Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Merger or Acquisition (August 2003)
11 slides from Fulton Financial's merger presentation, Aug 26, 2003
Slide 1: Fulton Financial Corporation and Resource Bankshares Corporation
Exhibit 99.4 Fulton Financial Corporation Lancaster, PA (NASDAQ: FULT) and Resource Bankshares Corporation Virginia Beach, VA (NASDAQ: RBKV) August 25, 2003
Slide 2: Forward-Looking Information
Forward-Looking Information • This information may contain forward-looking statements about Fulton Financial Corporation’s growth and acquisition strategies and future financial performance. Forward-looking statements are encouraged by the Private Securities Litigation Reform Act of 1995. • Such for
Slide 3: Fulton Financial Corporation (FFC)
Fulton Financial Corporation (FFC) • $9.2 billion financial holding company • 199 branch locations in PA, NJ, MD, DE • 11 bank subsidiaries; 3 financial services subsidiaries For 6 months ended 6/30/03 • Return on Assets 1.64 % • Return on Equity 15.88 % • Efficiency Ratio 52.90 % • Net Charge-offs
Slide 4: Resource Bankshares Corporation
Resource Bankshares Corporation • Resource Bankshares is headquartered in Virginia Beach, VA, and is the parent company of Resource Bank, an $860 million regional commercial bank with 6 branches in Virginia Beach, Chesapeake, Newport News, Richmond and Herndon and 14 additional mortgage origination
Slide 5: Terms of the Transaction
Terms of the Transaction • Resource Bank retained as independent community bank • Purchase price: $195.6 million* • Consideration: 2.2 shares of FFC stock will be issued for each outstanding share of Resource Bankshares stock • Structure: Tax-free exchange of stock equal to 100% of purchase price •
Slide 6: Pricing
Pricing • Purchase Price $ 195.6 million • Price/6-30-03 common equity 3.31x • Price/LTM EPS 6-30-03 18.08x • Price/2004 EPS estimate 16.26x • FFC shares issued 8.75 million
Slide 7: Capital Strength
Capital Strength FFC (06/30/03) RB (6/30/03) Equity*/assets 10.1 % 6.6 % Leverage capital ratio 9.4 % 8.7 % Total risk-based capital 13.9 % 13.2 % * Excludes trust preferred issuances
Slide 8: Resource Bankshares and FFC Strategy
Resource Bankshares and FFC Strategy • Consistent with strategy of acquiring well-managed, profitable community banks in dynamic growth markets • Geographic expansion and initial entry into state of Virginia • Good asset quality • Talent and experience of staff • Double-digit CAGR in EPS, deposits a
Slide 9: Strategic Implications
Strategic Implications • Market area accounts for over 73% of all deposits in state of Virginia • Provides Resource Bank with increased lending capacity and capital • Expansion of Fulton Financial Advisors into affluent Virginia markets • FFC’s 22nd acquisition—proven corporate acquisition expertise
Slide 10: Resource Branch Locations
Resource Branch Locations l Delaware National Bank Sussex County Branch Locations [GRAPH] ¨ Resource Bankshares All Branch Locations
Slide 11: Offering materials and proxy statement/prospectus notice
These materials may be deemed to be offering materials of Fulton Financial Corporation in connection with Fulton Financial’s proposed acquisition of Resource Bankshares Corporation on the terms and subject to the conditions in the Agreement and Plan of Merger, dated August 25, between Fulton Financi
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