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial |
|
|
50 |
|
|
|
37 |
|
|
|
56 |
|
|
|
1 |
|
|
|
— |
|
|
Commercial real estate |
|
|
— |
|
|
|
44 |
|
|
|
— |
|
|
|
— |
|
|
|
18 |
|
|
Construction and land |
|
|
— |
|
|
|
18 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Residential mortgages |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
Home equity |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Consumer |
|
|
— |
|
|
|
1 |
|
|
|
1 |
|
|
|
1 |
|
|
|
8 |
|
|
Other |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Total recoveries |
|
|
50 |
|
|
|
100 |
|
|
|
57 |
|
|
|
2 |
|
|
|
27 |
|
|
Net charge-offs |
|
$ |
(238 |
) |
|
$ |
(301 |
) |
|
$ |
(347 |
) |
|
$ |
(1,513 |
) |
|
$ |
(194 |
) |
|
Balance at period end |
|
$ |
27,506 |
|
|
$ |
31,818 |
|
|
$ |
31,894 |
|
|
$ |
31,605 |
|
|
$ |
24,896 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for unfunded commitments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
|
$ |
3,128 |
|
|
$ |
2,871 |
|
|
$ |
3,480 |
|
|
$ |
2,838 |
|
|
$ |
892 |
|
|
Adoption of ASU 2016-13 |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,275 |
|
|
Provision for unfunded commitments |
|
|
(445 |
) |
|
|
257 |
|
|
|
(609 |
) |
|
|
642 |
|
|
|
671 |
|
|
Balance at period end |
|
$ |
2,683 |
|
|
$ |
3,128 |
|
|
$ |
2,871 |
|
|
$ |
3,480 |
|
|
$ |
2,838 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total allowance for credit losses - loans and unfunded
commitments |
|
$ |
30,189 |
|
|
$ |
34,946 |
|
|
$ |
34,765 |
|
|
$ |
35,085 |
|
|
$ |
27,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for credit losses under CECL |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan losses |
|
|
(4,074 |
) |
|
|
225 |
|
|
|
636 |
|
|
|
8,222 |
|
|
|
7,409 |
|
|
Provision for securities held to maturity credit losses |
|
|
- |
|
|
|
(1 |
) |
|
|
1 |
|
|
|
(1 |
) |
|
|
(6 |
) |
|
Provision for unfunded commitments |
|
|
(445 |
) |
|
|
257 |
|
|
|
(609 |
) |
|
|
642 |
|
|
|
671 |
|
|
Total provision for credit losses |
|
$ |
(4,519 |
) |
|
$ |
481 |
|
|
$ |
28 |
|
|
$ |
8,863 |
|
|
$ |
8,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-performing loans |
|
$ |
2,056 |
|
|
$ |
4,862 |
|
|
$ |
5,421 |
|
|
$ |
6,265 |
|
|
$ |
6,515 |
|
|
Foreclosed properties (OREO) |
|
|
16 |
|
|
|
16 |
|
|
|
563 |
|
|
|
779 |
|
|
|
779 |
|
|
Total nonperforming assets |
|
$ |
2,072 |
|
|
$ |
4,878 |
|
|
$ |
5,984 |
|
|
$ |
7,044 |
|
|
$ |
7,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan losses to loans held for investment |
|
|
1.20 |
|
% |
|
1.41 |
|
% |
|
1.46 |
|
% |
|
1.45 |
|
% |
|
1.29 |
|
% |
Allowance for credit losses to loans held for investment |
|
|
1.31 |
|
% |
|
1.55 |
|
% |
|
1.59 |
|
% |
|
1.61 |
|
% |
|
1.43 |
|
% |
Allowance for credit losses to loans held for investment excluding
PPP loans |
|
|
1.45 |
|
% |
1.70 |
|
% |
1.78 |
|
% |
1.80 |
|
% |
1.43 |
|
% |
Net charge-offs to average loans (1) |
|
|
0.04 |
|
|
|
0.05 |
|
|
|
0.06 |
|
|
|
0.29 |
|
|
|
0.04 |
|
|
Non-performing loans as a percentage of total loans |
