Millennium Bankshares Corp · OTC:MBVA
Millennium Bankshares — Merger or Acquisition (September 2005)
22 slides from Millennium Bankshares's merger presentation, Sep 28, 2005
Slide 1: Millennium Bankshares Investor Presentation
Exhibit 99.1 Mill um
Slide 2: Forward-Looking Statements
Forward This things, Bankshares’ involve ability the conditions; and to clarify Millennium 2 from companies revenues regulation; presentation NASDAQ: of these the time aLooking the number anticipated changes Bankshares management forward-looking to companies orfollowing MBVA other time the contains
Slide 3: Additional Information on the Proposed Transaction
Securities This Reorganization, and WE WITHIN COMMISSION TRANSACTION, PROPOSED http://www.sec.gov. Plaza, Jr. The companies’ statement Millennium 3 (telephone 425 URGE directors, NASDAQ:presentation Reston, promulgated THE issued Law INVESTORS respective Bankshares TRANSACTION. number executive MBVA
Slide 4: Corporate Profile
Corporate Founded Provides One Traded Data Millennium 4 of asregion’s NASDAQ: on offull inProfile NASDAQ 6/30/2005 1999 Bankshares array MBVA top byof SBA Carroll –banking, Symbol Investor lenders, C. mortgage, Markley MBVA Presentation Preferred Headquartered and Lender securities in services Resto
Slide 5: Leadership
Leadership Chairman Years Data Millennium 5 asEVP NASDAQ: of & 6/30/2005 Loan Experience Bankshares CEO: MBVA Administration: Carroll Investor C. Markley, Presentation Keith 39 Law, Years 24 Years President CIO:&Greg COO:Oliven, Anita 18 Shull Years CPA, HR20Director: Years CFO: Pat Somerville, Dale
Slide 6: Corporate Strategy
Corporate Entering Our We Millennium 6 provide focus plan immediate NASDAQ: to Charlottesville on Strategy leverage our Bankshares thefocus MBVA customers high-growth our is integrating capital with Investor with acquisition markets through the Presentation Albemarle products ofcontinued Northern of
Slide 7: Attractive Target Markets
Attractive Our Projected 17.36% 19.44% 21.77% 22.90% 25.00% 20.00% 10.00% 5.00% Charlottesville, 6.26% 10.83% 8.48% 8.94% 15.00% 12.00% 9.00% 6.00% 3.00% Source: Millennium 7 target NASDAQ: SNL Median Population Target markets Bankshares Financial, MBVA VA Markets Household are Richmond, Growth proj
Slide 8: Financial Strengths and Challenges
Financial Veteran Strengths Our Strong Complete Challenges Increased Millennium 8 capabilities NASDAQ:capital senior Performance focus deployment Bankshares and management MBVA on were loan generating enhanced ofloss Investor investments reserve team demand through Presentation in to place in suppor
Slide 9: Millennium Financial Summary
Summary YE Assets Loans(1) Deposits Provision Non Pretax Income ROAA ROAE Equity:Assets Leverage Reserve:Loans Net NIM Efficiency (1) 9 2003 Interest Income C/O:Loans Interest 3.16 Income 313,396 6.20 0.31 Includes Taxes Millennium N ASDAQ: 272,113 YE 218,039 Ratio for Financial 3.37 Ratio Income 96
Slide 10: Our Total Return and Performance
Our Total 500,000 400,000 300,000 200,000 2.00 1.00 0.00 -1.00 -2.00 Return 1 0 -10 -20 Median 1Q2005 2004Y 2003Y 2002Y 2001Y 2000Y 20 Peer Millennium NASDAQ: 10000,000 financial Group Assets on Average MBVA consists Bankshares ($000) performance Assets Equity of 207 Millennium Investor compares ban
Slide 11: Albemarle First Bank Corporate Profile
Albemarle President Inside Financial Millennium NASDAQ: 11 Ownership data &First MBVA Bankshares CEOasCorporate of – Thomas 06/30/2005 15.73% Investor Profile Number M. Boyd, Presentation ofJr.Shareholders Assets—$121,527 – 1,459Loans—$93,670 Institutional Ownership Deposits—$101,381 – 11.53% Full S
Slide 12: Albemarle First Bank Financial Summary
