Eagle Bancorp, Inc. · NASDAQ:EGBN
Eagle Bancorp — Merger or Acquisition (June 2014)
12 slides from Eagle Bancorp's merger presentation, Jun 10, 2014
Slide 1: Announces the Acquisition of a High Performing Community Bank
Ticker: EGBN www.eaglebankcorp.com Announces the Acquisition of: June 9, 2014 A High Performing Community Bank in Strategic Growth Market
Slide 2: Forward Looking Statements
1 Forward Looking Statements: This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Eagle’s operations and policies
Slide 3: Transaction Summary
2 Transaction Summary David P. Summers will join the board of Eagle Bancorp, Inc. and EagleBank Deal Structure Consideration Due Diligence Contingencies Timing Board Additions Approval by Virginia Heritage Bank shareholders Customary regulatory approval Comprehensive due diligence process completed;
Slide 4: Transaction Perspective
3 Transaction Perspective High performing bank with strong credit quality Solidifies Eagle as the largest community bank in the Washington D.C. metro area, with opportunity for continued growth in Northern Virginia Seasoned management with expanded local knowledge Similar operating styles and cultur
Slide 5: Combining Two High Performing Banks
4 Combining Two High Performing Banks Note 1: Core income excludes extraordinary items, non-recurring items and gains/losses on sale of securities Source: SNL Financial; financial data as of or for the most recent quarter available; profitability data for the last 12 months ended March 31, 2014 Eagl
Slide 6: Overview
5 Virginia Heritage Bank Overview Growing community bank in Eagle’s target market Six branches in Northern Virginia Attractive demographic trends Growing market of small and medium sized businesses Exceptional asset quality Outstanding organic growth All growth accomplished through de novo branches
Slide 7: Increased Market Share in Region
6 Increased Market Share in Region Pro Forma Northern Virginia Deposit Market Share Pro Forma DC Metropolitan Area Deposit Market Share Washington, D.C. Metro Area: MD- Montgomery and Prince George's; DC - Washington DC; VA - Arlington, Alexandria, Fairfax, Fairfax (City), Falls Church, Loudon, Prin
Slide 8: Pro Forma Footprint
7 Pro Forma Footprint Eagle Bancorp, Inc. Virginia Heritage Bank Acquisition materially accelerates goal of expansion in Northern Virginia Virginia branches provide opportunities for consolidation
Slide 9: Pro Forma Financial Impact
8 Pro Forma Financial Impact Approximately 75% stock / 25% cash split in consideration Gross credit mark on loans of 1.60% Fair market value adjustments applied to loans, deposits and borrowings Cost savings of ~35% of G&A expenses 75% phased in for 2015 Fully phased in by 2016 Transaction expenses
Slide 10: Combined Loan & Deposit Composition
9 Combined Loan & Deposit Composition Note 1: Excludes loans held for sale Company data as of March 31, 2014 Virginia Heritage Bank Eagle Bancorp, Inc. Combined Total Loans ($ millions) 1 : 726 $ Total Loans ($ millions) 1 : 3,064 $ Total Loans ($ millions) 1 : 3,790 $ Virginia Heritage Bank Eagle B
Slide 11: Transaction Summary
10 Transaction Summary Enhances Eagle footprint in high growth Northern Virginia market Additional Virginia branches Pro forma number 12 ranked deposit market share in Northern Virginia Pro forma number 10 ranked deposit market share in Washington, D.C. metro area Demonstrated quality loan growth is
Slide 12: Awards and Recognition
11 SNL Financial Top 100 Community Banks 2013 Washington Business Journal Top 20 SBA Lender, 2013 #40 of Top 200 Community Banks, 2013 Bauer Financial Five Star Rated, 2013 Virginia Heritage Bank – An Honor Roll Company