Allegiance Bancshares, Inc. (ABTX) Bundle
A Brief History of Allegiance Bancshares, Inc. (ABTX)
Foundation and Early Years
Foundation and Early Years
Allegiance Bancshares, Inc. was founded in 2007 in Houston, Texas. The company started with a focus on serving the small to medium-sized businesses and individuals in the Greater Houston area. The bank's mission centered around providing personalized banking services and fostering long-term relationships.
Growth and Expansion
In 2010, Allegiance Bank opened its first branch in Katy, Texas, marking the beginning of its geographical expansion. By the end of 2015, the bank had expanded to a total of 10 branches across the Houston metropolitan area.
Initial Public Offering (IPO)
On April 19, 2018, Allegiance Bancshares, Inc. completed its initial public offering, raising approximately $50 million by selling 2.5 million shares at a price of $20 per share. This event accelerated its growth strategy and provided capital for further expansions.
Strategic Acquisitions
To enhance its market position, Allegiance Bancshares acquired several financial institutions. Notably, in 2019, Allegiance Bank acquired the Houston-based CommunityBank of Texas, which added over $400 million in assets.
Financial Performance
As of December 31, 2022, Allegiance Bancshares reported total assets of approximately $3.2 billion. The bank recorded a net income of $32 million for the year, which translated to diluted earnings per share of $1.68.
Recent Developments
In 2021, Allegiance Bancshares announced a strategic plan to enhance digital banking services. Investments in technology were estimated at $5 million over the next three years to improve customer experience.
Market Position
As of 2022, Allegiance Bancshares ranked among the top 10 community banks in Houston, with a market share of approximately 3.5%. Its total loans outstanding reached $2.1 billion, with a diverse loan portfolio that includes commercial, industrial, and residential mortgages.
| Year | Total Assets ($ millions) | Net Income ($ millions) | Diluted EPS ($) | Market Share (%) |
|---|---|---|---|---|
| 2018 | 1,500 | 18 | 0.90 | 2.5 |
| 2019 | 1,900 | 22 | 1.10 | 2.8 |
| 2020 | 2,300 | 26 | 1.40 | 3.0 |
| 2021 | 2,800 | 30 | 1.50 | 3.2 |
| 2022 | 3,200 | 32 | 1.68 | 3.5 |
Community Involvement
Allegiance Bancshares is known for its commitment to community service and philanthropy. In 2022, the bank donated over $500,000 to local charities and community development projects.
Current Market Capitalization
As of October 2023, Allegiance Bancshares, Inc. has a market capitalization of approximately $500 million, reflecting its growth trajectory and investor confidence in the bank's business model.
A Who Owns Allegiance Bancshares, Inc. (ABTX)
Corporate Ownership Structure
As of the latest available data, Allegiance Bancshares, Inc. (ABTX) has a diverse ownership structure comprising institutional investors, individual shareholders, and insiders. The ownership percentages are important for understanding the influence over company decisions and its governance.
| Owner Type | Ownership Percentage | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 55.1% | 3,205,000 |
| Individual Shareholders | 25.3% | 1,470,000 |
| Insider Ownership | 19.6% | 1,180,000 |
Major Institutional Investors
Some of the largest institutional shareholders include investment firms and mutual funds that significantly influence stock performance.
| Institution | Shares Owned | Ownership Percentage |
|---|---|---|
| The Vanguard Group | 700,000 | 12.0% |
| BlackRock, Inc. | 600,000 | 10.2% |
| State Street Corporation | 500,000 | 8.5% |
Insider Ownership Details
Insider ownership can include executive officers and board members. It reflects the commitment of management to the company.
| Insider Name | Position | Shares Owned |
|---|---|---|
| George Martinez | CEO | 450,000 |
| John R. Moser | CFO | 320,000 |
| Mary Ann Timmons | Director | 200,000 |
Recent Shareholder Activity
Recent trends in shareholder activity indicate potential shifts in ownership.
- Total Shares Outstanding: 5,800,000
- Float Shares: 5,000,000
- Short Interest: 150,000 shares (2.6% of float)
Market Capitalization and Performance
Understanding the valuation of ABTX is crucial for assessing shareholder ownership value.
- Market Capitalization: $160 million
- Current Stock Price: $27.60
- 52-Week High: $32.50
- 52-Week Low: $24.00
Conclusion on Investor Sentiment
Investor sentiment can often be gauged through changes in ownership percentages and investor activity.
- Recent Insider Buying: 10,000 shares purchased by executives
- Institutional Holdings Increase: 2% rise in institutional ownership
Allegiance Bancshares, Inc. (ABTX) Mission Statement
Overview of Mission Statement
The mission of Allegiance Bancshares, Inc. (ABTX) is to provide personalized banking solutions through exceptional customer service while fostering a culture of integrity, excellence, and community involvement. The company aims to serve its clients with customized financial products that meet their diverse needs.
Core Values
- Integrity: Upholding ethical standards in all business practices.
- Customer Service: Committed to providing the best banking experience.
- Community Focus: Engaging in local initiatives and support.
- Teamwork: Fostering a collaborative work environment.
Financial Performance Indicators
As of the latest financial report in Q3 2023, Allegiance Bancshares, Inc. reported the following financial statistics:
| Indicator | Q3 2023 Amount |
|---|---|
| Total Assets | $3.2 billion |
| Total Deposits | $2.8 billion |
| Net Income | $21 million |
| Return on Equity (ROE) | 9.5% |
| Return on Assets (ROA) | 0.65% |
Market Position
Allegiance Bancshares, Inc. holds a significant position in the Texas banking market. In 2022, it was identified among the top 50 community banks in Texas based on asset size.
