Investor Presentaiton
4Q'2023 Highlights
Earnings
Balance Sheet
Net income of $594,000 compared to $2.5 million for the linked quarter, and $3.1 million for 4Q'2022
Earnings per share ("EPS") of $0.05 compared to $0.21 for the linked quarter, and $0.27 for 4Q'2022
IN
4Q'2023 results include the impact of a $1.5 million write-down of a nonmarketable equity security carried at
the Company and a $178,000 loss on sale of investment securities at the Bank
Adjusted net income¹ for the quarter was $2.2 million, or $0.19 per share
Quarterly PPNR¹ of $3.2 million, compared to $3.2 million for the linked quarter, and $5.7 million for 4Q'2022
Total deposits increased $115.8 million, or 11.1%, compared to the linked quarter, and increased $97.1 million,
or 9.2%, compared to the same quarter in 2022
Loans held for investment ("HFI") increased $405,000, compared to the linked quarter, and increased $55.4
million, or 6.5%, compared to the same quarter in 2022
Return on average assets ("ROAA") was 0.18%, compared to 0.77% for the linked quarter and 1.01% for 4Q'2022
Adjusted ROAA¹ for the quarter was 0.69%
Profitability
Net interest margin was 3.58%, compared to 3.56% for the linked quarter and 4.43% for 4Q'2022
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Performance Funding costs increased to 1.96%, compared to 1.79% for the linked quarter and 0.55% for 4Q'2022
Core efficiency ratio¹ was 68.9%, compared to 70.0% for the linked quarter and 56.2% for 4Q'2022
1. PPNR, Adjusted Net Income, Adjusted Income per Share, Adjusted ROAA, and Core Efficiency Ratio are non-GAAP measures, see reconciliation table elsewhere in this presentation
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