|
|
0.09 |
|
% |
|
0.22 |
|
% |
|
0.25 |
|
% |
|
0.29 |
|
% |
|
0.34 |
|
% |
Non-performing assets as a percentage of total assets |
|
|
0.06 |
|
% |
|
0.13 |
|
% |
|
0.20 |
|
% |
|
0.24 |
|
% |
|
0.27 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Annualized. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period End Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Linked |
|
|
|
|
March 31, |
|
December 31, |
|
September 30, |
|
June 30, |
|
March 31, |
|
Quarter |
|
Year Over |
(dollars in thousands) |
|
2021 |
|
2020 |
|
2020 |
|
2020 |
|
2020 |
|
Change |
|
Year Change |
DDA |
|
$ |
1,280,524 |
|
$ |
1,033,765 |
|
$ |
843,656 |
|
$ |
883,662 |
|
$ |
712,919 |
|
$ |
246,759 |
|
|
$ |
567,605 |
|
NOW |
|
|
485,540 |
|
|
760,638 |
|
|
387,858 |
|
|
449,737 |
|
|
368,463 |
|
|
(275,098 |
) |
|
|
117,077 |
|
Savings |
|
|
562 |
|
|
625 |
|
|
568 |
|
|
583 |
|
|
567 |
|
|
(63 |
) |
|
|
(5 |
) |
Money market |
|
|
1,142,361 |
|
|
1,030,753 |
|
|
945,834 |
|
|
879,863 |
|
|
982,109 |
|
|
111,608 |
|
|
|
160,252 |
|
Time |
|
|
294,129 |
|
|
241,328 |
|
|
196,343 |
|
|
131,353 |
|
|
66,793 |
|
|
52,801 |
|
|
|
227,336 |
|
Brokered |
|
|
74,576 |
|
|
94,399 |
|
|
94,463 |
|
|
62,433 |
|
|
94,268 |
|
|
(19,823 |
) |
|
|
(19,692 |
) |
Total deposits |
|
$ |
3,277,692 |
|
$ |
3,161,508 |
|
$ |
2,468,722 |
|
$ |
2,407,631 |
|
$ |
2,225,119 |
|
$ |
116,184 |
|
|
$ |
1,052,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
Linked |
|
|
|
|
First |
|
Fourth |
|
Third |
|
Second |
|
First |
|
Quarter |
|
Q1 2021 vs |
(dollars in thousands) |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
Change |
|
Q1 2020 |
DDA |
|
$ |
1,136,531 |
|
$ |
977,009 |
|
$ |
854,715 |
|
$ |
815,299 |
|
$ |
713,001 |
|
$ |
159,522 |
|
|
$ |
423,530 |
|
NOW |
|
|
618,701 |
|
|
558,967 |
|
|
440,734 |
|
|
462,051 |
|
|
382,178 |
|
|
59,734 |
|
|
|
236,523 |
|
Savings |
|
|
587 |
|
|
614 |
|
|
586 |
|
|
574 |
|
|
650 |
|
|
(27 |
) |
|
|
(63 |
) |
Money market |
|
|
1,042,809 |
|
|
1,026,347 |
|
|
942,062 |
|
|
952,444 |
|
|
1,010,713 |
|
|
16,462 |
|
|
|
32,096 |
|
Time |
|
|
273,615 |
|
|
221,792 |
|
|
166,019 |
|
|
96,362 |
|
|
55,775 |
|
|
51,823 |
|
|
|
217,840 |
|
Brokered |
|
|
84,663 |
|
|
89,673 |
|
|
68,102 |
|
|
83,228 |
|
|
92,188 |
|
|
(5,010 |
) |
|
|
(7,525 |
) |
Total deposits |
|
$ |
3,156,906 |
|
$ |
2,874,402 |
|
$ |
2,472,218 |
|
$ |
2,409,958 |
|
$ |
2,254,505 |
|
$ |
282,504 |
|
|
$ |
902,401 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest bearing deposits as a percentage of average
deposits |
|
|
36.0 |
% |
|
34.0 |
% |
|
34.6 |
% |
|
33.8 |
% |
|
31.6 |
% |
|
|
|
|
|
Cost of interest-bearing deposits |
|
|
0.19 |
% |
0.25 |
% |
0.28 |
% |
0.33 |
% |
1.09 |
% |
|
|
|
|
Cost of deposits |
|
|
0.12 |
% |
|
0.16 |
% |
|
0.19 |
% |
|
0.22 |
% |
|
0.75 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATLANTIC CAPITAL BANCSHARES, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Performance and Financial Measures
Reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
