InBankShares Corporation · OTC:INBC
InBankShares — Q1 2024 Earnings Presentation
28 slides from InBankShares's earnings presentation, May 1, 2024
Slide 1: Investor Presentation 1Q'2024
Investor Presentation INBANKSHARES, CORP 1Q’2024
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements: This presentation contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by,
Slide 3: Overview of InBankshares, Corp
Overview of InBankshares, Corp Emphasis on capturing market share along the Colorado Footprint Front Range, while maintaining dominant market share Metro Markets in Southern Colorado and Northern New Mexico People-centric vs branch-centric The strategy is to be the premier Focused on developin
Slide 4: INBC Timeline
INBC Timeline Invest for Growth Execution of Growth Strategy Expansion of Footprint June 2018: Ed Francis and investor group raise $69 July 2019: Staff for growth with the addition of April 2021: CFO, Dan Patten, joins the organization. million of capital and acquire International Bank, a associa
Slide 5: 1Q'2024 Highlights
1Q’2024 Highlights Net income of $1.9 million compared to $594,000 for the linked quarter, and $3.1 million for 1Q’2023 Earnings per share (“EPS”) of $0.16 compared to $0.05 for the linked quarter, and $0.27 for 1Q’2023 Earnings 4Q’2023 adjusted net income1 was $2.2 million, or $0.19 per share
Slide 6: Earnings Performance
Earnings Performance Trailing Five Quarters Annual $5,000 $0.30 $17,500 $1.00 $0.27 $0.84 $4,500 $15,000 $0.75 $0.25 $4,000 $0.22 $0.64 $0.75 $0.21 $12,500 $3,500 $0.20 $10,000 $ In Thousands $ In Thousands $3,000 $0.16 $0.50 $0.36 $2,500 $0.15 $7,500 $2,000 $0.18 $0.25 $5,000 $0.10 $1,500 $2,500 $1
Slide 7: Loan Growth
Loan Growth Total Loans Held for Investment (HFI) Total Loans HFI of $934.6 million $1,000,000 Total Loans HFI growth of $35.9 million, or 4.0%, for the $800,000 trailing one-year period Loans HFI increased $32.4 million, or 3.6%, during the $ In Thousands $600,000 quarter $400,000 $200,000 To
Slide 8: Diverse Loan Portfolio
Diverse Loan Portfolio Loans held for investment at 3/31/2024: $934.6 million CRE I & CRE II ratios: 67.1%, 304.6% LOAN MIX LOANS BY MARKET Consumer & Other 2% Other Colorado Farm 14% C&I Construction 3% 22% 10% Colorado 1-4 Family Springs 9% 7% New Mexico Agriculture Multifamily 3% 2% 5% Denver
Slide 9: Deposit Growth
Deposit Growth Total Deposits Total deposits of $1.13 billion $1,400,000 Deposits increased $75.5 million, or 7.2%, for the trailing $1,200,000 one-year period $1,000,000 Deposits decreased $29.3 million, or 2.5%, during the quarter $ In Thousands $800,000 $600,000 Noninterest bearing deposi
Slide 10: Strong Core Deposit Base
Strong Core Deposit Base Deposits at 3/31/2024: $1.13 billion 28.3% Noninterest bearing deposits DEPOSIT MIX DEPOSITS BY MARKET Retail Time 7% Jumbo Time Other Colorado 6% 18% Noninterest Brokered DDA Denver MSA 8% 28% 34% Colorado Springs 7% MMDA & New Mexico Interest Savings 19% Boulder Checki
Slide 11: Taking Market Share In a Growing Market
Taking Market Share In a Growing Market Emphasis on capturing market share in the Denver and Boulder MSAs and along the Colorado Front Range, Southern Colorado, and Northern New Mexico InBank Deposits - Denver & Boulder MSAs Total Deposit Market - Denver & Boulder MSAs $400 $160,000 $350 $140,000
Slide 12: NIM and Cost of Funds
NIM and Cost of Funds 5.00% 4.56% MRQ NIM of 3.53%, compared to 3.58% for 4Q’2023 4.43% 4.50% 4.17% 3.93% 4.00% 3.59% 3.58% Cost of funds of 2.19%, an increase of 23 bps from the linked 3.56% 3.53% 3.50% quarter and an increase of 103 bps from 1Q’2023 3.00% 2.50% Total loan yield of 6.06% for
Slide 13: Scale and Efficiency
Scale and Efficiency Average Assets per Employee and Core NIE1 to Assets Efficiency Ratio $8,500 3.00% 100.00% 90.00% 75.14% $8,000 2.90% 80.00% 71.08% 72.03% 70.00% 2.83% 60.20% $7,500 2.80% 60.00% $7,249 $7,300 50.00% $7,000 2.70% 40.00% 30.00% $6,500 2.60% 20.00% 2.57% 10.00% $6,000 2.50% 0.00% 2
Slide 14: Asset Quality – NPAs and Past Due Loans
Asset Quality – NPAs and Past Due Loans Non-Performing Assets1 Past Due Loans 30-89 Days $8,000 1.00% $14,000 1.40% $12,000 1.20% 0.80% $6,000 $10,000 1.00% $ In Thousands $ In Thousands 0.60% $8,000 0.80% $4,000 $6,000 0.60% 0.40% $4,000 0.40% $2,000 0.20% $2,000 0.20% $- 0.00% $- 0.00% 2Q'22 3Q'22
Slide 15: Asset Quality – Allowance and Net Chargeoffs
Asset Quality – Allowance and Net Chargeoffs Total Allowance + Purchase Discount Net Chargeoffs $20,000 1.75% $400 0.40% 1.60% $350 0.35% $17,500 1.50% 1.33% $300 0.30% $15,000 1.25% $250 0.25% $ In Thousands $12,500 $ In Thousands 1.00% $200 0.20% $10,000 0.14% $150 0.15% 0.75% $7,500 $100 0.10% 0.
