Virginia National Bankshares Corporation · NASDAQ:VABK
Virginia National Bankshares — Shareholder Meeting (June 2023)
23 slides from Virginia National Bankshares's shareholder meeting presentation, Jun 29, 2023
Slide 1: Annual Shareholders' Meeting June 29, 2023
ANNUAL SHAREHOLDERS’ MEETING June 29, 2023 Exhibit 99.1
Slide 2: Disclosures: Forward-Looking Statements
Disclosures Forward-Looking Statements Certain statements in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, statements with respect to the Company’s operations, performance,
Slide 3: Virginia National Bankshares Corporation
VIRGINIA {* Pr. NATIONAL BANKSHARES CORPORATION
Slide 4: Overview of Virginia National Bankshares Corporation
Baltimore Virginia Beach Norfolk Arlington Newport News WASHINGTON, DC Annapolis Richmond Lynchburg Lancaster Frederick Charlottesville 64 64 250 95 70 83 76 Source: S&P Global Market Intelligence; Company documents Data as of or for the three months ended 3/31/23 Overview of Virginia National Banks
Slide 5: Experienced Management
Virginia R. Bayes Chief Credit Officer & Executive Vice President Age: 62 Banking Experience: 36 Years Virginia National Experience: 25 Years Donna G. Shewmake General Counsel, Corporate Secretary & Executive Vice President Age: 62 Legal Experience: 38 Years Virginia National Experience: 15 Years Ta
Slide 6: Experienced Board of Directors
Source: S&P Global Market Intelligence; Company Documents Per Company’s 2023 Proxy Statement, as of April 27, 2023 * Include prior board experience at Fauquier Bankshares, Inc. Experienced Board of Directors Board Member (Age) Experience Board Tenure William D. Ditmar, Jr. (70) Chairman of the Board
Slide 7: Dominant Market Share in Core Markets
Source: S&P Global Market Intelligence Deposit data as of 6/30 each respective year * Prior to Truist merger, Virginia National was ranked third in Charlottesville MSA by deposit market share Dominant Market Share in Core Markets Charlottesville, VA MSA * Historical Growth in Charlottesville Deposit
Slide 8: Overview of our Merger with Fauquier Bankshares Inc.
Source: Company documents, Standalone data as of the quarter prior to announcement (Q3 ’20) Overview of our Merger with Fauquier Bankshares Inc. At Announcement >25% ’21 EPS Accretion $7M Merger Charges 3.9 years TBV Earnback $7M Estimated Cost Savings Actual Through June 2023 >30% ’21 EPS Accretion
Slide 9: Consistent Credit Quality and Profitability
Virginia National has been profitable since the first year post-inception Cumulative losses in Global Financial Crisis of 0.66% vs. aggregate banking industry losses of 8.56% (1) Consistent Credit Quality and Profitability ROAA: Source: S&P Global Market Intelligence, FDIC Data as of or for the twel
Slide 10: Shareholder Update
Shareholder Update / VIRGINIA etna A NATIONAL wi Pia } H BANKSHARES ae a CORPORATION
Slide 11: Returning Value to Shareholders
Returning Value to Shareholders Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; YTD data as of or for the three months ended 3/31/23 Board recently approved a share repurchase plan of up to 5% of outstanding common stock, subject to consultation
Slide 12: Top-Tier Shareholder Value Growth
2006 – Q1 ’23: TBVPS CAGR of 4.55% vs. KRX Median of 3.82% vs. Peer Median of 4.06% Top-Tier Shareholder Value Growth Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; YTD data as of or for the three months ended 3/31/23 Peers include major exchan
Slide 13: Virginia National Bankshares Corporation
VIRGINIA NATIONAL BANKSHARES CORPORATION
Slide 14: Balance Sheet Trends
Balance Sheet Trends Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; Q1 ’23 data as of or for the three months ended 3/31/23 Total Assets ($M) Total Gross Loans ($M) Total Deposits ($M) ’16 – Q1 ’23 CAGR: 16.5% ’16 – ’20 CAGR: 8.8% ’16 – Q3 ’22
Slide 15: Core Funded Deposit Portfolio
Core Funded Deposit Portfolio Cost of Deposits Over Time Historical Deposit Composition ($M) Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; quarterly data as of or for the three months ended quarter stated Deposit beta for the last cycle of ris
Slide 16: Loan Composition Highlights
Loan Composition Highlights Loan Composition (%) Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; Q1 ’23 data as of or for the three months ended 3/31/23 Loans / Deposits (%) Historical Loan Composition ($M) No Shared National Credit Exposure and
Slide 17: Asset Quality
Asset Quality Cumulative losses from the Global Financial Crisis of 0.66%(1) Post-Global Financial Crisis Peak NPAs of $8.7mm, 1.98% of total assets, in 2009 Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; Q1 ’23 data as of or for the three mont
Slide 18: Operating Expense
Operating Expense Noninterest Expense / Average Assets (%) Noninterest Expense ($M) Source: S&P Global Market Intelligence Annual data as of or for the twelve months ended each year end stated; Quarterly data as of or for the three months ended each quarter stated Peers include major-exchange traded
Slide 19: Profitability Trends
Profitability Trends Source: S&P Global Market Intelligence Annual data as of or for the twelve months ended each year end stated; Quarterly data as of or for the three months ended each quarter stated Refer to the Non-GAAP reconciliation in the appendix for a calculation of core metrics Core Return
Slide 20: Interest Rate Sensitivity
Interest Rate Sensitivity Source: Company documents Data as of or for the three months ended 3/31/23 Net Interest Income % Change GAP Summary ($M) Static Shock / Rate Ramp Analysis (2-Year Immediate)
Slide 21: Capital Ratios
Capital Ratios Source: S&P Global Market Intelligence Data as of or for the twelve months ended each year end stated; Q1 ’23 data as of or for the three months ended 3/31/23 Tangible Common Equity / Tangible Assets (%) CET1 Ratio (%) Total Capital Ratio (%) Bank CRE / C&D Concentration Ratios
Slide 22: Questions
Questions \Wer VIRGINIA NATIONAL BANKSHARES CORPORATION
Slide 23: Thank You
Thank You \Wer VIRGINIA NATIONAL BANKSHARES CORPORATION
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