Mainstreet Bancshares, Inc. · NASDAQ:MNSB
Mainstreet Bancshares — Q1 2021 Earnings Presentation
21 slides from Mainstreet Bancshares's earnings presentation, Jun 7, 2021
Slide 1: Financial Highlights 1st Quarter 2021
MainStreet Bancshares, Inc. Nasdaq: MNSB & MNSBP Financial Highlights 1st Quarter 2021 A Russell 2000 Company
Slide 2: Forward-looking statements
This presentation contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. The statements contained in this presentation that are not historical facts are forward-looking statements as defined in the Private Se
Slide 3: About MainStreet Bank
About MainStreet Bank As-Of March 31, 2021 (S&P Global Market Intelligence)
Slide 4: Washington D.C. metro and Northern Virginia market
4 The Washington D.C. metro area, and the Company’s primary footprint in Northern Virginia in particular, are among the most demographically appealing areas in the entire country, bringing people and companies to the region at a very significant rate. This also makes for a dynamic banking market tha
Slide 5: Quarterly Income Comparison
Quarterly Income Comparison1 2021 Q1 Income Interest Income: $16.3 Million Non-Interest Income: $ 1.4 Million Net Income: $ 5.5 Million One time reversal of $2.3M allowance results in Q4’20 bump in net income above pre-tax, pre-provision income. Pre-tax, pre-provision income demonstrates the ability
Slide 6: Non-Interest Income Q1 2021
Non-Interest Income Q1 2021 Non-Interest Income ($000) “Other Non-Interest Income” includes $286K in mortgage origination fees. 2015 to 2020 Compound Annual Growth Rate. CAGR: 42.7%1
Slide 7: Strong Growth Story
Strong Growth Story CAGR: 24% Lifetime1 2021 is Q1 only. Total Assets ($MM)
Slide 8: Strong Loan Growth
Strong Loan Growth Loan Portfolio Composition as of 3/31/21 Gross Loan Growth ($MM) CAGR: 26.5%1 Total Loans: $1.3B 2015 to 2020 Compound Annual Growth Rate.
Slide 9: Strong Deposit Growth
Strong Deposit Growth Deposit Composition as of 3/31/21 Noninterest-Bearing Deposits ($000) Total Deposits: $1.5B Noninterest Bearing Deposits increased 33% QoQ and account for 32% of all Deposits CAGR: 40.2%1 2015 to 2020 Compound Annual Growth Rate.
Slide 10: Cost of Deposits & Core Deposits
Cost of Deposits & Core Deposits 20Q2 to 21Q1 drop attributable to low interest rates and repricing of maturity deposits. Month-end data annualized on a 365-day basis. Cost of Interest-Bearing Deposits1 & Core Deposits / Total Deposits (%)
Slide 11: Net Interest Margin (NIM) Calculation
Net Interest Margin (NIM) Calculation Net Interest Margin Shows Signs of Stabilizing Stable Interest Income. Decreasing Interest Expense. 3-Consecutive quarters of NIM growth since low of 3.04% in 2020Q2. NII / Avg Earning Assets & NIE / Avg Earning Assets 3.41% NIM
Slide 12: Profitability
Profitability1 2021 is Q1 annualized. Non-GAAP measure. EPS is 2021 Q1 LTM
Slide 13: Operating Efficiency, Margin Trends, and Capital
Operating Efficiency, Margin Trends, and Capital1 2021 is Q1 annualized. Noninterest income excluding nonrecurring revenue/total revenue excluding nonrecurring revenue. Non-GAAP measure.
Slide 14: Credit Quality and Loss Provisioning
Credit Quality and Loss Provisioning Excludes PPP Loans
Slide 15: Hospitality Sector is on the Upswing
Start of Pandemic Hospitality Sector is on the Upswing Occupancy is at its highest point since before the pandemic. The bank currently has 15 customers in the Hospitality sector, totaling $126M in loans. The occupancy chart is representative of the Bank’s current hotel customers.
Slide 16: External Analytics
MainStreet Bancshares, Inc. External Analytics “MNSB beat our EPS estimate by $0.17 per share or 35% due to better Spread (+$0.11 / sh vs our estimates) and lower Expenses (+0.07 / sh impact), partially offset by lower Fee income. Pre-Tax Pre-Provision Earnings were $7.1M, up 4.2% L-Q and up 55% yea
Slide 17: Share price since buyback
Weekly share price has had steady rise since beginning of November (during which the buyback occurred). 58% growth in share price since end of September. ~835K Shares purchased between Oct. 26 and Nov. 23. Share Buyback Period Stock Price Since Share Buyback
Slide 18: Stock Price & Index Comparison
Stock Price & Index Comparison Percent change from January 1, 2021. MNSB is up 25.60% since Jan 1, 2021. Russell 2000 is up 9.31% since Jan 1, 2021. Pricing data from Yahoo Finance (^RCMP & ^RUT) and S&P Global Market Intelligence (MNSB).
Slide 19: Summary of Financial Information
Summary of Financial Information
Slide 20: Summary of Financial Information Cont.
Summary of Financial Information Cont.
Slide 21: MainStreet Bancshares, Inc. Financial Highlights 1st Quarter 2021
MainStreet Bancshares, Inc. Financial Highlights 1st Quarter 2021
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