Fvcbankcorp, Inc. · NASDAQ:FVCB
Fvcbankcorp — Investor Presentation (November 2018)
20 slides from Fvcbankcorp's investor presentation, Nov 7, 2018
Slide 1: Forward-Looking Statements; Non-GAAP Information
Forward-Looking Statements; Non-GAAP Information This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and e
Slide 2: Company Snapshot
Company Snapshot headquartered in Fairfax, Virginia Assets Total Loans, Net of Fees Deposits Equity TBV / Share $1,175 $978 $994 $139 $10.81 NPAs² / Assets NPLs³ / Assets Reserves / NPLs Reserves / Loans Net Charge-off Ratio 0.50% 0.17% 424.34% 0.88% 0.03% ROAA ROAE Net Interest Margin Efficiency Ra
Slide 3: Deep and Experienced Executive Management Team
Deep and Experienced Executive Management Team FVCB’s executive management team consists of eight officers with over 185 years of combined experience in the Washington, D.C. metropolitan area David Pijor was the founding Chairman of the Board of James Monroe Bancorp, which opened in June 1998 in Arl
Slide 4: Historical Balance Sheet Growth
Historical Balance Sheet Growth $1,175 $978 2013 2014 2015 2016 2017 2018 Q3 2013 2014 2015 2016 2017 2018 Q3 $139 $994 $928 $73 2013 2014 2015 2016 2017 2018 Q3 2013 2014 2015 2016 2017 2018 Q3 Source: Company documents 5 $776 $627 $504 $430 $98 $80 $67 $61 Total Shareholders’ Equity ($M) Total Dep
Slide 5: Historical Summary Income Statement
Historical Summary Income Statement $0.84¹ $0.82² $10.0 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q3 YTD $32.1 $17.0 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q3 YTD (1) Excludes one-time charges to reduce the carrying value of net deferred tax asset
Slide 6: Historical Financial Performance
Historical Financial Performance 12.81%² 1.22%² 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q3 YTD 74.78% $10.81 61.29% 57.74% 58.02% 57.16% $6.58 ² $6.01 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q2 (1) Excludes one-time charges to reduce the carrying
Slide 7: 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 8 $13.00 for existing shareholders, $13.50 for new shares offered to the public Source: Compa
Slide 8: Our Business Strategy
Our Business Strategy 9 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 9: Deposit Composition
Deposit Composition • Non-Interest Bearing demand deposits represent over 21% of total deposits as of Sept. 30, 2018 • Suite of excellent treasury management products and high-touch service • Continued growth through September 30, 2018; 17.4% increase year-over-year Whol esale d e p osits 5% Noninte
Slide 10: Diversified Loan Portfolio Composition
Diversified Loan Portfolio Composition • • • • Focus lending efforts on commercial, real estate, small business, retail and government contractors Sixteen loan officers with deep connections in the markets served Robust loan growth through September 30, 2018; 18.3% increase year over year Attractive
Slide 11: Asset Quality
Asset Quality 1.17% 1.09% 0.59% 0.44% 0.03% 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q3 YTD 0.59% 0.19% (0.01%) (0.06%) 2013 2014 2015 2016 2017 2018 Q3 YTD (1) Nonperforming assets defined as nonaccruals, 90+ days past due and other real estate owned (2) Nonperforming loan
Slide 12: Colombo Acquisition Key Points
Colombo Acquisition 13 Key Points Pro Forma Loan and Deposit Composition¹ For the Nine months ended September 30, 2018 Based on 344,248,084 Colombo common shares outstanding Assumes September 30, 2018 financials Source: S&P Global Market Intelligence and company documents Further penetration of exis
Slide 13: Colombo Acquisition
Colombo Acquisition Key Points Pro Forma Loan and Deposit Composition’ Further penetration of existing, and entrance into adjacent, high-growth markets, already disrupted by recent merger activity and new, out-of-state entrants + Modest tangible book value dilution, earned back in three years + Stro
Slide 14: Attractive Net Interest Spread
Attractive Net Interest Spread 4.51% 1.00% 4.21% 0.68% 0.65% 0.65% 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q3 YTD 3.61% 3.51% 3.47% 3.39% 3.36% 3.66% 3.63% 3.59% 3.43% 2013 2014 2015 2016 2017 2018 Q3 YTD 2013 2014 2015 2016 2017 2018 Q3 YTD Note: Cost of deposits includes
Slide 15: Interest Rate Risk
Interest Rate Risk 16 Source: Company documents
Slide 16: Commercial Real Estate (CRE) Portfolio
Commercial Real Estate (CRE) Portfolio Owner Occupied ($mm) Non-Owner Occupied ($mm) % of Total ($mm) CRE Total Loans 2.0 5.3 1.4% 0.75% CRE - Daycare Total 7.3 CRE - Industrial Total 24.5 29.5 54.0 10.0% 5.52% CRE - Medical Office Total 11.9 9.6 21.5 4.0% 2.19% CRE - Office Total 23.6 52.5 76.1 14.
Slide 17: Investment Portfolio Composition
Investment Portfolio Composition 18 $118.2 million in total securities as of Sept. 30, 2018 1.5% held-to-maturity 98.5% available-for-sale Average yield of 2.42% for the nine months ended September 30, 2018 Source: Company documents
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Total Stockholders' Equity (-) Goodwill (-) Other Intangibles $60,903 0 180 $66,815 0 160 $72,752 0 139 $79,811 0 119 $98,283 0 99 $138,776 0 83 Tangible Common Equity $60,723 $66,655 $72,613 $79,692 $98,184 $138,693 Common Shares Outstanding 10,110,805 10,137,691 10,141,281
Slide 19: Non-GAAP Reconciliation (Cont'd)
Non-GAAP Reconciliation (Cont’d) Nine Months Ended Net Interest Income Noninterest Income $15,531 $1,025 $19,185 $1,313 $22,892 $1,161 $27,200 $1,220 $32,107 $2,975 $27,997 $1,495 Total Net Interest Income and Noninterest Income $16,556 $20,498 $24,053 $28,420 $35,082 $29,492 (-) Gains on Sale of Se
Slide 20: Non-GAAP Reconciliation (Cont'd)
Non-GAAP Reconciliation (Cont’d) Net Interest Income sissa1 sigs Sam $27,200 $82,107 $77,997 Noninterest Income suas $4313 Sas S4.270 $2,975, $1,495 “Total Net interest Income and Noninterest income $16556 Sosa 24.053 Sna0 $35,002 $29,492, (() Gains on Sale of Securities AFS S208 7 Ser sm $168 0 {()