First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (October 2024)
31 slides from First Us Bancshares's investor presentation, Oct 24, 2024
Slide 1: Investor Presentation As of September 30, 2024
Investor Presentation As of September 30, 2024 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation of First US Bancshares, Inc. (“FUSB” or the “Company”) contains forward-looking statements, as defined by federal securities laws. Statements contained in this presentation that are not historical facts, including without limitation all statements relatin
Slide 3: Presentation Disclosure
Presentation Disclosure This presentation has been prepared by FUSB solely for informational purposes based on its own information, as well as information from public sources. This presentation has been prepared to assist interested parties in making their own evaluation of FUSB and does not purport
Slide 4: Contents
Contents Corporate Profile 5 Strategic Focus 8 3Q2024 and Year-to-Date Highlights 11 Deposit Composition 12 Loan Portfolio Trends 13 Asset Quality Trends 17 Recent Financial Trends 19 5 Year Financial Trends 22 Risk Management – Capital, Liquidity and Market Sensitivity 25 Appendix: Non-GAAP Reconci
Slide 5: Company
Company Founded: 1952 Headquarters: Birmingham, AL First US Bank: 15 Branches / 2 LPOs Total Assets: $1,100 million Total Loans: $803 million Total Deposits: $981 million Loans to Deposits: 82% Exchange: Nasdaq: FUSB Stock price: $11.05 Tangible BV: $15.92 per share (1) Price to TBV: 69% Market Cap:
Slide 6: Corporate Profile: Senior Leadership Team
Corporate Profile Senior Leadership Team James F. House President and Chief Executive Officer Veteran banker with SouthTrust Bank for 31 years Business consultant 2005 to 2009 focusing on management, investments, and commercial and consumer lending issues Florida Division President with BankTrust fr
Slide 7: First US Bank Branch and LPO Location Map
Corporate Profile First US Bank – Branch and LPO Location Map Retail Banking Centers Loan Production Offices Retail Banking Center (Under Construction)
Slide 8: Strategic Focus
` PRIMARY GOALS Grow EPS, ROA and ROE Consistent, diversified loan and deposit growth Adherence to strong credit culture Effective expense control LENDING FOCUS EXPENSE CONTROL LONGER TERM GROWTH EFFORTS Adherence to commercial lending fundamentals: cash flow, debt service coverage and loan-to-value
Slide 9: Building and Maintaining a Diversified Balance Sheet
Strategic Focus Building and Maintaining a Diversified Balance Sheet Loan Composition as of 9/30/2024 Deposit Composition as of 9/30/2024
Slide 10: A Favorable Geographic Footprint
Strategic Focus A Favorable Geographic Footprint Potential Markets for Growth Alabama: Auburn Dothan Huntsville Montgomery Florida: Destin Panama City Pensacola Georgia: Athens Atlanta Augusta Columbus Macon Mississippi: Hattiesburg Jackson Meridian South Carolina: Greenville Tennessee: Memphis Nash
Slide 11: Earnings Improvement Continues
Earnings Improvement Continues $.07 improvement in diluted EPS, comparing the nine months ended September 30, 2024, to the nine months ended September 30, 2023 3Q2024 diluted EPS of $0.36 ($.02 more than 2Q2024 and $.03 more than 3Q2023) Trailing 12 months diluted EPS increased to $1.40 as of Septem
Slide 12: Deposit Composition
Deposit Composition A Stable Core Deposit Base
Slide 13: Loan Portfolio Trends: Quarterly Growth by Category
Loan Portfolio Trends Quarterly Growth by Category
Slide 14: Non-Residential CRE and Construction Portfolio Breakdown
Loan Portfolio Trends Non-Residential CRE and Construction Portfolio Breakdown Non-Residential CRE Breakdown as of 9/30/2024 Construction Breakdown as of 9/30/2024 Non-owner occupied office consists of 22 loans with an average loan size of $1.7 million. The properties are located in Tuscaloosa, AL,
Slide 15: Loan Portfolio Trends: Indirect Portfolio
Loan Portfolio Trends Indirect Portfolio This portfolio segment includes loans secured by collateral purchased by consumers in retail stores with whom the Company has an established relationship to provide financing if applicable underwriting standards are met. The collateral securing these loans in
Slide 16: Indirect Portfolio Breakdown
Loan Portfolio Trends Indirect Portfolio Breakdown Indirect by Collateral as of 9/30/2024(1) Indirect by State as of 9/30/2024(1)(2) (1) Dollars in thousands (2) Represents state in which the participating dealer operates
Slide 17: Asset Quality Trends: Net Charge-offs and ACL
Asset Quality Trends Annualized Net Charge-offs and ACL on Loans and Leases Note: While no portion of the allowance for credit losses (“ACL”) is in any way restricted to any individual loan or group of loans and the entire allowance is available to absorb losses from any and all loans, the table abo
Slide 18: Nonperforming Assets and Nonperforming Loans
Asset Quality Trends Nonperforming Assets and Nonperforming Loans Nonperforming Assets (1) Nonperforming Loans (2) Nonperforming assets: nonaccrual loans and OREO Nonperforming loans: nonaccrual loans Note: The increase in both nonperforming assets and nonperforming loans in 3Q2024 resulted from two
Slide 19: Recent Financial Trends: Net Interest Margin
Recent Financial Trends 5 Quarter Annualized Net Interest Margin Average rate including both interest-bearing and non-interest-bearing deposits Average rate on all interest-bearing liabilities and non-interest-bearing deposits
Slide 20: Profitability Metrics – Quarter Trend
Recent Financial Trends Profitability Metrics – 5 Quarter Trend (1) Calculations of tangible balances and measures are included in the Appendix
Slide 21: Balance Sheet Metrics – Quarter Trend
Recent Financial Trends Balance Sheet Metrics – 5 Quarter Trend
Slide 22: 5 Year Financial Trends: Profitability Metrics
5 Year Financial Trends Profitability Metrics Calculations of tangible balances and measures are included in the Appendix The amount presented for 2024 represents the trailing 12 months as of September 30, 2024
Slide 23: 5 Year Financial Trends: Balance Sheet Metrics
5 Year Financial Trends Balance Sheet Metrics
Slide 24: Share Price vs. Tangible Book Value
5 Year Financial Trends Share Price vs. Tangible Book Value (69% as of 09/30/2024)(1) (1) Calculations of tangible balances and measures are included in the Appendix
Slide 25: Risk Management: Equity Capital – Quarter Trend
Risk Management Equity Capital – 5 Quarter Trend (1) Calculations of tangible balances and measures are included in the Appendix.
Slide 26: Managing Liquidity and Investment Risk
Risk Management Managing Liquidity and Investment Risk Summary of Securities Portfolio The portfolio is structured with relatively short expected average lives in order to enhance liquidity Weighted average book yield was 3.08% in 3Q2024 Expected average life of securities in the portfolio was 4.1 y
Slide 27: Interest Rate Sensitivity
Risk Management Interest Rate Sensitivity The following table summarizes the forecasted impact on net interest margin and net interest income using a base case scenario given immediate upward and downward shocks in interest rates of 100, 200 and 300 basis points (“bps”) based on forecasted assumptio
Slide 28: Appendix: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 29: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data) (1) Calculation of Return on average tangible common equity (annualized) = ((net income (d) / number of days in period) * number of days in year) / average tangible shareholders’ equity (c)
Slide 30: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 31: www.firstusbank.com Contact
www.firstusbank.com Contact: Thomas S. Elley Chief Financial Officer telley@firstusbank.com 205.582.1200
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