Uscb Financial Holdings, Inc. · NASDAQ:USCB
Uscb Financial — Q4 2021 Earnings Presentation
20 slides from Uscb Financial's earnings presentation, Jan 27, 2022
Slide 1: USCB Financial Holdings Fourth Quarter 2021 Earnings Presentation
Exhibit 99.2 USCB FINANCIAL HOLDINGS Fourth Quarter 2021 Earnings Presentation January 28, 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements included in this presentation that are not historical in nature are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. The words “ma
Slide 3: Q4 2021 Highlights
Q4 2021 Highlights Capital/ Credit Formed a Bank Holding Company on December 30, 2021. Exchanged all Common B shares for Common A shares completing the last step in a capital simplification project. USCB now has one capital instrument and a simplified capital structure. On January 24, 2022 the Board
Slide 4: Financial Results
Financial Results In thousands (except per share data) Q4 2021 Q3 2021 Q4 2020 Balance Sheet (EOP) Income Statement Investment Securities $526,301 $430,137 $337,033 Total Loans (1) $1,190,080 $1,176,412 $1,038,504 Total Assets $1,853,939 $1,755,011 $1,501,742 Total Deposits $1,590,379 $1,484,589 $1,
Slide 5: Key Performance Indicators
Key Performance Indicators Q4 2021 Q3 2021 Q4 2020 Capital Credit Profitability Tangible Common Equity/Tangible Assets(1) 11.00% 11.51% 9.25% Total Risk Based Capital 14.93% 15.10% 14.24% NCO/Avg Loans (2) -0.05% -0.02% 0.05% NPA/Assets 0.06% 0.00% 0.11% Allowance Credit Losses/Loans 1.27% 1.27% 1.4
Slide 6: Loan Portfolio
Loan Portfolio Total Loans (AVG) In millions $1,200 $1,036 $1,072 $1,088 $1,144 $1,159 $1,100 $108 $113 $99 $73 $51 $1,000 $928 $959 $989 $1,071 $1,108 $900 $800 $700 $600 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Loans (Excl PPP) PPP Loans Commentary Total average loans excluding PPP loans increased
Slide 7: Paycheck Protection Program (PPP)
Paycheck Protection Program (PPP) 3 successful rounds of PPP loans, originating $168.4 million. Forgiveness of the last round of PPP loans is in process. In thousands (except for ROAA) Q4 2021 Q3 2021 Q4 2020 Pre-Tax Income $7,401 $8,681 $4,688 Net Income $5,650 $6,593 $4,239 Average Assets $1,828,0
Slide 8: Deposit Portfolio
Deposit Portfolio Deposits (AVG) In millions $1,800 $1,291 $1,344 $1,432 $1,477 $1,562 $1,600 $264 $248 $236 $229 $228 $1,400 $954 $569 $608 $628 $674 $1,200 $48 $45 $52 $55 $56 $1,000 $437 $482 $536 $565 $604 $800 $600 $400 $200 - Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Noninterest-bearing deposits
Slide 9: Net Interest Margin
Net Interest Margin Net Interest Income/Margin (1) In thousands (except ratios) $16,000 3.14% 3.35% 3.14% 3.19% 3.19% $14,000 3.06% 3.19% 3.10% 3.08% 3.06% $12,000 $11,499 $12,475 $12,474 $13,471 $14,076 $10,000 $8,000 $6,000 $4,000 $2,000 $- Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Net Interest Inco
Slide 10: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio Repricing Profile by Rate Type Hybrid ARM 7% Variable Rate 53% Fixed Rate 40% 27% 23% 50% Prime CTM LIBOR Loan Repricing Schedule 35.7% 48.9% 7.29% 8.2% 0-1 yrs 1-2 yrs 2-3 yrs >3 yrs Static NII Simulation Year 1 & 2 $3,500 0.0% 0.1% 0.2% 3.2% 6.5% $3,000 $38
Slide 11: Non-interest Income
Non-interest Income In thousands (except ratios) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Service fees $961 $856 $903 $889 $1,030 Gain (loss) on sale of securities available for sale 35 (70) 187 62 11 Gain (loss) on sale of loans held for sale 107 532 23 964 (1) Gain on sale of other assets 983 - - -
Slide 12: Non-interest Expense
Non-interest Expense In thousands (except ratios and FTE) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Salaries and employee benefits )$5,634 $5,313 $5,213 $5,278 $4,435 Occupancy )1,267 1,192 1,411 1,387 1,402 Regulatory assessment and fees ))93 317 195 178 171 Consulting and legal fees )539 357 373 185
Slide 13: Business Verticals
Business Verticals JA/PCG(1) HOA(2) SBA(3) Global Yachts $130 Million $68 Million $39 Million $154 Million $80 Million in Deposits in Deposits In Loans in Deposits in Loans 34% Growth YoY (11%) Growth YoY 20% Growth YoY 12% Growht YoY Loan Purchases $46 Million $20 $59 Million (In millions) in Loans
Slide 14: Asset Quality
Asset Quality Allowance for Credit Losses In thousands (except ratios) $15,150 1.61% 1.51% 1.40% 1.33% 1.31% $15,100 1.45% 1.36% 1.30% 1.27% 1.27% $15,050 $15,086 $15,009 $14,848 $14,900 $15,057 $15,000 $14,950 $14,900 $14,850 $14,800 $14,750 $14,700 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Allowance
Slide 15: Capital
Capital Capital Ratios Q4 2021 Q3 2021 Q42020 Well-Capitalized Leverage Ratio 9.55% 9.69% 8.61% 5.00% TCE/TA(1) 11.00% 11.51% 9.25% NA Tier 1 Risk Based Capital 13.70% 13.85% 12.99% 8.00% Total Risk Based Capital 14.92% 15.10% 14.24% 10.00% Commentary Formed a Bank Holding Company on December 30, 20
Slide 16: Takeaways
Takeaways Leading Franchise Located in one of the Most Attractive Banking Markets in Florida and the U.S. Experienced and Tested Management Team Robust Organic Growth Low Risk, Commercially Oriented Loan Portfolio Strong Asset Quality, with Minimal Charge-offs Experienced Since Recapitalization Stro
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except ratios) As of and for the three months ended 12/31/2021 9/30/2021 6/30/2021 3/31/2021 12/31/2020 Pre-Tax Pre-Provision ("PTPP") Income: Net income $ 5,650 $ 6,593 $ 4,053 $ 4,781 $ 4,239 Plus: Provision for income taxes 1,751 2,088 1,263 1,498 449 Plus: P
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except per share data) As of and for lhe three months ended 12/31/2021 9/30/2021 6/30/2021 3/31/2021 12/31/2020 Tangible Book Vainer per Common Share (at period end): Total stockholders' equity (GAAP) $203.897 $201.918 $ 166.302 $170.425 $171.001 Le«: Intangible
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except ratios) Operating Net Income Available to Common Stockholders: Year Ended December 31, 2021 2022 Net income (GAAP) $ 21,077 $ 10,820 Less: Preferred dividends 2,077 3,127 Less: Exchange and redemption of preferred shares 89.585 • Net income (loss) availab
Slide 20: Contact Information
Contact Information Lou de la Aguilera President, CEO & Director (305) 715-5186 laguilera@uscentury.com Rob Anderson Chief Financial Officer (305) 715-5393 rob.anderson@uscentury.com Investor Relations InvestorRelations@uscentury.com 20
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