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Posted March 15, 2021


Studio Bank finished 2020, its second full calendar year in business, with a profit of $815,000 after being in the green every month since June.

Nashville’s newest bank ended last year with nearly $435 million in assets and about $260 million in net loans. Those numbers were up 93 percent and 61 percent, respectively, from the figures of 12 months earlier. President and CEO Aaron Dorn told the Post his team’s rough goal is to add $125 million to its loan book in 2021 and sees Studio maintaining its growth pace — which has it 15 percent ahead of pre-opening forecasts.

To help with that, Studio late last year closed the book on a $9.5 million capital raise.

“Profitability like we had is similar to a smaller capital raise,” Dorn said. “But our growth hasn’t changed […] That’s why we raised more capital.”

The Studio team initially had targeted raising $7.5 million, but strong demand let them comfortably exceed that number. About 90 percent of investors in the round were from the Nashville area and 60 percent also had put money into Studio’s pre-launch raise of $46 million.

The hot mortgage market was a big driver in Studio’s 2020 profitability — which included a fourth quarter during which it produced net income of about $1.5 million. Gains on the sale of loans topped $6 million for the year compared to $1.6 million in 2019, when Studio brought its mortgage team to market. Dorn said he hasn’t seen a slowdown in home loan activity so far this year but added that he expects his team’s mix to skew more heavily toward purchases in the second half of 2021.

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