First Mid Bancshares, Inc. · NASDAQ:FMBH
First Mid Bancshares — Merger or Acquisition (July 2021)
16 slides from First Mid Bancshares's merger presentation, Jul 29, 2021
Slide 1: Enhancing our position and scale in greater St. Louis
July 29, 2021 First Mid Bancshares, Inc. Nasdaq: FMBH Strategically continuing to enhance our position and scale in the greater St. Louis area with acquisitions of: Delta Bancshares Company + Loan Book & Team Lift Out
Slide 2: Forward Looking Statements
Forward Looking Statements Forward Looking Statements This document may contain certain forward - looking statements about First Mid and Delta, such as discussions of First Mid’s and Delta’s pricing and fee trends, credit quality and outlook, liquidity, new business results, expansion plans, anticip
Slide 3: Important Information
Important Information 3 Important Information about the Merger and Additional Information First Mid will file a registration statement on Form S - 4 with the SEC in connection with the proposed transaction. The registration statement will include a proxy statement of Delta that also constitutes a pr
Slide 4: Combined acquisitions enhance First Mid's presence in greater St. Louis area
Combined acquisitions enhance First Mid’s presence in the greater St . Louis area and creates a $ 6 . 8 billion asset Midwest Community Bank with a rich history and deep community ties Accelerates growth in the St . Louis metro market consistent with our long - standing strategic initiative with exp
Slide 5: Delta Bancshares Company Overview
Company Overview • Headquartered in St . Louis, Missouri • ~ $ 700 million in assets • Jefferson Bank and Trust Company was chartered in 1892 and remains one of the oldest banks in St . Louis • 5 Branch locations situated in the St . Louis metro area • Seasoned management team with similar credit cu
Slide 6: Delta transaction terms
• Delta shareholders approval • Anticipated closing in late Q4 2021 • Subject to customary regulatory approvals • Satisfaction of other closing conditions • A g g r e g a t e T r a n sac tion V al ue ( 1) o f $ 1 0 6 . 3 million • Consideration mix: 86% stock / 14% cash • First Mid to issue approxim
Slide 7: Strategic lift-out of loan book and team
The strategic lift - out of another loan book and team in the greater St. Louis area immediately strengthens First Mid’s presence in the St. Louis Metro market. The deal includes approximately $225 million in loans, approximately $280 million in deposits and a talented team of 4 lenders. Overview Hi
Slide 8: Pro Forma Franchise
Pro Forma Franchise 8 First Mid Bank & Trust First Mid Loan Production Jefferson Bank and Trust Company First Mid Bank & Trust and Jefferson Bank and Trust Company currently operate a combined 74 locations throughout Illinois, Missouri, Texas, and Indiana. Clusters of branches are located in and aro
Slide 9: St. Louis MSA Market Highlights
9 St. Louis MSA Market Highlights St. Louis MSA Overview Major Employers in St. Louis Market Demographics Pro Forma Deposit Market Share • St. Louis is the largest MSA in Missouri and ranks as the 4 th largest MSA in the Midwest by population size (over 2.8 million people) • 11 Fortune 1000 Companie
Slide 10: Financial and Regulatory Capital Impact
First Full - Year EPS Accretion: ~14% 10 Estimated Financial Impact of Transactions TBV earn - back: 1.8 years Estimated Cost Savings: 30% Estimated One - Time Costs: $ 5.1M Pro Forma Regulatory Capital Impact of Transactions Tier 1 Leverage Ratio: ~ 8 . 8 % CE T 1 R a t i o: ~ 1 0.1% Tier 1 RBC Rat
Slide 11: Extensive Due Diligence Process
11 Extensive Due Diligence Process First Mid is an experienced and disciplined acquirer of community banks with a long history and successful track record of both growth and earnings First Mid’s Senior Management team completed multiple thorough diligence sessions with the Delta and lift out teams d
Slide 12: Disciplined and Experienced Acquiror
12 Lift Out Lift Out T r ansa c ti o n Date Closed 8 / 1 4 /15 Closed 9 / 0 8 /16 Closed 5 / 0 1 /18 Closed 1 1 /1 5 /18 Closed 4/21/2 0 Closed 2 / 2 2 /21 A n n o u n c ed 7/29/21 A n n o u n c ed 7/29/21 T r ansa c ti o n Value $16 Million $89 Million $72 Million $70 Million - - - $161 Million - -
Slide 13: Summary
Strategic in - market transactions that enhance and complement our existing presence in the attractive St. Louis market 13 Financially compelling transactions with estimated combined double digit EPS accretion in first full - year and TBV earn back of 1.8 years Low - risk transactions as a result of
Slide 14: Deposit composition
Non - interest Demand I n te r e s t - b e a r i n g D e m a n d Savings M on e y M a r k e t Retail Time 1,157,009 1,418,717 598 , 23 2 842 , 77 1 536 , 81 0 24 . 4 % 29 . 9 % 12 . 6 % 17 . 8 % 11 . 3 % Composition Deposit Type ($000) % of Total Non - interest Demand I n te r e s t - b e a r i n g
Slide 15: Loan composition
1,480,198 864,554 394,902 400,463 141,568 274,910 84,541 39 . 0 % 22 . 8 % 10 . 4 % 10 . 5 % 3 . 7 % 7 . 2 % 2 . 2 % CRE C&I 1 - 4 Family F a r m & A g RE C&LD M u l t i f a m il y Consumer Other Total 267 , 82 7 101 , 06 5 2,979 123 , 46 3 100 , 85 4 2,015 1,871,488 1,066,474 399,896 400,463 156,63
Slide 16: First Mid Bancshares awards
=a First Mid BANCSHARES, INC. SUPERIOR CENTRAL/SOUTHERNIL =: KAMERIC A'S IAT 100nGhES RATING Somashy sromme BEST SSunnny wok BANKS BANKS —8885- BANKS PARTNERS IN EXCELLENCE PRESIDENT'S ae AWARDS OF THE YEAR Est 80 z 6 -newronse
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