Oak View Bankshares Inc. · OTC:OAKV
Oak View Bankshares — Investor Presentation (April 2025)
43 slides from Oak View Bankshares's investor presentation, April 2025
Slide 1: Oak View Bankshares, Inc. Investor Presentation
Oak View Bankshares, Inc. (OTCPK:OAKV) Investor Presentation March-April 2025
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation of Oak View Bankshares, Inc. (the “Company” or “OAKV”) may contain forward-looking statements that are subject to risks and uncertainties. Any statements in this presentation about expectations, beliefs, plans, objectives, assump
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to financial measures presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this presentation contains certain non-GAAP financial measures, including, without limitation, tangible common equity (TCE), tangible assets (TA), and th
Slide 4: Table of Contents
Table of Contents I Executive Summary 5 II Market Overview 16 III Financial Highlights 21 IV Appendix 31 4
Slide 5: I. Executive Summary
I. Executive Summary 5
Slide 6: Company Overview
Company Overview Corporate Overview Franchise Map “Passionate Community Banking” Shares of Oak View Bankshares, Inc. trade Over-The-Counter (OTCPK:OAKV) Single-bank holding company (Oak View Bankshares, Inc.) is 100% owner of one bank subsidiary, Oak View National Bank (the “Bank”) Insider own
Slide 7: Company Highlights
Company Highlights Experienced Management and Board of Directors aligned with shareholders The management team has a total of 48 years of experience working for the Bank and 145 years of total banking experience (1) Management and the Board own 10.4% of shares outstanding as of December 31, 2024
Slide 8: Experienced Management Team
Experienced Management Team Michael A. Ewing – Chairman & Chief Executive Officer Mr. Ewing has served as Chief Executive Officer and Director of the Bank since 2009. Mr. Ewing has served as Chairman since August 2021. Mr. Ewing was Executive Vice President and Senior Credit Officer of Marshall Nati
Slide 9: EPS Growth Meaningfully Outpacing Peers
EPS Growth Meaningfully Outpacing Peers OAKV has grown EPS at a CAGR of ~28% for the last ten years (1). Over the same time frame, OAKV’s peers have grown EPS at a CAGR of ~10% (1, 2). $2.25 $2.07 $2.00 $1.75 $1.50 $1.43 $1.25 $1.03 $1.00 $0.84 $0.75 $0.70 $0.69 $0.59 $0.50 $0.39 $0.31 $0.29 $0.25 $
Slide 10: TBVPS Growth Also Outpacing Peers
TBVPS Growth Also Outpacing Peers OAKV has grown TBVPS (1) at a CAGR of ~8% for the last ten years (2). Over the same time frame, OAKV’s peers have grown TBVPS (1) at a CAGR of ~5% (2, 3). $14.00 $13.08 $13.00 $12.00 $11.05 $11.00 $10.00 $9.69 $9.08 $9.14 $9.00 $8.41 $8.00 $7.70 $7.09 $7.00 $6.80 $6
Slide 11: Lower-Risk Balance Sheet…
Lower-Risk Balance Sheet… NPAs / Assets NCOs / Avg Loans 1.00% 0.08% All OAKV charge-offs shown are from overdrawn deposit 0.80% accounts 0.06% 0.60% 0.04% 0.40% 0.02% 0.20% 0.00% 0.00% 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 Loans / Deposits AOCI / Total
Slide 12: … Delivering Superior Results
… Delivering Superior Results Core ROAE (1) Core ROATCE (1) 25.00% 25.00% 20.00% 20.00% 15.00% 15.00% 10.00% 10.00% 5.00% 5.00% 0.00% 0.00% 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 Core ROAA (1) Noninterest Expense / Avg. Assets 1.25% 3.50% 1.00% 3.00% 0.75
Slide 13: Significant Total Returns to Shareholders Over Multiple Time Horizons
Significant Total Returns to Shareholders Over Multiple Time Horizons OAKV National Peers Regional Peers State Peers 140% 130.9% 120% 100% 80% 67.8% 60% 46.4% 44.4% 43.8% 39.6% 40% 20% 15.5% 15.8% 15.1% 5.5% 0.0% 1.8% % 1-Year Total Return 3-Year Total Return 5-Year Total Return Source: S&P Capital
Slide 14: OAKV Share Price Performance
OAKV Share Price Performance Share price and volume for the last five years. Share Price Volume OAKV Current Valuation Metrics (as of 03/20/25) $18.00 180,000 Closing Share Price ($) 14.79 $16.00 Market Capitalization ($mm) 43.3 160,000 Common Shares Outstanding (#) 2,927,175 Three-month Daily Avg.
