First Bancshares, Inc. · OTC:FIBH
First Bancshares — Investor Presentation (July 2020)
21 slides from First Bancshares's investor presentation, Jul 28, 2020
Slide 1: The First Bancshares, Inc. July 2020
-@ Thekirst TheFirst BANCSHARES, INC. July 2020 NASDAQ: FBMS
Slide 2: Forward-looking statements
This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Slide 3: The First Bancshares: Building Shareholder Value
The First Bancshares: Building Shareholder Value 3
Slide 4: Overview of The First Bancshares, Inc.
Overview of The First Bancshares, Inc. 4 Bank Headquartered in Hattiesburg, MS in 1996 84 Locations in Gulf South: MS, LA, AL, FL & GA Revenues of $175.7 Million LTM Assets of $5.1 Billion at June 30, 2020 5th Largest Bank Headquartered in Mississippi # of Employees – 793 Stock Traded on Nasdaq – Sy
Slide 5: Franchise Footprint
Franchise Footprint FBMS Branch (68) SGB (8) FBMS LPO (2) FFB (6) Jackson Mobile Baton Rouge Tallahassee New Orleans Columbus Shreveport Jacksonville Destin Pensacola Albany Moultrie Valdosta Panama City Beach Birmingham Huntsville Montgomery Atlanta Hattiesburg 5
Slide 6: Organic and Acquisitive Growth
Organic and Acquisitive Growth December 31, 2009 June 30, 2020 Total Assets ($mm) 2010 – Q2 ‘20 CAGR: 28% Source: S&P Global Market IntelligenceData as of 12/31 of each year, respectively; Q2 ’20 data as of 6/30/20 FBMS Branch (9) FBMS Branch (82) FBMS LPO (2) 6
Slide 7: Historical Performance Over Time
Historical Performance Over TimeNinth Year of Record Earnings EPS Net Income ($mm) $0.82 $1.16 $0.96 $1.19 $1.55 $1.57 $1.11 $1.62 1.75% 2.03% 1.80% 1.93% 1.87% 1.73% 1.79% 1.75% $2.55 7 Pre-tax Pre Provision Income ($mm) PTPP ROA
Slide 8: Historical Profitability Trends
Historical Profitability Trends 8 Reported ROAA (%) Source: S&P Global Market Intelligence, Company Documents Data as of or for the three months ended each respective quarter(1) Refer to appendix for “Non-GAAP Reconciliation” * Inclusive of $7.0 million bargain purchase gain Adjusted ROAA (%) (1) Re
Slide 9: Building Franchise Value: Six Acquisitions Closed 2018-20
9 First Community BankMobile MSA Sunshine Community BankTallahassee MSA FMB Banking CorporationTallahassee MSA FPB FinancialCorp.Hammond MSA First Florida Bancorp, Inc.Destin MSA Southwest Georgia Financial CorporationValdosta MSA The First Gained Date Closed March 1, 2018 April 1, 2018 November 1,
Slide 10: Balance Sheet Composition by State
Balance Sheet Composition by State 10 2015 Deposits by State June 30, 2020 Deposits by State Source: S&P Global Market Intelligence and Company Documents 2009 and 2015 data as of June 30 2015 Loans by State June 30, 2020 Loans by State 2009 Loans by State 2009 Deposits by State
Slide 11: Market Demographics
Market Demographics 11 ‘20 – ‘25 Projected Population Growth (%) ‘20 – ‘25 Projected Median HHI Growth (%) 2025 Projected Median HHI ($) Source: S&P Global IntelligenceDeposit data as of 6/30/19Demographic data deposit weighted by county
Slide 12: Market Information and Historical Pricing
12 2012 2013 2014 2015 2016 2017 2018 2019 Q1 ‘20 Q2 ‘20 Average Stock Price ($) $9.21 $12.99 $14.54 $16.40 $18.88 $29.06 $35.08 $31.79 $30.00 $20.32 Average Market Capitalization ($)In Millions $28.5 $57.3 $75.8 $88.1 $101.4 $277.4 $455.0 $542.9 $564.4 $433.3 Average Daily Volume (shares) 1,679 3,8
Slide 13: Overview of Potential Whole Bank Opportunities
13 Overview of Potential Whole Bank Opportunities Source: S&P Global Market IntelligenceData as of most recent quarter availableNote: Excludes banks and thrifts in north Georgia, greater Atlanta region and only includes the Florida panhandle; excludes merger targets and MHCs Opportunities by State O
Slide 14: Seven Reasons To Invest in The First
Nine Years of Record Earnings Superior Performance and Execution Strategically Focused on Acquisitive and Organic Growth Strong Capital Structure Situated in Growing Markets Shareholder Value and Return Demonstrated Successful Leadership Team 14 Seven ReasonsTo Invest in The First
Slide 15: Historical Balance Sheet Growth
Historical Balance Sheet Growth 15 Assets ($mm) Source: S&P Global Market IntelligenceData as of 12/31 of each year, respectively; Q2 ’20 data as of 6/30/20 Loans ($mm) Deposits ($mm) 2010 – Q2 ‘20 CAGR: 28% 2010 – Q2 ‘20 CAGR: 27% 2010 – Q2 ‘20 CAGR: 28%
Slide 16: Net Interest Income Over Time
Net Interest Income Over Time 16 3.74% 3.99% 3.59% 3.44% 3.70% 3.72% 3.71% 3.97% 4.08% Net Interest Income ($mm) NIM 4.05% 3.83% 3.93% 4.06% 3.89% 3.93% 4.07% 3.63% 4.00%
Slide 17: Execution of Strategic Vision
Execution of Strategic Vision 17 Source: S&P Global Market Intelligence, Company documentsPricing data as of 7/20/20 Price Performance since 12/31/08 In 2009, FBMS formulated a strategic vision focused on branch expansion and acquisition of banks with assets less than $500 million in MS, AL, LA, FL
Slide 18: Executing Upon Growth Strategy
Note: Assets shown as of next quarter after close; Dates are as of transaction close, unless otherwise specifiedSource: S&P Global Market Intelligence Executing Upon Growth Strategy Tangible Book Value Per Share Growth 18 Building Upon a Proven Track Record 12/31/19 12/31/18 12/31/17 12/31/16 12/31/
Slide 19: Successful Leadership Team
19 Successful Leadership TeamExecutives E. Ricky GibsonChairmanDirector for 25 YearsSuccessful Entrepreneur for 31 Years M. Ray “Hoppy” Cole, Jr.President/CEO33 Years of Experience Dee Dee LoweryExecutive VP, CFO29 Years of Experience
Slide 20: Successful Leadership Team
Ion MixonExecutive VP, Risk Manager20 years experience Eric WaldronPresident, Mississippi Region24 years experience Carol DanielExecutive VP, Credit Administrator37 years experience Chris RyalsExecutive VP, COO25 years experience Jarrett NicholsonExecutive VP, Chief Administrative Officer26 years ex
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation “he Fra Bancchares nc Adjusted Return Ratios ‘Three Months Ended wne30, -March3i, December, September30, June 20, (Dotersin thousands) 2020 2020 2019 209 2019 Net ncome avaiblete Common sis9as seat suas saa suis ‘Adjustments: ‘Add: scquisitoncharges 2285 70 2300 ms a Lase:Tax