First Bancshares, Inc. · OTC:FIBH
First Bancshares — Investor Presentation (May 2022)
17 slides from First Bancshares's investor presentation, May 19, 2022
Slide 1: 2021 Annual Report
| ~ 2021 Annual Report ‘“ & * «
Slide 2: Disclosures: Forward-Looking Statements
2 Disclosures Forward - Looking Statements This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that con stitute “forward looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act
Slide 3: The First Bancshares: Building Shareholder Value
3 THE FIRST BANCSHARES: BUILDING SHAREHOLDER VALUE
Slide 4: Our Company
58.4% Efficiency Ratio, Operating (3) 18.2% Total Capital Ratio 5 th Largest Bank Headquartered in MS $6.8bn (2) Assets 13 # of Closed Transactions since 2010 (1) 4 Our Company We have the track record, scale, liquidity, capital & profitability of a top - performing community bank Company Overview 5
Slide 5: Evolution of Our Franchise
$503 $500 $540 $571 $647 $698 $830 $986 $1,080 $1,166 $1,889 $2,413 $2,532 $181 $181 $370 $447 $447 $447 $827 $1,924 $2,307 $3,264 $3,664 $4,284 $681 $721 $941 $1,094 $1,145 $1,277 $1,813 $3,004 $3,473 $5,153 $6,077 $6,816 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 '22 Acquired O
Slide 6: Improving Geographic Diversification of our Balance Sheet
Mississippi 29% Alabama 10% Florida 30% Louisiana 16% Georgia 15% Improving Geographic Diversification of our Balance Sheet 6 2015 Deposits by State March 31, 2022 Deposits by State Source: S&P Global Market Intelligence, Company documents 3/31/22 data pro forma for the recent acquisition of Beach B
Slide 7: Expansion into Mississippi's Golden Triangle: Acquisition Highlights
Expansion into Mississippi’s Golden Triangle A CQUISITION H IGHLIGHTS 7 Note: Deposit data as of June 30, 2021 Source: S&P Global Market Intelligence and Company Documents AL FL GA LA MS Albany Hattiesburg Valdosta Panama City Beach Moultrie Tallahassee Destin Pensacola New Orleans Baton Rouge Shrev
Slide 8: Pro Forma Branch Franchise
Pro Forma Branch Franchise FBMS (88) FBMS LPO (2) Beach (7) Source: S&P Global Market Intelligence Establishes FBMS‘ presence in Tampa Enhances FBMS’ market position in Fort Walton Beach and Pensacola
Slide 9: Historical Performance Over Time: Eleven Years of Record Earnings
$2.5 $3.6 $4.2 $6.3 $8.5 $9.7 $10.6 $21.2 $43.7 $52.5 $64.2 $17.4 $17.6 $17.8 $21.4 $22.1 $20.8 $21.4 $19.4 $20.5 $18.9 $19.3 $0.0 $12.0 $24.0 $36.0 $48.0 $60.0 $72.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q3 '19 Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 E
Slide 10: FBMS Performance vs. Peers
1.01% 1.09% ROAA FBMS Performance vs. Peers 10 27 132 324 Southeast Public Banks* U.S. Public Banks* Private & Public Banks Universe of Nationwide Banking Institutions With Assets Between $2.0bn and $8.0bn 13.6% 11.6% 28.3% Public Peers All Peers FBMS 5 - Year Asset CAGR MRQ ROAA Source: S&P Global
Slide 11: FBMS Performance vs. Peers
144% 125% 259% U.S. Banks Southeast U.S. Banks FBMS FBMS Performance vs. Peers 11 Source: S&P Global Market Intelligence Data as of 5/13/22 Note: Total return includes reinvestment of dividends (1) Peer group excludes banks with less than 10 years of pricing data 10 - Year Price Performance 10 - Yea
Slide 12: Which Banks Have Created Long-Term Shareholder Value?
Company Total Assets (2) ($B) 10 yr Total Shareholder Return 10 yr TBV + Dividends CAGR 10 yr Asset Growth CAGR Return on Tangible Equity (3) MRQ Fee Income / Revenue $56.0 1,711% 22% 23% 26% 17.8% 13.1 632 15 12 17 26.8 21.1 601 11 36 15 12.2 75.1 595 9 7 16 23.5 25.9 560 11 14 14 15.7 38.5 544 15
Slide 13: The First Bancshares, Inc.
- @)) TheFirst TheFirst BANCSHARES, INC. NASDAQ: FBMS
Slide 14: Appendix
Appendix
Slide 15: Non-GAAP Reconciliation
Non - GAAP Reconciliation 15 The First Bancshares, Inc. Non-GAAP For the Three Months Ended March 31, (Dollars in thousands) 2022 Net Income Available to Common $16,829 Average Common Equity $666,561 Less: Average intangible assets (185,639) Average Tangible Common Equity $480,922 Return on Average
Slide 16: Non-GAAP Reconciliation (cont.)
Non - GAAP Reconciliation (cont.) 16 The First Bancshares, Inc. Non-GAAP For the Three Months Ended, March 31, (Dollars in thousands) 2022 Net Interest Income $38,639 Non Interest Income 11,157 Non Interest Expense (28,590) Adjustments: Add: Acquisition charges 408 Add: Contributions related to Trea
Slide 17: Non-GAAP Reconciliation (cont.)
The First Bancshares, Inc. Non-GAAP Three Months Ended, March 31, (Dollars in thousands) 2022 Operating Expense Total non-interest expense $28,590 Pre-tax non-operating expenses (408) Adjusted operating expense 28,182 Operating Revenue Net interest income, FTE $39,459 Total non-interest income 11,15