Investment Thesis
TriState Capital Holdings (NASDAQ:TSC) is a regional bank with an impressive growth trajectory. What makes TSC unique is its focus (and ability) to grow earnings organically, as opposed to focusing on the net interest spread between its assets and liabilities. In fact, TSC markets itself as “interest-rate neutral”, as 92% of its loans are variable and 94% of its deposits are variable. Therefore, TSC increases shareholder value by growing its loan portfolio in an aggressive, yet cost-efficient manner.
TSC’s stock price over the past couple of years has reflected said earnings