ACBI - Earnings call transcript Q1 2019 | Atlantic Capital Bancshares, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Ashley Carson

Thank you, all, for joining us for Atlantic Capital's First Quarter 2019 Earnings Conference Call. With me today to discuss our results are Doug Williams, Chief Executive Officer; Patrick Oakes, Chief Financial Officer; and Greg Fleming, Chief Risk Officer.

As a reminder, the Atlantic Capital earnings release is available on the Investor Relations section of our website. I wish to caution you that we will be making forward-looking statements during this call and that actual results may differ materially. We encourage you to review the disclaimer in the earnings release dealing with forward-looking information. to in equally call. applies disclaimer statements this made This

be to may measures. reconciliation In with SEC that, may over release. discussions Williams. the our our references and to in non-GAAP in filings measures, I'll including addition, some Doug And measures, CEO include of financial earnings Capital, our those Information GAAP call turn found to about Atlantic

Doug Williams

and good morning. Ashley, you, Thank

sustained strategic momentum through We and improvement are strong pleased operations of to from a and period transition. report continuing profit

know, and you divestiture and our on commercial As the in completed we of on market banking X centered engaged Atlanta retail the national XX lines and and pursuing of offices mortgage strategy our our are April Northwest business. business now fully in refined Tennessee Georgia, on

quarter, XX% income million, of XXXX. operations was first increase the share the per year-over-year. up earnings continuing net were first $X.X from from $X.XX, Fully quarter XX% a For diluted

and were and strong and and multifamily and year-over-year of fourth loans the First annualized Commercial the Average quarter X% to in progress included quality, in prime warehouse, included first quarter. quarter first XXXX. the demand operations XXXX Loans from real and the X.XX% increased deposits of estate the that quarter from XXXX of from share interest X(a) margin grew continuing XXXX. SBA The accounts, noninterest-bearing and in X% credit investors, the loans continuing XX% rate. the transaction the Average LIBOR Tennessee deposits, corresponding rate and increases industrial includes funds quarter velocity, charge-offs X.XX% quality XX% held up XXXX XX XXXX were industrial of XX% remains and of and X.XX% a total net deposits Net were month fourth total account our annualized floor basis the continuing expanded quarter operations of of at particularly highlights from were fourth Atlantic loan included deposit first one legacy XX of from Capital of in a the the from federal a excluding quarter in approximately flat operations including of $X.X repurchase best-in-class. of decreased first noninterest-bearing year-over-year in were expansion, construction sound XXXX. charge-off loans, now as increases increased in basis mortgage deposits XX% interest the result in to year-over-year investment, from net up Average of repayment year-over-year and of in quarter program. XXXX quarter from collateralized in among process margin due sustained, and and category. $XXX,XXX average for collection. XX% momentum quarter-end XX% to loan. deposits. the at commercial XX% Loans balances, fourth Credit were loans and fully a assets Nonperforming points were million points from

priorities repurchases more total balance $XX.XX financials Oakes price of million you, the X.X at of November, outlook of talk we average an million. details to the discusses we the per and about quarter, our $XX.X of $XX $XX.X at the shares After our the turn million year. XXX,XXX or share. an in I'll a buy During price Pat to authorization with for repurchased spent Since average million share shares announced $XX.XX we've last

Patrick Oakes

Doug. Thanks

Let net interest with margin. the in me improvement our start

by and investment to of with increase short-term primarily earning increase interest basis quarter basis one quarter two basis compared result X.XX%, X first basis fourth to X.XX% but money along operations XXXX. FHLB fewer increasing another to month continuing interest in in of a as impacted days rates an quarter rates Net for the quarter, compared first points a assets in in an of XX securities. the borrowings by to to the in point quarter. market expanded LIBOR income negatively fourth helped interest-bearing liabilities. fourth XX our quarter increase of XX compared first increases to were in reduction quarter We during a X.XX%. the yields to an from points the in the Higher Loan were was X led from increase in compared compared Our points first fourth The margin margin the on basis increased quarter, XX% quarter. deposits points the costs to benefited prior yield interest-bearing of the

