Pcb Bancorp · NASDAQ:PCB
Pcb Bancorp — Q1 2025 Earnings Presentation
19 slides from Pcb Bancorp's earnings presentation, Apr 24, 2025
Slide 1: Earnings Results 1Q25
Earnings Results 1Q25 April 24, 2025
Slide 2: Forward-Looking Statements & Non-GAAP
Forward-Looking Statements & Non-GAAP Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our be
Slide 3: Corporate Profile
Corporate Profile Market Information 4/22/25 PCB Footprint Market Cap $271.3 million Stock Price Per Share $18.96 52-Week Range $14.50 - $22.20 Dividend Yield 4.22% Dividend Payout Ratio (2Q24 – 1Q25) 37.95% Outstanding Shares 14,306,583 Stock Information 1Q25 or 3/31/25 Diluted Earnings Per Share (
Slide 4: Historical Performance
Historical Performance (1) At period end (2) Not presented in accordance with GAAP. See “Non-GAAP Financial Measures” for reconciliations of these measures to their most comparable GAAP measures 4
Slide 5: 1Q25 Highlights
1Q25 Highlights • Net income available to common shareholders of $7.7 million, or $0.53 per diluted share • Provision for credit losses of $1.6 million Operating Results • Return on Average Assets (“ROAA”) of 1.01%, Return on Average TCE (“ROATCE”)(1) of 10.45%, net interest margin of 3.28%, and eff
Slide 6: Selected Financial
Selected Financial As of or For the Three Months Ended Compared to 12/31/24 Compared to 3/31/24 ($ in Thousands, Except Per Share Data) 3/31/25 12/31/24 3/31/24 Amount Percentage Amount Percentage Income Statement Summary: Interest Income $ 46,892 $ 46,319 $ 43,555 $ 573 1.2% $ 3,337 7.7% Interest E
Slide 7: Loan Overview
Loan Overview 1Q25 Highlights • HFI loans increased $98.2 million, or 3.7%, to $2.73 billion from 12/31/24 • CRE loans increased $62.6 million (3.6%), C&I loans increased $21.9 million (4.6%) and consumer loans increased $13.7 million (3.4%) (1) Per regulatory definition in the Commercial Real Estat
Slide 8: Loan Production & Rate/Yield Analysis
Loan Production & Rate/Yield Analysis Repricing Schedule (3/31/25) HFI Loans HFS Loans Total Loans ($ in thousands) Carrying Value WA Rate Carrying Value WA Rate Carrying Value WA Rate Less Than 3 Months $ 1,056,137 7.61% $ 12,101 8.82% $ 1,068,238 7.63% 3 to 12 Months 328,685 5.71% 0 328,685 5.71%
Slide 9: Loan Concentration
Loan Concentration Commercial Real Estate Loans by Property Type (3/31/25) Carrying % to WA WA Maturing ($ in thousands) Value Total Count LTV(1) Rate <= 1 Year 2-3 Years 3-5 Years > 5 Years Retail (More Than 50%) $ 386,804 21.2% 318 48.4% 6.02% $ 77,141 $ 62,793 $ 134,570 $ 112,300 Industrial 281,8
Slide 10: Loan Concentration
Loan Concentration Commercial & Industrial Loans by Industry Type (3/31/25) Carrying % to WA WA Month to ($ in thousands) Value Total Rate Maturity Finance & Insurance $ 174,564 35.3% 6.84% 6 General Manufacturing & Wholesale Trade 104,705 21.2% 7.23% 16 Retail Trade 56,035 11.3% 7.64% 35 Food Servi
Slide 11: Credit Quality & Peer Comparison
Credit Quality & Peer(1) Comparison (1) Korean-American banks operating in Southern California (2) Source: UBPR (3) PCB Bank’s Peer Group per UBPR (4) Source: press releases concerning financial performance 11
Slide 12: Deposits
Deposits Time Deposit Maturity Schedule (3/31/25) Retail Wholesale Total ($ in thousands) Amount WA Rate Amount WA Rate Amount WA Rate Less Than 3 Months $ 304,591 4.69% $ 161,283 4.43% $ 465,874 4.60% 3 to 6 Months 235,874 4.56% 110,000 4.22% 345,874 4.45% 6 to 9 Months 286,635 4.25% 131,000 4.20%
Slide 13: Profitability
Profitability 1Q25 Highlights • Net interest income increased $1.1 million, but noninterest income decreased $463 thousand and noninterest expense increased $580 thousand compared to 4Q24 (1) PTPP (Pre-Tax Pre-Provision) income, and adjusted EPS, ROAA and ROAE for PTPP are not presented in accordanc
Slide 14: Noninterest Income & Expense
Noninterest Income & Expense (1) Annualized (2) Calculated by dividing noninterest expense by the sum of net interest income and noninterest income. Peer average data from UBPR (3) Full-time equivalent
Slide 15: Net Interest Margin
Net Interest Margin 1Q25 Highlights • Net interest income increased $1.1 million to $24.3 million from $23.2 million for 4Q24 • Net interest margin increased to 3.28% from 3.18% for 4Q24 mainly due to a decrease in cost of interest-bearing liabilities, partially offset by decreases in loan and earni
Slide 16: Capital
Capital (1) Not presented in accordance with GAAP. See “Non-GAAP Financial Measures” for a reconciliation of this measure to its most comparable GAAP measure. 16
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the financial information presented in accordance with GAAP, we use certain non-GAAP financial measures. Management believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance. These measures are also useful in u
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table reconciles core deposits to its most comparable GAAP measure: ($ in thousands) Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Total Deposits (d) $ 2,188,231 $ 2,192,129 $ 2,351,612 $ 2,402,840 $ 2,406,254 $ 2,459,682 $ 2,615,791 $ 2,714,399 Le
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures The following table reconciles PTPP income, and adjusted ROAA, ROAE and diluted EPS for PTPP to their most comparable GAAP measures: ($ in thousands) 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Net Income (a) $ 7,477 $ 7,023 $ 5,908 $ 4,685 $ 6,281 $ 7,814 $ 7,030 $ 7,735 Add