CapStar Financial Holdings, Inc. Announces Completion of $10 Million Common Stock Repurchase Authorization and $20 Million New Authorization
25 Mayo 2023 - 6:18PM
CapStar Financial Holdings, Inc. (“CapStar”) (NASDAQ: CSTR), the
parent company of CapStar Bank, announced today that it has
completed its $10 million share purchase authorization on May 25,
2023. Within this authorization, the Company purchased 692,000
shares for an average price of $14.42. Since February 1, 2022, the
Company repurchased 1,348,000 or 6% of total common shares
outstanding.
Additionally, the board of directors authorized a new
authorization to repurchase up to $20 million of the Company’s
outstanding common stock. In the current operating environment, the
Company intends to maintain above industry capital levels with
target Tangible Common Equity to Tangible Assets and Common Equity
Tier 1 capital ratios of 8.5% and 12.0% respectively. The
repurchase authorization will be in place until January 31,
2024.
The Company will conduct any repurchases through open market
purchases, including by means of a trading plan adopted under SEC
Rule 10b5-1, or privately negotiated transactions, subject to
market conditions and other factors. There is no guarantee as to
the exact number of shares that the Company may repurchase.
About CapStar Financial Holdings, Inc. CapStar
Financial Holdings, Inc. is a bank holding company headquartered in
Nashville, Tennessee and operates primarily through its wholly
owned subsidiary, CapStar Bank, a Tennessee-chartered state bank.
CapStar Bank is a commercial bank that seeks to establish and
maintain comprehensive relationships with its clients by delivering
customized and creative banking solutions and superior client
service. As of March 31, 2023, on a consolidated basis, CapStar had
total assets of $3.2 billion, total loans of $2.4 billion, total
deposits of $2.8 billion, and shareholders’ equity of $353.9
million. Visit www.capstarbank.com for more information.
CONTACT:Mike Fowler, (615) 732-7404Chief
Financial Officer
CapStar Financial (NASDAQ:CSTR)
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