Pcb Bancorp · NASDAQ:PCB
Pcb Bancorp — Shareholder Meeting (May 2023)
16 slides from Pcb Bancorp's shareholder meeting presentation, May 25, 2023
Slide 1: Annual Meeting of Shareholders May 25, 2023
Annual Meeting of Shareholders May 25, 2023
Slide 2: Forward-Looking Statement & Non-GAAP
Forward-Looking Statement & Non-GAAP Forward-Looking Statement This presentation contains forward-looking statements. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future even
Slide 3: Market Information
Market Information 5/23/23 Market Cap $206.0 million Stock Price Per Share $14.39 52-Week Range $12.86 - $21.00 Dividend Yield 5.00% Dividend Payout Ratio (2Q22 – Q123) 25.21% Outstanding Shares 14,318,890 Stock Information 1Q23 or 3/31/23 Diluted Earnings Per Share (“Diluted EPS”) $0.70 Cash Divide
Slide 4: Historical Performance
Historical Performance (1) At period end (2) Not presented in accordance with GAAP. See “Non-GAAP Measures” for reconciliation of these measures to their most comparable GAAP measures
Slide 5: 2022 & 1Q23 Highlights
2022 & 1Q23 Highlights • #1 - Recognized as the #1 performing bank among 300 largest publicly traded banks in the U.S. by BankDirector based on our overall 2021 performance. • Rebranding – Unveiled our new name “PCB BANK” with a new logo. People, Community, and Business banking. • Strong Financial P
Slide 6: Selected Financial Data
Selected Financial As of or For the Three Months Ended Compared to 12/31/22 Compared to 03/31/22 ($ in Thousands, Except Per Share Data) 3/31/23 12/31/22 3/31/22 Amount Percentage Amount Percentage Income Statement Summary: Interest Income $ 34,536 $ 31,576 $ 20,894 $ 2,960 9.4% $ 13,642 65.3% Inter
Slide 7: Loan Overview
Loan Overview (1) Per regulatory definition in the Commercial Real Estate (“CRE”) Concentration Guidance 1Q23 Highlights • HFI loans increased $46.4MM (2.3%) to $2.09B • CRE loans increased $5.0MM (0.3%), C&I loans increased $18.4MM (7.4%) & residential mortgage loans increased $23.2MM (7.0%)
Slide 8: Credit Quality & Peer Comparison
Credit Quality & Peer(1) Comparison (1) Korean-American banks operating in Southern California (2) Source: UBPR (3) PCB Bank’s Peer Group per UBPR (4) This adjusted ACL to HFI Loans ratio excludes SBA PPP loans and is not presented in accordance with GAAP. See “Non-GAAP Measures” for reconciliation
Slide 9: Deposits
Deposits (1) Not presented in accordance with GAAP. See “Non-GAAP Measures” for reconciliation of this measure to its most comparable GAAP measure. 1Q23 Highlights • Total deposits increased $95.7MM (4.5%) and retail deposits increased $25.7MM (1.3%) • Uninsured deposits decreased to $1.02B (47.6% o
Slide 10: Profitability
Profitability (1) PTPP (Pre-Tax Pre-Provision) income, and adjusted EPS, ROAA and ROAE for PTPP are not presented in accordance with GAAP. See “Non-GAAP measure” for reconciliations of these measures to their most comparable GAAP measures. (2) Full-Time Equivalents 1Q23 Highlights • While net income
Slide 11: Net Interest Margin
Net Interest Margin (1) Annualized 1Q23 Highlights • Net interest income decreased $1.8MM to $22.4MM from $24.3MM for 4Q22. • Net interest margin decreased to 3.78% from 4.15% for 4Q22 mainly due to an increase in cost of average interest-bearing liabilities, partially offset by an increase in yield
Slide 12: Capital
Capital (1) Not presented in accordance with GAAP. See “Non-GAAP Measures” for reconciliation of this measure to its most comparable GAAP measure.
Slide 13: Non-GAAP Measures
Non-GAAP Measures Adjusted ACL to HFI Loans Ratio Adjusted ACL to HFI loans ratio is a non-GAAP measure that we use to enhance comparability to prior periods and provide supplemental information regarding the Company’s credit trends. We calculate adjusted ACL to HFI loan ratio as ACL divided by loan
Slide 14: Non-GAAP Measures
Non-GAAP Measures The following table reconciles adjusted ACL to HFI loans ratio and core deposits to their most comparable GAAP measures: ($ in thousands) Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 HFI Loans (a) $ 1,719,656 $ 1,707,878 $ 1,732,205 $ 1,742,955 $ 1,833,010 $ 1,959,237 $
Slide 15: Non-GAAP Measures
Non-GAAP Measures (1) Provision (reversal) for credit losses does not include provision (reversal) for off-balance sheet credit exposures for periods prior to January 1, 2023. (2) Annualized. The following table reconciles PTPP income, and adjusted ROAA, ROAE and diluted EPS for PTPP to their most c
Slide 16: Non-GAAP Measures
Non-GAAP Measures (1) Annualized The following table reconciles ROATCE to its most comparable GAAP measure: ($ in thousands) 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Q123 Average Total Shareholders' Equity (a) $ 239,448 $ 243,185 $ 251,477 $ 259,367 $ 292,135 $ 338,248 $ 334,832 $ 335,169 Less: Average Pr