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Cbtx, Inc. (CBTX) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

SEC Filings

Cbtx, Inc.

CIK: 1473844 Ticker: CBTX

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Exhibit 99.1

CBTX, Inc. Reports Quarterly Financial Results

Houston, Texas, July 28, 2021 -- CBTX, Inc., or the Company (NASDAQ: CBTX), the bank holding company for CommunityBank of Texas, N.A., or the Bank, today announced its results for the second quarter of 2021.

Robert R. Franklin, Jr., Chairman, CEO and President of the Company stated, “We are proud to present our second quarter financial results which we think are indicative of a transition from a COVID dominated economy to a more robust, growth economy. We have seen credit steadily improve, deposits continue to grow, customers beginning to develop new projects and look to expand their operations, and our local economy rally with improvement in the unemployment picture. We are seeing a more natural flow of payoffs as people sell projects or modify them into more permanent financing.”

Mr. Franklin continued, “Our officers are increasing their pace of in-person meetings, and we are seeing our pipeline expand as we continue into the third quarter. We expect to continue to see new and improved activity through the third and fourth quarter.”

Mr. Franklin added, “We have been provided significant liquidity by our customer base. Our job is to stay focused and disciplined on our credit culture as we put these funds to work. Competition for business is stiff and the rate environment is challenging; however, these are issues we have dealt with since our inception. We are happy to be in a more robust economy and will continue to use that growth to continue to build CBTX for the future.”

Highlights

Net income was $11.7 million for the second quarter of 2021, or $0.48 per diluted share, compared to $10.0 million, or $0.41 per diluted share, for the first quarter of 2021 and $2.2 million, or $0.09 per diluted share, for the second quarter of 2020.
Recapture of allowance for credit losses, or ACL, of $5.1 million, primarily due to continued improvements in the national economy and forward-looking national economic forecasts, improved loan quality and the reduction of loan balances and unfunded commitments during the second quarter of 2021.
Net interest margin on a tax equivalent basis decreased to 3.29% for the second quarter of 2021, compared to 3.71% for the first quarter of 2021, primarily due to lower loan rates and average balances for the loan portfolio.
Cash and equivalents increased $183.7 million to $788.4 million during the second quarter of 2021, primarily due to net deposit inflows and loan payments received.

Operating Results

Net Interest Income

Net interest income was $31.0 million for the second quarter of 2021, compared to $33.1 million for the first quarter of 2021 and $32.2 million for the second quarter of 2020. Net interest income decreased $2.1 million during the second quarter of 2021, compared to the first quarter of 2021, primarily due to lower loan rates and  lower average loans, partially offset by the impact of one additional day, higher average securities and lower rates on interest-bearing deposits in the second quarter of 2021. Net interest income includes $1.5 million of net fees recognized on Paycheck Protection Program, or PPP, loans in the second quarter of 2021, compared to $3.2 million recognized in the first quarter of 2021.

Net interest income decreased $1.1 million during the second quarter of 2021, compared to the second quarter of 2020, primarily due to lower rates on interest-earning assets, lower average loans and higher average interest-bearing deposits, partially offset by lower rates on interest-bearing deposits and higher average securities and other interest-earning assets.

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The following information was filed by Cbtx, Inc. (CBTX) on Wednesday, July 28, 2021 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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Inside Cbtx, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Balance Sheets
Balance Sheets (Parentheticals)
Statements Of Cash Flows
Statements Of Changes In Shareholders Equity
Statements Of Changes In Shareholders Equity (Parentheticals)
Statements Of Comprehensive Income
Statements Of Income
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 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 (Tables)
Earnings Per Share - Anti-Dilutive Shares (Details)
Earnings Per Share - Computation Of Basic And Diluted Earnings Per Share (Details)
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 Individually Evaluated Loans 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 Of Federal Home Loan Bank Advances (Details)
Loan Performance
Loan Performance (Tables)
Loan Performance - Aging Analysis Of Past Due Loans, By Loan Class (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 Granted (Details)
Loan Performance - Troubled Debt Restructurings With Payment Defaults (Details)
Loans
Loans (Tables)
Loans - By Portfolio Segment (Details)
Loans - Loan Participations Purchased And Sold And Loans Guaranteed (Details)
Operating Leases
Operating Leases (Tables)
Operating Leases - Lease Costs (Details)
Operating Leases - Maturity Analysis Of Operating Lease Liabilities (Details)
Operating Leases - Narrative (Details)
Operating Leases - Other Information (Details)
Premises And Equipment
Premises And Equipment (Tables)
Premises And Equipment - Components Of Premises And Equipment (Details)
Regulatory Matters
Regulatory Matters (Tables)
Regulatory Matters - Investigation By Fincen (Details)
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: 0001558370-21-013647
Submitted to the SEC: Wed Oct 27 2021 5:09:45 PM EST
Accepted by the SEC: Wed Oct 27 2021
Period: Thursday, September 30, 2021
Industry: National Commercial Banks

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