John Marshall Bancorp, Inc. · NASDAQ:JMSB
John Marshall Bancorp — Shareholder Meeting (June 2023)
24 slides from John Marshall Bancorp's shareholder meeting presentation, Jun 21, 2023
Slide 1: Annual Shareholders' Meeting
June 20, 2023 Annual Shareholders’ Meeting 1
Slide 2: Forward Looking Statements
Forward Looking Statements 2 In addition to historical information, this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on certain assumptions and describe future plans, strategies and expectations of the Com
Slide 3: Company Overview
Company Overview 3 • Growth-oriented commercial bank headquartered in Reston, Virginia • Established in 2006, the Company has grown organically to over $2.35 billion in assets • Second largest community bank headquartered in Northern Virginia • Seasoned executive team with decades of in-market banki
Slide 4: Our Shareholder Value Proposition
Our Shareholder Value Proposition Rewarding Our Shareholders Attractive Market Credit Discipline Prime for Future Growth Experienced Management 4
Slide 5: 2022 Accomplishments
2022 Accomplishments 5 1 – FINANCIAL SUCCESS 2 – CONNECTED TO THE COMMUNITY 3 – ENHANCED VALUE FOR INVESTORS 4 – ATTACHED TO EFFICIENCY 5 –TIED INTO TECH
Slide 6: Strategic Priorities
Strategic Priorities 6 Provide an Exceptional Client Experience Expand In High Growth Markets Maintain Financial and Credit Discipline
Slide 7: Mission & Values
Mission & Values fi) HONESTY E & EXCELLENCE RESPONSIVENESS JOHN MARSHALL .
Slide 8: Selective FinTech partnerships provide operating leverage and fuel additional growth
8 Selective FinTech partnerships provide operating leverage and fuel additional growth Customer Experience Operating Efficiencies Risk Mitigation FinTech Partnership Benefits Various FinTech Partnerships Leveraging Technology
Slide 9: 2022 Financial Performance
$1.83 $2.25 2021 2022 2022 Financial Performance 9 1.25% 1.40% 2021 2022 Return on Average Assets 12.90% 15.18% 2021 2022 11.8% 17.7% 22.9% Return on Average Equity Diluted Earnings Per Share
Slide 10: 2022 Growth
2022 Growth 10 $2,149,309 $2,348,235 2021 2022 $1,666,469 $1,789,508 2021 2022 $1,881,553 $2,067,740 2021 2022 9.3% 7.4% 9.9% Total Assets Total Loans Total Deposits Dollars in thousands
Slide 11: First Quarter 2023 Recap
First Quarter 2023 Recap 11 • During the twelve months ended March 31, 2023, the Federal Reserve increased interest rates 4.75% (from 0.25% to 5.00%). • The rate hikes, intended to combat inflation, resulted in two significant bank failures (Silicon Valley and Signature banks) and one large bank’s d
Slide 12: First Quarter 2023 Recap
First Quarter 2023 Recap 12 0.0% 0.8% JMSB FDIC - All Banks 16.1% 15.1% JMSB FDIC - All Banks 4.1% -10.0% JMSB FDIC - All Banks FDIC – All Banks data is sourced from the FDIC’s Quarterly Banking Profile as of March 31, 2023. Asset Quality Nonperforming Assets / Assets Bank Capital Total Risk Based C
Slide 13: Strong Capital Position
Strong Capital Position 13 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 Leverage ratio Common equity tier 1 ratio Tier 1 risk-based capital Total risk-based capital ratio Ratios (%) Well-Capitalized Threshold December 31, 2022 March 31, 2023 Bank Regulatory Capital Ratios (As Reported)
Slide 14: Ample Liquidity to Cover Uninsured Deposits
Ample Liquidity to Cover Uninsured Deposits 14 • The Company’s liquidity position, defined as the sum of cash, unencumbered securities and available secured borrowing capacity, totaled $852.6 million as of March 31, 2023. • As of March 31, 2023, the Company’s liquidity position represented 117% of t
Slide 15: Credit Quality
Credit Quality 15 Nonperforming Assets¹ / Assets (%) 0.32% 0.01% 0.09% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.50% 1.00% 2015 2016 2017 2018 2019 2020 2021 2022 1Q2023 Net Charge-Offs / Loans (%) 0.08% 0.33% 0.07% 0.03% 0.01% 0.00% 0.01% 0.00% 0.00% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 2015 2016
Slide 16: Investment Portfolio as of March 31, 2023
Investment Portfolio as of March 31, 2023 16 U.S Treasuries and Gov't Agencies, 28.7% Agency Mortgage-Backed and Asset-Backed, 68.7% Municipal, 1.9% Corporate bonds, 0.6%
Slide 17: Loan Portfolio Composition as of March 31, 2023
Loan Portfolio Composition as of March 31, 2023 17 Commercial business, 2.3% Commercial owner-occupied real estate, 20.6% Retail Properties, 21.7% Industrial, 3.0% Warehouse, 1.9% Hotel/Motel, 2.3% Other Properties, 1.4% Office, 7.1% Construction & development, 10.2% Residential mortgage, 24.5% Mult
Slide 18: Funding Composition
Funding Composition 18 82.2% 81.2% 86.3% 81.8% 81.9% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 12/31/2019 12/31/2020 12/31/2021 12/31/2022 3/31/2023 Core Wholesale Deposit Composition
Slide 19: Stock Valuation
Stock Valuation 19 (1) Information sourced from S&P Capital IQ with share price data as of June 15, 2023 and Company financial data as of March 31, 2023. Peer Banks Ticker Company FNB F.N.B. Corporation UBSI United Bankshares, Inc. FULT Fulton Financial Corporation AUB Atlantic Union Bankshares Corp
Slide 20: Appendix
Appendix 20
Slide 21: Strong Capital Position
Strong Capital Position 21 (1) The above graph illustrates the impact of unrealized losses on the Company’s bond portfolio on the Bank’s regulatory capital ratios and are Non-GAAP financial measures. See reconciliation to most directly comparable GAAP measure in “Appendix – Reconciliation of Non-GAA
Slide 22: JMSB Return vs. Russell 2000 Index
JMSB Return vs. Russell 2000 Index 22 (1) Information sourced from Yahoo! Finance and indexcalculator.com with share price data as of December 31, 2022, March 31, 2023 and June 15, 2023 12.3% 14.8% 13.6% 8.1% 8.5% 6.7% June 2008 June 2011 November 2013 Annual Return Date of Initial Investment Return
Slide 23: Stock Valuation
Stock Valuation 23 Peer Banks Ticker Company FNB F.N.B. Corporation UBSI United Bankshares, Inc. FULT Fulton Financial Corporation AUB Atlantic Union Bankshares Corporation WSBC WesBanco, Inc. SASR Sandy Spring Bancorp, Inc. EGBN Eagle Bancorp, Inc. FRST Primis Financial Corp. SMMF Summit Financial
Slide 24: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures 24 (1) Includes tax benefit calculated using the federal statutory tax rate of 21%. (2) The total risk-based capital ratio is calculated by dividing total risk-based capital by risk weighted assets. (3) The tier 1 capital ratio is calculated by dividing tier 1
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