CSTR - CapStar Financial GAAP EPS of $0.30 misses by $0.10 revenue of $29.5M misses by $1.18M

2023-04-21 02:22:15 ET

• CapStar Financial press release ( NASDAQ: CSTR ): Q1 GAAP EPS of $0.30 misses by $0.10 .
• Revenue of $29.5M (-2.4% Y/Y) misses by $1.18M .
• Annualized return on average assets and return on average equity for the quarter ended March 31, 2023 was 0.83% and 7.41%, respectively.
• The net interest margin decreased 20 basis points from the prior quarter to 3.24%.
• The efficiency ratio was 64.60% for the quarter ended March 31, 2023 and 53.23% for the quarter ended December 31, 2022.
• The provision for credit losses for first quarter totaled $2.4 million compared to $1.5 million in the fourth quarter of 2022.
• The allowance for credit losses related to loans increased to 1.05% as of March 31, 2023 compared to 1.03% as of December 31, 2022.
• Book value per share of common stock as of March 31, 2023 was $16.57 while tangible book value per share of common stock was $14.43 as of March 31, 2023 compared to $14.19 and $14.49 for the quarters ended December 31, 2022 and March 31, 2022.

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