Oak View Bankshares Inc. · OTC:OAKV
Oak View Bankshares — Investor Presentation (December 2024)
30 slides from Oak View Bankshares's investor presentation, December 2024
Slide 1: Oak View Bankshares, Inc. Company Overview Presentation
Oak View Bankshares, Inc. (OTCPK:OAKV) Company Overview Presentation December 2024
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements Any statements in this presentation about expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made through t
Slide 3: Table of Contents
Table of Contents I Executive Summary 4 II Asset Highlights 11 III Deposit Highlights 16 IV Capital Highlights 19 V Income Statement Highlights 22 VI Appendix 27 3
Slide 4: I. Company Overview
I. Company Overview 4
Slide 5: Company Highlights
Company Highlights Peer-leading Earnings Growth, Across Different Market Cycles ▪ Oak View Bankshares, Inc. (the “Company”) has grown earnings per share at a CAGR of 27% since 2014 (1), while peers (1, 2) have grown at 9% for the same period Experienced Management Team ▪ Senior management team consi
Slide 6: EPS Growth Meaningfully Outpacing Peers
EPS Growth Meaningfully Outpacing Peers OAKV has grown EPS at a CAGR of 27% for the last ten years (1). Over the same time frame, OAKV’s peers have grown EPS at a CAGR of 9% (1, 2). $2.11 $1.43 $1.03 $0.84 $0.70 $0.69 $0.59 $0.39 $0.31 $0.29 $0.17 2014Y 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022
Slide 7: Oak View National Bank Overview
Oak View National Bank Overview Corporate Overview Franchise Map “Passionate Community Banking” ▪ Founded in 2009 and headquartered in Warrenton, Virginia ‒ Operates 4 branches in the counties of Culpeper, Fauquier, and Rappahannock in Northern Virginia ▪ Oak View National Bank has a total of 61 ful
Slide 8: Principal Markets Overview
Principal Markets Overview County Market Highlights Fauquier, VA Culpeper, VA ▪ Population of 75 thousand (1, 2) and expected to grow 2.1% ▪ Population of 55 thousand (1, 2) and expected to grow 7.3% through 2030 (2) through 2030 (2) ▪ Fauquier County includes two Oak View National Bank branches ▪ C
Slide 9: OAKV Stock Price Performance
OAKV Stock Price Performance Stock price and volume for the last five years. Share Price Volume $16.00 (1) 200,000 OAKV Current Valuation Metrics (as of 12/11/24) Peer Current Valuation Metrics (as of 12/11/24) Market Capitalization ($mm) 42.3 $14.00 Three-month Daily Avg. Volume (shrs) 569 Dividend
Slide 10: Experienced Management Team
Experienced Management Team Michael A. Ewing – Chairman & Chief Executive Officer Mr. Ewing has served as Chief Executive Officer and Director of the Bank since 2009. Mr. Ewing has served as Chairman since August 2021. Mr. Ewing was Executive Vice President and Senior Credit Officer of Marshall Nati
Slide 11: II. Asset Highlights
II. Asset Highlights 11
Slide 12: Measured Balance Sheet Growth
Measured Balance Sheet Growth Total Assets Total Loans ($ in millions) ($ in millions) $800 $400 $600 $676 $300 $322 $600 $304 $274 $498 $246 $251 $400 $200 $345 $285 $100 $200 – – 2020Y 2021Y 2022Y 2023Y 2024Q3 2020Y 2021Y 2022Y 2023Y 2024Q3 Total Deposits Total Equity ($ in millions) (Total Equity
Slide 13: Loan Portfolio Diversification & Growth
Loan Portfolio Diversification & Growth Oak View National Bank Total Loans 9/30/24 Bank Loan Composition – Regulatory Classification ($ in millions) Commercial & Industrial, 7.3% $400 Consumer & Other, 3.1% Ag. Prod., 1-4 Family, 0.0% 48.0% Multifam, Constr & $322 1.1% Land Dev, $300 8.1% $304 Farm,
Slide 14: Historical Bank Loan Composition & Yields
Historical Bank Loan Composition & Yields ($ in thousands) Oak View National Bank Loan Composition Since 2020 2020Y 2021Y 2022Y 2023Y 2024Q3 Loan Composition Balance % of Total Balance % of Total Balance % of Total Balance % of Total Balance % of Total Construction $10,333 4.2% $15,523 6.2% $19,446
Slide 15: Asset Quality & Reserve Coverage Ratios
Asset Quality & Reserve Coverage Ratios NPAs / Assets NCOs / Avg. Loans 1.00% 1.00% 0.75% 0.75% 0.50% 0.50% 0.25% 0.25% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2020Y 2021Y 2022Y 2023Y 2024Q3 2020Y 2021Y 2022Y 2023Y 2024Q3 Loan Loss Reserves / NPLs Loan Loss Reserves /