Slide 16: InBank Remains Well-Capitalized
InBank Remains Well-Capitalized InBank Leverage Ratio2 $1,500,000 12.00% 10.54% 10.20% 10.02% 9.66% 9.71% 10.03% 9.79% $1,250,000 9.44% 10.00% $1,000,000 8.00% $ In Thousands 1 $750,000 6.00% InBank Capital Ratios 1Q'24 2 Tier 1 Leverage Ratio 10.02% Common Equity Tier 1 Capital Ratio 11.90% Tier 1
Slide 17: INBC Consolidated Tangible Capital
INBC Consolidated Tangible Capital 3/31/2024 Tangible book value per share of $8.26 INBC Tangible Common Equity1 TBV per Share1 $100.0 $97.0 10.00% $10.00 $8.87 $90.0 9.00% $9.00 $8.34 $79.4 $7.97 $8.26 $80.0 8.00% 7.99% $8.00 $7.33 7.44% $70.0 $63.8 7.00% $7.00 $6.84 $ In Millions $60.0 6.00% $6.00
Slide 18: Focused on Culture
Focused on Culture Our Mission: To Positively Impact the Lives of Our Customers, Communities and Associates Our Vision: We reinvent relationship banking by delivering an exceptional customer experience. Our devoted associates and loyal customers are the foundation of our success. COMMITMENT INNOVATI
Slide 19: Strategic Pillars
Strategic Pillars Customer WOW! Thriving Culture Growth Mindset Make it Better Own the Risk Think Big Exceed Enhance Win Drive Empowered Act • Exceed customer • Enhance • Win market • Drive value by • Empowered to • Take action expectations InBank’s share through making it easier identify risk to bu
Slide 20: Why Invest in InBankshares?
Why Invest in InBankshares? Strong Colorado- granular core Proven and headquartered deposit base dedicated high company caliber team Capturing Focused on market share Building long building in growth term advisory shareholder markets based value relationships 20
Slide 21: Contact Information
Contact Information Edward Francis Chairman, Chief Executive Officer Email: Edward.Francis@inbank.com Phone: (720) 907-8130 Dan Patten EVP, Chief Financial Officer Email: Dan.Patten@inbank.com Phone: (720) 552-8327 21
Slide 22: Appendix
INBANKSHARES, CORP APPENDIX
Slide 23: Experienced Management Team
Experienced Management Team Edward Francis – Chairman, Chief Executive Officer Bo Scott – President, Chief Banking Officer Dan Patten – EVP, Chief Financial Officer Ed has over 35 years of banking and financial institution Dan has over 20 years of experience in corporate finance, Bo has over 25 year
Slide 24: Board of Directors
Board of Directors Eric Donnelly – Lead Director Kevin Ahern Eric is CEO of Capital Plus Financial which through its holding Kevin is Managing Partner of Brush Creek Partners, a Denver-based company, Crossroads Systems, is the first publicly traded nonbank private equity firm, and the former Chairma
Slide 25: Non-GAAP Measures
Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Quarter Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, 2024 2023 2023 2023 2023 Tangible Common Equity, Tangible Assets, Tangible Common Equity to Tangible Asse
Slide 26: Non-GAAP Measures
Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Quarter Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, 2024 2023 2023 2023 2023 Pre-Provision, Pre-Tax Net Revenue (PPNR) Net income (GAAP) $ 1,877 $ 594 $ 2,47
Slide 27: Non-GAAP Measures
Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Quarter Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, 2024 2023 2023 2023 2023 Core Efficiency Ratio and Core Noninterest Expense to Average Assets Noninterest
Slide 28: Non-GAAP Measures
Non-GAAP Measures InBankshares, Corp Non-GAAP Financial Measures (unaudited) (Dollars in thousands, except per share data) As of and For the Quarter Ended Mar 31, Dec 31, Sep 30, Jun 30, Mar 31, 2024 2023 2023 2023 2023 Adjusted Net Income, Adjusted Return on Average Assets, and Adjusted Income Per