increase Our higher funded last quarter result after increases adding process to $XXX,XXX $X.X the the the prior the million in of mentioned a using in X.XX%. loss This mix primarily mix increase few remain our decrease primarily of as by of further the and increase balance adding to in believe new second income payment continuing over current million to earlier. fourth of the of from in of million, quarters. is anticipate rates an decrease. potential production and the $XXX,XXX in has totaled The loan recently after cash quarter government next Fed loss quarter loans. operations result excess the SBA on $XXX,XXX operations payment the continuing $XXX margin to a quarter approximate deposits short-term to overall in in XX quarter. The our We $X.X first prudent deposit shutdown sale to of a We're and in overall of positions first borrowings and sheet years. increased lower magnitude We in SBA credit and rates from it a gradually the issuing valuation impact now Noninterest portfolio. brokered the from from began of of to from will deposit the of branch improved over margin forecasting limit the SBA but securities, the range asset-sensitive each cash rates FHLB in a SBA the compared fund the to our improvement points increase interest divestiture. anticipate and $X.X branch cost the quarter benefited during on began sell on will trends. the We market fund fund customer's range begin selling reflected by feel second normalize a few an the depend the income quarter, I run and Derivative protection still We ability issuing rates cash, had deposits. limited The rate our hedges to sale will X.XX% the impact and conditions swap LIBOR is prior the investment X.XX% be than million in income margin. securities as adjustment income. purchasing yield our this is basis

included the the in than for This the will The of higher approximately first approximately sale $X remaining most than expenses quarter balance branch and We for These increase, $XX.X estimate assumes total new the of impact included be quarter. second benefit new normal. $XX.X with million. compared our expense seasonally run in should effective are finalized be the typically this our higher Noninterest comfortable will quarter, medical $XXX,XXX our tax not million million, expense the still in a branch XX% million, that related quarter of operations bankers and $XX which XXX(k) in First This increase sale. the of an discontinuing be the rate quarter, in $XX from branch quarter intangible to million by benefit a increase totaled increase offices was guidance gain the be the approximately hiring sheet. which with higher The on payroll expense of expenses to in for numbers in $XX fourth to of Atlanta. anticipate second the more booking and continuing to XXXX tax on repeated approximately end sale. year, XX% should expense, majority addition of quarter. the operations. included fourth $X.X of was accounted goodwill impairments rate million the unrelated the million. second expense insurance We're higher the includes and severance the taxes, quarterly Higher

I Doug. turn to back it Now over will

Doug Williams

Thank Pat. you,

divestiture in our management call these our in invest January, quality. Tennessee the and During two, northwest growth relationships; best-in-class businesses; services-based asset business; building we national Atlanta of treasury focus and by shared Georgia for complete four, and three, you: our with on deposit XXXX commercial capacity maintain one, priorities growth

our share We initiatives, management also expect capital repurchases. continue to including

As our on Tennessee we mentioned April of completed we the I and northwest operations Georgia and earlier, reported X. divestiture

in markets is over significance years where Company. divestiture its that marks enormous dollars value to a energy, and the material further book we the our While Atlanta quarter, capital is been and of we several have gain the is pivot businesses a the expense successful opportunity there consistently of real build over ranked in metropolitan population Atlanta estimated ninth more of the business population XXXX U.S. and and fourth largest a than second toward where in from it and an will metropolitan of creation markets ranked and States product growth X.X through XX in million growth United that the with expected XXX,XXX market in second the XXXX. Among top enterprises $XXX domestic in job billion. XXXX

scheduled deal Atlanta’s consummated close business we mergers announced to Atlanta's fall. become recently will hometown only publicly Atlanta several and advertise SunTrust this banking BB&T largest and With the held Capital company as now the bank.

commercial pace. lines Our of at a to grow business continue rapid national

growing lines volume to excess XXst credit May, XX% growth in exceed consistently have in senior year. last per senior We're are the $XXX our and management oriented lenders of the dollar top We're in is investing Atlantic Origination. Our we bankers SBA as Georgia banking and sales and lender this the will and Xa over largest ranks million treasury officer new and of now year. and finance deposit to By added filled expected loans now and new treasury financial officer. capacity and banking nation's year commercial of have by a the in grow positions Franchise opening XX% by ACH middle ranked Atlanta technology national business adding and payments of XX% open XXth offices. one business Capital eight in

year-end the management revenue to With retirements net support We're more course these from of and at XX over and of XX expand performance bankers bankers anticipating team the actions expected in our and actively of recruiting new professionals year. attrition. adding bankers will producing

strong. with pleased single-digit Athens this for year. for equip plans prospects Our treasury opportunity in our loan Buckhead loan opened Their the business in into in new battle We're estate their investors. Exchange client you and growth offices in performance mid-teens January not-for-profit the our deposit with in platforms Community banking Cobb loans strong open call, for growth deposit enterprises flat Capital guided to next. ACE comparisons Atlanta's of anticipate commercial down and year. They're remains next-generation year growth our the will to percentage well and highly loan about the modestly for for later balance and Core we loans borrowing of and this or a rest this high County solid percentages our indicated to real Atlantic growth continued production to office month with and commercial an last management In performance depository our confident corporate clients. and operating in capability bankers competitive Treasury business. ACE

curve. increases and yield net Our margin rate a with X.X% interest without flat of X.XX% to