Slide 15: OAKV Dividend History
OAKV Dividend History OAKV began paying dividends in February of 2021 and has paid annual dividends in the first quarter of each subsequent year. OAKV paid a dividend of $0.27 per share to shareholders of record on January 30, 2025. Common Dividends Declared per Share $0.30 $0.27 $0.25 $0.20 $0.20 $
Slide 16: II. Market Overview
II. Market Overview 16
Slide 17: Strong Market Share
Strong Market Share Deep presence in some of Virginia’s most desirable markets Loan and deposit customers in Fauquier, Culpeper, Rappahannock, Loudoun, and Prince William Counties Community Bank (1) Rankings Fauquier, VA | County 2024 2024 2024 2024 Deposits Mkt. Share Rank Institution (ST) Bran
Slide 18: Serving Attractive, High-Growth Markets
Serving Attractive, High-Growth Markets 2025-2030 2025-2030 Projected 2025 Median Projected Median Population Percentile of Household Percentile of Household Percentile of Market Growth VA Counties Income VA Counties Income Growth VA Counties Fauquier County, VA 2.4% 61% $134,532 96% 12.7% 97% Culpe
Slide 19: Primary Market Overview
Primary Market Overview Fauquier County Market Highlights Population of 75 thousand (1, 2) and expected to grow 2.4% through 2030 (2) Fauquier County includes two Oak View National Bank branches Median household income for this county is $135 thousand vs. VA average of $93 thousand (1, 2) Un
Slide 20: Secondary Market Overview
Secondary Market Overview Culpeper County Market Highlights Population of 56 thousand (1, 2) and expected to grow 6.0% through 2030 (2) Culpeper County includes one Oak View National Bank branch Median household income for this county is $104 thousand vs. VA average of $93 thousand (1, 2) Un
Slide 21: III. Financial Highlights
III. Financial Highlights 21
Slide 22: Disciplined Balance Sheet Growth
Disciplined Balance Sheet Growth Total Assets Total Deposits ($ in millions) ($ in millions) $800 $800 $694 $600 $600 $600 $589 $498 $400 $400 $474 $428 $345 $285 $300 $200 $200 $240 – – 2020Y 2021Y 2022Y 2023Y 2024Y 2020Y 2021Y 2022Y 2023Y 2024Y TotalDeposits Total Loans Total TotalEquity Equity(1)
Slide 23: Deposit Growth & Composition
Deposit Growth & Composition Core Deposit (1) Trends Bank Regulatory Deposit Composition OAKV has grown core deposits (1) at a CAGR of ~18% for the last four Retail Time Jumbo Time years (2). Over the same time frame, OAKV’s peers have grown core (<250k) (>250k) deposits (1) at a CAGR of ~6% (2, 3).
