Bryn Mawr Bank — Q3 2020 Earnings Presentation
14 slides from Bryn Mawr Bank's earnings presentation, Oct 23, 2020
Slide 1: Third Quarter 2020 Earnings Review
Third Quarter 2020 Earnings Review Frank Leto Mike Harrington Liam Brickley President and Chief Financial Officer Chief Credit Officer Chief Executive Officer
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Such forward-lo
Slide 3: Third Quarter 2020 Recap
Third Quarter 2020 Recap ➢ Reported net income of $13.2 million, or $0.66 diluted earnings per share ➢ Wealth, insurance, and capital market businesses continue to produce solid fee income results ➢ Established 15 client service centers within branch network ➢ Continuing to execute on operational an
Slide 4: 3rd Quarter 2020 Results Income Statement
3rd Quarter 2020 Results Income Statement 3Q20 2Q20 % Change $ in thousands, except share and per share data Net interest income $35,032 $37,385 -6% Provision for credit losses on loans & leases 3,641 4,302 -15% Net interest income after provision 31,391 33,083 -5% Noninterest income 21,099 20,566 3
Slide 5: Balance Sheet - Liquidity - Capital
Balance Sheet - Liquidity - Capital Balance Sheet ($ millions) 3Q 2020 Assets 3Q20 2Q20 Assets ▪ Loan portfolio decreased 1.2% between linked quarters Total Assets $5,047 $5,271 ▪ Modest increase to the allowance driven by the Total Portfolio Loans & Leases 3,677 3,722 minor adjustments to our credi
Slide 6: Asset Quality
Asset Quality Net Charge-Offs ($000) 1.00% $4,500 $4,073 Charge-Offs $3,398 • Net charge-offs decreased $1.2 million from the $3,000 second quarter 2020 0.44% $2,187 0.50% $1,324 • Net charge-offs as a percent of average loans $1,500 $400 0.35% and leases decreased 11 basis points between 0.15% 0.04
Slide 7: Loan Portfolio Segments
Loan Portfolio Segments Leases, 4% Other, 1% HELOCs, 5% CRE - Nonowner Occupied, 38% C&I, 13% CRE - Owner- Occupied, 15% Residential Mortgages, 19% CRE - Nonowner Occupied (38%) Leasing Portfolio (4%) Primarily commercial mortgage loans with 83% Pass- ➢ Located in all 50 states and Washington D.C. r
Slide 8: Specialized Sector Exposures
Specialized Sector Exposures Commercial Real Estate-Sector ($000) Size % of Total Loans Avg. Loan Size Avg. LTV Retail $348,128 9.5% $1,642 61.5% Multifamily 290,464 7.9% 1,252 66.0% Flex 237,652 6.5% 1,121 63.7% Office 218,285 5.9% 1,732 68.4% Hospitality 91,140 2.5% 3,376 62.7% CRE Sector Rating L
Slide 9: Deferral & Classified/Criticized Loan Summary
Deferral & Classified/Criticized Loan Summary % in Deferral as of % in Deferral as of Loan Category June 30, 2020 September 30, 2020 Commercial & Industrial 17% 7% Construction 10% 4% Consumer 1% 0% CRE - Nonowner-Occupied 28% 13% CRE - Owner-Occupied 29% 10% HELOC 3% 2% Residential 13% 8% Leases 16
Slide 10: COVID-19 Deferrals – All Loan Types
COVID-19 Deferrals – All Loan Types • Loan balances are based on actual 9/30/2020 principal balances • Deferral information is based on actual approved and/or executed deferral agreements and management’s expectations about re-deferrals of certain loans on first deferral as of 9/30/2020. Deferral in
Slide 11: COVID-19 Deferrals – All Loan Types
COVID-19 Deferrals – All Loan Types • Loan balances are based on actual 9/30/2020 principal balances • Deferral information is based on actual approved and/or executed deferral agreements and management’s expectations about re-deferrals of certain loans on first deferral as of 9/30/2020. Deferral in
Slide 12: COVID-19 Deferrals – Nonowner-Occupied CRE
COVID-19 Deferrals – Nonowner-Occupied CRE • Loan balances are based on actual 9/30/2020 principal balances • Deferral information is based on actual approved and/or executed deferral agreements and management’s expectations about re-deferrals of certain loans on first deferral as of 9/30/2020. Defe
Slide 13: Non-GAAP Reconciliation
Non-GAAP Reconciliation As of or For the Three Months Ended $ thousands September 30, 2020 June 30, 2020 Reconciliation of Net Income to Net Income (core): Net income attributable to BMBC (a GAAP measure) $ 13,164 $ 15,035 Less: Tax-effected non-core noninterest income: Gain on sale of PPP loans - (
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation As of or For the Three Months Ended $ thousands September 30, 2020 June 30, 2020 Calculation of tangible book value per common share: Total shareholders' equity $ 612,617 $ 603,674 Less: Noncontrolling interest 767 727 Less: Goodwill and intangible assets (200,445) (201,315)