Fvcbankcorp, Inc. · NASDAQ:FVCB
Fvcbankcorp — Investor Presentation (September 2024)
23 slides from Fvcbankcorp's investor presentation, Sep 11, 2024
Slide 1: FVCBankcorp, Inc. Fall 2024
FVCBankcorp, Inc. NASDAQ: FVCB Fall 2024
Slide 2: Forward-looking statements
This presentation may contain statements relating to future events or future results of FVCBankcorp, Inc. (“FVCB”) that are considered “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goa
Slide 3: FVCB Company Snapshot
FVCB Company Snapshot (1) Consolidated financial data as of the three months ended June 30, 2024, unless otherwise noted. (2) Nonperforming assets ($3.2 million) defined as nonaccruals, loans past-due 90 days or more, and other real estate owned. (3) Non-GAAP financial measure. See the reconciliatio
Slide 4: FVCB Business Strategy
FVCB Business Strategy FVCB aims to capitalize on market opportunities while maintaining disciplined and comprehensive credit underwriting. FVCB’s focus on providing high-touch, responsive, relationship-based client service allows it to compete effectively and exceed the needs of customers. Opportun
Slide 5: Technology Deployment Driving Top-Tier Performance
Technology Deployment Driving Top-Tier Performance *FVCbankcorp, Inc. has invested in KlariVis and JAM FINTOP Blockchain Fund. • Data analytics functionality (KlariVis)* which provides: • Immediate access to better communicate and respond to customers. • Dashboards to easily analyze activity for all
Slide 6: An Attractive Investment Opportunity in the DC and Baltimore MSAs
An Attractive Investment Opportunity in the DC and Baltimore MSAs • Sixth largest MSA with favorable demographics, economic trends and business investments. • Consolidation in local markets has created growth opportunities for remaining banks. • Organic CAGRs1 of 8.4% for assets, 8.0% for loans, 8.9
Slide 7: Well Positioned In One of the Most Attractive Markets in the U.S.
Well Positioned In One of the Most Attractive Markets in the U.S. Top 10 MSAs By Population Vibrant Economy • Washington D.C. and Baltimore MSAs contain 30 and 7 Fortune 1000 companies, respectively. • Over 3.3 million private sector employees and nearly 1 million public sector employees in the Wash
Slide 8: Relationship Driven Model Continues to Create Balance Sheet Leverage
Relationship Driven Model Continues to Create Balance Sheet Leverage Total Assets ($M) Total Loans, Net of Fees ($M) Total Deposits ($M) CAGR: 8.4% CAGR: 8.0% CAGR: 8.9% 8 Track Record of Exceptional Growth and Strong Profitability $1,537 $1,821 $2,203 $2,344 $2,191 $2,299 2019 2020 2021 2022 2023 2
Slide 9: Track Record of Exceptional Growth and Strong Profitability
Track Record of Exceptional Growth and Strong Profitability (1) Non-GAAP financial measure. See the reconciliation included in the appendix to this presentation. (2) Excludes non-recurring transaction costs of $3.3 million for 2018, $0.13 million for 2019, $0.68 million for 2020, $1.4 million for 20
Slide 10: Well Diversified Loan Portfolio
Well Diversified Loan Portfolio Balanced Loan Portfolio Segmentation 10 Disciplined, Low-Risk Commercial Balance Sheet (1) Yield calculated based on average balance for the period CRE 47.89% C&I 15.16% Resi 16.94% C&D 8.73%Warehouse 1.29% Multifamily 9.56% Other 0.44%
Slide 11: 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 source of growth potential. • Small average loan ba
Slide 12: Expected Repricing will Improve Revenue Growth
12 Disciplined, Low-Risk Commercial Balance Sheet Expected Repricing will Improve Revenue Growth Commercial Loan Repricing Schedule (June 30, 2024)
Slide 13: Proven History of Strong Credit Metrics
Disciplined, Low-Risk Commercial Balance Sheet Proven History of Strong Credit Metrics Net Charge-Offs (Recoveries) / Average Loans Asset Quality Trends Over Time¹ Well-Reserved Loan Portfolio (1) Nonperforming loans defined as nonaccruals and loans past-due 90 days or more. ($000s) 13 $10.7 $5.6 $3
Slide 14: Strong Core Deposit Base
Strong Core Deposit Base • Full-service relationships continue to drive core deposit growth. ‒ Approximately three quarters of the commercial loan portfolio retains a deposit relationship with the bank. • Growth in commercial accounts provide cross selling opportunities with FVCB’s technology invest
Slide 15: Strong Liquidity
Strong Liquidity • Stress testing is performed quarterly with assumptions inclusive of both systemic and idiosyncratic risks. • Stress testing performed as of June 30, 2024, demonstrates a strong liquidity position in all tested scenarios. *Values above in millions. 15 As of June 30 2024 Total Avail
Slide 16: 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 17: Governed and Supported By An Exceptional Board
Experienced Leadership Team Governed and Supported By An Exceptional Board David Pijor Chairman & CEO • Served as Chairman of the Board and CEO of FVCB since its organization • Lead organizer, Chairman of the Board and General Counsel of James Monroe Bank from its inception to sale to Mercantile Ban
Slide 18: Appendix: Additional Materials
Appendix: Additional Materials
Slide 19: 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. (1) $13.00 for existing shareholders, $13.50 for new shares offered to the public. Source: S
Slide 20: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 20 For the Three Months Ended June 30, 2024 For the Six Months Ended June 30, 2024 2019 2020 2021 2022 2023 Net Income Net income (GAAP) 15,828$ 15,501$ 21,933$ 24,984$ 3,822$ 4,155$ 5,495$ Add: Provision for loan losses 1,720 5,016 (500) 2,629 132 206 206 Add:
Slide 21: Appendix: Non-GAAP Financial Measures
Appendix: Non-GAAP Financial Measures 21
Slide 22: 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 6/30/2024 ($000s) C&I Portfolio Commercial & Industrial $ 96,995 S$ 265,866 S$ 196,428 S$ 241,510 $ 219,873 $ 293,346 Owner Occupied CRE 205,892 182,851 190,334 206,766 212,889 204,522 Total C&l $ 302,887
Slide 23: 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