First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (October 2022)
33 slides from First Us Bancshares's investor presentation, Oct 27, 2022
Slide 1: Investor Presentation As of September 30, 2022
Investor Presentation As of September 30, 2022 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation of First US Bancshares, Inc. (“FUSB” or the “Company”) contains forward-looking statements, as defined by federal securities laws. Statements contained in this presentation that are not historical facts are forward-looking statements. These statements may
Slide 3: Presentation Disclosure
Presentation Disclosure This presentation has been prepared by FUSB solely for informational purposes based on its own information, as well as information from public sources. This presentation has been prepared to assist interested parties in making their own evaluation of FUSB and does not purport
Slide 4: Contents
Contents Corporate Profile..…………..……………………………..……………………………………...….…....5 Strategic Focus………………………………………………………………………………...……………8 3Q and Year-to-Date 2022 Highlights……...…..…………………….…………………..…………....12 Loan Portfolio Trends………………………………………………………………………………………13 Recent Financial Trends………………….…........………
Slide 5: Corporate Profile
Company Founded: 1952 Headquarters: Birmingham, AL First US Bank: 15 Branches (1) / 2 LPOs Acceptance Loan Co: 0 Branches (2) Total Assets: $989 million Net Loans: $741 million Total Deposits: $847 million Exchange: Nasdaq: FUSB Stock price: $7.96 Tangible BV: $12.95 per share (3) Price to TBV: 61%
Slide 6: Corporate Profile: Senior Leadership Team
Corporate Profile Senior Leadership Team James F. House President and Chief Executive Officer Veteran banker with SouthTrust Bank for 31 years Business consultant 2005 to 2009 focusing on management, investments, and commercial and consumer lending issues Florida Division President with BankTrust fr
Slide 7: First US Bank Branch and LPO Location Map
Corporate Profile First US Bank – Branch and LPO Location Map
Slide 8: Strategic Focus
` PRIMARY GOALS Grow EPS, ROA and ROE Consistent, diversified loan and deposit growth Adherence to strong credit culture Effective expense control – both interest and non-interest LENDING FOCUS EXPENSE CONTROL LONGER TERM GROWTH EFFORTS Superior organic growth in earning assets Adherence to commerci
Slide 9: Update on Recent Strategic Initiatives
Strategic Focus Update on Recent Strategic Initiatives Strategic Focus: In 2021, the Company undertook certain initiatives as part of a long-term strategy to reduce expenses, fortify asset quality, and focus the Company’s loan growth efforts. These initiatives included cessation of new business at A
Slide 10: Building and Maintaining a Diversified Balance Sheet
Strategic Focus Building and Maintaining a Diversified Balance Sheet Loan Composition as of 9/30/2022 Deposit Composition as of 9/30/2022
Slide 11: A Favorable Geographic Footprint
Strategic Focus A Favorable Geographic Footprint Potential Markets for Growth Alabama: Auburn Dothan Huntsville Montgomery Florida: Destin Panama City Pensacola Georgia: Athens Atlanta Augusta Columbus Macon Mississippi: Hattiesburg Jackson Meridian South Carolina: Greenville Tennessee: Memphis Nash
Slide 12: Quarter and Year-to-Date Earnings Improvement
Quarter and Year-to-Date Earnings Improvement Diluted earnings per share (EPS) of $0.29 in 3Q2022, compared to $0.22 in 2Q2022 and $0.13 in 3Q2021 Diluted EPS of $0.71 for the nine months ended September 30, 2022, compared to $0.41 in corresponding period of 2021 Net interest margin totaled 4.10% in
Slide 13: Loan Portfolio Trends: Growth in Consumer Indirect, Multi/1-4 Family and CRE
Loan Portfolio Trends Growth in Consumer Indirect, Multi/1-4 Family Residential and CRE
Slide 14: Non-Residential CRE and Construction Portfolio Breakdown
Loan Portfolio Trends Non-Residential CRE and Construction Portfolio Breakdown Non-Residential CRE Breakdown as of 9/30/2022 Dollars in thousands Construction Breakdown as of 9/30/2022
Slide 15: Indirect Portfolio
