Fvcbankcorp, Inc. · NASDAQ:FVCB
Fvcbankcorp — Investor Presentation (October 2024)
24 slides from Fvcbankcorp's investor presentation, Oct 28, 2024
Slide 1: FVCBankcorp, Inc. Fall 2024
FVCBankcorp, Inc. NASDAQ: FVCB Fall 2024
Slide 2: Forward-Looking Statements; Non-GAAP Information
Forward-Looking Statements; Non-GAAP Information This presentation may contain statements relating to future events or future results of and practices, as may be adopted from time to time by bank regulatory agencies, the SEC, the FVCBankcorp, Inc. (“FVCB”) that are considered “forward-looking statem
Slide 3: FVCB Company Snapshot
FVCB Company Snapshot LPO 6 7 3 8 4 1 2 5 (1) Consolidated financial data as of the three months ended September 30, 2024, unless otherwise noted. (2) Nonperforming assets ($3.6 million) defined as nonaccruals, loans past-due 90 days or more, and other real estate owned. (3) Non-GAAP financial measu
Slide 4: FVCB Business Strategy
FVCB Business Strategy FVCB aims to capitalize on market opportunities while maintaining disciplined and comprehensive credit underwriting. FVCB’s focus on providing high-touch, responsive, relationship-based client service allows it to compete effectively and exceed the needs of customers. Opportun
Slide 5: Technology Deployment Driving Top-Tier Performance
Technology Deployment Driving Top-Tier Performance Strategically Aligned Solutions Lending Treasury and Payments • Loan origination platform provides paperless workflow solution and • Online deposit account opening for businesses and consumers. automates approval process and tickler tracking. • Zell
Slide 6: An Attractive Investment Opportunity in the DC and Baltimore MSAs
An Attractive Investment Opportunity in the DC and Baltimore MSAs Well positioned in one of the most attractive banking markets in the U.S. • Sixth largest MSA with favorable demographics, economic trends and business investments. 1 • Consolidation in local markets has created growth opportunities f
Slide 7: Well Positioned In One of the Most Attractive Markets in the U.S.
Well Positioned In One of the Most Attractive Markets in the U.S. Top 10 MSAs By Population Vibrant Economy • Washington D.C. and Baltimore MSAs contain 30 and 7 Fortune 1000 companies, respectively. • Over 3.3 million private sector employees and nearly 1 million public sector employees in the Wash
Slide 8: Track Record of Exceptional Growth and Strong Profitability
Track Record of Exceptional Growth and Strong Profitability Relationship Driven Model Continues to Create Balance Sheet Leverage Total Assets ($M) Total Loans, Net of Fees ($M) Total Deposits ($M) $1,875 $1,961 $2,344 $1,840 $1,829 $2,293 $1,884 $2,203 $2,191 $1,830 $1,845 $1,504 $1,466 $1,532 $1,82
Slide 9: Track Record of Exceptional Growth and Strong Profitability
Track Record of Exceptional Growth and Strong Profitability Net Income and Pre-Tax Pre-Provision Income (non-GAAP) ($M)1 Income, Expense and Efficiency Ratio (non-GAAP) (%)1 Net Income Pre-tax pre-provision income (1) Income (1) Expense (1) Efficiency(1) 64.0% 62.7% $33.7 56.8% 54.3% 53.2% $29.2 50.
