First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (July 2024)
32 slides from First Us Bancshares's investor presentation, Jul 24, 2024
Slide 1: Investor Presentation As of June 30, 2024
Investor Presentation As of June 30, 2024 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation of First US Bancshares, Inc. (“FUSB” or the “Company”) contains forward-looking statements, as defined by federal securities laws. Statements contained in this presentation that are not historical facts, including without limitation all statements relatin
Slide 3: Presentation Disclosure
Presentation Disclosure This presentation has been prepared by FUSB solely for informational purposes based on its own information, as well as information from public sources. This presentation has been prepared to assist interested parties in making their own evaluation of FUSB and does not purport
Slide 4: Contents
Contents Corporate Profile 5 Strategic Focus 8 2Q2024 Highlights 11 Deposit Composition 12 Loan Portfolio Trends 13 Asset Quality Trends 17 Recent Financial Trends 20 5 Year Financial Trends 23 Risk Management – Capital, Liquidity and Market Sensitivity 26 Appendix: Non-GAAP Reconciliation 29
Slide 5: Company
Company Founded: 1952 Headquarters: Birmingham, AL First US Bank: 15 Branches / 2 LPOs Total Assets: $1,083 million Total Loans: $819 million Total Deposits: $954 million Loans to Deposits: 86% Exchange: Nasdaq: FUSB Stock price: $9.25 Tangible BV: $15.03 per share (1) Price to TBV: 62% Market Cap:
Slide 6: Corporate Profile: Senior Leadership Team
Corporate Profile Senior Leadership Team James F. House President and Chief Executive Officer Veteran banker with SouthTrust Bank for 31 years Business consultant 2005 to 2009 focusing on management, investments, and commercial and consumer lending issues Florida Division President with BankTrust fr
Slide 7: First US Bank Branch and LPO Location Map
Corporate Profile First US Bank – Branch and LPO Location Map Retail Banking Centers Loan Production Offices Retail Banking Center (Under Construction)
Slide 8: Strategic Focus
` PRIMARY GOALS Grow EPS, ROA and ROE Consistent, diversified loan and deposit growth Adherence to strong credit culture Effective expense control LENDING FOCUS EXPENSE CONTROL LONGER TERM GROWTH EFFORTS Superior organic growth in earning assets Adherence to commercial lending fundamentals: cash flo
Slide 9: Building and Maintaining a Diversified Balance Sheet
Strategic Focus Building and Maintaining a Diversified Balance Sheet Loan Composition as of 6/30/2024 Deposit Composition as of 6/30/2024
Slide 10: A Favorable Geographic Footprint
Strategic Focus A Favorable Geographic Footprint Potential Markets for Growth Alabama: Auburn Dothan Huntsville Montgomery Florida: Destin Panama City Pensacola Georgia: Athens Atlanta Augusta Columbus Macon Mississippi: Hattiesburg Jackson Meridian South Carolina: Greenville Tennessee: Memphis Nash
Slide 11: 2Q2024 Highlights: Year-to-Date Earnings Improvement
Year-to-Date Earnings Improvement Punctuated by 2Q Margin Expansion $.04 growth in diluted EPS, comparing six months ended June 30, 2024 to six months ended June 30, 2023 2Q2024 diluted EPS of $0.34, consistent with 1Q2024, $.03 ahead of 2Q2023 Trailing 12 months diluted EPS of $1.37 First quarter o
Slide 12: Deposit Composition: A Stable Core Deposit Base
Deposit Composition A Stable Core Deposit Base
Slide 13: Loan Portfolio Trends: Quarterly Growth by Category
Loan Portfolio Trends Quarterly Growth by Category
Slide 14: Non-Residential CRE and Construction Portfolio Breakdown
Loan Portfolio Trends Non-Residential CRE and Construction Portfolio Breakdown Non-Residential CRE Breakdown as of 6/30/2024 Construction Breakdown as of 6/30/2024 Non-owner occupied office consists of 24 loans with an average loan size of $1.6 million. The properties are located in Tuscaloosa, AL,
Slide 15: Loan Portfolio Trends: Indirect Portfolio
Loan Portfolio Trends Indirect Portfolio This portfolio segment includes loans secured by collateral purchased by consumers in retail stores with whom the Company has an established relationship to provide financing if applicable underwriting standards are met. The collateral securing these loans ge
Slide 16: Indirect Portfolio Breakdown
Loan Portfolio Trends Indirect Portfolio Breakdown Indirect by Collateral as of 6/30/2024(1) Indirect by State as of 6/30/2024(1)(2) (1) Dollars in thousands (2) Represents state in which the participating dealer operates
Slide 17: Asset Quality Trends: Annualized Net Charge-offs
Asset Quality Trends Annualized Net Charge-offs
Slide 18: Net Charge-offs and ACL on Loans and Leases
Asset Quality Trends Annualized Net Charge-offs and ACL on Loans and Leases
Slide 19: Nonperforming Assets and Nonperforming Loans
Asset Quality Trends Nonperforming Assets and Nonperforming Loans Nonperforming Assets (1) Nonperforming Loans (2) Nonperforming assets: nonaccrual loans and OREO Nonperforming loans: nonaccrual loans
Slide 20: Recent Financial Trends: Net Interest Margin
Recent Financial Trends 5 Quarter Annualized Net Interest Margin Average rate including both interest-bearing and non-interest-bearing deposits Average rate on all interest-bearing liabilities and non-interest-bearing deposits
Slide 21: Profitability Metrics – Quarter Trend
Recent Financial Trends Profitability Metrics – 5 Quarter Trend (1) Calculations of tangible balances and measures are included in the Appendix
Slide 22: Balance Sheet Metrics – Quarter Trend
Recent Financial Trends Balance Sheet Metrics – 5 Quarter Trend
Slide 23: Year Financial Trends: Profitability Metrics
5 Year Financial Trends Profitability Metrics (1) Calculations of tangible balances and measures are included in the Appendix
Slide 24: Year Financial Trends: Balance Sheet Metrics
5 Year Financial Trends Balance Sheet Metrics
Slide 25: Share Price vs. Tangible Book Value
5 Year Financial Trends Share Price vs. Tangible Book Value (62% as of 06/30/2024)(1) (1) Calculations of tangible balances and measures are included in the Appendix
Slide 26: Risk Management: Equity Capital – Quarter Trend
Risk Management Equity Capital – 5 Quarter Trend (1) Calculations of tangible balances and measures are included in the Appendix.
Slide 27: Managing Liquidity and Investment Risk
Risk Management Managing Liquidity and Investment Risk Summary of Securities Portfolio The portfolio is structured with relatively short expected average lives in order to enhance liquidity Weighted average book yield was 3.11% in 2Q2024 Expected average life of securities in the portfolio was 4.3 y
Slide 28: Interest Rate Sensitivity
Risk Management Interest Rate Sensitivity The following table summarizes the forecasted impact on net interest margin and net interest income using a base case scenario given immediate upward and downward shocks in interest rates of 100, 200 and 300 basis points (“bps”) based on forecasted assumptio
Slide 29: Appendix: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 30: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data) (1) Calculation of Return on average tangible common equity (annualized) = ((net income (d) / number of days in period) * number of days in year) / average tangible shareholders’ equity (c)
Slide 31: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 32: www.firstusbank.com Contact
www.firstusbank.com Contact: Thomas S. Elley Chief Financial Officer telley@firstusbank.com 205.582.1200
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