First Century Bankshares — Investor Presentation (April 2010)
13 slides from First Century Bankshares's investor presentation, Apr 29, 2010
Slide 1: First Century Bankshares, Inc.
Slide 2: At a Glance
At a Glance At a Glance Headquarters in Bluefield, WV Assets: $408 million Founded in 1891 Banking operations in WV and VA ° 12 banking offices ° 17 ATM’s Trust Division with $294 million in assets under management
Slide 3: Branch locations
Wytheville Branch locations Oceana
Slide 4: 5-year Summary
5-year 5-year Summary Summary ** U.S. Banker (2006-2008) voted First Century Bank in the Top 200 Community Banks on ROAE at 10.70% 2005 2006 2007 2008 2009 Per Share Data Net Income $2.02 $2.28 $2.39 $1.93 $0.17 Cash Dividend $1.00 $1.05 $1.10 $1.11 $0.96 Book Value $18.36 $19.58 $21.16 $21.74 $20.7
Slide 5: Weakened economy
Weakened economy Weakened borrowers Unsettled financial industry High regulatory scrutiny New administration/shifting political agenda Health Care Reform Regulatory Reform - ( Consumer Financial Protection Agency (CFPA)) Changing rules ° Banking ° Tax
Slide 6: Earnings 2009 2008
EARNINGS 2009 2008 Net Income $315,000 $3,685,000 ROA 0.07% 0.85% ROE 0.76% 8.96% FDIC Assessments $890,000 $55,000 Net Charge-offs $3,825,000 $214,000 Additions to Allowance $1,635,000 $235,000 ALLL to Total Loans 1.51% 0.91% Total Allowance $4,325,000 $2,690,000 Total Risk-based Capital (RBC) $40,
Slide 7: First Century has a strong capital position
First Century has a strong capital position Minimum to be considered Actual “Well Capitalized” Tier 1 Capital to Avg. Assets 8.92% 5.00% Tier 1 Capital to Risk Weighted Assets 12.31% 6.00% Total Capital to Risk Weighted Assets 13.56% 10.00% Data as of 12/31/09
Slide 8: Trust Assets
TRUST ASSETS $334 S341 $294 $267 | | PZ 2005 2006 2607 2008 2009
Slide 9: FDIC insurance limits increased to $250,000
FDIC insurance limits increased to $250,000 through 12/31/13. Transaction Account Guarantee Program – all noninterest-bearing transaction accounts (checking accounts) insured through 12/31/10. FCB voluntarily opted to continue this coverage to benefit our customers.
Slide 10: FDIC assessments and credits
Because of the age of the bank, credits allowed expense to remain lower in 2008 – total $55,000. One-time assessment was an additional $200,000 in addition to higher assessments in 2009. Total assessments for 2009 $890,000.
Slide 11: Anticipate limited growth opportunities in 2010
Anticipate limited growth opportunities in 2010 Use a three year focus as a bridge through the recovery Maintain a pattern of selective growth over the near term as the market strengthens Focus on infrastructure improvement ° Efficiency ° Staffing study ° Current market penetration Aggressively cons
Slide 12: Our vision
Our vision will be that we provide a fair and consistent return for you, our shareholders. Our focus continues to be on three critical areas ° Asset Quality ° Liquidity ° Capital
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