John Marshall Bancorp, Inc. · NASDAQ:JMSB
John Marshall Bancorp — Raymond James U.S. Bank Conference 2025
35 slides from John Marshall Bancorp's conference presentation, Sep 3, 2025
Slide 1: September 2025 Raymond James U.S. Bank Conference
September 2025 Raymond James U.S. Bank Conference 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 John Ma
Slide 3: Franchise Overview
3 Franchise Overview Financial Highlights Credit & Asset Quality Capital & Liquidity Appendices
Slide 4: Company Overview
Company Overview 4 John Marshall Bank is a growth-oriented commercial bank headquartered in Reston, Virginia Established in 2006, the Company has grown organically to $2.3 billion in assets Seasoned executive team with decades of in-market banking experience Strategy emphasizes local market
Slide 5: Investment Attributes
Rewarding Our Shareholders Attractive Market Credit Discipline Prime for Future Growth Experienced Management 5 Investment Attributes
Slide 6: John Marshall Franchise
John Marshall Franchise 6 Bank commenced operations in April 2006 Chris Bergstrom named President and CEO April 30, 2018 Building value by delivering tailored banking services and exceptional client experiences Commercially-oriented bank targeting: • Commercial Real Estate Lending • General
Slide 7: Leveraging Technology: FinTech Partnerships
7 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 8: Executive Leadership
Executive Leadership 8 Chris Bergstrom President & CEO Chris Bergstrom has over 43 years of experience in the banking industry. Before joining John Marshall Bank, Mr. Bergstrom served in a variety of executive positions during 19 years with Cardinal Financial Corporation and Cardinal Bank, most rece
Slide 9: Franchise Overview
9 Franchise Overview • Founded 2006 • $2.3 billion in assets • Utilize a branch-light strategy and technology to drive efficiency and enhance the experience for our customers. • Approximately 97% of our deposit dollars are collected through mobile banking and treasury management products. • No BaaS
Slide 10: Attractive Metro Markets
Attractive Metro Markets 10 Median Household Income $ (2025) Projected Population Growth % (2025-2030) Educational Attainment % (>=Bachelors Degree) Unemployment Rate % (May 2025, NSA) Sources: S&P Global Market Intelligence, Bureau of Economic Analysis and data.census.gov. Blue line represents the
Slide 11: Market Growth + Consolidation = Unique Opportunity
Market Growth + Consolidation = Unique Opportunity 11 Data as of: 6/30/2013 Data as of: 6/30/2024 Figures represent market deposits within the Washington, D.C. MSA Market Deposit Deposits Market Company ($000) Share (%) 1 Wells Fargo & Co. (CA) 23,769,182 15.3 2 Capital One Financial Corp. (VA) 22,1
Slide 12: Financial Highlights
12 Franchise Overview Financial Highlights Credit & Asset Quality Capital & Liquidity Appendices
Slide 13: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights 13 Earnings Accelerating o Net income of $5.1 million for the three months ended June 30, 2025 represent a 30.7% increase as compared to $3.9 million for the three months ended June 30, 2024 and a 6.1% increase over the $4.8 million for the three months ended March 3
Slide 14: Historical Growth
14 Historical Growth Total Deposits ($MM) Total Assets ($MM) Total Gross Loans ($MM) 1st half figures reflect balances at the first six months ended of each year. $1,138 $1,309 $1,640 $1,882 $2,068 $1,907 $1,892 $1,913 $1,897 2018 2019 2020 2021 2022 2023 2024 1H24 1H25 $1,395 $1,582 $1,885 $2,149 $
Slide 15: Loan Portfolio Composition
15 Loan Portfolio Composition • The Company’s loan pipeline remained strong with $135.5 million in new commitments recorded during the quarter ended June 30, 2025. • 40.5% improvement over the $96.5 million in new commitments recorded in the quarter ended March 31, 2025. • 52.7% improvement over the
Slide 16: Strength in CRE Loan Portfolio
16 Strength in CRE Loan Portfolio (1) Loan-to-value is determined at origination date and is divided by principal balance as of June 30, 2025. (2) The debt service coverage ratio (“DSCR”) is calculated from the primary source of repayment for the loan. Owner occupied DSCR’s are derived from cash flo
Slide 17: Deposit Composition
17 Deposit Composition Maintained a Balanced Funding Composition Increased Non-Interest Bearing Demand Deposits from 22.8% to 23.1% of Total Deposits. Increased Interest Bearing Demand Deposits from 37.3% to 38.2% of Total Deposits. June 30, 2024 June 30, 2025 (Dollars in thousands) $ Amount %
Slide 18: Bond Portfolio
18 Bond Portfolio As of June 30, 2025, 95% of our bond portfolio carried the implied guarantee of the United States government or one of its agencies. As of June 30, 2025, the available-for-sale portfolio had a weighted average life of 3.1 years and the held-to-maturity portfolio had a weighted aver
