Beacon Financial Corporation · NYSE:BBT
Beacon Financial — Berkshire Hills Bancorp — Merger or Acquisition (October 2011)
8 slides from Beacon Financial's merger presentation, Oct 26, 2011
Slide 1: Acquisition of The Connecticut Bank and Trust Company
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm Acquisition of The Connecticut Bank and Trust Company Growing America’s Most Exciting Bank SM October 25, 2011
Slide 2: Merger Summary
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm Merger Summary • Berkshire to acquire CBT in transaction valued at approximately $ 29.5 million or $ 7.90 per share • Consideration will be 70% Berkshire stock and 30% cash • Stock exchange ratio fixed at 0.3810 Ber
Slide 3: Logical Expansion In Attractive Markets
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm Rome Pittsfield Albany Manchester Center Springfield Hartford Boston Providence Logical Expansion In Attractive Markets 2 BHLB CBT Pro Forma Branches 63 8 71 Median HHI $51,292 $65,598 $52,279 Projected HHI Growth 1
Slide 4: Strategic Benefits
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm Strategic Benefits • CBT is a contiguous expansion of the growing Berkshire franchise, with a size that can be readily assimilated (about 6% of pro forma assets). • The 8 CBT branches will combine with the 12 Berksh
Slide 5: Pro Forma Financial Benefits
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm Pro Forma Financial Benefits • Core EPS accretion of 3 cents in 2012 before net deal costs. Future accretion expected to benefit from revenue synergies and regional expansion. • Transaction internal rate of return i
Slide 6: CBT Financial Profile
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm CBT Financial Profile 5 Source: SNL 2009 FY 2010 FY 2011 FQ2 YTD Balance Sheet ($000) Total Assets 260,254 274,231 283,277 Gross Loans Held for Investment 200,780 223,723 223,130 Loan Loss Reserve 2,702 3,381 3,404
Slide 7: CBT Loan and Deposit Composition
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm CBT Loan and Deposit Composition – Attractive Commercial Lending Strategy and Deposit Base 6 Source: SNL. Data as of June 30, 2011. Deposit Composition Loan Composition Total: $223.6 mm Cost: 0.85% MMDA & Savings 35
Slide 8: Forward Looking Statements
BERKSHIRE HILLS BANCORP - BHLB www.berkshirebank.com America’s Most Exciting Bank sm 7 FORWARD LOOKING STATEMENTS. This presentation contains certain forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about the proposed merger of Berkshire and CB
Berkshire Hills Bancorp — Merger or Acquisition (October 2011) on 6ix