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Cbtx, Inc. (CBTX) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

SEC Filings

Cbtx, Inc.

CIK: 1473844 Ticker: CBTX

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Exhibit 99.1

CBTX, Inc. Reports Second Quarter Financial Results

Houston, Texas, July 29, 2020 -- CBTX, Inc., or the Company (NASDAQ: CBTX), the bank holding company for CommunityBank of Texas, N.A., or the Bank, today announced net income of $2.2 million, or $0.09 per diluted share, for the quarter ended June 30, 2020, compared to $7.5 million, or $0.30 per diluted share, for the quarter ended March 31, 2020 and $14.3 million, or $0.57 per diluted share, for the quarter ended June 30, 2019.

“I am proud to work every day beside the great CommunityBank of Texas family,” said Robert R. Franklin, Jr., Chairman, CEO and President of the Company. “Our focus remains on our customer base and the communities we serve. We continue to operate in an unprecedented time related to the COVID-19 pandemic and the fog it has created over our daily activities and economies.”

“We believe in the resiliency of our customer base and the communities in which we operate,” Mr. Franklin continued. “We also know how to get through crises. Our team is experienced and many of the same tools we have used in the past are important to help with the outcomes from the pandemic. We persist in our efforts to work to keep our employees safe with internal controls around social distancing, sanitizing and making work from home solutions available when possible.”

“Many of our customers are back to work and finding their own solutions to the problems created by the pandemic.   Our requests from customers for deferrals continues to decline, and the over 2,000 PPP loans we made last quarter have helped our customers through these unprecedented times.” said Mr. Franklin.

“While our customers and team are resilient and moving forward, we believe that it will be several months before we can more clearly see the effects of the shut-down of our economy, both at a local and national level,” Mr. Franklin said.  “We are also monitoring the slowdown of the oil and gas industry and the new normal that the industry will operate under as we go forward.”

“We continued to add to our provision for loan losses during the second quarter primarily because of the general uncertainty created in our markets. We believe that our reserve build and our continued strong capital position gives us the stability we need to continue to work with our customers in these tough times,” Mr. Franklin added. “We believe that CBTX, Inc. will emerge from this crisis strong and able to pursue any opportunities that may arise.”

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The following information was filed by Cbtx, Inc. (CBTX) on Wednesday, July 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Changes In Shareholders Equity (Unaudited)
Condensed Consolidated Statements Of Changes In Shareholders Equity (Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited)
Allowance For Credit Losses
Allowance For Credit Losses (Details)
Allowance For Credit Losses (Tables)
Allowance For Credit Losses - Activity In The Total Acl For Loans (Details)
Allowance For Credit Losses - Allowance For Credit Losses For Unfunded Commitments (Details)
Allowance For Credit Losses - Charge-Offs And Recoveries By Loan Class And Vintage (Details)
Allowance For Credit Losses - Loans By Risk Grades And Loan Class (Details)
Allowance For Credit Losses - Loans By Risk Grades, Loan Class And Vintage (Details)
Allowance For Credit Losses - Loans Individually Evaluated And Collectively Evaluated (Details)
Allowance For Credit Losses - Recorded Investment In Impaired Loans In Accordance With Asc 310 (Details)
Allowance For Loan Losses - Acl For Loans By Loan Class (Details)
Bank Owned Life Insurance
Bank Owned Life Insurance (Details)
Bank Owned Life Insurance (Tables)
Commitments And Contingencies And Financial Instruments With Off-Balance-Sheet Risk
Commitments And Contingencies And Financial Instruments With Off-Balance-Sheet Risk (Details)
Commitments And Contingencies And Financial Instruments With Off-Balance-Sheet Risk (Tables)
Deposits
Deposits (Details)
Deposits (Tables)
Deposits - Schedule Of Maturities Of Time Deposits (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Details)
Derivative Financial Instruments (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans And Deferred Compensation Arrangements
Employee Benefit Plans And Deferred Compensation Arrangements (Details)
Equity Investments
Equity Investments (Tables)
Equity Investments - Equity Investments (Details)
Fair Value Disclosures
Fair Value Disclosures (Tables)
Fair Value Disclosures - Certain Assets Measured On A Non Recurring Basis (Details)
Fair Value Disclosures - Fair Market Values Of All Financial Instruments (Details)
Fair Value Disclosures - Financial Assets And Financial Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Disclosures - Non Financial Assets And Non Financial Liabilities (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details)
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Servicing Assets (Details)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Lines Of Credit
Lines Of Credit (Details)
Lines Of Credit (Tables)
Lines Of Credit - Maturity And Federal Funds Lines Of Credit (Details)
Loan Performance
Loan Performance (Tables)
Loan Performance - Aging Analysis Of Loan Past Due (Details)
Loan Performance - Covid-19 (Details)
Loan Performance - Nonaccrual Loans, Segregated By Loan Class (Details)
Loan Performance - Outstanding Troubled Debt Restructurings And Other Loans Individually Evaluated (Details)
Loan Performance - Troubled Debt Restructurings Due To Borrower's Financial Difficulties (Details)
Loans
Loans (Tables)
Loans - By Portfolio Segment (Details)
Loans - Loan Participations Purchased And Sold And Loans Guaranteed (Details)
Operating Leases
Operating Leases (Details)
Operating Leases (Tables)
Operating Leases - Lease Costs (Details)
Operating Leases - Maturity Of Operating Lease Liabilities (Details)
Premises And Equipment
Premises And Equipment (Tables)
Premises And Equipment - Components Of Premises And Equipment (Details)
Regulatory Matters
Regulatory Matters (Tables)
Regulatory Matters - Regulatory Capital (Details)
Related Party Transactions
Related Party Transactions (Details)
Securities
Securities (Tables)
Securities - Amortized Cost And Estimated Fair Values Of Investments In Securities (Details)
Securities - Amortized Cost And Estimated Fair Values Of Securities By Contractual Maturities (Details)
Securities - Securities Carrying Amount (Details)
Securities - Securities With Unrealized Losses (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Restricted Stock Activity (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Stock-Based Compensation - Summary Of Restricted Stock (Details)
Stock-Based Compensation - Summary Of Stock Options (Details)
Stock-Based Compensation - Summary Of Stock Options Exercised, Restricted Stock Vested, Shares Withheld And Shares Issued (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Accounting Standards Recently Adopted (Details)
Summary Of Significant Accounting Policies - Cash Flow Reporting (Details)
Summary Of Significant Accounting Policies - Nature Of Operations (Details)
Summary Of Significant Accounting Policies - Share Repurchase Program (Details)
Ticker: CBTX
CIK: 1473844
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-20-008616
Submitted to the SEC: Wed Jul 29 2020 4:55:23 PM EST
Accepted by the SEC: Wed Jul 29 2020
Period: Tuesday, June 30, 2020
Industry: National Commercial Banks

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