"Our first quarter results reflect continued strength in our balance sheet, as we continued to add quality loan growth while maintaining strong liquidity and capital, even in the midst of a unique quarter for the banking industry," remarked Dan Rollins, Chairman and CEO of the company. "Additionally, our strong capital and earnings allowed us the flexibility to capitalize on the rate environment by executing a balance sheet optimization transaction that, while creating an upfront loss on the sale, will result in incremental 2023 earnings for the Company. Given the late-quarter industry volatility, we proactively added on-balance sheet liquidity in addition to our significant off-balance sheet liquidity availability. Notably, however, our core deposit base showed little change during this period, a testament to the granularity of our deposits, the diversity of our customer base by both business mix and geography, and the strength of our bankers and their continuous focus on our customers."
Published first on TheFly
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