Tristate Capital (TSC) Tops Q1 EPS by 1c, Slight Miss on Revenues

Tristate Capital (NASDAQ: TSC) reported Q1 EPS of $0.36, $0.01 better than the analyst estimate of $0.35. Revenue for the quarter came in at $37.3 million versus the consensus estimate of $37.7 million.

FIRST QUARTER 2018 HIGHLIGHTS

• Pre-tax income grew to a record $13.3 million, increasing 21.8% from the year-ago period and 3.3% from the linked quarter
• Net interest income grew to a record $26.3 million, up 25.6% from the year-ago period and 5.9% from the linked quarter, reflecting an increase in average loans of 20.8% from the year-ago period and 4.5% from the linked quarter
• Total loans grew to a record $4.30 billion at period end, up 21.6% from March 31, 2017 and 2.8% during the quarter
• Total deposits grew to a record $4.10 billion at period end, up 23.5% from March 31, 2017 and 2.8% during the quarter
• Chartwell assets under management rose to more than $9 billion following the acquisition of $1.06 billion of institutional client assets from Columbia Partners in April 2018

REVENUE GROWTH

• TriState Capital’s record total revenue of $37.3 million in the first quarter 2018 grew 15.5% from $32.3 million in the same period last year and 1.3% from $36.9 million in the fourth quarter of 2017.

For earnings history and earnings-related data on Tristate Capital (TSC) click here.

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