Bcb Bancorp, Inc. (nj) · NASDAQ:BCBP
Bcb Bancorp, Inc. (nj) — BCB Bancorp — IPO Roadshow (September 2015)
29 slides from Bcb Bancorp, Inc. (nj)'s IPO roadshow presentation, Sep 14, 2015
Slide 1: BCB Bancorp, Inc. Follow-on Offering of Common Stock September 2015
BCB Bancorp, Inc. Follow - on Offering of Common Stock September 2015
Slide 2: Presentation disclaimer
This presentation has been prepared by BCB Bancorp, Inc . (“BCB” or the “Company”) solely for informational purposes based on its own information, as well as information from public sources . This presentation has been prepared to assist interested parties in making their own evaluation of BCB and d
Slide 3: Forward-looking statements
This investor presentation, the accompanying prospectus, and the information incorporated by reference herein or therein, may not be based on historical facts and constitute “forward - looking statements” as defined in the Private Securities Litigation Reform Act of 1995 , or the PSLRA . Such forwar
Slide 4: Offering Summary
3 Offering Summary BCB Bancorp, Inc. BCBP / Nasdaq Follow - on Public Offering Common Stock $40 million 15% General corporate purposes, including maintaining liquidity, supporting core business growth, possible early retirement of debt, future acquisitions, funding working capital needs and maintain
Slide 5: BCB Bancorp company overview
4 □ BCB Bancorp, Inc. (“BCB” or the “Company”) is a New Jersey bank holding company and the parent of BCB Community Bank (the "Bank"). The Bank is a $1.5 billion community bank with more than 350 employees headquartered in Bayonne, New Jersey □ Founded as Bayonne Community Bank in 2000, the Company
Slide 6: Investment Highlights
5 □ Consistent historic organic growth • Commercially - oriented lending portfolio that has nearly doubled since 2010 • Loan growth and NIM in excess of peer performance □ Strategic geographic market positioning • Management has deep knowledge of market opportunities • New markets are strategically
Slide 7: Experienced Management Team
6 Experienced Management Team Please see appendix for detailed biographies on the management team. Years Years in with Name Title/Function Banking Company Thomas M. Coughlin President & Chief Executive Officer 28 15 Thomas P. Keating Chief Financial Officer 6 2 Joseph T. Javitz SVP & Chief Lending O
Slide 8: Financial Summary
7 Financial Summary Note: BCB Bancorp does not have any intangible assets and as a result tangible book value is equal to book value, tangible common equit y i s equal to common equity and tangible assets are equal to total assets . Financial information as of June 30, 2015 Total assets: $1,498.1 mi
Slide 9: Growth strategy
8 □ Capitalizing on market dynamics and creating a responsive, customer - centric community bank • We believe consolidation of the banking industry in northeast New Jersey and the greater metropolitan New York area has provided a unique opportunity for a customer - focused banking institution to att
Slide 10: Branch expansion and locations
9 □ 15 current branches • 18 on - site ATMs, 2 off - site □ 4 branches have been opened since 2014 • Colonia and Fairfield opened in 2014, Rutherford and Staten Island opened in 2015 □ Expect to open one branch each quarter during the next 12 months □ Goal is to determine attractive markets for de n
Slide 11: Market Demographics
10 Market Demographics Source: SNL Financial, The Nielsen Company (as of January 2015), and the Bureau of Labor Statistics Bergen County Essex County Hudson County Middlesex County Richmond County New Jersey New York Total population 934,529 792,383 671,392 837,586 474,427 8,945,404 19,763,565 Proje
Slide 12: Core Deposit Market
11 Core Deposit Market 1 - As of June 30, 2014 Branch Deposits as of June 2015 Rank Institution Branches Deposits ($000s) Branch Deposits ($000s) 1 Bank of America Corp. (NC) 11 16,512,424 860 Broadway, Bayonne, NJ 327,353 2 Capital One Financial Corp. (VA) 7 1,296,912 104-110 Ave C, Bayonne, NJ 147
Slide 13: Deposit Portfolio Composition
12 Deposit Portfolio Composition 2010 2011 2012 2013 2014 June 30, 2015 Deposit Type Non-interest bearing $69,471 $78,589 $85,950 $107,613 $127,308 $148,357 NOW & Other Transaction 80,775 112,605 120,765 148,804 155,044 171,497 MMDA & Savings 301,627 333,138 320,603 331,472 333,581 310,681 Certifica
Slide 14: M&A History
13 Pamrapo Bancorp, Inc. Announced: 6/30/2009 – Completed: 7/6/2010 BCB Pamrapo Assets $597 million $592 million Deposits $431 million $434 million Equity $50 million $54 million Purchase Price: $47 million □ Combined two of Hudson County’s community banks to create a market leading bank □ Largest c
Slide 15: Preferred Stock Offerings
