Eagle Bancorp Montana, Inc. · NASDAQ:EBMT
Eagle Bancorp Montana — IPO Roadshow (March 2010)
26 slides from Eagle Bancorp Montana's IPO roadshow presentation, Mar 22, 2010
Slide 1: Second Step Conversion and Offering March 2010
Issuer Free Writing Prospectus Dated March 22, 2010 Filed Pursuant to Rule 433 Registration Statement No. 333-163790 Second Step Conversion and Offering March 2010
Slide 2: Offering Summary
Offering Summary Issuer: Eagle Bancorp Montana, Inc. Listing / Ticker: NasdaqGlobal Market / “EBMT”(1) Price Per Share: $10.00 Shares Offered: 2,040,000 –2,760,000(2) Gross Proceeds: $20.4 million -$27.6 million(2) Subscription & Community Results: Yet to be announced Pro Forma Market Value: $33.8 m
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentationcontains forward-looking statements, which can be identified by the use of words such“estimate,” as “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,”“expect” and words of similar meaning. These forward-looking statements include, but are not li
Slide 4: This presentation is for informational purposes only
This presentation is for informational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy shares of common stock of Eagle Bancorp Montana, Inc. The offer is made only by the prospectus, as supplemented. Please refer to the prospectus dated February 16, 2010.
Slide 5: Summary Mechanics of a Second Step Conversion
Summary Mechanics of a Second Step Conversion Structure Following the Current Structure Conversion and Offering EagleFinancial MHC PublicStockholders PublicStockholders (own 60.4% of common stock) (own 39.6% of common stock) (own100%of commonstock) Eagle Bancorp Eagle Bancorp Montana, Inc. American
Slide 6: Rationale for the Conversion and Offering
Rationale for the Conversion and Offering To support continued organic growth in the communities that we serve To bolster our capital position To pursue potential acquisition opportunities To create more liquidity in our common stock 6
Slide 7: Investment Highlights
Investment Highlights Opportunity to invest in a profitable, growing franchise that has been a long-time operator in a stable market area Consistently strong asset quality profile Experienced management team with a demonstrated ability to generate shareholder value Attractive footprint in stable, gr
Slide 8: Corporate Overview
4 EAGLE BANCORP ANA MONT Corporate Overview
Slide 9: Corporate Overview
Corporate Overview American Federal Savings Bank is a federally-chartered savings bank headquartered in Helena, Montana We currently conduct business through seven branches located in Lewis and Clark, Silver Bow, Gallatin and Broadwater counties in Montana • Branches in Helena, Butte, Bozeman and To
Slide 10: Branch Map
Branch Map Corporate & Main Office 1400 Prospect Avenue Helena, MT 59601 Branch Offices Helena Downtown 28 Neill Avenue Helena Skyway 2090 Cromwell Dixon Lane Townsend 416 Broadway Street Bozeman 606 North Seventh Avenue 1455 West Oak Street Butte 3401 Harrison Avenue 10
Slide 11: Market Area Overview
Market Area Overview Headquartered in Helena, Montana’s capital Healthy economic climate • 6.8% unemployment rate in Montana versus 9.7% for the nation • There have been no bank failures in the state of Montana in recent years Stable employment sectors • State and Federal government • Medical / heal
Slide 12: Business Strategy
Business Strategy Continue to diversify our loan portfolio into commercial real estate Attract and retain lower-cost core deposits Expand our franchise through selective acquisitions and branch additions Maintain high asset quality levels Continue to operate as a community-oriented financial institu
Slide 13: Experienced Board & Management
