Peoples Financial Corporation · OTC:PFBX
Peoples Financial — Investor Presentation (May 2018)
17 slides from Peoples Financial's investor presentation, May 7, 2018
Slide 1: Peoples Financial Corporation
Peoples Financial Corporation OTCQX: PFBX
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements and reflects industry conditions, company performance and financial results. These forward-looking statements are subject to a number of risk factors and uncertainties which could cause the Company’s actual results and exper
Slide 3: Corporate Profile
Corporate Profile •The Peoples Bank founded 1896 •Headquarters -Biloxi, MS •Employees -151 •Branches -18 •ATMs -30
Slide 4: Market Statistics – 3/31/2018
Market Statistics –3/31/2018 •Assets: $647 million •Market Cap: $70 million •Stock price 52 week range: $12.05 -$15.27 •Book value: $17.16 •Price/book: 0.81% •Shares outstanding: 5,072,794 •Insider Ownership: 35% •Institutional Ownership: 49%
Slide 5: First Quarter 2018 Update
FIRST QUARTER 2018 UPDATE •Net earnings totaled $292,000, a 395% increase over 1Q17 •Earnings for the year-ended December 31, 2017 totaled $2,758,000 vs $167,000 for the prior year •Net Interest Margin improved 25bps in 1Q18 vs 1Q17 •Loan volume decreased 9% in 1Q18 vs 1Q17 •Primary capital base of
Slide 6: Analysis of Quarterly Interest Income & Interest Expense
Analysis of Quarterly Interest Income & Interest Expense(in thousands) 1Q-20172Q-20173Q-20174Q-20172017 (YE)1Q-2018 Interest and fees on loans $ 3,274 $ 3,295 $ 3,165 $ 3,236 $ 12,970 $ 3,233 U.S. Treasury 415 375 413 399 1,602379 U.S Government Agencies142 136 126127531122 Mortgage -backed securiti
Slide 7: Asset Quality: Aging of Past Due Loans
ASSET QUALITY AGING OF PAST DUE LOANS (in thousands) 90 Days 30 -59 Days 60 -89 Days Accruing Non Accruals Total % of Total # Amt ($)# Amt ($)# Amt ($)# Amt ($)# Amt ($)Total LoansLoans ($) 12/31/11 136 17,374 27 3,924 13 1,832 64 57,593 240 80,723 18.7 432,407 12/31/12137 17,681 31 2,809 11 1,539 5
Slide 8: Asset Quality: Non Performing Assets
ASSET QUALITYNon Performing Assets NONACCURAL LOANS (in thousands) Year-EndAmount ($) 201157,593 201253,891 201326,131 201433,297Nonaccruals in Bankruptcy 201515,186Amount ($)Relationships 201611,8534,5286 201713,8105,354 *10 03/201812,8913,2959 * One account added 64 loans in 3Q-17
Slide 9: Loan Loss Reserve
LOAN LOSS RESERVEAllowance For Loan Loss Reserve Year Ended December 31 201320142015201620173/2018 ALL beginning of period $8,857 $8,934 $9,206 $8,070 $5,466 $6,153 Recoveries538 598 390350842175 Charge-Offs(10,122) (7,730) (4,108) ( 3,522)(271)(151) Provision for loan losses9,6617,4042,58256811635
Slide 10: Capital
CAPITAL(in thousands) Book Value Total Primary Capital Year-EndPer Share($)Capital ($)to Avg. Assets (%) 200415.44 85,801 15.87 2005 * 15.7787,50313.67 200617.7198,23311.91 200719.56106,54212.13 200820.27107,00012.81 200920.11103,55812.49 201019.68101,35712.96 201121.31109,45214.65 201221.61111,0211
Slide 11: Looking ahead into 2018: Why Invest in PFBX – Earnings
Looking ahead into 2018Why Invest in PFBX EARNINGS ValuationNet Operating Income / (Loss)AllowanceLoss Carryforward 2014Net Loss($10,004,000)$ 8,140,000 2015Net Loss($ 4,592,000)$10,106,000 2016Net Income$ 167,000$11,560,000 2017Net Income$ 2,758,000$ 7,934,000$ 9,004,000 03/2018Net Income$ 292,000
Slide 12: Looking ahead into 2018: Why Invest in PFBX
Looking ahead into 2018Why Invest in PFBX •MS Gulf Coast scheduled to receive bulk of BP Settlement -$600 million over 15 years •City of Biloxi expected to spend $200 million infrastructure improvements by YE-2019 •Current primary capital to average assets is 14.24% •Reestablishing regular dividend
Slide 13: Looking ahead into 2018: Why Invest in PFBX
•Shareholder & Management interests are aligned •Net Interest Margin was 3.10% for 1Q18 vs 2.85% for 1Q17 •Cost of Funds was 0.24% (1Q18), lowest on MS Gulf Coast •Loan Loss Provision –Declining for past five years –2.19% as of 1Q18 –Lowest on the MS Gulf Coast Looking ahead into 2018Why Invest in P
Slide 14: Looking ahead into 2018: Why Invest in PFBX
•Moved to OTCQX Best Market from NASDAQ Capital Market •Other Real Estate (“ORE”) –March/2008, eight properties totaling $8 –March/2015, ORE peaked totaling $12.3 million –Since Great Recession, sold 185 properties totaling $19.1 million Looking ahead into 2018Why Invest in PFBX
Slide 15: Asset Quality: Schedule of Gain or Loss on ORE Sold
ASSET QUALITYSchedule of Gain or Loss on ORE Sold as of 12/31(in thousands) Carrying Net Sale Gain (Loss) # Properties ORE Year-EndValue ($)Price ($)ORE Sold ($)DisposedBook Value ($) 20092,897 3,047 150 11 1,521 2010 1,414 1,328 (86) 14 5,744 2011 2,101 1,921 (180) 25 6,153 2012 1,567 1,546 (21) 16
Slide 16: Market Area
PEOPLES FINANCIAL CORPORATION | Market Area
Slide 17: Information
Information Corporate Office Mailing Address P.O. Box 529 Biloxi, MS 39533 Physical Address 152 Lameuse St. Biloxi, MS 39530 (228)435-8205 Website www.thepeoples.com Shareholder Information Asset Management & Trust Department The Peoples Bank P.O. Box 1416 Biloxi, MS 39533-1416 (228)435-8208 investo