Our but quarterly the was quarter. year. of assets to in in post This first expense be rather a the rate for specific and was the guidance of company half million second our fourth is not the average quarters return of basis noisy what run XXX and expected for points and second $XX.X and to divestiture on results

with pipelines Our quarter expense believe and business exceed was consistent credit disciplined and sound we and these broadly our in quality progress expectations perhaps meet will first management objectives. with we the new solid

Now we'll questions. be happy to answer your

are for ready questions, We operator.

Operator

from from question KBW. the Woody first of Lay Instructions] [Operator comes line Your

open. Your is line

Woody Lay

the could and then So have temporary we deposit looking they growth thought seasonal had inflows spiked shrinkage ago did quarter. last this I more deposits quarters than some this some think would've two quarter. accounts even Based on next some you more see at shrunk quarter? Do deposit could you

Patrick Oakes

Yes.

in thought So but the we first seasonal of think that we half quite coming see as in I didn’t the some much year quarter yes first the see the but quarter. decreases, in typically second is

those I'll not surprised be of some So the leave in deposits quarter. to second see

Doug Williams

Before building and in quarter. the third fourth

Patrick Oakes

Absolutely.

Doug Williams

our that's normal Yes pattern.

Woody Lay

Is there to loans ratio targeting? a long-term deposit you're

Patrick Oakes

down in preferably begin divestiture. that. much keep below work it Obviously there it from If We'd it will not to to increase like with be difficult the but to mid-XXs. will the get and it

Woody Lay

that mentioned for some than so the XX Right disruption see then think more we okay. And With quarter last Atlanta bankers. May you guided in I hiring expected hires hiring that to you eight planned even XX upside have number? to market could initially you’ll

Doug Williams

and and add good don't people Could year. with may what's pleased our be, support I That get very the hire we're not as the is professionals hard far. number or We be may and in making progress is bankers we it good for to but so we recruiting people the looking we'll this key budget may very exceed our can recruiting going we're but we're we're see, actively into and very we're right and recruiting. is We're hiring. to high-quality actively opportunistic. and there bringing will as We're many we think XX company, appropriate think we we

Operator

comes line with Sandler the Stephen of next Scouten Your from question O'Neill.

line is open. Your

Stephen Scouten

coming get get to So I think on starting to little expense light I still that in $XX.X right million How still like there, sounds guess million. a of $XX.X is get do XQ potentially quarter? I wanted the for we online guess kind but stay to number maybe detail this of kind hires like feeling beaten more that the of even $XX.X guess guidance I million there it I new XXXX and already point the are you're

Patrick Oakes

high. so Yeah was $XX.X million the

these it's with expenses it come as So come all the that's new with not could definitely to going down addition as one-time to much bankers. of going but down

and down So see line of coming and some were trough could probably occupancy benefit equipment then are you obviously expenses of other down and going to $X,XXX. coming selling up dollars. And couple the go thousand like

So, XX.X get and out you kind million or roughly to so. of the net you that

Stephen Scouten

$X.X number? some significant excess million XXX,XXX of still salaries there's kind that So or of XXX,XXX in

Patrick Oakes

the mainly in Yes benefits line.