|
First |
|
Fourth |
|
Third |
|
Second |
|
First |
|
(in thousands, except share and per share data) |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
Quarter |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable equivalent interest income
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income - GAAP |
|
$ |
25,410 |
|
|
$ |
24,943 |
|
|
$ |
24,233 |
|
|
$ |
23,797 |
|
|
$ |
26,023 |
|
|
Taxable equivalent adjustment |
|
|
365 |
|
|
|
345 |
|
|
|
345 |
|
|
|
354 |
|
|
|
223 |
|
|
Interest income - taxable equivalent |
|
$ |
25,775 |
|
|
$ |
25,288 |
|
|
$ |
24,578 |
|
|
$ |
24,151 |
|
|
$ |
26,246 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable equivalent net interest income
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income - GAAP |
|
$ |
23,345 |
|
|
$ |
22,644 |
|
|
$ |
21,718 |
|
|
$ |
21,631 |
|
|
$ |
20,980 |
|
|
Taxable equivalent adjustment |
|
|
365 |
|
|
|
345 |
|
|
|
345 |
|
|
|
354 |
|
|
|
223 |
|
|
Net interest income - taxable equivalent |
|
$ |
23,710 |
|
|
$ |
22,989 |
|
|
$ |
22,063 |
|
|
$ |
21,985 |
|
|
$ |
21,203 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan yield excluding PPP loans reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loan yield - GAAP |
|
|
3.89 |
|
% |
3.89 |
|
% |
3.82 |
|
% |
3.87 |
|
% |
4.77 |
|
% |
Impact of PPP loans |
|
|
(0.06 |
) |
|
|
(0.03 |
) |
|
|
0.13 |
|
|
|
0.22 |
|
|
|
— |
|
|
Loan yield excluding PPP loans |
|
|
3.83 |
|
% |
3.86 |
|
% |
3.95 |
|
% |
4.09 |
|
% |
4.77 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable equivalent net interest margin
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest margin - GAAP |
|
|
2.76 |
|
% |
|
2.86 |
|
% |
|
3.09 |
|
% |
|
3.17 |
|
% |
|
3.38 |
|
% |
Impact of taxable equivalent adjustment |
|
|
0.05 |
|
|
|
0.05 |
|
|
|
0.05 |
|
|
|
0.06 |
|
|
|
0.03 |
|
|
Net interest margin - taxable equivalent |
|
|
2.81 |
|
% |
|
2.91 |
|
% |
|
3.14 |
|
% |
|
3.23 |
|
% |
|
3.41 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable equivalent net interest margin excluding PPP loans
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest margin - taxable equivalent |
|
|
2.81 |
|
% |
|
2.91 |
|
% |
|
3.14 |
|
% |
|
3.23 |
|
% |
|
3.41 |
|
% |
Impact of PPP loans |
|
|
(0.11 |
) |
|
|
(0.10 |
) |
|
|
0.04 |
|
|
|
0.12 |
|
|
|
— |
|
|
Net interest margin - taxable equivalent excluding PPP
loans |
|
|
2.70 |
|
% |
|
2.81 |
|
% |
|
3.18 |
|
% |
|
3.35 |
|
% |
|
3.41 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable equivalent income before income taxes
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes - GAAP |
|
$ |
16,277 |
|
|
$ |
12,015 |
|
|
$ |
10,481 |
|
|
$ |
2,207 |
|
|
$ |
2,451 |
|
|
Taxable equivalent adjustment |
|
|
365 |
|
|
|
345 |
|
|
|
345 |
|
|
|
354 |
|
|
|
223 |
|
|
Income before income taxes |
|
$ |
16,642 |
|
|
$ |
12,360 |
|
|
$ |
10,826 |
|
|
$ |
2,561 |
|
|
$ |
2,674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxable equivalent income tax expense
