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Atlantic Capital Bancshares, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Nov 5, 2021. Its latest SEC filing is a SC 13G/A from Feb 10, 2023.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides commercial and consumer banking, including loans, deposit accounts and payment processing, to businesses and individuals.

How Did They Make Money?

Customers pay monthly account-maintenance fees and transaction fees for services such as wire transfers and ATM withdrawals; charges are generally collected when the service is completed.

FY2020 revenue

Who Were Their Customers?

Serves commercial clients and individuals through its banking operations, including commercial and consumer banking customers.

Did Revenues Turn Into Profits?

Yes. It kept 23 cents of every revenue dollar as net income in FY2020 and turned 82 cents into free cash flow.

Net income, FY2020
23% of revenue
▼ −55% vs FY2019 ($49.9M, 47%)
Free cash flow, FY2020
82% of revenue
▼ −1% vs FY2019 ($81.4M, 77%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Revenue
▲ +10%
vs $24.2M in Q3 FY2020
Net income
▲ +54%
vs $8.6M in Q3 FY2020
  • Mar 4, 2022 Merged with SouthState and sought Nasdaq delisting At the merger’s effective time, Atlantic Capital shareholders ceased to have shareholder rights other than the right to receive merger consideration.
  • Jul 26, 2021 Agreed to merge with SouthState SouthState was to survive the merger, and Atlantic Capital Bank was to merge into SouthState Bank.

Grew. Revenue grew 56% in 4 years, from $63.3M in FY2016 to $99M in FY2020, about 12% a year.

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