Albemarle YE Assets Loans(1) Deposits Provision Non Pretax Income ROA ROE Equity:Assets Leverage Reserve:Loans Net NIM Efficiency (1) 12 2003 Interest Income C/O:Loans Interest 4.21 9.49 (1.91) Income 106,434 Includes Taxes Millennium NASDAQ: 91,520 YE 68,371 Ratio for 3.86 0.99 Ratio First Income (
Slide 13: Strategic Benefits of the Acquisition
Strategic Allows Current Charlottesville Opportunity Acquisition 15%-20% Higher Creates Combined (1) 13 legal us Source: desirable management Millennium NASDAQ: Benefits near-term to franchise allows for lending enter MBVA market SNL a Virginia community of the Albemarle Bankshares has balance Albem
Slide 14: Albemarle Acquisition Drivers
Albemarle Significant Near-Term improvements Low-cost Long-Term million Selling (1) 14 Millennium’s Source: Millennium NASDAQ: deposit First cost MBVAHigher Acquisition savings SNL baseFinancial, Bankshares small legal complements to be business lending Financial achieved InvestorClaritas limit; Mil
Slide 15: Transaction Summary and Deal Terms
Transaction Deal Consideration(1) Purchase Announced Less: Net Price/ Collar Target Termination Due (1) their fluctuate Millennium NASDAQ: 15 No Deal Diligence Albemarle Terms Proceeds Book Yes Closing more in Value Price/Share(2) MBVA the Value Summary Bankshares Value Fee than Complete December, f
Slide 16: Comparable Transaction Multiples
Comparable Multiple Trans Value Transaction Franchise Market Includes January (3) Millennium NASDAQ: 16 14.06% ac Value Premium 1,tio transactions s premium/Core Gro 2003 MBVA of nBankshares price/LTM price/Book price/Tangible Value Transactions Me Implie total up and 29.67% $15.80 dian Multiple Val
Slide 17: Collar and Exchange Ratio
Collar 20 $6.54— New Total Deal Termination AFBK above (1) 17 Trading Value Shares New $8.87 Description may Deal Floor Millennium NASDAQ: Shares Days (1) terminate Issued—Outstanding Rights and value MBVACeiling 27,205 AFBK Average Issued assumes Bankshares if29,124 $8.40—$7.00/ does MBVA 2,080 Clo
Slide 18: Other Deal Terms
Other Albemarle Tom A. Closing Millennium NASDAQ: 18 Preston Boyd, Deal is contingent First’s Moore, Terms MBVA current Bankshares board Jr., Albemarle upon current of board Investor directors Millennium’s Albemarle First will Presentation be President will expanded stay First satisfaction in &Chief
Slide 19: Pro Forma Balance Sheet
ProExcludes MBVA Fed Investment Loans Loan Acquisition Non-Earning Deposits Other Borrowed Trust Equity Total Equity/Assets Book Tangible (1) Albemarle from Millennium NASDAQ: 19 Forma Funds other Assets Liabilities Loss Preferred Value Liabilities 292,197 48,076 AFBK Equity/Tangible Book 304,514 Fu
Slide 20: Pro Forma Deposit Composition
Albemarle 33.4% Pro Demand 22.3% NOW MMDA Time Millennium NASDAQ: 20 Forma >&$100K < $100K, & Deposits Other Savings First Deposit Composition MBVA Bankshares 14.6% 17.3% 21.3% 16.5% 15.8% 16.0% 24.8% Bank 13.7% 7.1% 8.7% Composition 21.9% 35.0% 31.7% Investor –Presentation June 30, 2005
Slide 21: Pro Forma Loan Composition
Albemarle Pro Construction Consumer CRE Commercial 1-4 Millennium NASDAQ: 21 Family Forma 19.3%3.4% 42.9% 36.7%7.4% 2.0% First Loan Composition 35.2% 34.2% 34.5% MBVA Bankshares 23.3% 7.2% 11.4% 14.8% 13.5% 13.9% Bank Composition Investor – June Presentation 30, 2005
Slide 22: Why Invest in Millennium Bankshares?
Whynear Currently With Committed No Albemarle Strong Senior Carroll Millennium NASDAQ: 22 Invest themanagement growth C. term acquisition located Markley First MBVA to in Bankshares acquisitions enhancing Millennium potential acquisition infounded team two of Albemarle with Investor of profitability
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