Fvcbankcorp, Inc. · NASDAQ:FVCB
Fvcbankcorp — Investor Presentation (November 2023)
24 slides from Fvcbankcorp's investor presentation, Nov 16, 2023
Slide 1: FVCBankcorp, Inc. Fall 2023
FVCBankcorp, Inc. NASDAQ: FVCB Fall 2023
Slide 2: Forward-looking statements
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, statements of goals, intentions, and expectations as to future trends, plans, events or results of FVCB’s operations and po
Slide 3: FVCB Company Snapshot
FVCB Company Snapshot (1) Consolidated financial data as of the quarter ended September 30, 2023, unless otherwise noted. (2) Nonperforming assets defined as nonaccruals, loans past-due 90 days or more, and other real estate owned. (3) Non-GAAP financial measure. See the reconciliation included in t
Slide 4: FVCB Franchise History
FVCB Franchise History Since inception, FVCbank has successfully executed a strategic plan focused on organic growth and opportunistic acquisitions without compromising asset quality or financial discipline. (1) $13.00 for existing shareholders, $13.50 for new shares offered to the public. Source: S
Slide 5: Technology Deployment Driving Top-Tier Performance
Technology Deployment Driving Top-Tier Performance *FVCbankcorp, Inc. has invested in KlariVis and JAM FINTOP Blockchain (the Fund). • Data analytics functionality (KlariVis)* which provides: • Immediate access to better communicate and respond to customers. • Dashboards to easily analyze activity f
Slide 6: An Attractive Investment Opportunity in the DC and Baltimore MSAs
An Attractive Investment Opportunity in the DC and Baltimore MSAs • Sixth largest MSA with favorable demographics, economic trends and business investments. • Recent consolidation in local markets has created growth opportunities for remaining banks. • Organic CAGRs1 of 12% for assets, 11% for loans
Slide 7: Well Positioned In One of the Most Attractive Markets in the U.S.
Well Positioned In One of the Most Attractive Markets in the U.S. Top 10 MSAs By Population Vibrant Economy • Washington D.C. and Baltimore MSAs contain 30 and 7 Fortune 1000 companies, respectively. • Over 3.3 million private sector employees and nearly 1 million public sector employees in the Wash
Slide 8: Relationship Driven Model Continues to Create Balance Sheet Leverage
Relationship Driven Model Continues to Create Balance Sheet Leverage Total Assets ($M) Total Loans, Net of Fees ($M) Total Deposits ($M) CAGR: 11.9% CAGR: 10.8% CAGR: 12.1% * 2023 Q3 metrics represent annualized growth rates. $1,352 $1,537 $1,821 $2,203 $2,344 $2,305 2018 2019 2020 2021 2022 2023 Q3
Slide 9: Track Record of Exceptional Growth and Strong Profitability
Track Record of Exceptional Growth and Strong Profitability (1) Non-GAAP financial measure. (2) Excludes one-time transaction costs of $3.3 million for 2018, $0.13 million for 2019, $0.68 million for 2020, $1.4 million for 2021, and $0.13 million for 2022, and $4.6 million for 2023. Pre-Tax Pre-Prov
Slide 10: Well Diversified Loan Portfolio
Well Diversified Loan Portfolio Balanced Loan Portfolio Segmentation 10 Disciplined, Low-Risk Commercial Balance Sheet CRE 49.54% C&I 12.01% Resi 19.43% C&D 8.35%Warehouse 0.43% Multifamily 9.83% Other 0.40% (1) Yield calculated based on average balance for the period
Slide 11: Well Diversified Loan Portfolio
Well Diversified Loan Portfolio • 12 loan officers with deep connections to the markets; average experience of over 21 years. • Focused effort on commercial, real estate and small business, including government contracting • Expanded focus on government contracting provides large source of growth po
Slide 12: Expected Repricing will Improve Revenue Growth
12 Disciplined, Low-Risk Commercial Balance Sheet Expected Repricing will Improve Revenue Growth ($ in 000) Less 3-12 Months 1-3 Years 3-5 Years Over 5 Years TotalConsumer Loans- Adjustable Total Consumer Real Estate (1) 49,429$ 27,689$ 63,342$ 56,598$ 166,536$ 363,593$ rate 3,866, 61 1,339,136 2,72
Slide 13: Proven History of Strong Credit Metrics
Disciplined, Low-Risk Commercial Balance Sheet Proven History of Strong Credit Metrics Net Charge-Offs (Recoveries) / Average Loans Asset Quality Trends Over Time¹ Well-Reserved Loan Portfolio (1) Nonperforming loans defined as nonaccruals and loans past-due 90 days or more. ($000s) 0.05% 0.05% 0.02
Slide 14: Strong Core Deposit Base
Strong Core Deposit Base • Full-service relationships continue to drive core deposit growth. ‒ Approximately three quarters of the commercial loan portfolio retains a deposit relationship with the bank. • Growth in commercial accounts provide cross selling opportunities with FVCB’s technology invest
Slide 15: Strong Core Deposit Base: Cycle-to-Date Beta Less Than 50%
Strong Core Deposit Base 15 Cycle-to-Date Beta Less Than 50% Loan and Deposit Betas (vs. Fed Funds Effective) 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Cycle-to-Date (1) Fed Funds Effective (average) 0.77% 2.19% 3.65% 4.52% 4.99% 5.26% Deposit Costs Interest Bearing Deposits - excluding wholesale 0.59% 0.88% 1.
Slide 16: Strong Liquidity
Strong Liquidity • Stress testing is performed quarterly with assumptions inclusive of both systemic and idiosyncratic risks. • Stress testing performed as of September 30, 2023, demonstrates a strong liquidity position in all tested scenarios. *Values above in millions. 16 As of September 30 2023 T
Slide 17: Experienced Leadership Team
Experienced Leadership Team Management Team With Strong Ties to The Market FVCB’s executive management team consists of seven officers with over 217 years of combined experience in the Washington, D.C. metropolitan area. • David Pijor was the founding Chairman of the Board of James Monroe Bancorp, w
Slide 18: Governed and Supported By An Exceptional Board
Experienced Leadership Team Governed and Supported By An Exceptional Board David Pijor Chairman & CEO • Served as Chairman of the Board and CEO of FVCB since its organization • Lead organizer, Chairman of the Board and General Counsel of James Monroe Bank from its inception to sale to Mercantile Ban
Slide 19: Appendix: Additional Materials
Appendix: Additional Materials
Slide 20: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 20
Slide 21: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 21
Slide 22: Financial Highlights
Financial Highlights (1) Performance ratios presented are calculated using annualized GAAP net income. (2) Non-GAAP financial measures exclude one-time transaction costs of $3.3 million for 2018, $0.13 million for 2019, $0.68 million for 2020, $1.4 million for 2021, and $0.13 million for 2022, and $
Slide 23: 5-Year Loan History
5-Year Loan History For the Period Ended 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 9/30/2023 ($000s) C&I Portfolio Commercial & Industrial $ 121,864 $ 96,995 $ 265,866 $ 196,428 $ 241,510 $ 222,205 Owner Occupied CRE 157,486 205,892 182,851 190,334 206,766 215,572 Total C&I $ 279,350 $
Slide 24: FVCB Business Strategy
FVCB Business Strategy FVCB aims to capitalize on market opportunities while maintaining disciplined and comprehensive credit underwriting. FVCB’s focus on providing high-touch, responsive, relationship-based client service allows it to compete effectively and exceed the needs of customers. Opportun