ENB Financial Corp · OTC:ENBP
ENB Financial — Shareholder Meeting (May 2024)
28 slides from ENB Financial's shareholder meeting presentation, May 8, 2024
Slide 1: Annual Shareholder Meeting May 7, 2024
Annual Shareholder Meeting MAY 7, 2024
Slide 2: Agenda
Agenda • Welcome • Reading of the Minutes • Meeting Certification • Matters of Proxy • Voting • Discussion of Company Condition • President’s Remarks • Financial Review • Voting Results • Questions & Answers • Adjournment 2
Slide 3: Presenters
Presenters Jeffrey S. Stauffer President, CEO & Chairman of the Board – ENB Financial Corp and Ephrata National Bank Adrienne L. Miller, Esq. Vice President and Corporate Secretary – ENB Financial Corp Senior Vice President and Legal Counsel – Ephrata National Bank Rachel G. Bitner Treasurer – ENB F
Slide 4: Meeting Certification
Meeting Certification 4 Presented by: Adrienne L. Miller, Esq. Corporate Secretary – ENB Financial Corp
Slide 5: Matters of Proxy
Matters of Proxy ONE Elect four (4) Class B directors to serve a 3 - year term TWO To ratify the selection of S.R. Snodgrass, PC as the independent registered public accounting firm for the year ending December 31, 2024 THREE Transact such other business as may be properly presented here today
Slide 6: Matters of Proxy: Election of Directors – Class B
Matters of Proxy Elect four (4) Class B directors to serve a 3 - year term Election of Directors – Class B • Willis R. Lefever • Jay S. Martin • Judith A. Weaver • Roger L. Zimmerman
Slide 7: Continuing Directors
Continuing Directors Continuing Directors – Class A • Dr. Brian K. Reed • Jeffrey S. Stauffer • J. Daniel Stoltzfus Continuing Directors – Class C • Joshua E. Hoffman • Susan Young Nicholas • Mark C. Wagner
Slide 8: Voting Process
Voting Process 8 Presented by: Adrienne L. Miller, Esq. Corporate Secretary – ENB Financial Corp
Slide 9: Voting Process
Voting Process Proxy Holders • Aaron L. Groff, Jr. • Mary E. Leaman Judges of Election • Roger S. Kline • John L. Weber • Paul W. Wenger
Slide 10: President’s Remarks
President’s Remarks 10 Presented by: Jeffrey S. Stauffer President, CEO & Chairman of the Board – ENB Financial Corp
Slide 11: Executive Team
Executive Team Jeff Stauffer President, CEO & Chairman of the Board Chad Neiss SEVP, Chief Strategy Officer & Head of Mortgage Division Bill Kitsch SEVP, Chief Revenue Officer Rachel Bitner Treasurer/EVP, Chief Financial Officer Cindy Cake EVP, Chief Human Resources Officer Adrienne Miller, Esquire
Slide 12: Mission Statement
Mission Statement To remain an independent community bank of undisputed integrity so the communities we serve benefit from our prosperity. To help our employees find career fulfillment through professional growth, personal empowerment and mutual achievement. To help our customers achieve financial h
Slide 13: Executing a Plan for Future Success
Executing a Plan for Future Success ENB 2022 – 2024 Strategic Planning Objectives 1. Evolve Purposeful Leadership Capabilities 2. Develop a Robust Sales & Service Culture 3. Achieve Operational Excellence 4. Manage Risk to Achieve Greater Profitability 5. Pursue Emerging Opportunities that Align wit
Slide 14: Building Community
Building Community J. Harry Hibshman Scholarship By the Numbers Number of scholarships awarded in 2023 66 Value of scholarships awarded in 2023 $ 1.3 m Number of scholarships awarded since inception 4,600 Value of scholarships awarded since inception $ 32.7 m
Slide 15: 2023 Financial Results
2023 Financial Results 15 Presented by: Rachel G. Bitner Treasurer – ENB Financial Corp
Slide 16: Disclosures
Disclosures Unaudited Financial Information Some of the following slides present financial information that is unaudited. Therefore, this information is subject to adjustments that could be necessary upon completion of the annual audit. Forward Looking Statements Some of the material and/or language
Slide 17: Net Income
Net Income (in thousands) 11,395 12,299 14,916 14,631 12,375 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 2019 2020 2021 2022 2023
Slide 18: Significant Items
Significant Items Incr./ Decr . % Incr./ Decr . $ 2022 $ 2023 $ Dollars in Thousands 6.8 3,456 50,583 54,039 Net Interest Income - 60.0 (780) 1,300 520 Provision for Credit Loss 9.6 1,176 12,252 13,428 Other Income - 41.1 (535) 1,302 767 Gains on the Sale of Mortgages NA (1,506) 10 (1,496) Security
Slide 19: 2023 Balance Sheet Growth
2023 Balance Sheet Growth • Total Assets up $142.1 million + 7.6% • Total Loans up $169.0 million + 14.2% • Total Deposits up $87.8 million + 5.4% • Total Capital up $22.3 million + 22.9%
Slide 20: Capital Position
Capital Position (in thousands) 12/31/22 03/31/23 06/30/23 09/30/23 12/31/23 $97,335 $105,999 $106,334 $97,502 $119,654 Total Stockholders’ Equity $(48,292) $(40,633) $(41,244) $(52,721) $(34,355) Accumulated Other Comprehensive Income (Loss)
Slide 21: Performance Ratios
Performance Ratios 2021 % 2022 % 2023 % 0.95 0.83 0.65 Return on Average Assets (ROA) 11.16 13.63 12.03 Return on Average Equity (ROE) 2.81 3.03 2.94 Net Interest Margin 69.08 70.28 74.64 Efficiency Ratio
Slide 22: Per Share Data
Per Share Data 2021 2022 2023 $2.68 $2.62 $2.19 Earnings Per Share $0.67 $0.68 $0.68 Dividends Per Share 25.00 % 25.95% 31.05% Dividend Payout Ratio $21.70 $16.00 $14.75 Stock Price at Year - End
Slide 23: 2023 Peer Analysis
2023 Peer Analysis * as of 12/31/23 Peer Median ENBP Measurement 0.79% 0.65% Return on Average Assets 10.14% 12.03% Return on Average Equity 3.16% 2.94% Net Interest Margin 65.82% 74.64% Efficiency Ratio $251,000 $228,000 Revenue/full - time equivalent * Peer data consists of the Corporation’s strat
Slide 24: 2023 Peer Analysis
2023 Peer Analysis * as of 12/31/23 * Peer data consists of the Corporation’s strategic plan peer group which includes 14 banks in PA, NY, and MD with assets between $1.1 billion and $ 3.7 billion. Peer Median % ENBP % Measurement 7.06 5.98 Tangible Capital to Assets 13.05 13.27 Tier 1 Ratio 14.09 1
Slide 25: First Quarter 2024 Results (Unaudited)
First Quarter 2024 Results (Unaudited) • Earnings : $3,941,000, up $1,500,000, or 61.5% from Q1 2023 • Release of provision, higher non - interest income • ROA : 0.80% • ROE : 13.40% • Net Interest Income : Down $432,000, or 3.1% • Net Interest Margin : 2.81% • Other Income : Up $1,692,000, or 63.8%
Slide 26: Voting Results
Voting Results 26 Presented by: Adrienne L. Miller, Esq. Corporate Secretary – ENB Financial Corp
Slide 27: Questions & Answers
Questions & Answers : ENB Financial Corp
Slide 28: Annual Shareholder Meeting May 7, 2024
Annual Shareholder Meeting MAY 7, 2024