Slide 24: Loan Portfolio Diversification & Growth
Loan Portfolio Diversification & Growth Oak View National Bank Total Loans 12/31/24 Bank Loan Composition – Regulatory Classification ($ in millions) Commercial & Industrial, $400 7.7% Consumer & Other, 2.3% Ag. Prod., 0.1% 1-4 Family, Multifam, 48.0% 1.1% $300 $320 Farm, $304 0.8% Constr & Land Own
Slide 25: Securities Portfolio Overview
Securities Portfolio Overview Asset Class Breakdown Portfolio Commentary Total Securities Portfolio Value: ~$297.7 million (1) Securitized Credit Portfolio Value: ~$188.4 million (2) The investment portfolio has been structured to have RMBS, 40.2% a negligible AOCI impact across interest rate
Slide 26: Securitized Credit Portfolio Overview
Securitized Credit Portfolio Overview Collateral Type by Book Value Book Value, Yield, and Duration by Category Balance % of Book Book Category Call Report Category ($000) Total Yield Dur. Resi Transitional Loans $25 mm Resi Transitional Loans RMBS $24,748 13% 6.83% 1.56 yr Agency Eligible RMBS 23,4
Slide 27: Asset Quality & Reserve Coverage Ratios
Asset Quality & Reserve Coverage Ratios NPAs / Assets NCOs / Avg. Loans 1.00% 1.00% 0.75% 0.75% 0.50% 0.50% 0.25% 0.25% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2020Y 2021Y 2022Y 2023Y 2024Y 2020Y 2021Y 2022Y 2023Y 2024Y Loan Loss Reserves / NPLs Loan Loss Reserves / T
Slide 28: Historical Bank Regulatory Capital Ratios
Historical Bank Regulatory Capital Ratios Tier 1 Leverage Ratio CET1 Ratio 20% 20% 15.43% (2) 15.21% 15.63% 16% 16% 14.34% 12.85% 12% 12% 9.14% 8.65% 8.52% 8.22% 7.87% 8% 8% Well-Capitalized CET1 Ratio (1) (6.5%) Well-Capitalized Tier 1 Lev. Ratio (1) (5.0%) 4% 4% 0% 0% 2020Y 2021Y 2022Y 2023Y 2024Y
Slide 29: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income (NII) and Net Interest Margin (NIM) Key Components of NII and NIM ($ in thousands) Loan Yield Yield on Inv. Securities (FTE) NII NIM (FTE) Cost of Int. Bearing Dep. Cost of Funds 32,000 4.00% 7.00% 6.00% 28,000 3.50% 6.00% 3.39% 5.60% 3.2
Slide 30: Noninterest Expense / Avg. Assets
Focus on Positive Operating Leverage Efficiency Ratio & NIE / Average Assets Pre-Tax ROATCE & ROAA (1) Efficiency Ratio (FTE) Noninterest Expense / Avg. Assets Pre-Tax ROATCE Pre-Tax ROAA 18.0% 17.4% 3.00% 120.0% 12.00% 15.0% 14.4% 2.50% Noninterest Expense / Avg. Assets 90.0% 9.00% 12.8% 11.3% Pre-
Slide 31: IV. Appendix
IV. Appendix 31
Slide 32: Historical Bank Loan Composition & Yields
Historical Bank Loan Composition & Yields ($ in thousands) Oak View National Bank Loan Composition Since 2020 2020Y 2021Y 2022Y 2023Y 2024Y Loan Composition Balance % of Total Balance % of Total Balance % of Total Balance % of Total Balance % of Total Construction $10,333 4.2% $15,523 6.2% $19,446 7
Slide 33: Asset-Liability Management Profile
Asset-Liability Management Profile Net Interest Income Sensitivity Profile Interest Rate Scenario -200 -100 Base +200 Net Interest Income Change - Next 12 Months -2.5% -1.3% 3.9% Net Interest Income Change - Next 24 Months 2.2% 5.3% 7.1% 18.4% Economic Value Sensitivity Profile Interest Rate Scenari
Slide 34: Bank Regulatory Financial Highlights
Bank Regulatory Financial Highlights 12/31/2021 As of and for the Years Ended: For the Quarters Ended: 12/31/2024 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 CAGR Balance Sheet Total Assets ($000) 345,127 497,888 599,874 694,438 599,874 624,046 629
