0000950170-23-030678.txt : 20230629 0000950170-23-030678.hdr.sgml : 20230629 20230629150217 ACCESSION NUMBER: 0000950170-23-030678 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230629 DATE AS OF CHANGE: 20230629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CapStar Financial Holdings, Inc. CENTRAL INDEX KEY: 0001676479 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 811527911 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37886 FILM NUMBER: 231056839 BUSINESS ADDRESS: STREET 1: 1201 DEMONBREUN STREET, SUITE 700 STREET 2: SUITE 700 CITY: NASHVILLE STATE: TN ZIP: 37203 BUSINESS PHONE: (615) 732-6400 MAIL ADDRESS: STREET 1: 1201 DEMONBREUN STREET, SUITE 700 STREET 2: SUITE 700 CITY: NASHVILLE STATE: TN ZIP: 37203 11-K 1 11k_-_12.31.22.htm 11-K 11-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 11-K

 

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS

AND SIMILAR PLANS PURSANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2022

 

OR

 

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to ________.

 

Commission File Number: 001-37886

 

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

 

CAPSTAR BANK 401(k) PROFIT SHARING PLAN

 

B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

CAPSTAR FINANCIAL HOLDINGS, INC.

1201 Demonbreun Street, Suite 700

Nashville, Tennessee 37203

 

 

 

 

 

 

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

TABLE OF CONTENTS

 

 

 

Report of Independent Registered Public Accounting Firm

 

 

 

 

 

 

 

Financial Statements

 

 

 

Statements of Net Assets Available for Benefits

4

 

 

Statement of Changes in Net Assets Available for Benefits

5

 

 

Notes to Financial Statements

6

 

 

 

 

 

 

Supplemental Schedule

 

 

 

Schedule H, Line 4i – Schedule of Assets (Held at End of Year)

12

 

 

 

 

 

 

Exhibit

13

 

 

 

 

 

 

Signatures

14

 

 


 

 

Report of Independent Registered Public Accounting Firm

 

 

To the Trustees, Plan Administrator, and Plan Participants of

Capstar Bank 401(k) Profit Sharing Plan

 

Opinion on the Financial Statements

 

We have audited the accompanying statements of net assets available for benefits of Capstar Bank 401(k) Profit Sharing Plan (the Plan) as of December 31, 2022 and 2021, the related statement of changes in net assets available for benefits for the year ended December 31, 2022, and the related notes to the financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2022 and 2021, and the changes in net assets available for benefits for the year ended December 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

 

Basis for Opinion

 

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

Report on Supplemental Information

 

The supplemental information in the accompanying Schedule H, Line 4i, Schedule of Assets (Held at End of Year) as of December 31, 2022, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but includes supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying schedule is fairly stated in all material respects in relation to the basic financial statements as a whole.

 

/s/ Elliott Davis, LLC

We have served as the Plan’s auditor since 2020.

 

 

Greenville, South Carolina

June 29, 2023

 

 

 

 

3

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

DECEMBER 31, 2022 AND 2021

 

 

 

 

 

2022

 

 

2021

 

Assets

 

 

 

 

 

 

Investments, at fair value

 

$

17,889,297

 

 

$

19,976,028

 

 

 

 

 

 

 

 

Receivables:

 

 

 

 

 

 

Participant contributions

 

 

 

 

 

61,026

 

Employer contributions

 

 

 

 

 

35,230

 

Notes receivable from participants

 

 

157,668

 

 

 

66,624

 

Net assets available for benefits

 

$

18,046,965

 

 

$

20,138,908

 

 

 

 

 

See Notes to Financial Statements

4

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

YEAR ENDED DECEMBER 31, 2022

 

 

 

 

 

 

Investment income (loss):

 

 

 

Net depreciation in fair value of investments

 

$

(3,857,864

)

Interest and dividends

 

 

348,278

 

Net investment income (loss)

 

 

(3,509,586

)

 

 

 

 

Interest income on notes receivable from participants

 

 

5,891

 

 

 

 

 

Contributions:

 

 

 

Participants

 

 

1,777,130

 