Slide 19: Performance Measures
0.80% 0.95% 1.08% 1.06% 1.25% 1.40% 0.22% 0.76% 0.72% 0.89% 2017 2018 2019 2020 2021 2022 2023 2024 1H24 1H25 19 Performance Measures Diluted Earnings Per Share (EPS) Return on Average Equity (ROAE) 1H figures reflect amounts for the first six months of each year. (1) Returns during 2023 were negati
Slide 20: Net Interest Income and Margin Trend
$11,979 $12,027 $11,744 $12,081 $13,156 $14,066 $14,097 $14,926 2.08% 2.12% 2.11% 2.19% 2.30% 2.52% 2.58% 2.69% 1.80% 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% $(1,000) $1,000 $3,000 $5,000 $7,000 $9,000 $11,000 $13,000 $15,000 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Net Interest Income and Margin
Slide 21: Prudent Expense Management
21 Prudent Expense Management (1) FDIC – All banks' data is sourced from the FDIC’s Quarterly Banking Profile as of March 31, 2025. (2) Annualized, data as of June 30, 2025. Stable non-interest expense over the preceding three years as a result of management’s prudent cost control. As of June 30
Slide 22: Credit & Asset Quality
22 Franchise Overview Financial Highlights Credit & Asset Quality Capital & Liquidity Appendices
Slide 23: Decreasing Concentration
23 Decreasing Concentration • $1.1 billion in CRE loans, net of unearned fees as of 6/30/2025. • 99.7% of CRE portfolio is within the DC MSA as of 6/30/2025. • No equity capital issuance since November 2013. Acquisition, Development & Construction Loans as a percentage of Total Risk-Based Capital Co
Slide 24: Disciplined Credit Culture
24 Disciplined Credit Culture Asset Quality Capital Allowance for Credit Losses • Historically, the Bank has exhibited excellent loan quality with low levels of classified loans • No loans 30+ days PD, non-accrual loans, OREO, net charge-offs, or substandard loans. • “Well-Capitalized” under Basel I
Slide 25: Credit Quality
25 Credit Quality Non-Accruing Assets¹ / Assets (%) Net Charge-Offs / Loans (%) (1) Non-accruing assets include nonaccrual loans and leases, and foreclosed or repossessed assets. (2) Data as of June 30, 2025. (3) As of March 31, 2025, the most recent data available from the FDIC. 0.32% 0.01%0.09% 0.
Slide 26: Capital & Liquidity
26 Franchise Overview Financial Highlights Credit & Asset Quality Capital & Liquidity Appendices
Slide 27: Strong Capital Ratios
27 Strong Capital Ratios Highlights • The Bank’s capital ratios at June 30, 2025 stayed relatively constant when compared to June 30, 2024. We remain well above regulatory thresholds for well-capitalized banks. • The Bank would continue to remain meaningfully above regulatory thresholds for well-cap
Slide 28: Sources of Liquidity
28 Sources of Liquidity • In addition to available secured borrowing capacity, the Bank had available federal funds lines of $93.5 million at June 30, 2025. • Stress testing is performed quarterly with assumptions inclusive of both systemic and idiosyncratic risks. As of June 30, 2025 (Dollars in mi
Slide 29: Capital Management: Share Repurchases
Capital Management: Share Repurchases 29 On August 19, 2025, the Company announced an extension of the share repurchase authorization of 700,000 shares. Through August 19, 2025, the Company had repurchased over 90,000 shares. The aggregate repurchase activity was accretive to the Company’s book
Slide 30: Appendices
30 Franchise Overview Financial Highlights Credit & Asset Quality Capital & Liquidity Appendices
Slide 31: Historical Balance Sheet
31 Historical Balance Sheet As of June 30, ($ in thousands) 2020 2021 2022 2023 2024 2025 ASSETS: Cash and Due from Banks $ 8,228 $ 2,920 $ 6,583 $ 7,424 $ 5,945 $ 9,415 Fed Funds Sold - - - - - - Deposits at Financial Institutions 130,229 102,879 55,016 91,581 116,524 107,511 Cash and Cash Equivale
Slide 32: Historical Income Statement
32 Historical Income Statement Six Months Ended ($ in thousands) 2020 2021 2022 2023 2024 June 30, 2025 Interest and dividend income $ 72,446 $ 74,119 $ 84,066 $ 100,770 $ 110,133 $ 55,147 Interest expense 15,607 8,211 13,645 50,286 59,086 26,124 Net interest income $ 56,839 $ 65,908 $ 70,421 $ 50,4
Slide 33: Reconciliation of Non-GAAP Disclosures
33 Reconciliation of Non-GAAP Disclosures John Marshall Bancorp, Inc. Reconciliation of Certain Non-GAAP Financial Measures (unaudited) (Dollar amounts in thousands, except per share amounts) For the Twelve Months Ended December 31, 2023 Non-interest loss (GAAP) $ (14,940) Adjustment: Pre-tax loss r
Slide 34: Reconciliation of Non-GAAP Disclosures
34 Reconciliation of Non-GAAP Disclosures
Slide 35: Reconciliation of Non-GAAP Disclosures
35 Reconciliation of Non-GAAP Disclosures
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