First Bancshares, Inc. · OTC:FIBH
First Bancshares — Investor Presentation (April 2021)
23 slides from First Bancshares's investor presentation, Apr 23, 2021
Slide 1: The First Bancshares, Inc. April 2021
TheFirst BANCSHARES, INC. April 2021 NASDAQ: FBMS
Slide 2: Forward-looking statements
This IP and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exch
Slide 3: The First Bancshares: Building Shareholder Value
3 The First Bancshares: Building Shareholder Value
Slide 4: Our Company: Company Overview
55.2%Q1 ‘21 Efficiency Ratio, Operating (1) 19.0%Total Capital Ratio as of March 31, 2021 5thLargest Bank Headquartered in MS $5.4bnAssets as of March 31, 2021 12# of Closed Transactions since 2010 (2) 4 Our Company Company Overview 84Locations in Gulf South: MS, LA, AL, FL & GA 1996Bank Established
Slide 5: Continuity of Leadership through Multiple Business Cycles
Continuity of Leadership through Multiple Business Cycles 5 Jerome BrownExecutive VPCommunity Development18 years experience Carol DanielExecutive VPCredit Administrator40 years experience Hayden MitchellExecutive VPLoan Ops & Mortgage 48 years experience Ion MixonExecutive VPRisk Manager22 years ex
Slide 6: Evolution of Our Franchise
Evolution of Our Franchise December 31, 2009 March 31, 2021 Total Assets ($mm) – Organic and Acquisitive Growth Source: S&P Global Market IntelligenceData as of 12/31 of each year, respectively; Q1 ‘21 data as of 3/31/21 2010 – Q1 ‘21 CAGR: 26% FBMS Branch (9) FBMS Branch (82) FBMS LPO (2) 6 Hatties
Slide 7: Highlights
7 Highlights Franchise and Management Strength Gulf South markets remain resilient through the COVID pandemic; unemployment well below national average84 locations across 5 states; ranked in the top 10 by deposit market share by county / parish in ~74% of our franchiseGeographically diversified loan
Slide 8: Improving Geographic Diversification of our Balance Sheet
Improving Geographic Diversification of our Balance Sheet 8 2015 Deposits by State March 31, 2021 Deposits by State Source: S&P Global Market Intelligence, Company documents2009 and 2015 data as of 6/30 2015 Loans by State March 31, 2021 Loans by State 2009 Loans by State 2009 Deposits by State
Slide 9: Our Market Demographics
Our Market Demographics 9 Source: S&P Global Market Intelligence Note: Demographic information may not be indicative of the characteristics of the particular markets in which we operate(1) Demographic data deposit weighted by county; deposit data as of 3/31/21 ‘21 – ‘26 Projected Population Growth (
Slide 10: Market Information and Historical Pricing
10 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1 ‘21 Average Stock Price ($) $9.21 $12.99 $14.54 $16.40 $18.88 $29.06 $35.08 $31.79 $24.54 $33.57 Average Market Capitalization ($)In Millions $28.5 $57.3 $75.8 $88.1 $101.4 $277.4 $455.0 $542.9 $505.7 $707.5 Average Daily Volume (shares) 1,679 3,841
Slide 11: Financial results
11 Financial results
Slide 12: Historical Performance Over Time: Ten Years of Record Earnings
EPS Net Income ($mm) 12 Pre-tax Pre Provision Income ($mm), Operating (1) PTPP ROAA, Oper. (1) Source: S&P Global Market Intelligence Annual data as of 12/31 of each year, respectively; quarterly data as of or for the three months ended each respective quarter(1) Refer to appendix for “Non-GAAP Reco
Slide 13: Historical Profitability Trends
Historical Profitability Trends 13 Source: S&P Global Market Intelligence, Company Documents Data as of or for the three months ended each respective quarter(1) Refer to appendix for “Non-GAAP Reconciliation” * Inclusive of $7.0 million bargain purchase gain Reported ROAA (%) ROAA, Operating (%) (1)
Slide 14: Historical Profitability Trends
14 Historical Profitability Trends Non-interest Income, Oper. / Adj. Operating Revenue (%) (1) Non-interest Income YTD (%) Efficiency Ratio, Operating (%) (1) Adjusted Operating Expense / Average Assets (%) (1) Source: S&P Global Market Intelligence, Company Documents Data as of or for the three mon
Slide 15: Strong Balance Sheet & Earnings Power
15 Strong Balance Sheet & Earnings Power TCE+ALL / Loans (%) Core Deposits (%) PTPP ROAA, Operating (1) (%) Loans / Deposits (%) 150 bps higher than peers 30 bps higher than peers 11 percentage points lower than peers 7 percentage points higher than peers Source: S&P Global Market Intelligence Note:
Slide 16: Asset Quality Over Time
16 Asset Quality Over Time NPAs / Loans + OREO (%) NCOs / Average Loans (%) Reserves / NPLs (%) Reserves / Loans (%) Source: S&P Global Market IntelligenceYearly data as of or for the twelve months ended each respective year; quarterly data as of or for the three months ended each respective quarter
Slide 17: History of Prudent Credit Culture
17 History of Prudent Credit Culture 15-Year NCOs / Avg. Loans vs. Banking Industry (%) Source: S&P Global Market Intelligence, FDICYearly data as of or for the twelve months ended each respective year; Note: FDIC data as of 12/31/2020
Slide 18: Capital & Liquidity Position
18 Capital & Liquidity Position TCE / TA (%) (1) Leverage Ratio (%) Total Risk Based Capital Ratio (%) CET1 Ratio (%) Source: S&P Global Market Intelligence Data as of 12/31 of each year, respectively; Q1 ‘21 data as of 3/31/21(1) Non-GAAP measure, see reconciliation to closest GAAP measure in appen
Slide 19: COVID-19 Pandemic Response
Moved as many as practical employees to work by remote accessIncreased the frequency of facility janitorial servicesRotated access as much as practical for employees whose function could not be performed remotelyProvided lunch daily to on site personnel to limit their off premise exposure during the
Slide 20: COVID-19 Loan Modifications
20 COVID-19 Loan Modifications Loan Modifications Resulting from COVID-19 as of 3/31/21 Loan Modification Trends Dollars in millions Source: Company documents(1) Total loans as of 3/31/21 excludes $221.7 million of PPP-related loans Aggregate Loan Modification Trends (1) Loan Modification Changes in
Slide 21: Escalated Monitoring
21 Escalated Monitoring Dollars in millionsSource: Company DocumentsData as of 3/31/21
Slide 22: Acquisition and capital raise history
Source: S&P Global Market Intelligence Note: Assets shown as of next quarter after close; dates are as of transaction close, unless otherwise specified 3/22/2013$22.0M Equity OfferingAssets: $789 million 4/23/2013Acquired First Baldwin Bancshares, Inc. Assets: $965 million 7/1/2014Acquired BCB Holdi
Slide 23: Seven Reasons To Invest in The First
Ten Years of Record Earnings Superior Performance and Execution Strategically Focused on Acquisitive and Organic Growth Strong Capital Structure Situated in Growing Markets Shareholder Value and Return Demonstrated Successful Leadership Team 23 Seven ReasonsTo Invest in The First
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