Employer

 

 

978,970

 

Rollover

 

 

212,636

 

 

 

 

2,968,736

 

 

 

 

 

 

 

 

(534,959

)

 

 

 

 

Deductions:

 

 

 

Benefits paid to participants

 

 

1,546,335

 

Administrative expenses

 

 

10,649

 

Total deductions

 

 

1,556,984

 

 

 

 

 

Decrease in net assets available for benefits

 

 

(2,091,943

)

 

 

 

 

Net assets available for benefits, beginning of year

 

 

20,138,908

 

 

 

 

 

Net assets available for benefits, end of year

 

$

18,046,965

 

 

 

 

See Notes to Financial Statements

5

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2022 AND 2021

 

 

Note 1: Description of the Plan

The following description of the CapStar Bank 401(k) Profit Sharing Plan (Plan) provides only general information. Participants should refer to the Plan Document for a more complete description of the Plan’s provisions.

General

The Plan is a defined contribution plan sponsored by CapStar Bank (Company) for the benefit of its full-time employees and part-time employees whose regularly scheduled hours during each computation period exceed 1,000 hours. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Newport Trust Company is the trustee of the Plan and serves as Plan Custodian and recordkeeper.

Effective April 30, 2018, the Plan allows participants to direct a portion of their investments into a fund that is invested in the common stock of CapStar Financial Holdings, Inc. (CapStar). The Plan sponsor has placed a limit on participant investments into this fund whereby no more than 10% of a participant’s account balance may be invested in this fund. Investments in the Plan, including CapStar common stock, have been registered with the Securities and Exchange Commission (SEC).

Contributions

The Plan permits eligible employees through a salary deferral election to have the Company make annual contributions in amounts up to the maximum amount allowed by law. Employee Roth, rollover and catch-up contributions are also permitted. The Company makes safe-harbor nonelective contributions to each eligible participant in an amount equal to 3% of the employee’s eligible compensation. The Company may elect to make additional matching contributions or profit-sharing contributions equal to a discretionary percentage. No discretionary matching contributions or profit-sharing contributions were made to the Plan for the year ended December 31, 2022. Contributions are subject to certain limitations.

Participant Investment Account Options

Each participant has the option of directing his or her contributions into any of the various investment options offered by the Plan and may change the allocation daily.

Participant Accounts

Each participant’s account is credited with the participant’s contribution, the Company’s contribution and Plan earnings and is charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Vesting

Participants are immediately vested in their voluntary contributions and employer safe harbor nonelective contributions, plus earnings thereon. Vesting in the Company’s discretionary matching and profit-sharing contribution portions of their accounts, plus earnings thereon, is based on employees’ service. A participant is fully vested in employer discretionary matching and
profit-sharing contributions, if applicable, after four years of service. Forfeitures, if applicable, are used to pay administrative expenses or to reduce any employer contribution.

Notes Receivable from Participants

Participants may borrow from their fund accounts a minimum of $1,000, up to a maximum equal to the lesser of $50,000 or 50% of their account balance. The loans are secured by the balance in the participant’s account. The loan interest rate, determined quarterly, is set at 1% above the prime rate, as defined. Principal and interest are paid ratably through payroll deductions.

 

 

6

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2022 AND 2021

 

 

Payment of Benefits

Upon termination of service or disability, a participant may elect to receive a lump-sum amount equal to the value of his or her account. Participants may elect in-service distributions from after-tax and rollover account balances, or after attaining age 59.5 from all vested account balances. Participants are also eligible to make hardship withdrawals in the event of certain financial hardships.

Forfeited Accounts

At December 31, 2022 and 2021, forfeited accounts totaled approximately $1,500 and $1,400, respectively. Forfeitures may be used to reduce the Bank’s future contributions to the Plan as well as payment of administrative expenses. For the years ended December 31, 2022 and 2021, contributions were reduced from forfeited accounts by approximately $1,000 and $3,500, respectively.

