CapStar Financial Holdings and Gaylon Lawrence Announce Collaborative Agreement
July 23 2020 - 6:00PM
CapStar Financial Holdings, Inc. (“CapStar”, the
“Company”) (NASDAQ: CSTR), the parent company
of CapStar Bank, and Gaylon Lawrence jointly announced today
an agreement to facilitate a strong and supportive relationship to
the benefit of all stakeholders and resolve the outstanding
litigation between the parties.
“We look forward to engaging with Gaylon and building a
productive and mutually beneficial relationship,” said Timothy K.
Schools, CapStar President and CEO. “CapStar’s board
appreciates Gaylon’s substantial investment and support as we work
to maximize our potential. CapStar is a young company and
well positioned for continued success, having outstanding
employees, industry-leading client delivery and service, and strong
geographic positioning, all of which has situated the company to
benefit from the likelihood of further industry consolidation.”
“We appreciate our constructive dialogue with CapStar and the
progress we have made together,” said Gaylon M. Lawrence. “We
initiated an investment in CapStar due to the attractiveness of
Nashville’s $64 billion deposit market and the bank’s outstanding
prospects. I am supportive of CapStar’s strategic direction, board
and leadership team, and look forward to building a long-term
relationship sharing common goals of investing in employees,
delivering value to clients, supporting communities, and building
shareholder value.”
Under the terms of the agreement, both management and the board
of directors of CapStar have agreed to regularly scheduled meetings
with Mr. Lawrence, Lawrence has agreed to an investment limit not
to exceed 9.9% of CapStar’s outstanding common stock for twenty-one
months, and Lawrence will vote consistent with the Board’s
recommendation on major actions requiring a shareholder vote.
ABOUT CAPSTAR FINANCIAL HOLDINGS, INC.
CapStar Financial Holdings, Inc. is a bank holding company
headquartered in Nashville, Tennessee and operates
primarily through its wholly owned subsidiary, CapStar Bank,
a Tennessee-chartered state bank. CapStar Bank is a
commercial bank that seeks to establish and maintain comprehensive
relationships with its clients by delivering customized and
creative banking solutions and superior client service. As of June
30, 2020, on a consolidated basis, CapStar had total
assets of $2.45 billion, gross loans of $1.59 billion,
total deposits of $2.10 billion, and shareholders’ equity
of $281.95 million. Visit www.capstarbank.com for
more information.
ABOUT GAYLON M. LAWRENCEGaylon M. Lawrence, a
resident of Nashville, TN, is an owner and long-term investor in a
diversified group of companies. This includes owning eight banks,
three of which are in the Nashville MSA, with total assets
exceeding $3.1 billion. Lawrence also owns a series of
agricultural-related businesses throughout the country.
Additionally, he owns the historic Heitz Cellar and Haynes Vineyard
in Napa Valley. Lawrence’s commercial real estate portfolio
includes Peabody Plaza and 1201 Demonbreun in Nashville and
historic Mare Island in the Bay Area of California. His
philanthropic impact includes owning and revitalizing the town of
Wilson, Arkansas.
For more information, contact: Tim Schools
President and Chief Executive OfficerCapStar Financial Holdings
(615) 732-7449
For more information regarding Gaylon M. Lawrence,
contact: Jason West (615) 257-7085
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