ENB Financial Corp · OTC:ENBP
ENB Financial — Shareholder Meeting (May 2023)
28 slides from ENB Financial's shareholder meeting presentation, May 10, 2023
Slide 1: Annual Shareholder Meeting May 9, 2023
ANNUAL SHAREHOLDER MEETING MAY 9, 2023
Slide 2: Agenda
Agenda • Welcome • Reading of the Minutes • Meeting Certification • Matters of Proxy – Voting • Discussion of Company Condition – President’s Remarks – Financial Review • Voting Results • Questions & Answers • Adjournment
Slide 3: Presenters
Presenters Jeffrey S. Stauffer President, CEO & Chairman of the Board – ENB Financial Corp and Ephrata National Bank Adrienne L. Miller, Esq. Vice President and Corporate Secretary – ENB Financial Corp Senior Vice President and Legal Counsel – Ephrata National Bank Rachel G. Bitner Treasurer – ENB F
Slide 4: Meeting Certification
Meeting Certification Presented by: Adrienne L. Miller, Esq. Corporate Secretary - ENB Financial Corp
Slide 5: Matters of Proxy
Matters of Proxy 1. Elect three (3) Class C directors to serve a 3 - year term 2. To ratify the selection of S.R. Snodgrass, PC as the independent registered public accounting firm for the year ending December 31, 2023 3. Transact such other business as may be properly presented here today
Slide 6: Election of Directors – Class C
Matters of Proxy Elect three (3) Class C directors to serve a 3 - year term Election of Directors – Class C Joshua E. Hoffman, MBA, CPA, CMA, CPCU, AAI Susan Young Nicholas, Esquire Mark C. Wagner
Slide 7: Continuing Directors
Continuing Directors Continuing Directors – Class A Brian K. Reed, DVM, MBA Jeffrey S. Stauffer J. Daniel Stoltzfus Continuing Directors – Class B Willis R. Lefever Jay S. Martin, CISSP Judith A. Weaver Roger L. Zimmerman
Slide 8: Voting Process
Voting Process Presented by: Adrienne L. Miller, Esq. Corporate Secretary - ENB Financial Corp
Slide 9: Voting Process: Proxy Holders and Judges of Election
Voting Process Proxy Holders • Mary E. Leaman • John H. Shuey Judges of Election • Paul W. Wenger • Roger S. Kline • John L. Weber
Slide 10: President's Remarks
President’s Remarks Presented by: Jeffrey S. Stauffer President , CEO & Chairman of the Board - ENB Financial Corp
Slide 11: Executive Team
Executive Team Jeffrey S. Stauffer President, CEO & Chairman of the Board Chad Neiss SEVP, Chief Strategy Officer & Head of Mortgage Division, Interim COO Bill Kitsch SEVP, Chief Revenue Officer Rachel Bitner Treasurer EVP, Chief Financial Officer Cindy Cake EVP, Chief Human Resources Officer Adrien
Slide 12: Mission Statement
Mission Statement To remain an independent community bank of undisputed integrity so the communities we serve benefit from our prosperity. To help our employees find career fulfillment through professional growth, personal empowerment and mutual achievement. To help our customers achieve financial h
Slide 13: Executing a Plan for Future Success
Executing a Plan for Future Success ENB 2022 – 2024 Strategic Planning Objectives 1. Evolve Purposeful Leadership Capabilities 2. Achieve Operational Excellence 3. Develop a Robust Sales Culture 4. Manage Risk to Achieve Greater Profitability 5. Pursue Emerging Opportunities that Align with our Miss
Slide 14: Commitment To Our Communities
Commitment To Our Communities
Slide 15: 2022 Financial Results
2022 Financial Results Presented by: Rachel G. Bitner Treasurer - ENB Financial Corp
Slide 16: Disclosures
Disclosures Unaudited Financial Information Some of the following slides present financial information that is unaudited. Therefore, this information is subject to adjustments that could be necessary upon completion of the annual audit. Forward Looking Statements Some of the material and/or language
Slide 17: Net Income
Net Income 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 2018 2019 2020 2021 2022 6,910 11,395 12,299 14,916 14,631
Slide 18: Significant Items
Significant Items Dollars in Thousands 2022 $ 2021 $ Incr./ Decr . $ Incr./ Decr . % Net Interest Income 50,583 40,571 10,012 24.7 Provision for Credit Loss 1,300 475 825 173.7 Other Income 12,252 11,301 951 8.4 Gains on the Sale of Mortgages 1,302 5,526 (4,224) - 76.4 Security Gains 10 1,054 (1,044
Slide 19: 2022 Balance Sheet Growth
2022 Balance Sheet Growth Total Assets up $141.5 million + 8.2% Total Loans up $270.2 million + 29.3% Total Deposits up $126.7 million + 8.4% Total Capital down $40.0 million - 29.1%
Slide 20: Capital Position
Capital Position 12/31/22 09/30/22 06/30/22 03/31/22 12/31/21 Total Stockholders’ Equity $97,335 $86,155 $101,401 $116,039 $137,288 Accumulated Other Comprehensive Income (Loss) $(48,292) $(55,381) $(36,816) $(20,298) $3,441
Slide 21: Performance Ratios
Performance Ratios 2022 % 2021 % 2020 % Return on Average Assets (ROA) 0.83 0.95 0.96 Return on Average Equity (ROE) 13.63 11.16 10.16 Net Interest Margin 3.03 2.81 3.24 Efficiency Ratio 70.28 69.08 67.19
Slide 22: Per Share Data
Per Share Data 2022 2021 2020 Earnings Per Share $2.62 $2.68 $2.20 Dividends Per Share $0.68 $0.67 $0.64 Dividend Payout Ratio 25.95% 25.00% 29.09 % Stock Price at Year - End 16.00 21.70 18.60
Slide 23: 2022 Peer Analysis
2022 Peer Analysis * As of 12/31/22 Measurement ENBP % Peer Median % Return on Average Assets 0.83 1.12 Return on Average Equity 13.63 13.52 Net Interest Margin 3.03 3.36 Efficiency Ratio 70.28 58.99 Revenue/full - time equivalent 220 265 * Peer data consists of the Corporation’s strategic plan peer
Slide 24: 2022 Peer Analysis
2022 Peer Analysis * as of 12/31/22 Measurement ENBP % Peer Median % Tangible Capital to Assets 5.24 7.09 Tier 1 Ratio 13.38 13.26 Total Capital Ratio 14.52 14.33 Non - Performing Assets/Total Assets 0.23 0.32 Allowance for Credit Losses/Total Loans 1.19 1.15 * Peer data consists of the Corporation’
Slide 25: First Quarter 2023 Results (Unaudited)
First Quarter 2023 Results (Unaudited) Earnings: $2.4 million, down $750,000 , or 23.5% from Q1 2022. - CECL impact, increased cost of funds ROA: 0.53% ROE: 9.76% Net Interest Income: Up $3,083,000 , or 28.8% Net Interest Margin: 3.08% Loan Growth: 32.2% over 3/31/22 balances
Slide 26: Voting Results
Voting Results Presented by: Adrienne L. Miller, Esq. Corporate Secretary - ENB Financial Corp
Slide 27: Questions & Answers
Questions & Answers
Slide 28: Annual Shareholder Meeting May 9, 2023
ANNUAL SHAREHOLDER MEETING MAY 9, 2023