Bank Ozk · NASDAQ:OZK
Bank Ozk — Bank of the Ozarks — Merger or Acquisition (May 2015)
8 slides from Bank Ozk's merger presentation, May 6, 2015
Slide 1: Acquisition of Bank of the Carolinas Corporation
Exhibit 99.2 Acquisition of Bank of the Carolinas Corporation May 6, 2015
Slide 2: Forward Looking Information
Forward Looking Information CAUTION ABOUT FORWARD-LOOKING STATEMENTS This communication contains certain forward-looking information about Bank of the Ozarks, Inc. (the “Company”) and Bank of the Carolinas Corporation (“BCAR”) that is intended to be covered by the safe harbor for “forward-looking st
Slide 3: Transaction Overview
Transaction Overview 1 The purchase price may be adjusted downward to the extent, among other things, BCAR’s consolidated net book value at closing (as adjusted) falls below $45,500,000.The exchangeratio will be basedon OZRK’sten-day averageclosingprice as of the second businessday prior to closingr
Slide 4: Complementary Strategic Acquisition
Complementary Strategic Acquisition 1 Amounts based on OZRK’s unaudited consolidated financial information as of March 31, 2015. 2 Obtained from BCAR’s unaudited consolidated financial information as of March 31, 2015.
Slide 5: Significant Expansion of North Carolina footprint
Significant Expansion of North Carolina footprint • Addition of three metro-Charlotte area branches, eliminating the need for three future de novobranches • Addition of five branches in the Piedmont Triad region • Expansion in these markets via acquisition is much more cost-effective than expansion
Slide 6: Complementary Franchise
Complementary Franchise Complements our existing presence in North Carolina Increases our presence from 16 branches to 24 branches in North Carolina Efficient manner to expand in Charlotte MSA compared to de novobranching OZRK had long-term plans to expand through de novo branching in the Charlotte
Slide 7: Key Assumptions
Key Assumptions _ | Cost Savings Purchase Accounting Assumptions Merger Related Costs * Expected non-interest expense savings of 20%-25% in first 12 months; 35%-40% thereafter * Expected to recapture approximately $11-512 millionin deferred tax asset * Expected loan mark of approximately 5.5% of tot
Slide 8: Summary
Summary Proforma total assetsof $8.6billion1 Immediately accretive to book value and tangible book value Increases our presence in North Carolina, including addition of several markets with significant growth potential Thirteenth acquisition by OZRK since March 2010 OZRK continues to actively pursue
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