Loan Portfolio Trends Indirect Portfolio Significant growth since 2020 due to state expansion and consumer choices during the pandemic Average yield of 5.35% in 3Q2022 Weighted average credit score 763 as of 9/30/22 Enhanced geographic diversification of the loan portfolio This portfolio segment inc
Slide 16: Indirect Portfolio Breakdown
Loan Portfolio Trends Indirect Portfolio Breakdown Indirect by Collateral as of 9/30/2022(1) Indirect by State as of 9/30/2022(1)(2) (1) Dollars in thousands (2) Represents state in which the participating dealer operates
Slide 17: Asset Quality
Loan Portfolio Trends Asset Quality – Increase in charge-offs at ALC contributed to additional loan loss provisions 5 Quarter Annualized Net Charge-offs
Slide 18: Quarter Annualized Margin Report
Recent Financial Trends 5 Quarter Annualized Margin Report (1) Average Rate on Interest-Bearing Liabilities and Non-Interest-Bearing Deposits
Slide 19: Nonperforming Assets and Nonperforming Loans
Recent Financial Trends Asset Quality – Nonperforming Assets and Nonperforming Loans Nonperforming Assets (1) Nonperforming Loans (2) Nonperforming Assets: Nonaccrual loans & OREO Nonperforming Loans: Nonaccrual loans
Slide 20: Profitability Metrics
Recent Financial Trends Profitability Metrics (1) Calculations of tangible balances and measures are included in the Appendix
Slide 21: Balance Sheet Metrics
Recent Financial Trends Balance Sheet Metrics
Slide 22: Non-interest Income and Expense
Recent Financial Trends Non-interest Income and Expense Non-interest Income Other lncome Other sources of non-interest income include: Bank-owned life insurance Gains on the sales of premises and equipment and other assets Credit insurance commissions and fees Non-interest Expense
Slide 23: Share Price vs. Tangible Book Value
Recent Financial Trends Share Price vs. Tangible Book Value (61% as of 9/30/2022)(1) (1) Calculations of tangible balances and measures are included in the Appendix
Slide 24: Selected Financial Data
Recent Financial Trends Selected Financial Data (1) Calculations of tangible balances and measures are included in the Appendix (2) Efficiency ratio = non-interest expense / (net interest income + non-interest income)
Slide 25: Selected Balance Sheet Information
Recent Financial Trends Selected Balance Sheet Information (dollars in thousands) The decrease in shareholder’s equity in 2022 resulted primarily from the decrease in valuations of available-for-sale investment securities, recorded net of tax in accumulated other comprehensive income, resulting from
Slide 26: Income Statements
Recent Financial Trends Income Statements (dollars in thousands, except per share data)
Slide 27: Equity Capital
Risk Management Equity Capital (1) Calculations of tangible balances and measures are included in the Appendix.
Slide 28: Managing Investment Risk and Liquidity
Risk Management Managing Investment Risk and Liquidity Investment Portfolio Composition (Book Value) As of 9/30/2022 Summary of Securities Portfolio The portfolio is structured with relatively short expected average lives in order to enhance liquidity Weighted average book yield was 1.98% in 3Q2022
Slide 29: Interest Rate Sensitivity
Risk Management Interest Rate Sensitivity The following table summarizes the forecasted impact on net interest margin and net interest income using a base case scenario given upward and downward movements in interest rates of 100, 200 and 300 basis points (“bps”) based on forecasted assumptions of p
Slide 30: Appendix: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 31: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data) (1) Calculation of Return on average tangible common equity (annualized) = ((net income (d) / number of days in period) * number of days in year) / average tangible shareholders’ equity (c)
Slide 32: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 33: Contact: Thomas S. Elley, Chief Financial Officer
www.firstusbank.com Contact: Thomas S. Elley Chief Financial Officer telley@firstusbank.com 205.582.1200
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