Uscb Financial Holdings, Inc. · NASDAQ:USCB
Uscb Financial — Q4 2022 Earnings Presentation
22 slides from Uscb Financial's earnings presentation, Jan 26, 2023
Slide 1: Fourth Quarter 2022 Earnings Presentation
Exhibit 99.2 USBC FINANCIAL HOLDINGS Fourth Quarter 2022 Earnings Presentation January 27, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain statements that are not historical in nature and are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. The words
Slide 3: Q4 2022 Highlights
Q4 2022 Highlights Capital/ Credit Credit metrics remain strong. There were no loans classified as nonperforming. ACL coverage ratio was 1.16%. No shares repurchased during the quarter; Board approved repurchase program in place covering 750,000 shares of common stock. Profitability Net income was $
Slide 4: Historical Financial Data
Historical Financial Data (EOP for Balance Sheet amounts) Loans (1) in millions $735 $1,507 Deposits in millions $782 $1,829 Total stockholder’s equity in millions $86 $182 ACL/Total Loans 1.17% 1.16% Net Charge Off in thousands ($1,019) $65 Nonperforming Assets/Total Assets 1.58% 0% Total Revenue i
Slide 5: Business Verticals
Business Verticals JA/PCG(1) Deposits EOP $172 Million 33% Growth YoY Loans EOP $9 Million 266% Growth YoY HOA(2) Deposits EOP $97 Million 42% Growth YoY Loans EOP $73 Million 59% Growth YoY Global Deposits EOP $177 Million 14% Growth YoY Loans EOP $94 Million 58% Growth YoY Yachts Loans EOP $125 Mi
Slide 6: Financial Results
Financial Results In thousands (except per share data) Balance Sheet (EOP) Total Securities $418,839 $427,436 $524,200 Total Loans (1) $1,507,338 $1,431,513 $1,190,081 Total Assets $2,085,834 $2,037,453 $1,853,939 Total Deposits $1,829,281 $1,796,642 $1,590,379 Total Equity (2) $182,428 $177,417 $20
Slide 7: Key Performance Indicators
Key Performance Indicators Capital/Credit Profitability Growth Q4 2022 Q3 2022 Q4 2021 Tangible Common Equity/Tangible Assets(1) 8.75% 8.71% 11.00% Total Risk-Based Capital 13.65% 13.65% 14.92% NCO/Avg Loans (2) (0.00%) 0.03% (0.05%) NPA/Assets 0.00% 0.00% 0.06% Allowance Credit Losses/Loans 1.16% 1
Slide 8: Loan Portfolio
Loan Portfolio Total Loans (AVG) In millions $1,159 $1,211 $1,296 $1,399 $1,457 $51 $35 $18 $7 $1 $1,108 $1,176 $1,278 $1,392 $1,455 Loans (Exd PPP) PPP Loans Loan Yields 4.32% 4.35% 435.00% 4.53% 4.86% 0.33% 0.28% 13.00% 0.03% 0.04% 3.99% 4.07% 4.22% 4.50% 4.82% Loan coupon Loan fees + 83 bps Q4’22
Slide 9: Loan Production
Loan Production Net Loan Production Trend In millions $119 $106 $141 $74 $169 $56 $130 $71 $129 $54 Laon Production/Line changes Loan Amortization/payoffs Commentary 2022 payoffs slowing with increase in interest rates. $569 million was originated in 2022. Average coupon on new loans was 5.68% for f
Slide 10: Loan Portfolio Mix
Loan Portfolio Mix Loan Portfolio Mix 9% 12% 10% 55% 8% 6% Residential real estate CRE – Owner Occupied CRE – Non-owner occupied Commercial and industrial Global Banking Consumer and other Commentary Total Loan balances at quarter end was $1,507.3 million. Commercial Real Estate (owner occupied and
Slide 11: Asset Quality
Asset Quality Allowance for Credit Losses In thousands (except ratios) 1.31% 1.22% 1.16% 1.16% 1.16% 1.27% 1.20% 1.15% 1.16% 1.16% $15,057 $15,074 $15,786 $16,604 $17,487 Allowance for credit losses ACL/Total loans ACL/Total loans excluding PPP loans Commentary ACL coverage ratio is at 1.16%. No loa
Slide 12: Deposit Portfolio
