First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (January 2024)
32 slides from First Us Bancshares's investor presentation, Jan 26, 2024
Slide 1: Investor Presentation As of December 31, 2023
Investor Presentation As of December 31, 2023 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation of First US Bancshares, Inc. (“FUSB” or the “Company”) contains forward-looking statements, as defined by federal securities laws. Statements contained in this presentation that are not historical facts, including without limitation all statements relatin
Slide 3: Presentation Disclosure
Presentation Disclosure This presentation has been prepared by FUSB solely for informational purposes based on its own information, as well as information from public sources. This presentation has been prepared to assist interested parties in making their own evaluation of FUSB and does not purport
Slide 4: Contents
Contents Corporate Profile 5 Strategic Focus 8 2023 Full Year and 4Q2023 Highlights 12 Deposit Composition 13 Loan Portfolio Trends 14 Recent Financial Trends 19 5 Year Financial Trends 23 Risk Management – Capital, Liquidity and Market Sensitivity 26 Appendix: Non-GAAP Reconciliation 29
Slide 5: Company
Company Founded: 1952 Headquarters: Birmingham, AL First US Bank: 15 Branches / 2 LPOs Total Assets: $1,073 million Total Loans: $822 million Total Deposits: $950 million Loans to Deposits: 86.5% Exchange: Nasdaq: FUSB Stock price: $10.31 Tangible BV: $14.47 per share (1) Price to TBV: 71% Market Ca
Slide 6: Corporate Profile: Senior Leadership Team
Corporate Profile Senior Leadership Team James F. House President and Chief Executive Officer Veteran banker with SouthTrust Bank for 31 years Business consultant 2005 to 2009 focusing on management, investments, and commercial and consumer lending issues Florida Division President with BankTrust fr
Slide 7: First US Bank – Branch and LPO Location Map
Corporate Profile First US Bank – Branch and LPO Location Map
Slide 8: Strategic Focus
` PRIMARY GOALS Grow EPS, ROA and ROE Consistent, diversified loan and deposit growth Adherence to strong credit culture Effective expense control – both interest and non-interest LENDING FOCUS EXPENSE CONTROL LONGER TERM GROWTH EFFORTS Superior organic growth in earning assets Adherence to commerci
Slide 9: Update on Impact of Strategic Initiatives – Legal Dissolution of ALC
Strategic Focus Update on Impact of Strategic Initiatives – Legal Dissolution of ALC During 4Q2023, the Company legally dissolved its wholly owned consumer loan-focused subsidiary, Acceptance Loan Company, Inc. (“ALC”) after transferring all remaining assets and liabilities to the Bank via intercomp
Slide 10: Building and Maintaining a Diversified Balance Sheet
Strategic Focus Building and Maintaining a Diversified Balance Sheet Loan Composition as of 12/31/2023 Deposit Composition as of 12/31/2023
Slide 11: A Favorable Geographic Footprint
Strategic Focus A Favorable Geographic Footprint Potential Markets for Growth Alabama: Auburn Dothan Huntsville Montgomery Florida: Destin Panama City Pensacola Georgia: Athens Atlanta Augusta Columbus Macon Mississippi: Hattiesburg Jackson Meridian South Carolina: Greenville Tennessee: Memphis Nash
Slide 12: Continued Earnings Improvement
Continued Earnings Improvement 25.5% diluted EPS growth, comparing 2023 to 2022 Diluted EPS of $1.33 in 2023, compared to $1.06 in 2022 4Q2023 diluted EPS of $0.36, compared to $0.33 in 3Q2023, and $0.35 in 4Q2022 Increased earnings driven by improved net interest income, and reduced provision for c
Slide 13: Deposit Composition: A Stable Core Deposit Base
Deposit Composition A Stable Core Deposit Base
Slide 14: Loan Portfolio Trends: Quarterly Growth by Category
Loan Portfolio Trends Quarterly Growth by Category
Slide 15: Non-Residential CRE and Construction Portfolio Breakdown