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense - GAAP |
|
$ |
2,915 |
|
|
$ |
2,065 |
|
|
$ |
1,863 |
|
|
$ |
358 |
|
|
$ |
327 |
|
|
Taxable equivalent adjustment |
|
|
365 |
|
|
|
345 |
|
|
|
345 |
|
|
|
354 |
|
|
|
223 |
|
|
Income tax expense |
|
$ |
3,280 |
|
|
$ |
2,410 |
|
|
$ |
2,208 |
|
|
$ |
712 |
|
|
$ |
550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible book value per common share
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity |
|
$ |
340,328 |
|
|
$ |
338,586 |
|
|
$ |
340,309 |
|
|
$ |
335,980 |
|
|
$ |
332,300 |
|
|
Intangible assets |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
Total tangible common equity |
|
$ |
320,403 |
|
|
$ |
318,661 |
|
|
$ |
320,384 |
|
|
$ |
316,055 |
|
|
$ |
312,375 |
|
|
Common shares outstanding |
|
|
20,354,077 |
|
|
|
20,394,912 |
|
|
|
21,202,783 |
|
|
|
21,477,631 |
|
|
|
21,479,986 |
|
|
Book value per common share - GAAP |
|
$ |
16.72 |
|
|
$ |
16.60 |
|
|
$ |
16.05 |
|
|
$ |
15.64 |
|
|
$ |
15.47 |
|
|
Tangible book value |
|
|
15.74 |
|
|
|
15.62 |
|
|
|
15.11 |
|
|
|
14.72 |
|
|
|
14.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible common equity to tangible assets
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity |
|
$ |
340,328 |
|
|
$ |
338,586 |
|
|
$ |
340,309 |
|
|
$ |
335,980 |
|
|
$ |
332,300 |
|
|
Intangible assets |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
Total tangible common equity |
|
$ |
320,403 |
|
|
$ |
318,661 |
|
|
$ |
320,384 |
|
|
$ |
316,055 |
|
|
$ |
312,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
3,732,668 |
|
|
$ |
3,615,617 |
|
|
$ |
2,923,977 |
|
|
$ |
2,890,622 |
|
|
$ |
2,719,658 |
|
|
Intangible assets |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
|
(19,925 |
) |
|
Total tangible assets |
|
$ |
3,712,743 |
|
|
$ |
3,595,692 |
|
|
$ |
2,904,052 |
|
|
$ |
2,870,697 |
|
|
$ |
2,699,733 |
|
|
Tangible common equity to tangible assets |
|
|
8.63 |
|
% |
|
8.86 |
|
% |
|
11.03 |
|
% |
|
11.01 |
|
% |
|
11.57 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses to loans held for investment
reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans held for investment |
|
$ |
2,300,814 |
|
|
$ |
2,249,036 |
|
|
$ |
2,188,035 |
|
|
$ |
2,184,694 |
|
|
$ |
1,932,909 |
|
|
PPP loans |
|
|
(218,766 |
) |
|
|
(192,160 |
) |
|
|
(231,834 |
) |
|
|
(234,049 |
) |
|
|
— |
|
|
Total loans held for investment excluding PPP loans |
|
$ |
2,082,048 |
|
|
$ |
2,056,876 |
|
|
$ |
1,956,201 |
|
|
$ |
1,950,645 |
|
|
$ |
1,932,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses to loans held for investment |
|
|
1.31 |
|
% |
1.55 |
|
% |
1.59 |
|
% |
1.61 |
|
% |
1.43 |
|
% |
Allowance for credit losses to loans held for investment excluding
PPP loans |
|
|
1.45 |
|
% |
1.70 |
|
% |
1.78 |
|
% |
1.80 |
|
% |
1.43 |
|
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Atlantic Capital Bancsha... (NASDAQ:ACBI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Atlantic Capital Bancsha... (NASDAQ:ACBI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024