Target Clientele
The company primarily focuses on:
- Small to medium-sized businesses.
- Individual clients seeking personal banking solutions.
- Non-profit organizations.
Community Engagement Initiatives
Allegiance Bancshares, Inc. has actively participated in various community programs, including:
- Financial literacy programs for youth.
- Partnerships with local charities and non-profits.
- Corporate volunteering efforts by employees.
Strategic Goals
The strategic goals for Allegiance Bancshares, Inc. include:
- Expanding their branch network across Texas.
- Enhancing digital banking capabilities.
- Building a diversified loan portfolio.
- Increasing customer acquisition and retention rates.
Client Satisfaction Metrics
According to the latest customer satisfaction survey conducted in August 2023, Allegiance Bancshares, Inc. achieved:
| Metric | Score |
|---|---|
| Customer Satisfaction Index | 88% |
| Net Promoter Score (NPS) | 45 |
| Loan Processing Time Satisfaction | 89% |
| Digital Banking Experience Satisfaction | 84% |
How Allegiance Bancshares, Inc. (ABTX) Works
Company Overview
Company Overview
Allegiance Bancshares, Inc., traded under the ticker ABTX, is a bank holding company located in Houston, Texas. The company primarily operates through its wholly-owned subsidiary, Allegiance Bank, which offers a wide range of financial services.
Financial Performance
As of December 31, 2022, Allegiance Bancshares reported the following key financial figures:
| Item | Value (in millions) |
|---|---|
| Total Assets | $3,820 |
| Total Liabilities | $3,337 |
| Total Equity | $483 |
| Net Income | $31 |
| Earnings Per Share (EPS) | $1.47 |
| Return on Assets (ROA) | 0.83% |
| Return on Equity (ROE) | 6.62% |
| Net Interest Margin (NIM) | 3.52% |
Business Segments
Allegiance Bancshares operates primarily in the following segments:
- Community Banking
- Commercial Banking
- Mortgage Banking
- Wealth Management
Products and Services
The company offers a variety of products and services, including:
- Checking and Savings Accounts
- Commercial Loans
- Mortgage Loans
- Credit and Debit Cards
- Online and Mobile Banking Services
- Investment Services
Geographical Presence
Allegiance Bank serves customers throughout the Greater Houston area. The following table illustrates its branch distribution:
| Location | Number of Branches |
|---|---|
| Houston | 20 |
| Spring | 5 |
| Sugar Land | 4 |
| Humble | 2 |
| Katy | 3 |
Market Position
As of 2022, Allegiance Bancshares holds a significant position in the Texas banking sector:
- Total Deposits: $3.2 billion
- Market Capitalization: Approximately $461 million
- Ranked among the top community banks in Texas based on assets
Recent Developments
In 2023, Allegiance Bancshares announced various initiatives aimed at enhancing customer experience and expanding digital offerings:
- Launch of a new mobile banking application
- Expansion of digital loan processing
- Community engagement programs promoting financial literacy
Stock Information
As of October 2023, the stock performance of Allegiance Bancshares is as follows:
| Metric | Value |
|---|---|
| Current Stock Price | $30.50 |
| 52-Week High | $35.10 |
| 52-Week Low | $24.20 |
| Dividend Yield | 2.31% |
How Allegiance Bancshares, Inc. (ABTX) Makes Money
Core Banking Operations
Allegiance Bancshares, Inc. primarily generates revenue through traditional banking operations, which include interest income from loans and investments. For the year ended December 31, 2022, Allegiance reported a total interest income of approximately $105 million.
Interest Income Breakdown
| Type of Loan | Total Amount ($ Million) | Interest Rate (%) |
|---|---|---|
| Commercial Loans | 55 | 4.25 |
| Real Estate Loans | 30 | 4.00 |
| Consumer Loans | 15 | 6.00 |
Non-Interest Income Sources
In addition to interest income, Allegiance also earns non-interest income through various fees. For the fiscal year 2022, non-interest income totaled approximately $25 million.
- Service Charges on Deposit Accounts: $10 million
- Investment Advisory Fees: $5 million
- Mortgage Fees: $3 million
- Other Non-Interest Income: $7 million
Operating Efficiency
Allegiance Bancshares, Inc. maintains a strong focus on operating efficiency. The efficiency ratio for 2022 was reported at 55%, indicating that a smaller portion of revenue is used to cover operating expenses.
Loan Portfolio Performance
The performance of Allegiance's loan portfolio is essential to its profitability. As of December 31, 2022, the ratio of non-performing loans to total loans was 1.2%, reflecting effective credit risk management.
Return on Assets and Equity
For the year 2022, Allegiance reported a return on assets (ROA) of 1.10% and a return on equity (ROE) of 10.50% which indicates a stable and profitable operation.
Capital Management
Allegiance Bancshares, Inc. adheres to a strong capital management strategy, maintaining a Tier 1 capital ratio of 12.5% as of year-end 2022, exceeding the regulatory minimum.
Market Position and Growth Strategies
The company continues to grow through strategic acquisitions and organic growth. Allegiance completed the acquisition of Spirit of Texas Bancshares in 2020, which expanded its market presence significantly.
Investment in Technology
Allegiance is investing in technology to improve customer experience and operational efficiency, with planned expenditures in 2023 estimated at $5 million for digital banking enhancements.
Outlook and Future Earnings Potential
Analysts project growth in earnings per share (EPS) to increase by 10% annually over the next five years, driven by expanding market share and effective cost management strategies. The EPS for 2022 was reported at $3.00.
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