Uscb Financial Holdings, Inc. · NASDAQ:USCB
Uscb Financial — Q1 2022 Earnings Presentation
19 slides from Uscb Financial's earnings presentation, Apr 28, 2022
Slide 1: First Quarter 2022 Earnings Presentation
Exhibit 99.2USCB FINANCIAL HOLDINGSFirst Quarter 2022Earnings PresentationApril 29, 20221
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain statements that are not historical in nature are intended to be, and are hereby identified as, forward - looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amend ed. The words
Slide 3: Q1 2022 Highlights
Q1 2022 Highlights Capital/ Credit Credit metrics rema in pristine. There were no loans classified as nonperforming. ACL coverage ratio was 1.20% in line with pre pandemic levels. On January 24, 2022 the Board of Directors approved a share repurchase program for 750,000 shares of Class A common stoc
Slide 4: Financial Results
Financial Results In thousands (except per share data) Balance Sheet (EOP) Income Statement Q1 2022 Q4 2021 Q1 2021 Total Securities $514,575 $524,200 $341,344 Total Loans ( $1,258,388 $1,190,081 $1,103,981 Total Assets $1,967,252 $1,853,939 $1,633,359 Total Deposits $1,713,294 $1,590,379 $1,404,231
Slide 5: Key Performance Indicators
Key Performance Indicators Q1 2022 Q4 2021 Q1 2021 Capital/ Credit Tangible Common Equity/Tangible Assets(1) 9.76% 11.00% 8.47% Total Risk Based Capital (2) 14.49% 14.92% 13.80% NCO/Avg Loans (3) - 0.01% 0.05% 0.03% NPA/Assets 0.00% 0.06% 0.04% Allowance Credit Losses/Loans 1.20% 1.27% 1.36% Profita
Slide 6: Loan Portfolio
Loan PortfolioIn millions$1,200$1,072$1,088$1,144$1,159$1,211$1,100$113$99$73$51$35 $1,000 $359 $984$1,071$118$1,176$900 $800 $700$600Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022Loans (Excl PPP)PPP LoansCommentaryTotal average loans excluding PPP loans increased $68.9 million or 25.2% annualized compared
Slide 7: Paycheck Protection Program (PPP)
Paycheck Protection Program (PPP)3 successful rounds of PPP loans, originating $168.4 million. Forgiveness of the last round of PPP loans is in process.In thousands (except for ROAA)Q1 2022Q4 2021Q1 2021PreTax Income$6,712$7,401$6,279Net Income$4,854$5,650$4,781Average Assets$1,913,484 $1,828,037$1,
Slide 8: Deposit Portfolio
Deposit PortfolioDeposits (AVG) In millions$1,800 $1,344$1,432$1,477$1,562$1,650$1,600$248$236$229$228$223 $1,400$569$608$628$674$736$1,200$45$52$55$56$65$1,000$482$536$565$604$626$800 $600$400$200$0Q1 2021Q2 2021Q3 2021Q4 2021Q1 2022Noninterest bearing depositsInterestbearing demand depositsMoney m
Slide 9: Net Interest Margin
Net Interest Margin Net Interest Income/Margin (1)In thousands (except ratios)$16,0003.50%3.14%3.19%3.19% 3.22%$14,0003.19%3.10% 3.08%3.06%3.05%$12,000 $12,475$12,474$13,471$14,076$14,379$10,000 $8,000 $6,000 $4,000 $2,000 Q1 2021Q2 2021Q3 2021Q4 2021Q1 2022Net Interest IncomeNIMNIM excluding PPP Lo
Slide 10: Interest Rate Sensitivity
Interest Rate SensitivityLoan Portfolio Repricing Profileby Rate TypeHybrid ARM7%Variable Rate51%Fixed Rate42%25%54%21%Loan Repricing Schedule Variable/Hybrid Rate Loans36%46%5% 13%yrs 12 yrs 23 yrs >3 yrsCMTPrimeLiborStatic NII Simulation Year 1 & 2$6,000$5,000$4,000$3,000 $2,0001.80%2.00%4.16% 7.9
Slide 11: Non interest Income
Non interest Income In thousands (except ratios) Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Service fees $900 $961 $856 $903 $889 Gain (loss) on sale of securities available for sale 21 35 (70) 187 Gain on sale of lo ans held for sale 334 107 532 23 964 Gain on sale of other assets 983 Loan settlement
Slide 12: Non interest Expense
Non interest Expense In thousands (except ratios and FTE) Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Salaries and employee benefits $5,875 $5,634 $5,313 $5,213 $5,278 Occupancy 1,270 1,267 1,192 1,411 1,387 Regulatory assessment and fees 213 93 317 195 178 Consulting and legal fees 517 539 357 373 185
Slide 13: Business Verticals
Business Verticals EOP (in millions) PCG (1) HOA (2) BA (3) Global Yachts Deposits Q1 2022 $149 $74 $141 Q4 2021 $130 $68 $154 Q1 2021 $117 $79 $137 Loans Q1 2022 $62 $40 $67 $68 Q4 2021 $46 $39 $62 $80 Q1 2021 $29 $43 $46 $0 (1) JA/PCG: Jurist Advantage/Private Client Group. (2) HOA: Homeowners Ass
Slide 14: Asset Quality
Asset Quality Allowance for Credit Losses In thousands (except ratios) $15,100 5.10% 1.40% 1.33% 1.31% 2.20% $15,050 1.36% 1.30% 1.27% 1.27% 1.20% $15,0 00 $15,009 $14,848 $14,900 $15,057 $15,074 $14,950 $14,900 $14,850 $14,800 $14,750 $14,700 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Allowance for cr
Slide 15: Capital
Capital Capital Ratios Q1 2022 Q4 2021 Q1 2021 WellCapitalized Leverage Ratio 9.47% 9.55% 8.57% 5.00% TCE/TA 9.76% 11.00% 8.47% NA Tier 1 Risk Based Capital 13.35% 13.70% 12.54% 8.00% Total Risk Based Capital 14.49% 14.92% 13.80% 10.00% Commentary All capital ratios remain significantly above “well
Slide 16: Takeaways
Takeaways Leading Franchise Located in one of the Most Attractive Banking Markets in Florida and the U.S. Experienced and Tested ManagementTeam Robust Organic Growth Low Risk, Commercially Oriented Loan Portfolio Strong Asset Quality, with Minimal Chargeoffs Experienced Since Recapitalization Strong
Slide 17: Non GAAP Reconciliation
Non GAAP Reconciliation In thousands (except ratios) 3/31/2022 Pre Tax Pre Provision ("PTPP") Income: Net income$ 4,854 Plus: Provision for income taxes 1,858 Plus: Provision for (recovery, of) credit losses PTPP income$ 6,712 PTPP Return on Aver age Assets: PTPP income$ 6,712 Average assets$ 1,913,
Slide 18: Non GAAP Reconciliation
Non GAAP Reconciliation In thousands (except per share data) As of and for the three mouths ended /I \ 3/31/2022 12/31/2021 9/30/2021 6/30/2021 3/31/2021 Tangible Book Value per Common Share (at period end):' Total stockholders ' equity (GAAP) $ 192,039 $ 203,897 $ 201,918 $ 166,302 $ 170,425 Less:
Slide 19: Contact Information
Contact Information Lou de la AguileraPresident, CEO & Director(305) 7155186 laguilera@uscentury.com Rob AndersonChief Financial Officer (305) 7155393 rob.anderson@uscentury.com Investor Relations InvestorRelations@uscentury.com19
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