ENB Financial Corp · OTC:ENBP
ENB Financial — Shareholder Meeting (May 2011)
34 slides from ENB Financial's shareholder meeting presentation, May 3, 2011
Slide 1: ENB Financial Corp Annual Meeting May 3, 2011
ENB Financial Corp Annual Meeting | May 3, 2011
Slide 2: Agenda
AGENDA • Welcome • Reading of the Minutes • Certify Voting Activity • V t on Matters Vote M tt off the th Proxy P Statement St t t • Discussion of Condition of Company President’s es de t s Remarks e a s Financial Review Lending Environment • Questions & Answers • Vote Results • Adjournment
Slide 3: Presenters
PRESENTERS • Aaron L. Groff, Jr. President, CEO and Board Chairman – ENB Financial Corp and Ephrata National Bank • Paul W. Wenger g Vice President and Corporate Secretary – ENB Financial Corp Senior Vice President and Cashier – Ephrata National Bank • Scott E. Lied Treasurer – ENB Financial
Slide 4: Election Certification
ELECTION CERTIFICATION Presented by: Paul W. W Wenger Corporate Secretary - ENB Financial Corp
Slide 5: Matters of Proxy
MATTERS OF PROXY • Elect three (3) Class C directors to serve a three-year term
Slide 6: Current Directors
CURRENT DIRECTORS Class C Election ((3 Year Term)) Susan Y. Nicholas Paul W. Wenger Mark C C. Wagner Continuing Directors – Class A A Aaron L L. G Groff, ff JJr. P lM Paul M. Zi Zimmerman, Jr. J J. Harold Summers Thomas H. Zinn Continuing C ti i Directors Di t – Class Cl B Willis R. Lefever Bonnie R
Slide 7: Voting Process
VOTING PROCESS Presented by: Paul W. W Wenger Corporate Secretary - ENB Financial Corp
Slide 8: Voting Process
VOTING PROCESS Proxy Holders Judges of Election • Janice S. Eaby • Richard H. Binner • John H H. Shuey • Roger S. S Kline • William M. Rohrbach
Slide 9: President's Remarks
PRESIDENT’S PRESIDENT S REMARKS Presented by: Aaron L L. Groff Groff, Jr Jr. President/CEO - ENB Financial Corp
Slide 10: Mission Statement
MISSION STATEMENT To remain an independent community bank of undisputed integrity, serving the communities of Northern Lancaster County and beyond. To offer state-of-the-art financial products and services of high quality and value at an affordable price. To provide unsurpassed personal servic
Slide 11: We Care
WE CARE • Courteous • Accurate • Responsive i • Empowered
Slide 12: Strategic Initiatives
STRATEGIC INITIATIVES • Growth • Efficiency • Leadership d hi development d l • Successfully navigate the new regulatory environment • Stay y true to our communityy banking g core values
Slide 13: Financial Condition
FINANCIAL CONDITION Presented by: Scott E. E Lied Treasurer - ENB Financial Corp
Slide 14: Disclosures
DISCLOSURES • Unaudited Financial Information Some of the following slides do present financial information that is unaudited. Therefore, this information is s bject to adjustments subject adj stments that could co ld be necessary necessar uponpon completion of the annual audit. • Forward o wa d L
Slide 15: Net Income
NET INCOME 88,000 000 6,345 Dollarss in thousaands 6,000 4,771 5 063 5,063 4,014 4,300 4,000 2,000 0 2006 2007 2008 2009 2010
Slide 16: Significant Items
SIGNIFICANT ITEMS Net Interest Income $ 1,222,000 1 222 000 increase Other Income $ 520,000 , increase Operating Expenses $ 12,000 decrease Provision Expense $ 1,120,000 decrease
Slide 17: Net Interest Income
NET INTEREST INCOME 23.0 22.2 22.0 Dolllars in milllions 21.0 21.0 20 1 20.1 20.0 19.1 19.0 18.7 18.0 17.0 16.0 15.0 14.0 14 0 2006 2007 2008 2009 2010
Slide 18: Other Income
OTHER INCOME 8.0 7.0 7.0 6.4 Dolllars in milllions 6.0 5.0 4.8 4.9 4.0 3.4 30 3.0 2.0 1.0 0.0 00 2006 2007 2008 2009 2010
Slide 19: Operating Expenses
OPERATING EXPENSES 25.0 20.5 20.1 20.1 Dollarrs in millioons 20.0 16.8 15.3 15.0 10.0 50 5.0 2006 2007 2008 2009 2010
