First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (August 2022)
33 slides from First Us Bancshares's investor presentation, Aug 12, 2022
Slide 1: Investor Presentation As of June 30, 2022
Investor Presentation As of June 30, 2022 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 are forward-looking statements. These statements may
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 2Q and Year-to-Date 2022 Highlights……...…..…………………….…………………..…………....12 Loan Portfolio Trends………………………………………………………………………………………13 Recent Financial Trends………………….…........………
Slide 5: Corporate Profile
Company Founded: 1952 Headquarters: Birmingham, AL First US Bank: 15 Branches (1) / 2 LPOs Acceptance Loan Co: 0 Branches (2) Total Assets: $955 million Net Loans: $706 million Total Deposits: $844 million Tangible BV: $12.70 per share (3) Exchange: NASDAQ: FUSB Stock Price : $11.00 Price to TBV: 87
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
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 – both interest and non-interest LENDING FOCUS EXPENSE CONTROL LONGER TERM GROWTH EFFORTS Superior organic growth in earning assets Adherence to commerci
Slide 9: Update on Recent Strategic Initiatives
Strategic Focus Update on Recent Strategic Initiatives In 2021, the Company undertook certain initiatives as part of a long-term strategy to reduce expenses, fortify asset quality, and focus the Company’s loan growth efforts. These initiatives included closure of certain Bank branches, as well as ef
Slide 10: Building and Maintaining a Diversified Balance Sheet
Strategic Focus Building and Maintaining a Diversified Balance Sheet Loan Composition as of 6/30/2022 Deposit Composition as of 6/30/2022
Slide 11: 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 12: 2Q and Year-to-Date 2022 Highlights
Net income of $0.22 per diluted share in 2Q2022, compared to $0.20 in 1Q2022, and $0.14 in 2Q2021 Year-to-date net income of $2.8 million, compared to $1.9 million for same period in 2021, an increase of 45.9% Year-to-date noninterest expense reduction of $2.9 million, or 17.0%, compared to first si
Slide 13: Growth in Consumer Indirect, Multi-family and CRE
Loan Portfolio Trends Growth in Consumer Indirect, Multi-family and CRE
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 6/30/2022 Note: Dollars in thousands Construction Breakdown as of 6/30/2022
Slide 15: Indirect Portfolio
Loan Portfolio Trends Indirect Portfolio Significant growth since 2020 due to state expansion and consumer choices during the pandemic Average yield of 5.35% in 2Q2022 Weighted average credit score 761 as of 6/30/22 Enhanced geographic diversification of the loan portfolio This portfolio segment inc
Slide 16: Indirect Portfolio Breakdown
Loan Portfolio Trends Indirect Portfolio Breakdown Indirect by Collateral as of 6/30/2022(1) Indirect by State as of 6/30/2022(1)(2) (1) Dollars in thousands (2) Represents state in which the participating dealer operates
Slide 17: Asset Quality: Increase in Charge-offs at ALC
Loan Portfolio Trends Asset Quality – Increase in charge-offs at ALC contributed to additional loan loss provisions 5 Quarter Annualized Net Charge-offs
Slide 18: Quarter Annualized Margin Report
Recent Financial Trends 5 Quarter Annualized Margin Report (1) Average Rate on Interest-Bearing Liabilities and Non-Interest-Bearing Deposits 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 Total Loans 5.76% 5.49% 5.27% 5.15% 5.02% Taxable Investment Securities 1.42% 1.35% 1.38% 1.51% 1.80% Tax-Exempt Investment
Slide 19: Asset Quality: NPA Reduction
Recent Financial Trends Asset Quality – NPA reduction following sale of closed branch assets Nonperforming loans represent loans in nonaccrual status, while nonperforming assets includes both nonaccrual loans and OREO. Nonperforming assets increased in 3Q2021 following closure of four owned Bank bra
Slide 20: Profitability Metrics
Recent Financial Trends Profitability Metrics (1) Calculations of tangible balances and measures are included in the Appendix
Slide 21: Balance Sheet Metrics
Recent Financial Trends Balance Sheet Metrics
Slide 22: Non-interest Income and Expense
Recent Financial Trends Non-interest Income and Expense Non-interest Income Other lncome Other sources of non-interest income include: Bank-owned life insurance Gains on the sales of premises and equipment and other assets Credit insurance commissions and fees Non-interest Expense
Slide 23: Share Price vs. Tangible Book Value
Recent Financial Trends Share Price vs. Tangible Book Value (87% as of 6/30/2022)(1) (1) Calculations of tangible balances and measures are included in the Appendix
Slide 24: Selected Financial Data
Quarter Ended Year to Date 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 6/30/2022 6/30/2021 Diluted Net Income per Share $ 0.22 $ 0.20 $ 0.25 $ 0.13 $ 0.14 $ 0.42 $ 0.28 Return on Average Assets (annualized) 0.58% 0.58% 0.71% 0.35% 0.41% 0.58% 0.42% Return on Average Tangible Common Equity (an
Slide 25: Selected Balance Sheet Information
Recent Financial Trends Selected Balance Sheet Information (dollars in thousands) As of 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 Cash and Federal Funds Sold $ 33,841 $ 97,920 $ 61,326 $ 75,342 $ 81,906 Investment Securities $ 152,536 $ 137,736 $ 134,319 $ 121,467 $ 123,583 Loans, Net of Al
Slide 26: Income Statements
Recent Financial Trends Income Statements (dollars in thousands, except per share data) Quarter Ended Year to Date 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 6/30/2022 6/30/2021 Total Interest Income $ 9,525 $ 9,381 $ 9,987 $ 10,030 $ 10,059 $ 18,906 $ 19,904 Total Interest Expense 699 672 7
Slide 27: Risk Management: Equity Capital
Risk Management Equity Capital (1) Calculations of tangible balances and measures are included in the Appendix.
Slide 28: Managing Investment Risk and Liquidity
Risk Management Managing Investment Risk and Liquidity Investment Portfolio Composition (Book Value) As of 6/30/2022 Portfolio Detail as of 6/30/2022 (in $000s) Book Value Market Value Unrealized Gain/Loss MBS - Commercial $ 21,643 $ 21,247 $ (396) MBS - Residential 53,421 49,685 (3,736) Municipal 4
Slide 29: Interest Rate Sensitivity
Interest Rate Scenario Net Interest Margin Impact (bps) Net Interest Income Impact (%) Next 12 Months Next 24 Months Next 12 Months Next 24 Months Up 300 basis points (6) 3 (1.5)% 0.7% Up 200 basis points 6 11 1.6% 3.0% Up 100 basis points 7 9 1.7% 2.5% Base 0 0 0.0% 0.0% Down 100 basis points (17)
Slide 30: Appendix: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 31: Tangible Balances Reconciliation
Quarter Ended Year to Date 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 6/30/2022 6/30/2021 TANGIBLE BALANCES Total assets $ 955,385 $ 968,646 $ 958,302 $ 956,734 $ 946,946 Less: Goodwill 7,435 7,435 7,435 7,435 7,435 Less: Core deposit intangible 488 561 634 707 792 Tangible assets (a) $ 947,
Slide 32: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 33: Contact: Thomas S. Elley, Chief Financial Officer
www.firstusbank.com Contact: Thomas S. Elley Chief Financial Officer telley@firstusbank.com 205.582.1200
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