John Marshall Bancorp, Inc. · NASDAQ:JMSB
John Marshall Bancorp — Shareholder Meeting (June 2025)
33 slides from John Marshall Bancorp's shareholder meeting presentation, Jun 17, 2025
Slide 1: Annual Shareholders' Meeting
June 17, 2025 Annual Shareholders’ Meeting 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: Agenda
Agenda 3 Company Overview Financial Performance 2024 Stock Price Performance 2025 Outlook
Slide 4: Company Overview
4 Company Overview
Slide 5: Franchise Overview
5 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 6: Market Growth + Consolidation = Unique Opportunity
Market Growth + Consolidation = Unique Opportunity 6 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) 22,12
Slide 7: Strategic Priorities
Strategic Priorities 7 Provide an Exceptional Client Experience Expand In Attractive Markets Maintain Financial and Credit Discipline
Slide 8: Core Values
Core Values [E EXCELLENCE fy HONESTY 2 BSAao5 R RESPONSIVENESS 4 ou Sup AN * oun MARSHALL BANCORP, INC.
Slide 9: Our Shareholder Value Proposition
Our Shareholder Value Proposition Rewarding Our Shareholders Attractive Market Credit Discipline Prime for Future Growth Experienced Management 9
Slide 10: Financial Performance
10 Financial Performance
Slide 11: Financial Performance
Financial Performance 11 Growth and Financial Performance Strong Capital Position Exceptional Asset Quality Liquid Balance Sheet Expense Management Competitive Shareholder Returns
Slide 12: Net Interest Margin Growth
Net Interest Margin Growth 12 Net Interest Margin 2.11% 2.19% 2.30% 2.52% 2.58% 2.00% 2.10% 2.20% 2.30% 2.40% 2.50% 2.60% 2.70% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Net Interest Margin grew 0.47% from the first quarter of 2024 to the first quarter of 2025. This increase in net interest margin equates t
Slide 13: Balance Sheet Growth
Balance Sheet Growth 13 Dollars in millions Total Assets Gross Loans Deposits $1,175 $1,394 $1,582 $1,885 $2,149 $2,348 $2,243 $2,235 2017 2018 2019 2020 2021 2022 2023 2024 $1,007 $1,161 $1,326 $1,563 $1,666 $1,789 $1,860 $1,872 2017 2018 2019 2020 2021 2022 2023 2024 $897 $1,138 $1,309 $1,640 $1,8
Slide 14: Loan Pipeline
Loan Pipeline 14 Loan commitments represent the amount of loans closed. Loans do not necessarily fully fund at closing. New Loan Commitments grew $62 million or 19.0% in 2024, compared to 2023. (Dollars in millions) $326 $388 $100 $150 $200 $250 $300 $350 $400 2023 2024 New Loan Commitments Th
Slide 15: Improved Deposit Profile
Improved Deposit Profile 15 Focus on driving value through core deposit growth. Last year, we increased core deposits by $39 million. During 2024, the Company intentionally reduced higher cost wholesale deposits by $53 million. December 31, 2023 December 31, 2024 (Dollars in thousands) $ Amoun
Slide 16: Increasing Financial Returns
Increasing Financial Returns 16 Return on Average Assets Return on Average Equity (1) Returns during 2023 were negatively impacted by various restructuring measures as discussed in the Company's 10-K filed on March 20, 2024. (2) Annualized, data as of March 31, 2025. (1) (1) 7.14% 8.98% 10.41% 10.49
Slide 17: Per Share Performance
Per Share Performance 17 Diluted Earnings Per Share (2) (3) (1) $0.66 $0.89 $1.17 $1.35 $1.83 $2.25 $0.36 $1.20 $1.36 2017 2018 2019 2020 2021 2022 2023 2024 2025 Book Value Per Share (1) Earnings during 2023 were negatively impacted by various restructuring measures as discussed in the Company's 10
Slide 18: Strong Capital Position
Strong Capital Position 18 3.0 5.0 7.0 9.0 11.0 13.0 15.0 17.0 19.0 Leverage ratio Common equity tier 1 ratio Tier 1 risk-based capital Total risk-based capital ratio Ratios (%) Bank Regulatory Capital Ratios Well-Capitalized Threshold December 31, 2024 March 31, 2025
Slide 19: Growing Dividends
