First Us Bancshares, Inc. · NASDAQ:FUSB
First Us Bancshares — Investor Presentation (April 2021)
35 slides from First Us Bancshares's investor presentation, Apr 28, 2021
Slide 1: Investor Presentation As of March 31, 2021
Investor Presentation As of March 31, 2021
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 are forward-looking statements. These statements may
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 1Q2021 Highlights……………………………...……………………………………………………….....9 Financial Results through March 31, 2021….....…………………………………………………….15 Ongoing Strategic Focus……………………………………………………………………………….20 Appendix A: Historical Information………………………
Slide 5: First US Bancshares, Inc.
FIRST US BANCSHARES, INC. = Company Founded: 1952 = Tangible BV: $12.81 per share "Headquarters: Birmingham, AL = Exchange NASDAQ: FUSB = First US Bank 19 Branches ("! /2 LPOs = Stock Price $9.30 "Acceptance Loan Co: 20 Branches "Price to TBV: 72.6% = Total Assets: $927 million = Market Cap: $57.8 m
Slide 6: Corporate Profile: Senior Leadership Team
Corporate Profile Senior Leadership Team 6
Slide 7: First US Bank – Branch and LPO Location Map
7 Corporate Profile: First US Bank – Branch and LPO Location Map
Slide 8: Acceptance Loan Company – Branch Location Map
8 Corporate Profile: Acceptance Loan Company – Branch Location Map
Slide 9: 1Q2021 Highlights: Net income $1.0 million, diluted EPS $0.14
9 Net income of $1.0 million and diluted EPS of $0.14 Diluted EPS down $.01 compared to 4Q2020 due to two fewer accrual days Diluted EPS up $.01 per diluted share from 1Q2020 due to increase in net interest income, and non-interest expense savings 19-basis point decrease in net interest margin compa
Slide 10: Loan Growth of $20.4 million driven by Indirect Sales, Construction and CRE
1Q2021 Highlights Loan Growth of $20.4 million driven by Indirect Sales, Construction and CRE 10
Slide 11: A Focus on the Indirect Sales Portfolio
1Q2021Highlights A Focus on the Indirect Sales Portfolio 11 Indirect Sales by Collateral as of 3/31/2021 Indirect Sales by State as of 3/31/2021(1) (1) Represents state in which the participating dealer operates
Slide 12: A challenging interest rate environment continues
1Q2021 Highlights A challenging interest rate environment continues 12 (1) Average Rate on Interest-Bearing Liabilities and Non-Interest-Bearing Deposits
Slide 13: An uptick in charge-offs, but remain at historically low levels
1Q2021 Highlights An uptick in charge-offs, but remain at historically low levels 13 ALLL as a % of loans as of June 30, 2020; September 30, 2020; December 31, 2020; and March 31, 2021 excludes PPP loans, which are guaranteed by the SBA
Slide 14: Continued reduction in loans in COVID-19 deferment status
14 1Q2021 Highlights Continued reduction in loans in COVID-19 deferment status
Slide 15: Selected Financial Data
15 Financial Results Selected Financial Data (1) Calculations of tangible balances and measures are included in Appendix B (2) Efficiency ratio = non-interest expense / (net interest income + non-interest income)
Slide 16: Income Statements
Financial Results Income Statements (dollars in thousands, except per share data) 16
Slide 17: Selected Balance Sheet Information
Financial Results Selected Balance Sheet Information (dollars in thousands) 17
Slide 18: Net Interest Margin
18 Financial Results Net Interest Margin
Slide 19: Regulatory Capital: Shift downward due to deposit and loan growth
Financial Results Regulatory Capital: Shift downward due to deposit and loan growth 19
Slide 20: Ongoing Strategic Focus: Near term and longer term objectives
20 Near term: Expand and diversify loan portfolio while maintaining credit and pricing discipline Continue to reprice deposit products consistent with interest rate environment Continue to evaluate the pandemic’s impact on earning asset categories and other revenue sources Maintain focus on expense
Slide 21: Building and Maintaining a Diversified Balance Sheet
Ongoing Strategic Focus Building and Maintaining a Diversified Balance Sheet 21
Slide 22: A Favorable Geographic Footprint
22 Ongoing 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: M
Slide 23: Appendices
FIRST US BANCSHARES, INC. Appendices
Slide 24: Earnings challenged in Q2 and Q3 in wake of COVID-19
24 Earnings challenged in Q2 and Q3 in wake of COVID-19 pandemic and margin compression Diluted EPS of $0.40 in 2020, compared to $0.67 in 2019 Net income of $2.7 million in 2020, compared to $4.6 million in 2019 Net interest income decreased by $1.2 million in 2020 49-basis point reduction to net i
Slide 25: Appendix A – Historical Information: loan growth and deposits
Appendix A – Historical Information 17.1% loan growth in 2020 helped to deploy significant increases in deposits 25
Slide 26: Indirect Sales Lending: Growth following transfer to Bank
Appendix A – Historical Information Indirect Sales Lending: Growth of $96 million following transfer to Bank Portfolio transferred from ALC to Bank, effective January 1, 2020 Marketing efforts enhanced under First US Bank brand Benefited from leisure activity choices during pandemic Growth enhances
Slide 27: Bringing COVID-19 At-Risk Loan Categories into Focus
Appendix A- Historical Information Bringing COVID-19 At-Risk Loan Categories into Focus 27
Slide 28: Committed to Sound Credit Policies
Appendix A – Historical Information Committed to Sound Credit Policies Total Classified Assets 28 $74.5 million reduction in classified assets since 2011 Nonperforming Assets reduced from peak of $47 million to $3.5 million as of 3/31/2021 Nonperforming Assets as a % of Total Assets reduced from 5.7
Slide 29: Modernized Technology While Maintaining Cost Discipline
Appendix A – Historical Information Modernized Technology While Maintaining Cost Discipline Cost-neutral positioning maintained while redeploying dollars to rebuild infrastructure and expand product offerings Increased expense beginning in 2018 due to acquisition of The Peoples Bank ALC adds substan
Slide 30: Income Statements Annual Comparison
Appendix A – Historical Information Income Statements Annual Comparison (dollars in thousands, except per share data) 30
Slide 31: Selected Balance Sheet Information – Annual Comparison
Appendix A – Historical Information Selected Balance Sheet Information – Annual Comparison (dollars in thousands) 31
Slide 32: Share Price vs. Tangible Book Value
Appendix A – Historical Information Share Price vs. Tangible Book Value (73% as of 3/31/2021)(1) 32 (1) Calculations of tangible balances and measures are included in Appendix B
Slide 33: Appendix B Non-GAAP Reconciliation
33 Appendix B 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 34: Appendix B Non-GAAP Reconciliation
34 Appendix B Non-GAAP Reconciliation (dollars and shares in thousands, except per share data)
Slide 35: 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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