Loan Portfolio Trends Non-Residential CRE and Construction Portfolio Breakdown Non-Residential CRE Breakdown as of 12/31/2023 Construction Breakdown as of 12/31/2023 Non-owner occupied office consists of 22 loans with an average loan size of $1.4 million. The properties are located in Tuscaloosa, AL
Slide 16: Loan Portfolio Trends: Indirect Portfolio
Loan Portfolio Trends Indirect Portfolio This portfolio segment includes loans secured by collateral purchased by consumers in retail stores with whom the Company has an established relationship to provide financing if applicable underwriting standards are met. The collateral securing these loans ge
Slide 17: Indirect Portfolio Breakdown
Loan Portfolio Trends Indirect Portfolio Breakdown Indirect by Collateral as of 12/31/2023(1) Indirect by State as of 12/31/2023(1)(2) (1) Dollars in thousands (2) Represents state in which the participating dealer operates
Slide 18: Asset Quality – Quarter Trend
Loan Portfolio Trends Asset Quality – 5 Quarter Trend 5 Quarter Annualized Net Charge-offs
Slide 19: Asset Quality – Nonperforming Assets and Nonperforming Loans
Recent Financial Trends Asset Quality – Nonperforming Assets and Nonperforming Loans Nonperforming Assets (1) Nonperforming Loans (2) Nonperforming assets: nonaccrual loans and OREO Nonperforming loans: nonaccrual loans
Slide 20: Quarter Annualized Margin Report
Recent Financial Trends 5 Quarter Annualized Margin Report Average rate including both interest-bearing and non-interest-bearing deposits Average rate on all interest-bearing liabilities and non-interest-bearing deposits
Slide 21: Profitability Metrics – Quarter Trend
Recent Financial Trends Profitability Metrics – 5 Quarter Trend (1) Calculations of tangible balances and measures are included in the Appendix
Slide 22: Balance Sheet Metrics – Quarter Trend
Recent Financial Trends Balance Sheet Metrics – 5 Quarter Trend
Slide 23: Profitability Metrics – Year Trend
5 Year Financial Trends Profitability Metrics – 5 Year Trend (1) Calculations of tangible balances and measures are included in the Appendix
Slide 24: Balance Sheet Metrics – Year Trend
5 Year Financial Trends Balance Sheet Metrics – 5 Year Trend
Slide 25: Share Price vs. Tangible Book Value
5 Year Financial Trends Share Price vs. Tangible Book Value (71% as of 12/31/2023)(1) (1) Calculations of tangible balances and measures are included in the Appendix
Slide 26: Risk Management: Equity Capital – Quarter Trend
Risk Management Equity Capital – 5 Quarter Trend (1) Calculations of tangible balances and measures are included in the Appendix.
Slide 27: Managing Liquidity and Investment Risk
Risk Management Managing Liquidity and Investment Risk Summary of Securities Portfolio The portfolio is structured with relatively short expected average lives in order to enhance liquidity Weighted average book yield was 2.48% in 4Q2023 Expected average life of securities in the portfolio was 3.9 y
Slide 28: Interest Rate Sensitivity
Risk Management Interest Rate Sensitivity The following table summarizes the forecasted impact on net interest margin and net interest income using a base case scenario given upward and downward shocks in interest rates of 100, 200 and 300 basis points (“bps”) based on forecasted assumptions of prep
Slide 29: Appendix: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations
Slide 30: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data) (1) Calculation of Return on average tangible common equity (annualized) = ((net income (d) / number of days in period) * number of days in year) / average tangible shareholders’ equity (c)
Slide 31: Non-GAAP Reconciliation
Appendix Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 32: Contact: Thomas S. Elley, Chief Financial Officer
www.firstusbank.com Contact: Thomas S. Elley Chief Financial Officer telley@firstusbank.com 205.582.1200
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