Pcb Bancorp · NASDAQ:PCB
Pcb Bancorp — Pacific City Financial — Shareholder Meeting (May 2019)
18 slides from Pcb Bancorp's shareholder meeting presentation, May 23, 2019
Slide 1: 2019 Annual Shareholders' Meeting
2019 Annual Shareholders’ Meeting May 23, 2019
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation (and oral statements made regarding the subject of this presentation) contains certain “forward- looking statements” that are based on various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties
Slide 3: 2019 First Quarter Financial Highlights
2019 First Quarter Financial Highlights As of or For the Quarter Ended 3/31/2019 12/31/2018 3/31/2018 Q1 2019 Net income of $6.6 million or $0.40 per diluted Income Statement Summary(1) Interest Income $ 22,952 $ 23,231 $ 18,628 share Interest Expense 5,799 5,375 3,334 Net Interest Income 17,153 17,
Slide 4: Pacific City Profile
Pacific City Profile Equity Information(1) Franchise Footprint NASDAQ: PCB Share Price: $18.32 52 Week Range: $13.36 - $20.95 Market Cap: $293.4 million Total Outstanding Shares: 16,017,040 (1) As of April 30, 2019 4 your Partner • Choice • Bank
Slide 5: Recent Highlights
Recent Highlights Completed $45.0 million IPO by issuing 2,508,234 new shares IPO PCB stock began trading on NASDAQ on August 10, 2018 17 consecutive quarters of quarterly cash dividend Cash Dividend Increased quarterly cash dividend from $0.03 to $0.05 per common share (January 23, 2019) and Increa
Slide 6: Strong Asset and Loan Growth
Strong Asset and Loan Growth Total Assets ($ in millions) Held-for-Investment (HFI) Loans ($ in millions) CAGR +16.6% CAGR +15.3% $1,697 $1,718 $1,442 $1,339 $1,343 $1,227 $1,190 $1,043 $1,031 $844 $894 $733 2014 2015 2016 2017 2018 1Q 2019 2014 2015 2016 2017 2018 1Q 2019 6 your Partner • Choice •
Slide 7: Diversified Loan Portfolio
Diversified Loan Portfolio HFI Loans ($ in millions) HFI Loan Compositions (1) $1,343 Commercial Property - $1,339 Consumer Residential Property 18% Owner Occupied $1,190 $237 2% $234 22% $1,031 $169 $26 $25 $140 $34 $844 $34 $733 $129 $115 $29 $858 $860 $30 $816 Commercial and Industrial $717 16% $
Slide 8: Excellent Asset Quality
Excellent Asset Quality (1) Non-performing Assets (NPAs) NPAs/ Total Assets $6.5 0.72% $3.3 $2.4 $2.4 $1.7 0.23% 0.23% $1.1 0.19% 0.06% 0.10% 2014 2015 2016 2017 2018 1Q 2019 2014 2015 2016 2017 2018 1Q 2019 Allowance for Loan Losses to HFI Loans Non-performing Loan (NPL) Coverage(2) 1.29% 1241% 1.1
Slide 9: Strong Asset Quality Relative to Peers
Strong Asset Quality Relative to Peers* (1)(2) NPAs/(Total Loans + OREO) 1.18% 0.89% 0.26% 0.22% 0.18% 0.17% 0.12% 0.11% Hope Hanmi Open Shinhan US Metro CBB PCB Woori America America (1) As of March 31, 2019 (2) Sources: UBPR * Korean American banks operating in Southern California 9 your Partner •
Slide 10: Consistent Deposit Growth
Consistent Deposit Growth Total Deposits ($ in millions) CAGR +14.9% $1,444 $1,448 $1,092 $1,251 $803 $939 2014 2015 2016 2017 2018 1Q 2019 10 your Partner • Choice • Bank
Slide 11: Solid Core Deposit Growth
Solid Core Deposit Growth (2) Core Deposit Trend ($ in millions) Total Deposit Compositions (1) (1) Core Deposit Non-Core Deposit CAGR +13.3% CAGR +20.2% NOW, Savings, and MMDA 20% Non-Jumbo CD 31% $1,444 $1,448 $1,251 $324 Demand Deposits $1,092 $367 State CD $939 $282 23% $803 $224 Jumbo CD 8% $18
Slide 12: Strong Profitability
Strong Profitability Net Income ($ in millions) Diluted EPS $24.3 $1.65 $16.4 $1.11 $1.21 $11.8 $12.2 $14.0 $1.00 $1.02 $6.6 $0.40 (1) (1) 2014 2015 2016 2017 2018 1Q 2019 2014 2015 2016 2017 2018 1Q 2019 Return on Average Assets Return on Average Equity 1.53% 1.57% 14.7% 13.1% 14.3% 1.46% 1.25% 1.2
Slide 13: NIM and Efficiency Ratio Stable
NIM and Efficiency Ratio Stable Margin Trend Efficiency Ratio Below Peer Average (1) 6.33% 6.08% 5.54% 5.27% 5.14% 5.21% 66.62% 65.29% 63.71% 62.07% 61.83% 62.36% 4.18% 4.22% 4.23% 4.22% 4.09% 3.89% 1.62% 56.50% 56.85% 54.92% 51.97% 52.79% 52.60% 1.27% 0.69% 0.71% 0.70% 0.85% (2) (2) 2014 2015 2016
Slide 14: Solid Capital Ratios and BV Per Share
Solid Capital Ratios and BV Per Share Bank Capital Ratios(1) BV Per Share CAGR +15.7% 17.4% 16.4% 16.4% 12.7% (2) 10.0% $13.16 $13.57 $10.60 (2) $9.48 (2) 8.0% $7.31 $8.26 (2) 6.5% 5.0% Tier 1 Leverage CET 1 Capital Tier 1 Capital Total Captial 2014 2015 2016 2017 2018 1Q 2019 (1) As of March 31, 20
Slide 15: Increasing Shareholders' Value
Increasing Shareholders’ Value Quarterly Dividend Per Share 20.0% $0.060 $0.060 66.7% $0.050 $0.050 10.0% 10.0% $0.030 $0.030 $0.030 $0.030 $0.030 $0.030 $0.030 $0.030 $0.030 $0.027 $0.027 $0.027 $0.027 $0.027 $0.025 $0.025 $0.025 $0.025 (1) (1) (2) Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317
Slide 16: Name Change
Name Change Pacific City PCB Financial Bancorp Corporation 16 your Partner • Choice • Bank
Slide 17: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Core Deposits are a non-GAAP measure that we use to measure the portion of our total deposits that are thought to be more stable, lower cost and reprice less frequently on average in a rising rate environment. We calculate core deposits as total deposits less time
Slide 18: Thank You!
“Thank You!” 18
Pacific City Financial — Shareholder Meeting (May 2019) on 6ix