Blue Ridge Bankshares, Inc. · AMEX:BRBS
Blue Ridge Bankshares — Q1 2020 Earnings Presentation
21 slides from Blue Ridge Bankshares's earnings presentation, May 6, 2020
Slide 1: Blue Ridge Bankshares, Inc. Investor Presentation First Quarter 2020
Blue Ridge Bankshares, Inc. Investor Presentation First Quarter 2020 Exhibit 99.1
Slide 2: Safe Harbor Regarding Forward-Looking Statements
Safe Harbor Regarding Forward-Looking Statements This presentation contains forward-looking statements regarding the Company. Forward-looking statements are typically identified by words such as “believe,” “expect”, “anticipate”, “intend”, “target”, “estimate”, “continue”, “positions”, “prospects”,
Slide 3: Investment Highlights
P Experienced Management Team Prior senior leadership roles at significantly larger institutions In total, management has more than 125 years of banking industry experience Investment Highlights P Industry Momentum Pipeline of talented bankers that want to join due to energy, passion, and vision of
Slide 4: Corporate Profile
Corporate Profile Locations Map #3 community bank market share(1) in Charlottesville, VA MSA, #4 in Harrisonburg , and Martinsville, VA MSAs Significant deposit upside in attractive MSAs 14 Virginia branches, 1 in North Carolina 15 mortgage offices in NC, VA, MD, and SC $769.2 million $1.03 billion
Slide 5: Financial Highlights
Financial Highlights Annualized Source: Company financials Tangible book value per common share is a non-GAAP calculation. See Appendix for reconciliation between GAAP and Non-GAAP disclosures.
Slide 6: Management Team
Brian K. Plum President & CEO Amanda G. Story Chief Financial Officer E. Neal Crawford, Jr. CEO, Hampton Roads Market James McCarty Chief Administrative Officer Management Team Gary R. Shook Chief Operating Officer President and CEO of Blue Ridge Bankshares, Inc. since December 2014 Previously serve
Slide 7: BRBS Mission Statement and Core Values
BRBS Mission Statement and Core Values 127 Years of Customer Service Mission Statement Our mission is to create financial value and opportunity for our shareholders, customers, employees, and communities by providing evolving, flexible, and customized solutions for the needs of our clients ….and to
Slide 8: COVID-19 Response
Branch operations redirected to drive-thru and digital channels beginning mid-March Lending focus shifted from loan originations to portfolio maintenance and protection Working with borrowers on loan deferrals up to six months depending on borrower industry Reduce noninterest expenses, including per
Slide 9: Paycheck Protection Program
The Company received Small Business Administration (“SBA”) approval for over 2,100 loans totaling approximately $341.0 million as of April 29, 2020 Estimated SBA processing fees earned by the Company approximate $9.0 million PPP loans, which have a statutory loan interest rate of 1.00%, largely fund
Slide 10: Balance Sheet Management
Lower Cost of Deposits Responded promptly to Federal Reserve rate cuts Cost of Deposits (Quarter Ended March 31, 2020): 0.95% Cost of Deposits (Month Ended April 30, 2020): 0.75% Stronger Liquidity Profile Response to COVID-19 pandemic Obtained $95 million in March and April Diverse sources and term
Slide 11: Markets of Operation – Virginia & Maryland
The region is home to the 7th busiest port in the U.S. with approximately 1.3 million TEUs imported during 2018(1) The area’s economy is heavily influenced by the largest concentration of military personnel outside of the Pentagon(2) The region is home to a young populace, median age of 37.1 years v
Slide 12: Markets of Operation – North Carolina
Greensboro MSA emerging logistical and transportation hub on East Coast More than $10.2 billion of adjusted gross income has migrated into the area since 1992(1) The region provides a high quality of life, enticing people from around the U.S. and students from nearby high caliber universities such a
Slide 13: Deposit Portfolio
Deposit Portfolio Source: SNL Financial, Company financials. Financial data as of or for the quarter ended March 31, 2020 Deposit Funded Balance Sheet Growth ($ millions) 2015 – Q1 2020 CAGR Total CAGR: 29.7% For the Quarter Ended ($000), YoY 3/31/20 3/31/19 Change (%) Noninterest bearing DDA 178,48
Slide 14: Held-for-Investment Loan Portfolio
Held-for-Investment Loan Portfolio Note: Excludes loans held-for-sale. Source: SNL Financial, Company financials. Financial data as of or for the quarter ended March 31, 2020. NAICS coding in Company’s loan accounting system. Strong and Stable Total Loan Growth ($ millions) 2015 – Q1 2020 CAGR Total
Slide 15: Consistent Balance Sheet Growth
Consistent Balance Sheet Growth Note: Core deposits defined as total deposits less brokered and listing service deposits. Source: SNL Financial and Company financials ($ in millions)
Slide 16: Robust and Consistent Profitability
Robust and Consistent Profitability * - 2020 numbers annualized for YTD results through Q1. See Appendix for reconciliation of Non-GAAP Disclosures 2016 includes merger costs of $1.9 million associated with the acquisition of River Bancorp, Inc.(“RBI”), 2019 and 2020 includes merger costs of $1.7 mi
Slide 17: Asset Quality and Credit Culture
Asset Quality and Credit Culture Source: Company financials. Bank-level data. * - Includes loans marked with a credit mark in the acquisition of RBI in 2016 and VCB in 2019. Credit Mark for RBI and VCB at March 31, 2020 was $159 thousand and $1.8 million, respectively. Commentary Net Charge-offs/Ave
Slide 18: Per Share Growth
Per Share Growth * - 2020 data as of March 31, 2020. Earnings per share annualized based on net income through March 31, 2020. See Appendix for reconciliation of Non-GAAP disclosures. Source: Company financials. Note: BRBS issued common stock in late Q4 2014/Q1 2015, Q1 2019, and Q4 2019. New shares
Slide 19: Robust Fee Platform Strategy
* - Washington DC based mortgage team joined in July 2018 and has since added an office in Virginia Beach. Robust Fee Platform Strategy Focus on business lines that supplement and support the core commercial banking model: Mortgage: Countercyclical in nature and purchases remain very human process.
Slide 20: Appendix
Appendix BLUE RIDGE 5] BANK
Slide 21: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures Tangible Book Value Per Share Q1 2020 2019 2018 2017 2016 2015 (In thousands, except per share data) Common equity (GAAP) $ 90,274 $ 92,338 $ 39,620 $ 36,442 $ 33,627 $ 24,101 Less: Goodwill and Amortizable Intangibles (23,456) (23,633) (4,007) (3,931) (3,229)
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