Slide 35: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet As of December 31, (dollars show n in thousands) 2020 2021 2022 2023 2024 Assets Cash and Due from Banks $ 3,640 $ 13,183 $ 8,739 $ 8,582 $ 16,223 Interest-Earning Dep. 12,579 6,412 1,922 16,981 27,863 Fed Funds Sold & Reverse Repos 7,261 36,781 - 287 293 Cash a
Slide 36: Historical Consolidated Income Statement
Historical Consolidated Income Statement For the Years Ended December 31, (dollars show n in thousands) 2020 2021 2022 2023 2024 Total Interest Income $ 10,601 $ 11,372 $ 14,877 $ 28,719 $ 36,168 Total Interest Expense 2,032 1,107 2,801 12,561 18,028 Net Interest Income 8,568 10,264 12,076 16,159 18
Slide 37: Additional Notes
Additional Notes 1. Consolidated financial data of the Company are audited for the year-end periods shown in the presentation, with the exception of 2024. The Company’s 2024 audit has not yet been completed. Quarterly consolidated financial data of the Company are not audited. 2. Bank-level financia
Slide 38: Non-GAAP Reconciliation | Consolidated TCE / TA and TBVPS
Non-GAAP Reconciliation | Consolidated TCE / TA and TBVPS Dollars are in thousands, unless otherwise noted Reconciliation | Consolidated TCE / TA and TBVPS 2014Y 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y Total Equity $16,265 $18,338 $19,550 $20,387 $22,118 $24,163 $26,314 $28,632 $
Slide 39: Non-GAAP Reconciliation | Consolidated Earnings Ratios
Non-GAAP Reconciliation | Consolidated Earnings Ratios Dollars are in thousands, unless otherwise noted Reconciliation | Consolidated Earnings Ratios 2020Y 2021Y 2022Y 2023Y 2024Y 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 Net Income before Extra $2,017 $2,470 $3,055 $4,213 $6,097 $1,184 $981 $1,341
Slide 40: Non-GAAP Reconciliation | Bank-Level TCE / TA
Non-GAAP Reconciliation | Bank-Level TCE / TA Dollars are in thousands, unless otherwise noted Reconciliation | Bank-Level TCE / TA 2020Y 2021Y 2022Y 2023Y 2024Y 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 Total Equity $26,314 $28,632 $35,526 $45,743 $51,870 $45,743 $46,652 $48,401 $50,902 $51,870 Less: Pref
Slide 41: Non-GAAP Reconciliation | Bank-Level Earnings Ratios
Non-GAAP Reconciliation | Bank-Level Earnings Ratios Dollars are in thousands, unless otherwise noted Reconciliation | Bank-Level Earnings Ratios 2020Y 2021Y 2022Y 2023Y 2024Y 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 Net Income [A] $2,017 $2,470 $3,564 $4,825 $6,756 $1,137 $1,486 $1,999 $1,624 $1,647 Plus
Slide 42: Non-GAAP Reconciliation | Bank-Level Texas Ratio
Non-GAAP Reconciliation | Bank-Level Texas Ratio Dollars are in thousands, unless otherwise noted Reconciliation | Bank-Level Texas Ratio 2020Y 2021Y 2022Y 2023Y 2024Y 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 Non-accrual Loans $25 $2 – – – – – – – – Plus: Total Modified Loans – – – – – – – – – – Plus: Oth
Slide 43: Core Deposit Reconciliation
Core Deposit Reconciliation Dollars are in thousands, unless otherwise noted Reconciliation | Core Deposits 2020Y 2021Y 2022Y 2023Y 2024Y CAGR Noninterest-bearing Deposits $66,048 $91,240 $106,199 $93,701 $98,756 10.6% Plus: IB Demand, Savings, & MMDA 97,972 138,350 190,797 166,100 198,052 19.2% Plu
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