Stephen Scouten

of a versus dynamics loan guess growth C&I the talk now? of what you front? right kind more CRE what about the can And national I more kind of versus bit playing Atlanta Kind little on seeing you're versus maybe stuff are

Doug Williams

quarter the We growth we down flat slightly we Strong better anticipated. did first had that bit a you was C&I Yes to in and little to soft guided than as which commercial in estate sort activity is sustained now. there. repayment trend plus quarter first We of over $XX had really over of the years three activity repayment a in a lot real million actually.

growth continued us and much under at it's estate have has in the digits how this real quarter in And we've And in solid. loans I very we they C&I see although year. guidance second the to commercial iterate of behind businesses that early we'll we'll growth don’t but second and single some The too deposit the commitments point see of the the we'll that's given the in we'll balance Some quarter. the we fund Atlanta prognosticate second this solid think really both sort second business in loan see term rest you the into growth quarter construction think pipelines in again look of high fundings our over and national and quarter. some

Stephen Scouten

And then just last me. thing for

to pace buyback might know the to come? think some that in of and limited forth. and you complete of But the I anticipate that's the how quarters shares you the just On you be volume by much so do or the do able of and

Patrick Oakes

we'd I see the second saw least would think probably in going the at at quarter. the in first level quarter you here something forward

Operator

from Demba Your SunTrust. next of question of line comes the Jennifer

Your line open. is

Jennifer Demba

just on Question give that was nonaccrual. industry in? us on information that Can little went on the loan a you what SBA

Doug Williams

take like that. I'll Fleming Yes Gray

Gray Fleming

the winter. news think a that the in on we capital process Southeast. the was working liquidating was that well Hi, on jobs we good commercial collateral. we're working a there really there the that and commercial during of secured and And management But focuses gathering Jennifer, wet issue that contractor in are is

Doug Williams

have we And guarantee. a SBA

Jennifer Demba

You're provisioning Can underlying talk terms asset going quality of you forward going just loan here? in have you do growth think to but what thinking you're what trends? about

Gray Fleming

they're seen low. blip very an expense and little standpoint in still non-performs from as think I charge-offs a we well you've had

couple little over of you'll that mentioned our And a around Q that criticized numbers are loans down so for the bit total make bounce but in a quarter. see those of loans Doug

Our down. are past dues

negative is but charge-offs We’ll not really fairly portfolios any of said those remain as We SBA so those loans have of in lot is we're our just business world. of around that part some them in some some and seeing mature the just the a trends do some to we that quarterly So because And important they're to numbers. strategy. and expect small. see Yes expect bouncing in criticized Jennifer small numbers an small. lending grow

Doug Williams

And minus the implementation year expect of X% around of to over prior or the we CECL. would maintain plus the reserve of to balance a

Operator

from next line Nancy the Bush Your question comes Research. of with NAB

open. is line Your

Nancy Bush

kind of expenses prospects this This is cetera. and of et the goes everybody et fits And I conference very to calls all whole for it issue quarter excited this business back the in and to listening investments new guess together. how cetera, hiring about

how to - So you is this a going new are development.

So for may and be to of [indiscernible]? the are expenses and turbulent to whatever how may you be control going vary out need what there sort investments balance opportunities

Doug Williams

environment opportunistic. would to can't question and good think that do great and where take importantly we hire most I say we're a of We're it's Yes bankers that. going we the advantage

we're and maintain making along flexibility what the we there, particularly number of fourth that, high-quality XX lot in out I of we're But expect hiring indicated to the satisfactory pursuing Pat We we're has also us have third do think bankers our quarters. lines and of of this a progress. a gives that discipline good and do lot budget in a lot expense

Atlanta good received enterprise prominent of non-profit we'll certainly other you That a about Atlanta's that's deposit a progress. lot relationship to think got employment the hearing but those us. will and and seven-figure on recruiting is market. only morning a lot credit to we word we be in eight-figure business business make opportunities. to their we We're pipeline institutions. relationship. very just bank. have believe activity We of in clients banker loyalties And who we aware I Atlanta this tell think satisfactory bankers questioning going best the continue a their that attractive we're all are the of historic area really the proposition solid I We're hometown kind of moving

Nancy Bush

is you issue the assumption have quarter. discuss Second first kind Fed could been in that this off the question now sometimes betas I Atlanta is different. just know but quieted of mean the of that the is has I backed betas

you issue would just could if So that discuss that great? be

Patrick Oakes

at now. I rates. rates less. We're we think also. less clients higher back we're from asking I point for the becoming get our with at the away calls of end this become it can phone getting a But that Hopefully lot think And still

to things we're the get quarter Lot level Who see. So hoping knows of off second we'll competition. right from really to here. hopefully and

Operator

the Your next G. Steven from with of Research. question comes line Comery

open. is line Your

Steven Comery

to on what book end for of I come you and you but QX puts of the all expect and Just gains of expectation have to losses? at kind an and takes this, us out on intangibles value with changes closing of the the sort pull the of to have on tangible thanks kind be gain there. some do to and of want right just the

Patrick Oakes

Yes.

the that over So a because tangible book acquisition But if the $X. probably in value. it's thinking go lot just I little moving you're parts think, over of of obviously there's

Steven Comery

up? $X a Okay

Patrick Oakes

Yes.