Slide 20: Provision Expense
PROVISION EXPENSE 3,000 2,920 2,500 nds Dollars in thousan 2,000 1,800 1,446 1,500 1,276 1 000 1,000 669 500 0 2006 2007 2008 2009 2010
Slide 21: Earnings and Dividends Per Share
EARNINGS AND DIVIDENDS PER SHARE $$2.50 $2.23 $2.00 $1.77 $1.67 $1 52 $1.52 $1.50 $1.40 $1.00 $1.17 $1.21 $1.24 $1.17 $0.96 $0.50 $0.00 2006 2007 2008 2009 2010 Dividends Per Share Earnings Per Share
Slide 22: Dividend Comparison
DIVIDEND COMPARISON Current Change from Dividend C Corporate Name Dividend High (2006 – 2008) ENB Financial Corp $0.24 -22.58% VIST Financial Corp $0.05 -75.00% Fulton Financial Corp $0.04 -77.78% National Penn Bancshares $0.01 -94.12% Susquehanna Bancshares $0.02 -91.30% Union National $0.00 -100.0
Slide 23: Shareholder Value
SHAREHOLDER VALUE ENBP SUSQ Q FULT Average Stock Price – Oct 2008 $25.69 $17.12 $11.62 Average Stock Price – Jul 2009 $24.83 $4.80 $6.05 Jul 2009 Price as % of Oct 2008 Price 97% 28% 52% Average Stock Price* – Q1 2011 $22.54 $9.52 $10.69 Q1 2011 Price as % of Oct 2008 Price 88% 56% 92% Current Divid
Slide 24: Peer Analysis
PEER ANALYSIS ANALYSIS* Measurement ENB Peer** Peer Return on Assets (ROA) 0.86% 0.50% Return on Equity (ROE) 8.88% 4.60% Efficiency Ratio 65.55% 68 18% 68.18% Tier 1 Leverage Capital 9.63% 9.08% * As of December 31, 2010 ** Peer Group is defined as all banks nationwide with assets between $300 mill
Slide 25: First Quarter Results
FIRST QUARTER RESULTS • Q1 2011 Earnings: $1,697,000 versus $1,468,000 (Q1 2010) • 15.6% 15 6% increase over Q1 2010 Assets: $756 million versus $748 million (Q4 2010) • 1.0% 1 0% increase over year year-end end 2010
Slide 26: Lending Environment
LENDING ENVIRONMENT Presented by: Dale G. G Burkholder Sr. Vice President and Sr. Lending Officer – Ephrata National Bank
Slide 27: Loan Growth Rates
LOAN GROWTH RATES ENB Peer* 12.5% 12.3% 10.3% 10.5% 9.1% 11.2% 8 5% 8.5% 6.5% 6.9% 3.5% 4.5% 5.1% 2 5% 2.5% 0.5% -0.1% -1.9% -1.5% -3.1% -3.5% 3.5% 2006 2007 2008 2009 2010 * Peer Group is defined as all banks nationwide with assets between $300 million and $1 billion billion.
Slide 28: Average Loan Growth
AVERAGE LOAN GROWTH 450 429.0 419.7 400 391.3 376.6 Dollarrs in millioons 348 7 348.7 350 300 250 200 150 2006 2007 2008 2009 2010
Slide 29: Mix of Loan Portfolio
MIX OF LOAN PORTFOLIO ENB Peer* 70 0% 70.0% 66.7% 66 7% 60.0% 50.0% 40.0% 36.7% 34.3% 30.0% 20 6% 20.6% 20.0% 16.3% 10.0% 5.8% 7.3% 6.9% 4.9% 0.5% 0 0% 0.0% Consumer Tax-Free Agriculture Residential Business * Peer Group is defined as all banks nationwide with assets between $300 million and $1 bill
Slide 30: Asset Quality
ASSET QUALITY Measurement ENB Peer Peer* Delinquent Loans as a % of Total Loans 1.38% 4.51% Non-performing Loans as a % of Total Loans 0.97% 3.22% ALLL as a % of Total Loans 1.72% 1.96% Charge-offs as a % of Average Loans 0.14% 1.01% * Peer Group is defined as all banks nationwide with assets betwee
Slide 31: Historical Loan Losses
HISTORICAL LOAN LOSSES 1 20% 1.20% 1.12% 1 12% ENB Peer* 1.01% 1.00% 0 80% 0.80% 0.60% 0.53% 0 40% 0.40% 0.29% 0.24% 0.27% 0.20% 0.14% 0.11% 0.04% 0 18% 0.18% 0.00% 2006 2007 2008 2009 2010 * Peer Group is defined as all banks nationwide with assets between $300 million and $1 billion. billi
Slide 32: Questions & Answers
QUESTIONS G@ANSWERS
Slide 33: Voting Results
VOTING RESULTS Presented by: Paul W. W Wenger Corporate Secretary - ENB Financial Corp
Slide 34: Adjournment
ADJOURNMENT • Mission Statement: To remain an independent community bank of undisputed integrity, integrity serving the communities of Northern Lancaster County and beyond. To offer state-of-the-art state of the art financial products and services of high quality and value at an affordable price