Growing Dividends 19 $0.20 $0.22 $0.25 $0.30 $0.15 $0.20 $0.25 $0.30 $0.35 2022 2023 2024 2025 Per Share Cash Dividends On April 22, 2025, the Company declared an annual cash dividend of $0.30 per outstanding share of common stock. The dividend will be payable on July 7, 2025 to shareholders of
Slide 20: Capital Management: Share Repurchases
Capital Management: Share Repurchases 20 On July 23, 2024, the Company announced a share repurchase authorization of 700,000 shares. Through June 13, 2025, the Company had repurchased nearly 70,000 shares. The Company may selectively continue repurchasing shares subject to market conditions, s
Slide 21: Exceptional Asset Quality
Exceptional Asset Quality 21 Non-Accruing Assets¹ / Assets (%) (1) Non-accruing assets include nonaccrual loans and leases, and foreclosed or repossessed assets. (2) Data as of March 31, 2025. The Bank had no non-accrual loans or other real estate owned assets as of March 31, 2025. The Bank has
Slide 22: Liquid Balance Sheet
Liquid Balance Sheet 22 Amounts noted above are as of March 31, 2025. 34.6% $786.9 Million Cash, unencumbered securities (at fair value), and secured borrowings as a percentage of total assets.
Slide 23: Prudent Expense Management
Prudent Expense Management 23 2.2% 2.2% 2.0% 1.7% 1.4% 1.3% 1.3% 1.4% 1.4% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 Non-Interest Expense to Average Assets As of 3/31/2025, the average bank non-interest expense to average assets was 2.5%. Our non-i
Slide 24: Competitive Shareholder Returns
Competitive Shareholder Returns 24 Dividend Book-value appreciation 1.6% 7.9% increase 6.3% Increased 2024 annual cash dividend 13.6% to $0.25 per share. Measurement period noted above reflects the year-ended December 31, 2024.
Slide 25: 2024 Stock Price Performance
25 2024 Stock Price Performance
Slide 26: 2024 Stock Price Performance vs. Local Peers
2024 Stock Price Performance vs. Local Peers 26 (40.0) (30.0) (20.0) (10.0) - 10.0 20.0 2024 Stock Price Change (%) JMSB Trades In Line with SEC Reporting, Local Peers JMSB SEC Publicly Traded Local Peers (1) (1) Publicly Traded Local Peers represent 4 Washington D.C. area banks: Burke & Herbert Fin
Slide 27: JMSB Has Outperformed Over Time
JMSB Has Outperformed Over Time 27 (1) Information sourced from Yahoo! Finance with share price data as of December 31, 2024. 8.4% 9.5% 7.5% 4.7% 7.3% 5.4% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% June 2008 June 2011 November 2013 Annual Return JMSB Equity Offerings JMSB vs. NASDAQ BANK Index as of Decem
Slide 28: 2025 Outlook
28 2025 Outlook
Slide 29: Employment in Washington D.C. MSA
Employment in Washington D.C. MSA 29 Through the most recent data as of 4/30/2025, the number of employed persons remains just under an all-time high.
Slide 30: Unemployment Rate in Washington D.C. MSA
Unemployment Rate in Washington D.C. MSA 30 Washington D.C. MSA unemployment rate remains below 4% and well below COVID and Great Recession peaks.
Slide 31: Washington D.C. Home Price Index
Washington D.C. Home Price Index 31 Washington D.C. MSA home prices continue to appreciate.
Slide 32: Northern Virginia Business Leader Survey
Northern Virginia Business Leader Survey 32 54% of business leaders are very or somewhat optimistic about their companies’ performance in the next six months. 57% of respondents expect their capital spending will remain the same, increase, or increase significantly in the next six months. 68%
Slide 33: Outlook
Outlook 33 Local and national economies experiencing uncertainty stemming from tariffs and government efficiency initiatives Most recent Federal Reserve data indicates the Washington D.C metropolitan area economy remains strong Maintain conservative strategy by emphasizing exceptional asset quali
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