2018 Annual Shareholder Meeting Annual Shareholder... · 2020-04-15 · 2019 Highlights • CBT is...
16
Click to edit Master title style Click to edit Master subtitle style 2020 Annual Shareholder Meeting April 20, 2020
Transcript of 2018 Annual Shareholder Meeting Annual Shareholder... · 2020-04-15 · 2019 Highlights • CBT is...
Click to edit Master title style
Click to edit Master subtitle style
2020 Annual Shareholder Meeting
April 20, 2020
Click to edit Master title style
Click to edit Master subtitle style
Don WalsworthChairman
Page 2
Citizens Bancshares Directors• Don Walsworth, Chairman• Roger Arwood, CEO• Spencer Cohn• Edward Douglas• James Gegg• Gene Millard• David Neal• W.L. “Barry” Orscheln• Patrick Thorne• Don Walsworth, Jr.• William Young
Page 3
Click to edit Master title style
Click to edit Master subtitle style
Jon ApplebyChief Financial Officer
Page 4
2019 Actual 2018 ActualFavorable/
(Unfavorable)Summary Income StatementInterest Income 34,773 32,486 2,287 Interest Expense (7,859) (6,869) (990)
Net Interest Income 26,914 25,617 1,297 Fee Income 8,982 8,812 170 Non-Interest Expense (27,891) (26,501) (1,390)Loan Loss Provision (120) (107) (13)Net Forclosed Real Estate Expense (76) 6 (82)Gain/(Loss) on Sale 334 (526) 860
Pre Tax Income 8,143 7,301 842 Taxes (1,930) (1,463) (467)
Net Income 6,213 5,838 375
Selected RatiosNet Interest Margin (Bank) 3.58% 3.42% 0.16%ROA 0.73% 0.68% 0.05%ROE 6.90% 7.26% -0.36%
Page 5
2019 Actual 2018 Actual $ Change % ChangeSummary Balance SheetCash 96,893 20,987 75,906 361.7%Securities 139,256 148,127 (8,871) -6.0%Total Loans 600,133 609,387 (9,254) -1.5%Allowance for Loan Loss (6,566) (7,485) 919 -12.3%ORE/OPE 7,744 7,010 734 10.5%Other Assets 60,108 57,635 2,473 4.3%
Total Assets 897,568 835,661 61,907 7.4%DDA 145,891 120,475 25,416 21.1%NOW Accounts 154,941 158,782 (3,841) -2.4%MMDA/Savings 124,540 110,038 14,502 13.2%Public Funds 96,215 81,617 14,598 17.9%Time Deposits 246,361 194,224 52,137 26.8%
Total Deposits 767,948 665,136 102,812 15.5%Repo Agreements 15,453 19,748 (4,295) -21.7%FHLB Borrowings 0 49,080 (49,080) -100.0%Subordinated Debt 12,500 12,500 0 0.0%Other Liabilities 7,895 3,703 4,192 113.2%Capital 93,772 85,495 8,277 9.7%
Total Liabilities & Capital 897,568 835,661 61,907 7.4%
Selected RatiosGross Loans / Deposits 78.15% 91.62% -13.47%Allowance / Gross Loans 1.09% 1.23% -0.13%Capital / Assets 10.45% 10.23% 0.22%Non-Performing Loans/Loans 0.31% 0.06% 0.24% Page 6
Shareholder Equity
1573,727 shares are non-voting.
12/31/2019 12/31/2018 ChangeCommon Equity (in 000’s) 92,861 86,970 5,891 Intangible Assets (2,791) 0 (2,791)Net Tangible Book Value 90,070 86,970 3,100
Net Tangible Book Value per Share $38.38 $37.06 $1.32 Share Count1 2,346,915 2,346,915 0
Page 7
Regulatory CapitalCitizens Bancshares Co Citizens Bank & Trust
(in 000's) 12/31/2019 12/31/2018 12/31/2019 12/31/2018Total Equity $93,772 $86,970 $100,251 $95,235 Tier 1 Disallowances (8,074) (6,064) (125) (2,031)
Total Tier 1 Capital $85,698 $80,906 $97,335 $93,204
Tier 1 Capital Ratio 9.99% 9.88% 11.34% 11.38%Risk Based Capital Ratio 14.78% 14.46% 14.66% 14.44%Common Equity Tier 1 Ratio 12.09% 11.60% 13.73% 13.36%
Well Capitalized:Tier 1 Capital Ratio 5.00% 5.00%Risk Based Capital Ratio 10.00% 10.00%Common Equity Tier 1 6.50% 6.50%
Page 8
Roger ArwoodChief Executive Officer
Page 9
2019 Highlights• CBT is a high-quality bank delivering high-quality banking and financial service
experiences
• CBC Net Income After Tax of $6.2 million
• Retail Deposits of $661 million were up $49 million
• Acquisition of Summit Bank completed successfully in August
• CBT and CBC both earned excellent regulatory examination results in 2019
• RSM financial statement audit of CBC for 2019 was unqualified and had noexceptions
• Continued our momentum of CBT Leading Financial Literacy marketplaceeducation
Page 10
COVID-19 Environment• Capital and Liquidity positions provide a strong
foundation for managing through economicdownturn
• Priorities:1. Health and safety of our CBT Team2. Provide excellent client service3. Keep CBT strong by conserving bank resources
• Successful rollout of PPP participation for CBT clients• Successful transition to remote workforce• Drive-throughs remain open, limited lobby access• Assess impact and revise our plans in 2Q2020
Page 11
Don WalsworthChairman
Page 13
Election Results
Page 14
Board Meeting to Follow
Page 15
Page 16