Note 2: Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements of the Plan are prepared on the accrual basis of accounting.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets and changes in net assets and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

Investment Valuation and Income Recognition

Investments are reported at fair value. Quoted market prices, if available, are used to value investments. Mutual funds are valued at quoted market prices of shares held by the Plan at year-end. Common stock within the unitized stock fund is valued at the closing price reported on the active market on which the individual securities are traded. Money market funds, including those within the unitized stock fund, are valued at amortized cost, which approximates fair value. The Plan’s interest in the collective trust is valued at the net asset value (NAV) of units of the collective trust. The NAV is used as a practical expedient to estimate fair value of the collective trust investment.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes the Plan’s gains and losses on investments bought and sold, as well as held during the year.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Loan repayment periods may not exceed 5 years except for loans used to acquire a principal residence, in which case the repayment period may not exceed 15 years. Notes receivable are considered in default if any scheduled repayment is not made by the end of the calendar quarter following the calendar quarter in which the missed payment was due. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan Document. During the year ended December 31, 2022 no loans were considered delinquent and deemed as distributions. No allowance for loan losses has been recorded as of December 31, 2022 or 2021.

Payment of Benefits

Benefit payments to participants are recorded upon distribution.

 

 

7

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2022 AND 2021

 

 

Administrative Expenses

Administrative expenses may be paid by the Company or the Plan, at the Company’s discretion.

Note 3: Related-Party and Party-in-Interest Transactions

Party-in-interest transactions include those with fiduciaries or employees of the Plan, any person who provides services to the Plan, an employer whose employees are covered by the Plan, an employee organization whose members are covered by the Plan, a person who owns 50% or more of such an employer or employee association or relatives of such persons.

The Plan paid $10,649 of fees to the Plan recordkeeper during the year ended December 31, 2022 compared to $15,254 for the year ended December 31, 2021. The Company provides certain administrative services at no cost to the Plan.

The Plan held the following party-in-interest investments (at fair value) within the unitized stock fund at December 31:

 

 

2022

 

 

2021

 

CapStar Financial Holdings Inc. (CSTR) common stock

 

$

670,921

 

 

$

790,539

 

Shares outstanding

 

 

37,991

 

 

 

37,591

 

Note 4: Disclosures About Fair Value of Plan Assets and Liabilities

Fair value is the price that would be received by the Plan for an asset or paid by the Plan to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date in the Plan’s principal or most advantageous market for the asset or liability. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:

 

Level 1

Quoted prices in active markets for identical assets or liabilities

Level 2

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities

Level 3

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities

 

 

 

8

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2022 AND 2021

 

 

Recurring Measurements

The following table presents the fair value measurements of assets recognized in the accompanying statements of net assets available for benefits measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2022 and 2021:

 

 

 

Fair value measurements using

 

 

 

Quoted prices

 

 

 

 

 

 

 

 

 

 

 

 

in active

 

 

Significant

 

 

 

 

 

 

 

 

 

markets for

 

 

other

 

 

Significant

 

 

 

 

 

 

identical

 

 

observable

 

 

unobservable

 

 

 

 

 

 

assets

 

 

inputs

 

 

inputs

 

 

 

 

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

$

16,162,550

 

 

$

 

 

$

 

 

$

16,162,550

 

Unitized stock fund

 

 

697,969

 

 

 

 

 

 

 

 

 

697,969

 

Total assets in fair value hierarchy

 

$

16,860,519

 

 

$

 

 

$

 

 

$

16,860,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments measured at net asset value (A):

 

 

 

 

 

 

 

 

 

 

 

 

Collective trust fund

 

 

 

 

 

 

 

 

 

 

 

1,028,778

 

 

 

 

 

 

 

 

 

 

 

 

$

17,889,297

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds

 

$

18,364,238

 

 

$

 

 

$

 

 

$

18,364,238

 

Unitized stock fund

 

 

813,046

 

 

 

 

 

 

 

 

 

813,046

 

Total assets in fair value hierarchy

 

$

19,177,284

 

 

$

 

 

$

 

 

$

19,177,284

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments measured at net asset value (A):

 

 

 

 

 

 

 

 

 

 

 

 

Collective trust fund

 

 

 

 

 

 

 

 

 

 

 

798,744

 

 

 

 

 

 

 

 

 

 

 

 

$

19,976,028

 

 

(a)
In accordance with Subtopic 820-10, an investment measured at the NAV per share (or its equivalent) has not been classified in the fair value hierarchy. The fair value amount presented in this table is intended to permit a reconciliation of the fair value hierarchy to the line items presented in the statements of net assets available for benefits.

Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying statements of net assets available for benefits, as well as the general classification of such assets pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the year ended December 31, 2022. The Plan had no liabilities measured at fair value on a recurring basis. In addition, the Plan had no assets or liabilities measured at fair value on a nonrecurring basis.

Investments

Where quoted market prices are available in an active market, mutual fund investments are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such investments are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy.

The unitized stock fund consists of CapStar Financial Holdings, Inc. (CSTR) common stock and money market funds that provide liquidity for daily trading. CSTR common stock is valued at the closing price reported on the active market on which the individual securities are traded and the money market funds are valued at amortized cost, which approximates fair value.

 

 

9

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2022 AND 2021

 

 

Investment Measured Using the Net Asset Value per Share Practical Expedient

The following tables summarize the investment for which fair value is measured using the NAV per share practical expedient as of December 31, 2022 and 2021. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.

 

 

 

 

 

 

Unfunded

 

Redemption

 

Redemption

 

 

Fair value

 

 

commitments

 

frequency

 

notice period

December 31, 2022

 

 

 

 

 

 

 

 

 

Morley Stable Value Fund

 

$

1,028,778

 

 

N/A

 

Daily

 

None

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

Morley Stable Value Fund

 

$

798,744

 

 

N/A

 

Daily

 

None

 

Note 5: Risks and Uncertainties

The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the participants’ account balances and the amounts reported in the statements of net assets available for benefits.

Note 6: Plan Termination

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their employer contributions.

Note 7: Tax Status

The Plan operates under a volume submitter adoption agreement and plan document sponsored by Newport Group, Inc. The volume submitter document has been filed with the appropriate agency. The Plan obtained a pre-approval determination letter from the IRS in June of 2020 which demonstrates that the IRS has determined and informed the Plan sponsor that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code. Although the Plan has been amended since receiving the opinion, the Plan administrator believes that the Plan is currently designed and is being operated in compliance with the applicable requirements of the Internal Revenue Code and, therefore, believe that the Plan is qualified, and the related trust is tax-exempt. Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Note 8: Plan Amendment

Effective November 24, 2021, the Plan was amended whereas deferral elections can be entered into as of each participant's Plan entry date or the first day of the month. Furthermore, any deferral election modifications can be entered into on the first day of each month. Initial deferral elections and subsequent modifications will become effective as soon as administratively feasible under the Plan's administrator. All other significant provisions of the Plan remained unchanged as a result of these 2021 amendments.

 

Note 9: Subsequent Events

The plan has evaluated all events or transactions that occurred through June 29, 2023, the date the financial statements were issued and determined that there are no matters requiring adjustment to or disclosure in the accompanying financial statements and related notes.

 

 

 

10

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental Schedule

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

EIN 26-0189349 PN 001

SCHEDULE H, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

DECEMBER 31, 2022

 

 

Identity of issuer

 

Description of investment

 

Current value

 

Investments:

 

 

 

 

 

Ab Small Cap Growth Portfolio Class X

 

Mutual Fund

 

$

24,712

 

Allspring Special Mid Cap Value

 

Mutual Fund

 

 

6,224

 

American Century Small Cap Value Fund

 

Mutual Fund

 

 

15,194

 

American Funds Europacific Growth

 

Mutual Fund

 

 

294,214

 

American Funds New Perspective

 

Mutual Fund

 

 

67,282

 

Calamos Market Neutral Income

 

Mutual Fund

 

 

43,582

 

Delaware Ivy Mid Cap Growth

 

Mutual Fund

 

 

23,204

 

Fidelity 500 Index

 

Mutual Fund

 

 

2,273,267

 

Fidelity Blue Chip Growth

 

Mutual Fund

 

