Pathward Financial Results Presentation Deck
LEGACY COMMUNITY BANK | HOTEL PORTFOLIO
AS OF MARCH 31, 2021 | SERVICED BY CENTRAL BANK
$191.4 million outstanding, total exposure of $194.4 million including unfunded commitments
$15.7 million related to construction.
$185.0 million in commercial real estate and $6.4 million in C&I
Portfolio comprised of 28 relationships representing 31 individual hotels and 3,017 total rooms
99% flagged hotel relationships (i.e. Holiday Inn Express, Hampton Inn, Hyatt Place, etc.); 100% limited-service
24% of balances located in South Dakota and lowa with majority of the remaining balances through developers headquartered in
South Dakota and lowa
●
●
●
●
●
●
●
●
COVID-19 Monitoring
Most hospitality loans that were on deferral are back to P&l payments
8 hospitality loans upgraded from watch to pass during the quarter
Active COVID-related deferrals and modifications on $40.8 million in hospitality balances outstanding, working with borrowers on
a case-by-case basis
●
●
Lower unemployment rate in Sioux Falls & Des Moines MSA, relative to National rates sign of stronger local economies
Majority of loans have guarantees by individuals with a strong combined net worth
Average loan-to-value of 60% at March 31, 2021
22
No nonperforming loans as of March 31, 2021
QUARTERLY INVESTOR UPDATE | SECOND QUARTER FISCAL YEAR 2021 | NASDAQ: CASHView entire presentation