Citizens Community Bancorp, Inc. · NASDAQ:CZWI
Citizens Community Bancorp — FIG Partners Bank CEO Forum 2018
19 slides from Citizens Community Bancorp's conference presentation, Jan 29, 2018
Slide 1: FIG Partners Bank CEO Forum, Scottsdale, AZ
FIG Partners Bank CEO Forum Scottsdale, AZ January 31 – February 1, 2018 NASDAQ: CZWI
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation includes forward-looking statements about the financial condition, results of operations and business of Citizens Community Bancorp, Inc. (“Citizens”) and its wholly owned subsidiary, Citizens Community Federal N.A. (“CCFBank”).
Slide 3: Executive Management
Executive Management Stephen M. Bianchi has been President and CEO of Citizens Community Bancorp, Inc. since June 2016 and a Director since May 2017. Prior to joining the Bank, he was President and CEO of HF Financial Corp in Sioux Falls, SD. Prior experience includes Senior Vice President at Associ
Slide 4: Overview
Overview • Citizens Community Bancorp, Inc. (NASDAQ: “CZWI”) is the holding company of Citizens Community Federal N.A. (CCF), a national chartered bank based in Altoona, Wisconsin, serving customers in Wisconsin, Minnesota and Michigan through 21 branch locations. • Our primary markets include the n
Slide 5: Current CZWI Branch Locations
Current CZWI Branch Locations One additional office in suburban Detroit.
Slide 6: Shareholder Focus
Shareholder Focus • New management team with proven track record of executing strategic plans and enhancing shareholder value. • Commercial banking focus to transform credit union/savings and loan legacy balance sheet and culture. • Organic growth and M&A focused on current markets. • Asset growth t
Slide 7: Enhancing Performance and Franchise Value
Enhancing Performance and Franchise Value • Continue to enhance our commercial and retail deposit base by aligning our tactics, accountabilities and incentives. • Remix loan and deposit composition, focused on commercial, ag and municipal relationships. • Control expenses by leveraging new loan plat
Slide 8: Net Income
Net Income $2,806 $2,573 $2,499 $1,340 $3,322 $3,563 $4,260 $1,755 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 FY2015 FY2016 FY2017 FQ1-18 (In $000’s) Net Income Core Income (1) (2) (1) Fiscal 2016 Pretax Income includes acquisition costs of $701k and branch closer costs of $839k
Slide 9: Earnings Per Share
$0.54 $0.49 $0.46 $0.23 $0.62 $0.68 $0.79 $0.30 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 FY2015 FY2016 FY2017 FQ1-18 (In $) EPS Core EPS Diluted EPS
Slide 10: Net Interest Margin
Net Interest Margin 3.36% 3.31% 3.41% 3.29% 3.42% 2.79% 2.80% 2.83% 2.88% 2.88% 4.19% 4.13% 4.23% 4.13% 4.27% 0.96% 0.94% 0.96% 0.96% 0.96% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% FQ1-17 FQ2-17 FQ3-17 FQ4-17 FQ1-18 Net Interest Margin SNL Bank & Thrift Index
Slide 11: Revenue Summary
Revenue Summary $5.72 $5.56 $5.22 $5.32 $6.17 $7.53 $1.14 $1.24 $1.13 $0.99 $1.39 $1.94 $- $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 FQ4-16 FQ1-17 FQ2-17 FQ3-17 FQ4-17 FQ1-18 Net Interest Income Noninterest Income Millions $9.47 $6.86 $6.80 $6.35 $6.31 $7.56
Slide 12: Noninterest Expense & FTE's
Noninterest Expense & FTE’s $- $1 $2 $3 $4 $5 $6 $7 $8 $9 FQ4-16 FQ1-17 FQ2-17 FQ3-17 FQ4-17 FQ1-18 Other Expenses Amrt of Core Deposit Intangible Data Processing Professional Services Advertising, Marketing & Public Relations Occupancy & Office Expense Compensation & Benefits 177 161 154 143 198 20
Slide 13: Asset Quality
Asset Quality 0.62% 1.08% 1.05% 1.10% 1.49% 1.50% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% FQ4 16 FQ1 17 FQ2 17 FQ3 17 FQ4 17 FQ1 18 1.06% 1.08% 1.09% 1.11% 0.81% 0.80% 0.10% 0.11% 0.06% 0.06% 0.08% 0.10% 0.00% 0.02% 0.04% 0.06% 0.08% 0.10% 0.12% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20
Slide 14: Asset Quality Composition Bank Facilities
Asset Quality Composition Bank Facilities
Slide 15: Loan Composition
Loan Composition Residential RE 32.4% Commercial /Ag RE 39.4% Commercial/Ag Non RE 11.2% Originated Indirect 10.8% Purchased Indirect 3.6% Other Consumer Non- RE 2.6% Post Wells Acquisition At December 31, 2017 Pre Wells Acquisition At June 30, 2017 Residential RE 30.1% Commercial /Ag RE 33.0% Comme
Slide 16: Deposit Composition
Deposit Composition Pre Wells Acquisition At June 30, 2017 Post Wells Acquisition At December 31, 2017 13.4%
Slide 17: Investing Opportunity Remains; Stock Price to Tangible Book Value
Investing Opportunity Remains; Stock Price to Tangible Book Value $5.00 $5.90 $7.25 $8.85 $8.84 $11.18 $13.85 $13.60 $10.21 $10.68 $10.47 $11.20 $11.72 $11.22 $9.78 $9.98 $0.00 $3.00 $6.00 $9.00 $12.00 $15.00 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 Q1 18 Price Reported Tangible Book Value/S
Slide 18: CZWI Price Change
CZWI Price Change - Price change from Jan. 1, 2016 through Jan. 17, 2018. - Total return includes stock appreciation plus dividends.
Slide 19: Value Opportunity
Value Opportunity • Earnings accretion from the Wells Financial Corp., which closed in August 2017, has yet to be fully realized. • Trailing P/E ratio not indicative of current value due to one-time expenses for branch closures and acquisition expenses. • Tax Cuts and Jobs Act of 2017 will enhance r
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