Steven Comery

that? on Okay. And top of would then be earnings

Patrick Oakes

around changes that. top that. less on than buyback move Earnings OCI it of Obviously any is Yes. also. in Any can

divestiture lot pieces $X. moving over is the little a So there's probably a of Isolating

Steven Comery

there? kind good the of and on a the there pay at was loan it on book, downs then construction there's and like there, any color at color looking going looking And isolated kind just of type of looks systemic so increase what's and just was and in there any kind there pretty also any of multi-family

Gary Fleming

our on construction side ups construction estate was under side, the lending. primarily real fund On the loans. we're multi-family to And very the due commercial selective multi-family in that existing

small was timing-wise size so for a of have decent sale And And quarter opportunities. number first we of terms fairly good quarter in just those loans. developers

real had in good liquidity due seeing we new in do. fewer loan payoffs of area, but acquisition payoff the commercial the what sales that balances are some to to typical properties, the large So puts but nothing the those keep estate portfolio developers and with activity we trends, permanent in so that intending markets

Doug Williams

And we those to be loans make repaid.

Steven Comery

me, more if may. Just one for I

the it payment XXX,XXX associated looks you closing. this with guys NIM cash that of maintain like mostly because So of the range, deal kind guidance,

because So guys and we come down I'm of are borrowings we kind mean could security If of back refund increased that? should it those deposits comes if just kind kind think borrowings I of How time? to wondering that here. with over about sales you able NIM see of

Patrick Oakes

Yes possibly.

have card. deposit rate I think the wild here. that increase we bigger off and they is That's the risk think more level don't we than

there's So helps margin also that. you're obviously but right. with it our can deposits, If risk we core grow only

So…

Doug Williams

that add good operating as years growth had going track record we've of now shows corporate demand account. several businesses a deposit and up I'd

bank now. growth, growth good solid So double-digit years the deposits over several in double-digit percentage

we've they in the we're we clients got that So bankers now the where like got we arena. that quality, we competitive got and got good we deliver service capability, we very to - their are feel product think expertise

Operator

[Operator Wallace James. Instructions] William line comes Raymond question Your the with from of next

Your line is open.

William Wallace

One, the close? cash payment, that has occurred

Patrick Oakes

Yes.

William Wallace

cash? cash much did Excess hand how on you use? So

Patrick Oakes

Right? a lot. thing. is balance this cash daily around a moves Look Our

So luckily a lot happened of at the deposits. we time had this excess

our deposits able second securities a there's mainly and lot about a and of bit some little excess in in to use cash Like some quarter. of borrowings. the earlier, sell we were seasonality obviously talked we So

leave we of But to it's and through be this…. will fund that increase things things go borrowings we will we’ll to quarter. the as mix a restructure going those and do So the

Doug Williams

assets earning of down end the no But day to assets the are assuming come earning million? going $XXX in your growth

Patrick Oakes

they could. come The that. will I to than going a not are assets lot earnings down earning come wish down the more assets $XXX. Well

in assets only I you’ll possible do broker as portion of it a can through 's deposits is coming see think we much I'd like still to much working that. earning what We're borrowings. as so and shrink there. good but it's

William Wallace

And rate some the the the from interest then continue trying are the balance that? to you given position position? a you're assume assets Fed, hedges you are mentioned the up LIBOR and you're trying to outlook putting of going that since to sheet you change I current to achieve neutral do

Patrick Oakes

get but if think That profitability that to will I quite trying get neutral. would be its much neutral We're a rates to obviously we're other going evidence to is impact to the trying impact Look don't have to and significant among factors. pricing asset out. we, factoring amount sensitive It's as a lessen as bit. drop under possible. as

Doug Williams

It's a market difficult to hedge.

Patrick Oakes

Yes.

William Wallace

believe million buyback to initial had reset to then target you the get achieve had And on to the Okay. - Board $XX you approval? correct I a

Doug Williams

No. We approval. don't need Board

Patrick Oakes

of... the to $XX And authorization. company from last paid We dividend year the bank a have we holding an million

Doug Williams

$XX million?

