Uscb Financial Holdings, Inc. · NASDAQ:USCB
Uscb Financial — Q3 2022 Earnings Presentation
21 slides from Uscb Financial's earnings presentation, Oct 27, 2022
Slide 1: Third Quarter 2022 Earnings Presentation
Exhibit 99.2 USBC FINANCIAL HOLDINGS Third Quarter 2022 Earnings Presentation October 28, 2022
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: Q3 2022 Highlights
Q3 2022 Highlights Capital/ Credit Credit metrics remain strong. There were no loans classified as nonperforming. ACL coverage ratio was 1.16%. Tangible Book Value per Share is at $8.87, down $0.13 from prior quarter primarily due to AOCI. Classified $74.4 million of securities from AFS to HTM to pr
Slide 4: Historical Financial Data
Historical Financial Data Total Loans (1) In millions $735 $1,432 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 2022 2022 2022 Total Deposits In millions $782 $1,797 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 2022 2022 2022 Total stockholders' equity In millions $86 $177 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3
Slide 5: Hurricane Ian Update
Hurricane Ian Update On September 28, 2022, Hurricane Ian made landfall in Florida as a category 4 hurricane affecting some areas of the state with significant flooding, wind damage and power outages. The Credit Department identified all potential impact zones and tracked the storms progress. 27 cou
Slide 6: Financial Results
Financial Results In thousands (except per share data) Balance Sheet (EOP) Q3 2022 Q2 2022 Q3 2021 Income Statement Total Securities Total Loans '?) Total Assets Total Deposits Total Equity '2) Net Interest Income Non-interest Income Total Revenue Provision for Credit Losses Non-interest Expense Net
Slide 7: Key Performance Indicators
Key Performance Indicators Q3 2022 Q2 2022 Q3 2021 Capital/ Credit Profitability Growth Tangible Common Equity/Tangible Assets!) Total Risk-Based Capital NCO/Avg Loans ©! NPA/Assets Allowance Credit Losses/Loans Return On Average Assets (ROAA) ) Return On Average Equity (ROAE) Net Interest Margin !
Slide 8: Loan Portfolio
Loan Portfolio Total Loans (AVG) In millions $1,400 $1,300 $1,200 $1,100 $1,000 $900 $800 $1,144 $1,159 $1,211 $1,296 $1,399 $700 $73 $51 $35 $18 $7 $600 $1,071 $1,108 $1,176 $1,278 $1,392 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Loans (Exd PPP) PPP Loans Loan Yields 5.00% 4.50% 4.00% 3.50% 3.00% 2.5
Slide 9: Loan Production
Loan Production Net Loan Production Trend In millions $180 $160 $140 $120 $100 $80 $60 $40 $20 $117 $88 $119 $106 $141 $74 $169 $56 $130 $71 $0 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Loan Production/Line changes Loan Amortization/payoffs Commentary 2022 payoffs slowing with increase in interest rat
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. In thousands (except for ROAA) Q3 2022 Q2 2022 Q3 2021 Pre-Tax Income $7,521 $7,003 $8,681 Net Income $5,558 $5,295 $6,593 Average Assets $2,026,7
Slide 11: Deposit Portfolio
Deposit Portfolio Deposits (AVG) In millions $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $1,477 $1,562 $1,650 $1,717 $1,763 $600 $229 $228 $223 $224 $217 $400 $628 $674 $736 $781 $823 $200 $55 $56 $65 $67 $67 $- $565 $604 $626 $645 $656 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Non-interest-bearing
Slide 12: Net Interest Margin
Net Interest Margin Net Interest Income/Margin (1) In thousands (except ratios) $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 3.19% 3.19% 3.22% 337.00% 3.47% $2,000 3.08% 3.06% 3.05% 3.27% 3.45% $0 $13,471 $14,076 $14,379 $15,642 $16,774 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Net Int
Slide 13: Interest Rate Sensitivity
Interest Rate Sensitivity Loan Portfolio Repricing Profile by Rate Type Hybrid ARM 6% Variable Rate 55% Fixed Rate 39% 16% 16% 68% Prime CMT LIBOR Loan Repricing Schedule Variable/Hybrid Rate Loans 31% 9% 10% 50% yrs. 1-2 yrs. 2-3 yrs. >3 yrs Static NII Simulation Year 1 & 2 $4,000 $3,500 $3,000 $2,
Slide 14: Non-interest Income
Non-interest Income Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Service fees $934 $1,083 $900 $961 $856 Gain (loss) on sale of securities available for sale (558) (3) 21 35 (70) Gain on sale of loans held for sale 330 22 334 107 532 Gain on sale of other assets - - - 983 - Loan settlement - - 161 - 2,50
Slide 15: Non-interest Expense
Non-interest Expense In thousands (except ratios and FTE) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Salaries and employee benefits $6,075 $5,913 $5,875 $5,634 $5,313 Occupancy 1,281 1,251 1,270 1,267 1,192 Regulatory assessments and fees 269 226 213 93 317 Consulting and legal fees 604 398 517 539 357
Slide 16: Asset Quality
Asset Quality Allowance for Credit Losses In thousands (except ratios) $17,000 $16,000 $15,000 $14,000 1.33% 1.31% 1.22% 1.16% 1.16% $13,000 1.27% 1.27% 1.20% 1.15% 1.16% $12,000 $14,900 $15,057 $15,074 $15,786 $16,604 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Allowance for credit losses ACL/Total loa
Slide 17: Capital
Capital Capital Ratios(1) Leverage Ratio TCE/TA (2) Tier 1 Risk Based Capital Total Risk Based Capital Q3 2022 9.48% 8.71% 12.56% 13.65% Q2 2022 9.43% 8.93% 12.65% 13.74% Q3 2021 9.69% 11.51% 13.85% 15.10% Well- Capitalized 5.00% NA 8.00% 10.00% Commentary All capital ratios remain significantly abo
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) Pre-TaxPre Provision ("PTPP") Income: Netincome Plus: Provision forincome taxes Plus: Provision for credit losses PIPP income PIPP Return on Average Assets: PIPP income S 34st 78 $ 6712 $ 7401 $ S681 Average assets S 2679 $ 196381 $ 191344 $ 19808
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation In thousands (except per share data) As of and for the three months ended 30022 ‘63072022 3312022 12302021 9302021 ‘Tangible Book Value per Common Share (at peried-end):) Total stockholders’ equity s may $ 1006S 192039 S$ 2897S 201918, Less:Intangible assets = e - : Less: Pre
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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