14 □ The Company has issued three series of 6.0% Perpetual Preferred Stock since 2012 □ Series A Preferred offering • Completed 12/31/2012 • $8.65 million raised □ Series B Preferred offering • Three rounds – complete 10/31/2013, 2/28/2014 and 3/31/2014 • $4.78 million raised □ Series C Preferred of
Slide 16: Consistent Balance Sheet Growth
15 Consistent Balance Sheet Growth a) Since December 31, 2010. 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 '09 Q3 '09 Q4 '10 Q1 '10 Q2 '10 Q3 '10 Q4 '11 Q1 '11 Q2 '11 Q3 '11 Q4 '12 Q1 '12 Q2 '12 Q3 '12 Q4 '13 Q1 '13 Q2 '13 Q3 '13 Q4 '14 Q1 '14 Q2 '14 Q3 '14 Q4 '15 Q1 '1
Slide 17: Risk Management and Lending Culture
16 □ Building and maintaining core relationships • Focus on key customers • Significant referral network □ Maintenance of strong credit culture • Independent Risk Based Pricing model continues to drive and supports improved credit metrics • Enhanced committee approval and review process • Increased
Slide 18: Loan Portfolio Composition
17 Loan Portfolio Composition Excludes loans held for sale. 2010 2011 2012 2013 2014 June 30, 2015 Loan Type Residential 1-4 $234,435 $218,085 $202,926 $200,334 $207,288 $211,510 Commercial and multifamily 410,212 472,424 588,268 678,122 829,112 983,686 Construction 17,848 17,000 23,310 37,507 73,49
Slide 19: Improving Credit Quality
18 Improving Credit Quality As of or for 6 Months As of or for the year ended December 31, Ended 2010 2011 2012 2013 2014 June 30, 2015 NON-PERFORMING ASSETS Nonaccrual loans $41,811 $47,825 $20,059 $20,565 $19,604 $19,415 90+ Days delinquent accruing – – 2,836 – – – Nonperforming loans 41,811 47,82
Slide 20: Net Interest Margin
19 Net Interest Margin Peers median includes banks and thrifts located in the New York – Newark – Jersey City, NY - NJ - PA MSA with assets between $750 million and $3.5 billion Source: SNL Financial. 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% '12 Q1 '12 Q2 '12 Q3 '12 Q4 '13 Q
Slide 21: Key Operating Metrics
20 Key Operating Metrics 1) Defined as non - accrual loans + 90 past due and still accruing + OREO Peer median includes banks and thrifts located in the New York – Newark – Jersey City, NY - NJ - PA MSA with assets between $750 mil lion and $3.5 billion Note: BCB Bancorp does not have any intangible
Slide 22: Pro Forma Capital and Capital Ratios
21 Pro Forma Capital and Capital Ratios Notes: Assumes a $40 million capital raise, net of estimated underwriting, legal and other fees/costs. Assumes new capital is deployed with a 20% risk weighting ($000s) As of Common As Adjusted June 30, 2015 Offering June 30, 2015 Total assets $1,498,088 $37,2
Slide 23: Investment Highlights Revisited
22 □ Consistent historic organic growth □ Strategic geographic market positioning / attractive core markets □ Reconstructed management team averages over 20 years of experience and is poised to execute on growth prospects □ Current valuation is attractive (current price of at 103% of TBV and 16.2x L
Slide 24: Addendum
Addendum YOUR COMMUNITY BANK
Slide 25: Management biography: Thomas M. Coughlin
24 □ Thomas M . Coughlin – President & Chief Executive Officer – 55 • Thomas M . Coughlin is the Chief Executive Officer and President of BCB Bancorp, Inc . and BCB Community Bank and is the Corporate Secretary of BCB Bancorp, Inc . Mr . Coughlin has been in the banking industry for 28 years . He wa
Slide 26: Management biography: Joseph J. Javitz
25 □ Joseph J. Javitz – SVP & Chief Lending Officer – 57 • Joseph Javitz is the Senior Vice President/Chief Lending Officer of BCB Community Bank. He has been in the banking and financial services industry for more than 31 years. He joined BCB Community Bank in June 2014 as Chief Lending Officer for
Slide 27: Historical and Pro Forma Capital Ratios
26 Historical and Pro Forma Capital Ratios a) Assumes fully phased in capital conservation buffer of 2.5% Notes: Assumes a $40 million capital raise, net of estimated underwriting, legal and other fees/costs. Assumes new capital is deployed with a 20% risk weighting BCB Bancorp does not have any int
Slide 28: Non-GAAP Reconciliation
27 Non - GAAP Reconciliation As of Year Ended December 31, Six Months Ending 2010 2011 2012 2013 2014 June 30, 2014 June 30, 2015 Net Interest Income $26,432 $39,582 $41,700 $46,779 $49,888 $24,308 $26,287 Non Interest Income 14,207 2,448 (7,225) 3,375 3,958 3,338 2,992 Net Revenue $40,639 $42,030 $
Slide 29: Peer Group Detail
28 Peer Group Detail 1) Defined as non - accrual loans + 90 past due and still accruing + OREO 2) Information as of March 31, 2014 Note : BCB Bancorp does not have any intangible assets and as a result tangible book value is equal to book value, tangible common eq uity is equal to common equity and