Slide 16: III. Deposit Highlights
III. Deposit Highlights 16
Slide 17: Deposit Growth & Composition
Deposit Growth & Composition Bank Regulatory Deposit Composition Noninterest Bearing Deposit Trends ($ in millions) Jumbo Time (>100k) $120 Retail Time 40.9% (<100k) 10.7% $106.2 $100 $570M $570M $91.2 $93.7 $97.7 Total Deposits Total Deposits $80 IB Demand, NIB Savings, & 17.1% $66.0 MMDA $60 31.3%
Slide 18: Community Bank Deposit Market Share
Community Bank Deposit Market Share Fauquier, VA | County Culpeper, VA | County 2024 2024 2024 2024 2024 2024 Deposits Mkt. Share 2024 2024 Deposits Mkt. Share Rank Institution (ST) Branches ($mm) (%) Rank Institution (ST) Branches ($mm) (%) 1 Virginia National Bankshares Corp. (VA) 6 496 17.8 1 Oak
Slide 19: IV. Capital Highlights
IV. Capital Highlights 19
Slide 20: Total Risk-based & Tier 1 Leverage Bank Capital Ratios
Total Risk-based & Tier 1 Leverage Bank Capital Ratios 20.00% 20.00% (2) 16.68% 16.16% 16.37% 15.95% 16.00% 16.00% 15.16% 14.64% 14.86% 15.08% 13.96% 13.65% 13.80% 12.00% 12.00% 10.34% 9.98% 9.51% 9.36% 8.94% 9.09% 9.14% 8.00% 8.52% 8.00% 8.65% 8.22% 8.02% 4.00% 4.00% 0.00% 0.00% 2014Y 2015Y 2016Y 2
Slide 21: Historical Bank Regulatory Capital Ratios
Historical Bank Regulatory Capital Ratios Tier 1 Leverage Ratio CET1 Ratio 20% 20% (2) 15.43% 15.21% 15.42% 16% 16% 14.34% 12.85% 12% 12% 9.14% 8.65% 8.52% 8.22% 8.02% 8% 8% Well-Capitalized CET1 Ratio (1) (6.5%) Well-Capitalized Tier 1 Lev. Ratio (1) (5.0%) 4% 4% 0% 0% 2020Y 2021Y 2022Y 2023Y 2024Q
Slide 22: V. Income Statement Highlights
V. Income Statement Highlights 22
Slide 23: Net Revenue Detail
Net Revenue Detail Net Interest Income Noninterest Expense Noninterest Income ($ in thousands) $30,000 $27,740 $25,000 Strong net interest income growth $20,000 $17,670 $16,551 $15,000 $12,466 $11,244 $10,000 $10,186 $9,064 $8,458 $8,647 $6,752 $5,000 $1,302 $1,497 $1,499 $1,540 $2,326 $- 2020Y 2021
Slide 24: Net Interest Income & Net Interest Margin
Net Interest Income & Net Interest Margin Net Interest Income (NII) and Net Interest Margin (NIM) Key Components of NII and NIM ($ in thousands) NII NIM (FTE) Loan Yield Cost of Int. Bearing Dep. Cost of Funds $32,000 4.00% 7.00% $28,000 3.50% 3.39% 6.00% 3.21% 3.13% 5.79% $24,000 3.06% 3.03% 3.00%
Slide 25: Profitability & Expense Controls
Profitability & Expense Controls Efficiency Ratio Pre-Tax ROATCE & ROAA Efficiency Ratio (FTE) Noninterest Expense / Avg. Assets Pre-Tax ROATCE Pre-Tax ROAA 120.0% 12.00% 18.0% 3.00% 16.6% 15.0% 14.4% 2.50% Noninterest Expense / Avg. Assets 90.0% 9.00% 12.8% Pre-Tax ROAT1 74.0% 12.0% 11.3% 2.00% Eff
Slide 26: Net Interest Margin vs. Net Noninterest Expense
Net Interest Margin vs. Net Noninterest Expense 6.00% 5.00% 4.00% 3.05% 3.14% 2.98% 3.03% 3.00% 2.91% 2.00% 1.75% 1.62% 1.60% 1.60% 1.66% 1.00% 0.00% 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 -1.00% Net Interest Margin (FTE) Net Noninterest Expense / AA Net NIE / AA = (Noninterest Expense – Noninterest Inc
Slide 27: VI. Appendix
VI. Appendix 27
Slide 28: Bank Regulatory Financial Highlights
Bank Regulatory Financial Highlights 12/31/2020 As of and for the Years Ended: For the Quarters Ended: 9/30/2024 12/31/2020 12/31/2021 12/31/2022 12/31/2023 3/31/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 CAGR Balance Sheet Total Assets ($000) 284,672 345,127 497,888 599,874 537,379 599,874 624,0
Slide 29: Historical Consolidated Balance Sheet
Historical Consolidated Balance Sheet For the Period Ended: (dollars show n in thousands) 2020 2021 2022 2023 9/30/2024 Assets Cash and Due from Banks $ 3,640 $ 13,183 $ 8,739 $ 8,582 $ 11,302 Interest-Earning Dep. 12,579 6,412 1,922 16,981 17,971 Fed Funds Sold & Reverse Repos 7,261 36,781 - 287 26
Slide 30: Historical Consolidated Income Statement
Historical Consolidated Income Statement For the Years Ended: For the Year-to-Date Ended: (dollars show n in thousands) 2020 2021 2022 2023 9/30/2024 Total Interest Income $ 10,601 $ 11,372 $ 14,877 $ 28,719 $ 26,602 Total Interest Expense 2,032 1,107 2,801 12,561 13,152 Net Interest Income 8,568 10
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