Slide 10: Disciplined, Low-Risk Commercial Balance Sheet
Disciplined, Low-Risk Commercial Balance Sheet Well Diversified Loan Portfolio Balanced Loan Portfolio Segmentation CRE 47.84% C&I 15.80% Resi 17.16% Other 0.47% Multifamily 8.90% C&D 9.26% Warehouse 0.57% (1) Yield calculated based on average balance for the period. (2) The above balances are based
Slide 11: Disciplined, Low-Risk Commercial Balance Sheet
Disciplined, Low-Risk Commercial Balance Sheet • 9 Loan officers with deep connections to the markets; average experience of over 21 years. • Focused effort on commercial, real estate and small business, including government contracting. • Expanded focus on government contracting provides large sour
Slide 12: Disciplined, Low-Risk Commercial Balance Sheet
Disciplined, Low-Risk Commercial Balance Sheet FVCbank Office Exposure by County Other 13% • Based on our stress analysis, the Washington DC Office portfolio has low 3% refinance risk with $27.4 million Fairfax County, VA 27% in maturing loans through 2026. Prince George County, MD 5% • Only $2.3 mi
Slide 13: Disciplined, Low-Risk Commercial Balance Sheet
Disciplined, Low-Risk Commercial Balance Sheet Expected Repricing will Improve Revenue Growth Commercial Loan Repricing Schedule (September 30, 2024) • 64% of the commercial loan portfolio is fixed rate. • 37% of the commercial loan portfolio with fixed or adjustable rates will reprice or mature by
Slide 14: Disciplined, Low-Risk Commercial Balance Sheet
Disciplined, Low-Risk Commercial Balance Sheet Proven History of Strong Credit Metrics Asset Quality Trends Over Time¹ ($000s) Well-Reserved Loan Portfolio ($000s) ALLL Balance - 12/31/2023 $18,871 OREO Net (Charge-Offs) / Recoveries 98 Nonperforming Loans Provision (Reversal) for Loan Losses 98 $4.
Slide 15: Strong Core Deposit Base
Strong Core Deposit Base Deposit Portfolio Composition As of 12/31/2019 As of 9/30/2024 • Full-service relationships continue to drive core deposit growth. Interest Interest Bearing Bearing 40.8% 56.5% ‒ Approximately three quarters of the Noninterest commercial loan portfolio retains a deposit Bear
Slide 16: Strong Liquidity
Strong Liquidity September 30, 2024 Total Availability Total Used Available Remaining Cash $177,626 $ - $177,626 Unencumbered Securities 114,865 - 114,865 FHLB 490,742 (130,000) 360,742 FRB - BIC Program 155,049 - 155,049 Unsecured Lines of Credit 185,000 - 185,000 Total Liquidity Sources: $1,123,28
Slide 17: Experienced Leadership Team
Experienced Leadership Team Management Team With Strong Ties to The Market FVCB’s executive management team consists of seven officers with over 218 years of combined experience in the Washington, D.C. metropolitan area. • David Pijor was the founding Chairman of the Board of James Monroe Bancorp, w
Slide 18: Experienced Leadership Team
Experienced Leadership Team Governed and Supported By An Exceptional Board • Served as Chairman of the Board and CEO of FVCB • Served as Vice Chairman of the Board since 2015 since its organization • Served as President and COO of FVCB from 2008 to David Pijor L. Burwell Gunn Jr. • Lead organizer, C
Slide 19: Appendix: Additional Materials
Appendix: Additional Materials
Slide 20: FVCB Franchise History
FVCB Franchise History Since inception, FVCbank has successfully executed a strategic plan focused on organic growth and opportunistic acquisitions without compromising asset quality or financial discipline. February 2012 . Follow‐On Offering #2 January 2021 $6.7mm @ $13.00/$13.50 per share August 2
Slide 21: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 21
Slide 22: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 22
Slide 23: 5-Year Loan History
5-Year Loan History For the Period Ended 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 9/30/2024 ($000s) C&I Portfolio Commercial & Industrial $ 96,995 $ 265,866 $ 196,428 $ 241,510 $ 219,873 $ 299,598 Owner Occupied CRE 205,892 182,851 190,334 206,766 212,889 196,269 Total C&I $ 302,887 $
Slide 24: Financial Highlights
Financial Highlights (1) Performance ratios presented are calculated using annualized GAAP net income. (2) Non-GAAP financial measures exclude one-time transaction costs of $3.3 million for 2018, $0.13 million for 2019, $0.68 million for 2020, $1.4 million for 2021, and $0.13 million for 2022, $4.6