Columbia Banking System, Inc. · NASDAQ:COLB
Columbia Banking System — Merger or Acquisition (June 2021)
13 slides from Columbia Banking System's merger presentation, Jun 24, 2021
Slide 1: Enters California through the Acquisition of Bank of Commerce Holdings
Exhibit 99.2 Sacramento, CA Enters California through the Acquisition of Mt. Shasta, CA Redding, CA Investor Presentation June 23, 2021Exhibit 99.2 Sacramento, CA Enters California through the Acquisition of Mt. Shasta, CA Redding, CA Investor Presentation June 23, 2021
Slide 2: Cautionary Note: Forward-Looking Statements
Cautionary Note: Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements invol
Slide 3: Transaction Overview
Transaction Overview Ø Columbia Banking System Inc. (“COLB”) (NASDAQ: COLB) will acquire Bank of Commerce Holdings (“BOCH”) (NASDAQ: BOCH), the bank holding company for Merchants Bank of Commerce (the “Bank”), a community bank headquartered in Sacramento, California th — Represents COLB’s 11 acquisi
Slide 4: Bank of Commerce Holdings Overview
Bank of Commerce Holdings (NASDAQ: BOCH) Overview Branch Locations Company Description • BOCH is the bank holding company for Merchants Bank of Commerce • BOCH operates out of 10 full service branches, 1 internet banking branch, 1 limited service branch and 1 loan production office in Northern Calif
Slide 5: BOCH's Market Highlights
BOCH’s Market Highlights Establishes COLB’s presence in the attractive California market BOCH’s Market Highlights Market Demographics BOCH allows COLB to establish its presence in the attractive California market and BOCH instantly become a leader across the Northern California region CA $82,565 12.
Slide 6: Pro Forma Company Overview
Pro Forma Company Overview Attractive West Coast Footprint (1) Top 5 MSAs by Pro Forma Deposits Market Market Deposits Share 1 Seattle-Tacoma-Bellevue, WA $5.1bn 3.8% 2 Portland-Vancouver-Hillsboro, OR-WA $2.3bn 3.5% 3 Salem, OR $1.0bn 13.3% 4 Olympia-Lacey-Tumwater, WA $0.8bn 15.0% 5 Sacramento-Ros
Slide 7: Transaction Structure
Transaction Structure Fixed Exchange § 0.400 of a COLB share issued for each BOCH common share outstanding Ratio § 100% stock-for-stock outstanding Consideration Mix § In-the-money options will receive cash consideration Pro Forma § 91% COLB | 9% BOCH Ownership Local Leadership § Randy Eslick, curre
Slide 8: Key Assumptions
Key Assumptions Earnings § Consensus earnings estimates for both companies Estimates § Estimated $10.6 million of pre-tax run-rate savings, or 30.0% of BOCH’s non-interest expense (excluding amortization of Cost Savings / intangibles) Other Earnings – Phased in 70% in 2022, and 100% thereafter Adjus
Slide 9: Pro Forma Financial Impact
Pro Forma Financial Impact $266mm $15.72 TRANSACTION VALUE PER SHARE PURCHASE PRICE (2) Valuation Metrics Financial Impact Price / Tangible Book Value Per Share 2022e Earnings Per Share Accretion 1.64x 3% (1) Pay-to-Trade Ratio 2023e Earnings Per Share Accretion 0.86x 4% Price / 2022e Earnings Per S
Slide 10: Appendix
Appendix Mt. Shasta, CAAppendix Mt. Shasta, CA
Slide 11: Pro Forma Loan and Deposit Composition
Pro Forma Loan and Deposit Composition (1) COLB BOCH Pro Forma Regulatory Loan Portfolio Composition: Consumer & Consumer & Consumer & Other Other Res. RE Other Commercial 5% 12% Commercial 12% 7% 30% 19% Multifamily Res. RE 6% Res. RE Commercial 5% 6% Agricultural 28% 0.2% Multifamily Multifamily 4
Slide 12: Growth and Acquisition History Since 2006
Growth and Acquisition History Since 2006 Columbia is a seasoned acquiror with a proven integration track record Total Assets ($M) $25,000 Bank of Commerce Holdings $1.8 Bln $20,000 $19,164 $17,335 $16,585 Pacific Continental Corporation $15,000 $2.9 Bln $14,080 $13,095 $12,717 Bank of Intermountain
Slide 13: Contact Us
Contact Us Clint Stein President & Chief Executive Officer (253) 593-8304 cstein@columbiabank.com Aaron Deer Chief Financial Officer (253) 305-1966 ajdeer@columbiabank.com 13Contact Us Clint Stein President & Chief Executive Officer (253) 593-8304 cstein@columbiabank.com Aaron Deer Chief Financial O
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