Uscb Financial Holdings, Inc. · NASDAQ:USCB
Uscb Financial — Q2 2022 Earnings Presentation
21 slides from Uscb Financial's earnings presentation, Jul 28, 2022
Slide 1: Second Quarter 2022 Earnings Presentation
Exhibit 99.2 USBC FINANCIAL HOLDINGS Second Quarter 2022 Earnings Presentation July 29, 2022 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain statements that are not historical in nature and 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 amended. The words
Slide 3: Q2 2022 Highlights
Q2 2022 Highlights Capital/Credit Credit metrics remain pristine. There were no loans classified as nonperforming. ACL coverage ratio was 1.15%. Tangible Book Value per Share is at $9.00, down $0.60 from prior quarter primarily due to AOCI. No shares repurchased during the quarter; Board approved re
Slide 4: Historical Financial Data
Historical Financial Data Total Loans (1) in Millions $735 $1,373 2016 2017 2018 2019 2020 2021 Q1 Q2 2022 2022 Total Deposit s in millions $782 $1,739 2016 2017 2018 2019 2020 2021 Q1 Q2 2022 2022 Total Stockholders’ Equity in millions $86 $180 2016 2017 2018 2019 2020 2021 Q1 Q2 2022 2022 ACL/Tota
Slide 5: Financial Results
Financial Results In thousands (except per share data) Q2 2022 Q1 2022 Q2 2021 Balance Sheet (EOP) Total Securities $456,135 $514,575 $395,804 Total Loans (1) $1,372,733 $1,258,388 $1,145,095 Total Assets $2,016,086 $1,967,252 $1,667,005 Total Deposits $1,738,720 $1,713,294 $1,438,776 Total Equity $
Slide 6: Key Performance Indicators
Key Performance Indicators Q2 2022 Q1 2022 Q2 2021 Capital/Credit Tangi ble Common Equity/Tangible Assets(1) 8.93% 9.76% 8.50% Total Risk-Based Capital (2) 13.74% 14.49% 12.69% NCO/Avg Loans (3) 0.00% -0.01% 0.06% NPA/Assets 0.00% 0.00% 0.00% Allowance Credit Losses/Loans 1.15% 1.20% 1.30% Profitabi
Slide 7: Loan Portfolio
Loan Portfolio Total Loans (AVG) in millions $1,300 $1,200 $1,100 $1,000 $900 $800 $1,088 $1,144 $1,159 $1,211 $1,296 $700 $99 $73 $51 $35 $18 $600 $989 $1,071 $1,108 $1,176 $1,278 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Loans (Exd PPP) PPP Loans Loan Yields 5.00% 4.50% 4.00% 3.50% 3.00% 2.50% 2.00%
Slide 8: Loan Portfolio Mix
Loan Portfolio Mix Loan Portfolio Mix Residential real estate CRE – Non-owner occupied CRE – Owner occupied Commerical and industrial Global Banking Consumer and other 8% 15% 51% 10% 10% 8% Commentary Total Loan balances at quarter end was $1.373 billion. Commercial Real Estate (owner occupied and n
Slide 9: Loan Production
Loan Production Net Loan Production Trend in millions $180 $160 $140 $120 $100 $80 $60 $40 $20 $144 $104 $117 $88 $119 $106 $141 $74 $169 $56 0 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Loan Production/Line changes Loan Amortization/payoffs Commentary Q2 loan growth driven by increased production leve
Slide 10: 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. SBA PPP Loans In thousands (except for ROAA) Q2 2022 Q1 2022 Q2 2021 Pre-Tax Income $7,003 $6,712 $5,316 Net Income $5,295 $4,854 $4,053 Average A
Slide 11: Deposit Portfolio
Deposit Portfolio Deposits (AVG) in millions $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $1,432 $1,477 $1,562 $1,650 $1,717 $400 $236 $229 $228 $223 $224 $200 $608 $628 $674 $736 $781 $0 $52 $55 $56 $56 $67 $5,536 $5,565 $5,604 $5,626 $5,645 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Non-intere
Slide 12: Net Interest Margin
Net Interest Margin Net Interest Income/Margin (1) in thousands (exceptions) Net Interest Income NIM NIM excluding PPP Loans Interest-Earning Assets Mix (AVG) Total Loans (excluding PPP Loans) Investment Securities PPP Loans Cash Balance & Equivalents Commentary Net interest income increased by $1.3
Slide 13: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio Repricing Profile by Rate Type Hybrid ARM 6% Variable Rate 53% Fixed Rate 41% 22% 18% 60% 22% Loan Repricing Schedule Variable/Hybrid Rate Loans 46% 37% 6% 11% 46% 0-4-1 yrs. 1-2 yrs. 2-4 yrs Static NII Simulation Year 1 & 2 $5,000 $4,000 $3,000 $2,000 3.3% 5
Slide 14: Non-interest Income
Non-interest Income In thousands (except ratios) Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Service fees $1,083 $900 $961 $856 $903 Gain (loss) on sale of securities available for sale (3) 21 35 (70) 187 Gain on sale of loans held for sale 22 334 107 532 23 Gain on sale of other assets - - 983 - - Loan
Slide 15: Non-interest Expense
Non-interest Expense In thousands (except ratios and FTE) Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Salaries and employee benefits $5,913 $5,875 $5,634 $5,313 $5,213 Occupancy 1,251 1,270 1,267 1,192 1,411 Regulatory assessment and fees 226 213 93 317 195 Consulting and legal fees 398 517 539 357 373
Slide 16: Asset Quality
Asset Quality Allowance for Credit Losses In thousands except ratios 1.40% 1.33% 1.31% 1.22% 1.16% 1.30% 1.27% 1.27% 1.20% 1.15% $1,848 $14,900 $15,057 $15,074 $15,786 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Allowance for credit losses ACL/Total loans ACL/Total loans excluding PPP Loans Commentary A
Slide 17: Capital
Capital Capital Ratios11*! Q2 2022 Leverage Ratio 9.43% TCE/TA{2) 8.93% Tier 1 Risk Based Capital 12.65% Total Risk Based Capital 13.74% Q1 2022 Q2 2021 Well- Capitalized 9.47% 7.91% 5.00% 9.76% 8.50% NA 13.35% 11.44% 8.00% 12.69% 10.00% 14.49% Commentary All capital ratios remain significantly abov
Slide 18: Takeaways
Takeaways Leading Franchise Located in one of the Most Attractive Banking Markets in Florida and the U.S. Experienced and Tested Management Team Robust Organic Growth Strong Asset Quality, with Minimal Charge-offs Experienced Since Recapitalization Strong Profitability, with Pathway For Future Enhan
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except ratios) 6/30/2022 Pre-Tax Pre-Provis ion f TIPP") Income: Netincora?$5.295 Rus: Provision forincone taxes 1.708 Rus: Revision for credit losses 705 PIPP incone _S 7,708 PTPP Return on Average As sets: PIPP incone$7.708 Average assets$1,96S,3S1 PIPP return
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except per share data) In thousands (except per A. of i»d for ike ar»ao»a-. tided fl 1 6 30.2022 3 31 2022 12 3 1 2021 9 30 2021 6 30.2021 Ti agible Bock Va lie per Cor* noi Shire (it period-ead): loulclockholdcrc'eoas v (GA AP| S ISXObS s 192019 S 201 *9 7 s 20
Slide 21: Contact Information
Contact Information Lou de la Aguilera President, CEO & Director (305) 715-5186 laguilera@uscentury.com Rob Anderson Chief Financial Officer (305) 715-5393 rob.anderson@uscentury.com Investor Relations InvestorRelations@uscentury.com 21
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