Annual Meeting of Stockholders Tuesday, May 24, 2016

Transcription

1 Annual Meeting of Stockholders Tuesday, May 24, 2016

2 Forward-Looking Statements This presentation may contain forward-looking statements regarding Pilgrim Bancshares, Inc. ( Pilgrim or the Company ). These statements constitute forward-looking information within the definition of the Private Securities Litigation Reform Act of Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forwardlooking terminology, such as may, will, believe, expect, estimate, anticipate, continue, or similar terms or variations on those terms, or the negative of those terms. Forward- looking statements are subject to numerous risks, as described in our SEC filings, and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operated, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed about could affect the Company s financial performance and could cause the Company s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

3 2015 Highlight Summary Net Income of $654,000 or $0.31 per share Total Assets $210.5 MM, up 12.0% vs. 12/31/2014 Loan growth of $26.8 million, or 18.5% to $171.3million Deposit growth of $18.4 million, or 12.2% to $169.4 million ROA 0.34% ROE 2.04%

4 2016 Q1 Highlight Summary Net Income of $156,000 or $0.08 per share compared to $101,000 or $0.05 per share for Q Total Assets $219.7 MM, up 17.5% (annualized) vs. 12/31/2015 Loan growth of $9.0 million, or 21.2% (annualized) to $179.5 million Deposit growth of $9.5 million, or 22.5% (annualized) to $178.9 million ROA 0.29% ROE 1.96%

5 $ in MMs $ in MMs Asset Growth $225.0 Total Assets $219.7 $200.0 Loans $210.5 $180.4 $175.0 $171.3 $200.0 $188.0 $188.3 $150.0 $144.5 $151.3 $175.0 $171.6 $133.7 $125.0 $ /31/ /31/2014 3/31/ /31/2015 3/31/2016 $ /31/ /31/2014 3/31/ /31/2015 3/31/2016

6 Loans ($ 000s) 12/31/ /31/2014 Real estate loans: 1-4 Family residential (incl. Purchased Loans) $ 104,861 $ 96,440 Commercial 21,848 17,401 Multi-family 16,559 10,171 Home equity lines of credit 2,093 2,854 Construction 18,755 12,072 Commercial and industrial loans 3,964 3,012 Consumer loans 3,080 2, , ,417 Net deferred loan origination fees, costs and discounts Allowance for loan losses (886) (743) Net loans $ 170,427 $ 143,774 Home equity lines of credit 1% Construction 11% Construction 8% Home equity lines of credit 2% Multifamily 7% Commercial 12% Commercial and industrial loans 2% Multifamily 10% Commercial 13% Commercial and industrial loans 2% 12/31/15 12/31/ Family residential (incl. Purchased Loans) 61% 1-4 Family residential (incl. Purchased Loans) 67% Consumer loans 2% Consumer loans 2%

7 Construction Loans 31-Dec Dec-14 ($ 000s) 1- Family Spec $ 11,656 $ 7,111 Multi-Family 2,924 1,804 Commercial / Land Development 2, Investment Property 1,123 - Commercial / Other Owner Occupied Res. Constr. - 1,450 Land 1, $ 18,755 $ 12,072 Investment Property 6% 12/31/15 12/31/14 Land 5% Land 6% Commercial / Land Development 11% Commercial / Other 1% Owner Occupied Res. Constr. 12% Multi-Family 16% 1- Family Spec 62% Multi-Family 15% 1- Family Spec 59% Commercial / Land Development 7%

8 $ in 000s $ in 000s Non-performing Assets & TDRs $4,000.0 Non-Performing Assets $8,000.0 TDRs $3,000.0 $6,000.0 $5,928 $5,901 $2,352 $4,611 $5,010 $4,975 $2,000.0 $4,000.0 $1,419 $1,417 $1,410 $1,000.0 $2,000.0 $0.0 $16 12/31/ /31/2014 3/31/ /31/2015 3/31/2016 $0.0 12/31/ /31/2014 3/31/ /31/2015 3/31/2016

9 Deposits Brokered CDs 4% 12/31/15 Noninterest bearing demand 9% 12/31/14 Certificates of Deposits 47% NOW acounts 13% Money Market 17% Savings 12% Certificates of Deposits 44% Noninterest bearing demand 9% NOW acounts 14% Money Market 22% Savings 11%

10 $ 000s $ 000s $ 000s Income Statement $0.12 $0.10 $0.08 $0.06 $0.04 Earnings Per Share $0.10 $0.10 $0.06 $0.05 $0.08 $1,600 $1,500 $1,400 $1,300 $1,200 Net Interest Income (TEA Basis ) $1,513 $1,533 $1,521 $1,437 $1,361 $1,242 $0.02 $- na Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 $1,100 $1,000 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 $300 $200 $100 $- $(100) $(200) $(300) $(400) $(500) $(600) $(551) Net Income $203 $216 $101 $134 $156 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 ' % 3.30% 3.20% 3.10% 3.00% 2.90% 2.80% 2.70% 2.60% 2.50% Net Interest Margin 3.30% 3.22% 3.17% 3.06% 3.01% 2.89% Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16

11 Operating Expense & Efficiency Ratio 3.00% Operating Expense Ratio 90.00% 87.86% Efficiency Ratio 2.75% 2.80% 2.69% 2.58% 85.00% 81.74% 82.61% 2.50% 80.00% 2.25% 2014 * 2015 Q1 ' % 2014 * 2015 Q1 ' % 87.00% 2.75% 82.00% 2.50% 77.00% 2.25% Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 ' % Operating Expense Ratio Efficiency Ratio * Excludes contribution to Pilgrim Bank Foundation

12 Questions?

13 Annual Meeting of Stockholders Tuesday, May 24, 2016