Deposit Portfolio Deposits (AVG) In millions $1,562 $1,650 $1,717 $1,763 $1,804 $228 $223 $224 $217 $217 $674 $736 $781 $823 $871 $56 $65 $67 $67 $62 $604 $626 $645 $656 $654 Non-interest-bearing deposits Money market and savings Interest-bearing checking deposits Time deposits Deposit Cost (1) 0.25
Slide 13: Net Interest Margin
Net Interest Margin Net Interest Income/Margin (1) In thousands (except ratios) 3.19% 3.22% 3.37% 3.47% 3.45% 3.06% 3.05% 3.27% 3.45% 3.45% $14,076 $14,379 $15,642 $16,774 $16,866 Net Interest Income NIM NIM excluding PPP Loans Interest-Earning Assets Mix (AVG) 5% 5% 4% 4% 3% 28% 28% 26% 23% 22% 3%
Slide 14: Paycheck Protection Program (PPP)
Paycheck Protection Program (PPP) 3 successful rounds of PPP loans, originating $168.4 million. Forgiveness of the last round of PPP loans is in process. In thousands (except for ROAA) Q4 2022 Q3 2022 Q4 2021 Pre-Tax Income $5,849 $7,521 $7,401 Net Income $4,434 $5,558 $5,650 Average Assets $2,051,8
Slide 15: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio Repricing Profile by Rate Type Hybrid ARM 5% Variable Rate 57% Fixed Rate 38% 17% 16% 67% Prime CMT LIBOR 31% 6% 10%53% yrs 1-2 yrs. 2-3 yrs >3 yrs Static NII Simulation Year 1 & 2 Year 1 Years 2 -$6.74 -$16.00 $11.91 $16.44 -1.0% -2.3% 1.6% 2.2% Net Interest
Slide 16: Non-interest Income
Non-interest Income In thousands (except ratios) Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Service fees $1,093 $934 $1,083 $900 $961 Gain (loss) on sale of securities available for sale (1,989) (558) (3) 21 35 Gain on sale of loans held for sale 205 330 22 334 107 Gain on sale of other assets - - - -
Slide 17: Non-interest Expense
Non-interest Expense In thousands (except ratios and FTE) Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Salaries and employee benefits $6,080 $6,075 $5,913 $5,875 $5,634 Occupancy 1,256 1,281 1,251 1,270 1,267 Regulatory assessments and fees 222 269 226 213 93 Consulting and legal fees 371 604 398 517 539
Slide 18: Capital
Capital Capital Ratios Q4 2022 Q3 2022 Q4 2021 Well-Capitalized Leverage Ratio 9.61% 9.48% 9.55% 5.00% TCE/TA (1) 8.75% 8.71% 11.00% NA Tier 1 Risk Based Capital 12.53% 12.56% 13.70% 8.00% Total Risk Based Capital 13.65% 13.65% 14.92% 10.00% Commentary All capital ratios remain significantly above “
Slide 19: Takeaways
Takeaways Leading Franchise Located in one of the Most Attractive Banking Markets in Florida and the U.S. Experienced and Tested Management Team Robust Organic Growth Strong Asset Quality, with Minimal Charge-offs Experienced Since Recapitalization Strong Profitability, with Pathway For Future Enhan
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except ratios) 7 As of or for the three mouths ended 12/31/2022 44834 6/30/2022 3/31/2022 12/31/2021 Pre-Tax Pre-Provision ("PTPP") Income: Net income $ 4.434 $ 5.558 $ 5.295 $ 4.854 $ 5.650 Plus: Provision for income taxes 1,415 1.963 1.708 1.858 1.751 Plus: Pr
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except per share data) As of and for the three months ended 12/31/2022 9/30/2022 6/30/2022 3/31/2022 12/31/2021 tangible Book Value per Common Share (at period-end):11 ' Total stockholders' equity S 182.428 s 177.417 s 180.06S S 192.039 S 203.897 Less: Intangibl
Slide 22: Contact Information
Contact Information Lou de la Aguilera President, CEO & Director (305) 715-5186 laguilera@uscentury.com Rob Anderson Chief Financial Officer (305) 715-5393 rob.anderson@uscentury.com Investor Relations InvestorRelations@uscentury.com 22
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