Patrick Oakes

$XX million. have the some we And company. cash at holding

pay dividend to capacity banks. the additional have also the from We

We had are calculating of what of repurchase that we've pace the maintain that needs be so sort far. activity share to

Doug Williams

require approval we'll regulators. from And

about think I additional… So to what that do you're thinking

-William Wallace

Yes, approval. before you to get that wanted deal you close the

Doug Williams

yes. correct That's

William Wallace

Yes.

keep in if it? the approval a buying where it $XX you've So gets the been assuming you'd stocks million-or-so ideally the around quarter like level to range

Doug Williams

million will $XX that in probably it's so mean, buyback. higher range that I to Yes

William Wallace

to much this And you do got quarter? that enough

Patrick Oakes

big as a big that, not deal this conversations We've about deal. cash having that's a Yes. SEC I which to not worked mean down we've we'll been is have balance. get approval

Operator

question FIG comes from next line Partners. Christopher with Your the of Marinac

Your is open. line

Christopher Marinac

balance. on - continuing Pat points? double want sort two operations. truly or three the just DDA of in to basis your quarter Again cost-to-deposits only Is waiting from linked check up the it large about

Patrick Oakes

to DDA basis XX it basis including So up basis to up cost points. points it XXX to was operations, the XX cost was continuing - - from basically the for deposits overall points

Christopher Marinac

and I'll go check my math. Thanks the... for back double

Patrick Oakes

a release the numbers right at Page page. of XX bottom the press the of there's

Christopher Marinac

my deposit it So, other question which mix. leads was

forward mix substantially the completed you sort will the changing the to we see or out you future? months XX similar have that six in continue Now look going banks have could to of and transaction

Doug Williams

mix? Deposit

Christopher Marinac

Yes.

Doug Williams

what Didn’t saying quite hear Chris. you're

Christopher Marinac

Doug, Yes, deposit mix it was sorry.

Doug Williams

Yes.

very I stable. think it's been

we've total continuing or and operations or and percent at we've a with you been noninterest-bearing transaction forth XX deposit demand deposits - look If better so accounts deposits in with the percent been been restated plus total. demand of of that percent the numbers as mid-XXs

DDA I that We out And is of are some resilient fact not corporate that's a think seeing. very that our this peers haven't seen rate and of of the operating is the reflection particularly migration and business sensitive.

Christopher Marinac

do beyond what is? look if clients beyond sustainability of in the what treasury already you new and your just above Doug you see you bring opportunities any the to pipeline I'm corporate in pipeline at curious future terms the have.

Doug Williams

months. how disruption the perhaps feel the very of the Atlanta think We'll the the few I we some develops over and pipeline sustainability see confident next in that about market that offer upside that. to

Operator

next the of line with comes Bush NAV Nancy question from Your Research.

open. is line Your

Nancy Bush

one Just follow-up.

Buckhead? new we and County opened back Could about the just You so to talked Wales the and openings. Athens office were come has Cobb go office already remark that to

Doug Williams

another office Yes, Buckhead. in

summer So County production this sometime. office loan month. will we branch open last office Athens opened the Cobb

Now Atlanta of issues like fall on but the will branch making be sometime we're those all the City based so and Buckhead in it's on connecting projects. good in progress the forth

Patrick Oakes

We signed just build-out a lease locations in in now phase. the both

Nancy Bush

Okay.

office? they or Now what Or a sort mean I these sort an they look template - staff do are like? differently for is of of there

Doug Williams

It's toward a is for Buckhead clients. in really branch bankers. our oriented Athens soon Street there there three four in service of serve will today. the we clients, Well of floor limited has location prominent accessible second Athens. banking almost kind office different. Cobb And in even be production The believe the loan branch toward branch private it's building very bankers is a or a Buckhead think on banking is Semi-Residential in We The then that private clients. and commercial

Operator

are further conference at in There time. presenters. back no this I'll our queue to questions turn the over

Doug Williams

We dialing in right. all you All appreciate today.

operations encourage quarter. on lot analyst are and accounting to sale-side There models. with and are first transaction we mix in questions conversations discontinued the their particularly as and of transition second of a the we the of work know sort course Of we complexities

So please you have. call to us Look comments forward for for any Thanks in. you you. dialing to talking or might questions

Operator

today's conference concludes This call.

You may now disconnect.

Atlantic Capital Bancshares (ACBI) 26 Apr 192019 Q1 Earnings call transcript