 

749,473

 

Fidelity Freedom Index 2015

 

Mutual Fund

 

 

97,883

 

Fidelity Freedom Index 2020

 

Mutual Fund

 

 

514,497

 

Fidelity Freedom Index 2025

 

Mutual Fund

 

 

1,038,312

 

Fidelity Freedom Index 2030

 

Mutual Fund

 

 

2,881,088

 

Fidelity Freedom Index 2035

 

Mutual Fund

 

 

1,114,536

 

Fidelity Freedom Index 2040

 

Mutual Fund

 

 

716,308

 

Fidelity Freedom Index 2045

 

Mutual Fund

 

 

281,764

 

Fidelity Freedom Index 2050

 

Mutual Fund

 

 

2,034,909

 

Fidelity Freedom Index 2055

 

Mutual Fund

 

 

264,142

 

Fidelity Freedom Index 2060

 

Mutual Fund

 

 

49,758

 

Fidelity Freedom Index 2065

 

Mutual Fund

 

 

12,658

 

Fidelity Freedom Index Inc.

 

Mutual Fund

 

 

663,628

 

Fidelity U.S. Bond Index

 

Mutual Fund

 

 

9,381

 

Metropolitan West Total Return Bond

 

Mutual Fund

 

 

222,336

 

PGIM High Yield

 

Mutual Fund

 

 

83,135

 

Vanguard Developed Markets Index

 

Mutual Fund

 

 

184,357

 

Vanguard Emerging Markets Index

 

Mutual Fund

 

 

204,734

 

Vanguard Mid Cap Index

 

Mutual Fund

 

 

687,906

 

Vanguard Small Cap Index

 

Mutual Fund

 

 

646,553

 

Vanguard Total International Stock Index

 

Mutual Fund

 

 

117,758

 

Vanguard Total Stock Market Index

 

Mutual Fund

 

 

388,049

 

Vanguard Value Index

 

Mutual Fund

 

 

451,706

 

Morley Stable Value Fund

 

Common Collective Trust Fund

 

 

1,028,778

 

*CapStar Bank Unitized Stock Fund

 

Unitized Stock Fund

 

 

697,969

 

 

 

 

 

 

17,889,297

 

 

 

 

 

 

 

*Participant Loans

 

Participant plan notes:

 

 

 

 

 

Lowest interest rate - 4.25%

 

 

 

 

 

Highest interest rate - 8.00%

 

 

 

 

 

Due through April 2034

 

 

157,668

 

 

 

 

 

$

18,046,965

 

*Party-in-interest

 

 

 

12

 


CAPSTAR BANK 401(k) PROFIT SHARING PLAN

EXHIBIT INDEX

 

 

 

 

Exhibit Number

 

Description

 

 

 

23.1

Consent of Independent Registered Public Accounting Firm

 

 

 

 

 

 

 

 

 

 

 

 

 

13

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

CAPSTAR BANK 401(k) PROFIT SHARING PLAN

 

By:

/s/ Michael J. Fowler

 

 

Michael J. Fowler

 

Chief Financial Officer

(Principal Financial Officer)

 

 

 

 

 

 

CAPSTAR BANK 401(k) PROFIT SHARING PLAN

 

By:

/s/ Alison L. Jefferson

 

 

Alison L. Jefferson

 

Controller

(Principal Accounting Officer)

 

 

 

 

Date: June 29, 2023

 

 

14

 


EX-23.1 2 cstr-ex23_1.htm EX-23.1 EX-23.1

 

Exhibit 23.1

 

Consent of Independent Registered Public Accounting Firm

We consent to the incorporation by reference in the Registration Statement (No. 333-224559) on Form S-8 of CapStar Financial Holdings, Inc. of our report dated June 29, 2023, relating to our audit of the financial statements and supplemental schedule of CapStar Bank 401(k) Profit Sharing Plan which appears in this Annual Report on Form 11-K of CapStar Bank 401(k) Profit Sharing Plan for the year ended December 31, 2022.

/s/ Elliott Davis, LLC

Greenville, South Carolina

June 29, 2023