Experienced Board & Management Years at Executive Management Age Title Eagle Peter J. Johnson 52 President and Chief Executive Officer 28 Clinton J. Morrison 39 SVP and Chief Financial Officer 8 Michael C. Mundt 55 SVP and Chief Lending Officer 21 Robert M. Evans 61 SVP and Chief Information Officer
Slide 14: Financial Highlights
B 4 a, EAGLE BANCORP NTANA MO Financial Highlights
Slide 15: Balance Sheet Growth
Balance Sheet Growth Consistent balance sheet growth over the past several years Dollars in thousands $350,000 $306,108 $300,000 $289,709 $279,907 $244,686 $250,000 $226,178 $206,414 $202,223 $187,199 $200,000 $179,647 $172,497 $174,342 $178,851 $150,000 $100,000 $50,000 $0 6/30/2005 6/30/2006 6/30/
Slide 16: Loan Composition
Loan Composition Recent emphasis on higher-yielding commercial products • This initiative has been a key component in driving our margin expansion over the past several years • Margin expanded from 3.06% for the year ended June 30, 2007 to 3.55% for the six months ended December 31, 2009 LoanPortfol
Slide 17: Deposit Composition
Deposit Composition Attractive funding base with checking, savings and NOW accounts representing approximately 42% of total deposits • For the quarter ended December 31, 2009 the combined average cost of deposits was 1.18% Deposit Composition12/31/2009 – Noninterest Checking, 9% Statement Savings, 1
Slide 18: Disciplined Credit Culture
Disciplined Credit Culture Non-Performing Assets / Total Assets 1.60% 1.46% 1.40% 1.20% 1.11% 1.00% 0.80% 0.75% 0.58% 0.60% 0.49% 0.40% 0.43% 0.40% 0.30% 0.24% 0.20% 0.20% 0.09% 0.01% 0.00% 6/30/2005 6/30/2006 6/30/2007 6/30/2008 6/30/2009 12/31/2009 EBMT High Performance Peer Median Credit Quality
Slide 19: Consistent Profitability
Consistent Profitability ROAA ROAE 1.05% 11.00% 1.00% 1.00% 10.00% 10.13% 9.62% 0.95% 0.96% 0.94% 9.78% 0.90% 0.91% 9.00% 9.09% 0.86% 8.74% 8.94% 0.85% 0.83% 0.83% 0.84% 8.25% 8.00% 7.48% 7.88% 0.80% 0.77% 7.24% 0.84% 7.40% 7.41% 0.75% 0.75% 7.00% 0.72% 0.70% 6.00% 6/30/05 6/30/06 6/30/07 6/30/08 6/
Slide 20: Stock Performance and Per Share Information
Stock Performance and Per Share Information
Slide 21: Stock Price Performance Since IPO
Stock Price Performance Since IPO Since our IPO in 2000, we have outperformed both the Nasdaq Bank Index as well as the S&P 500 • Investors who purchased shares of common stock at $8.00 in our IPO have enjoyed a 343% price appreciation in the stock price as well as received $7.00 per share in divide
Slide 22: Strong Track Record of Generating Shareholder Value
Strong Track Record of Generating Shareholder Value Tangible Book Value Per Share $30.00 $28.18 $25.85 $26.00 $23.82 $22.21 $22.00 $20.17 $20.65 $19.42 $19.82 $17.96 $18.00 $16.37 $14.00 $10.00 06/30/01 06/30/02 06/30/03 06/30/04 06/30/05 06/30/06 06/30/07 06/30/08 06/30/09 12/31/09 Earnings & Divid
Slide 23: Use of Proceeds and Capital Management
Use of Proceeds and Capital Management We intend to use the proceeds received in the offering for the following: To support organic growth in the communities and markets we serve To consider, as opportunities arise, acquisitions of other banking institutions in contiguous markets • Montana currently
Slide 24: Offering Information
——_ a EAGLE BANCORP MONTANA Offering Information
Slide 25: Pro Forma Overview
Pro Forma Overview At or for the Three Months Ended September 30, 2009 Based Upon the Sale at $10.00 Per Share of 2,040,000 2,400,000 2,760,000 3,174,000 Shares Shares Shares Shares (Dollars in Thousands, except per share amounts) Gross Proceeds of Stock Offering $20,400 $24,000 $27,600 $31,740 Mark
Slide 26: Attractive Relative Valuation
Attractive Relative Valuation The following information is based on the independent appraisal by Feldman Financial Advisors, Inc. Price/ Core Book Tangible Book Earnings Value Value Minimum 9.8x 72.31% 72.31% Midpoint 11.6x 79.94% 79.94% Maximum 13.5x 86.66% 86.66% Maximum, as Adjusted 15.6x 93.55%