Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Union Bankshares — Merger or Acquisition (April 2009)
14 slides from Atlantic Union Bankshares's merger presentation, Apr 21, 2009
Slide 1: Creating Richmond and Central Virginia's Bank of Choice
Exhibit 99.1 & Creating Richmond and Central Virginia’s Bank of Choice April 2009
Slide 2: Forward Looking Information
Forward Looking Information Certain statements in this report may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations or beliefs about future
Slide 3: Pro Forma Franchise: Merger Highlights and Footprint
Pro Forma Franchise Merger Highlights Pro Forma Footprint Pro forma Company becomes the largest community bank in Virginia $4.0 billion in assets Mid-Atlantic franchise with strong presence in high growth Virginia markets Moves UBSH from 11th to 6th in deposit market share in Virginia; from 8th to 5
Slide 4: Pro Forma Deposit Market Share
Pro Forma Deposit Market Share Virginia Market Share Richmond MSA Market Share Total Total Total Total Deposits Market Deposits Market Branch in Market Share Branch in Market Share Rank Institution Count ($000) (%) Rank Institution Count ($000) (%) 1 Wells Fargo & Co. (CA) 299 25,887,623 18.06 1 Ban
Slide 5: Transaction Overview
Transaction Overview Pro Forma Overview Corporate Structure Name: Union First Market Bankshares Corporation Headquarters: Richmond, VA Board: Existing UBSH Board plus: James E. Ukrop Steven A. Markel David J. Fairchild Leadership: Chairman: Ronald L. Hicks (UBSH) Chief Executive Officer: G. William
Slide 6: Transaction Detail
Transaction Detail Consideration: (1) 100% Common Stock Preferred Shares: First Market’s outstanding $10.0 million 9.0% preferred shares will be converted into common equity Shares to be Issued: Common Shareholders: 6.7 million shares Preferred Shareholders: 703 thousand shares (2) Pre-Conversion Po
Slide 7: Comparable Acquisitions
Comparable Acquisitions Price / Tangible Book Value (%) (1) Core Deposit Premium (%) (2) 250 40.0 200 30.0 161 150 20.0 118 13.8 100 10.0 1.7 50 0.0 UBSH / First Market Comparable UBSH / First Market Comparable Transactions Transactions Source: SNL Financial and company filings Comparable transactio
Slide 8: First Market Overview
First Market Overview First Market Overview Deposits Over Time ($mm) Virginia’s 11th largest community bank $1,400 Assets: $1.3 billion $1,128 Gross Loans: $1.0 billion $1,150 $1,095 $1,047 Deposits: $1.1 billion $1,011 Tangible Common Equity: $79.4 million $916 $875 $900 $815 Successful partnership
Slide 9: Supermarket Relationship
Supermarket Relationship Successful supermarket partnership generates retail customer relationships Median Aggregate Deposits of In-Store Locations ($MM) In-Store Locations Open 5+ Years* $35.0 First Market Branch Deposit Median Comparable Locations $30.7 Size Range Deposits $29.7 $30.1 $30.0 $29.5
Slide 10: Credit Review
Credit Review Asset Quality Due Diligence Process NPAs / Loans + OREO 2.00 Performed extensive due diligence First Market (1) 1.59 Peer Group 1.50 Financial and legal due diligence (%) 1.00 Credit due diligence conducted by 0.59 management and third party loan review 0.50 0.26 0.30 0.25 0.25 0.30 0.
Slide 11: Capital Impact
Capital Impact Leverage Ratio (%) 7.00 12.00 5.98 5.97 5.65 10.87 6.00 11.00 9.71 5.00 10.00 9.23 4.00 9.00 3.00 8.00 UBSH Stand First Market Pro Forma UBSH Stand First Market Pro Forma Alone Stand Alone Alone Stand Alone Total Capital Ratio (%) 14.00 15.00 13.83 13.00 12.59 14.00 13.56 12.67 12.00
Slide 12: Acquisition Blueprint
Acquisition Blueprint Good Demographics / Growth Market OR …Unique Product / Service (e.g. Trust, Wealth Management) Management Retention Thorough Due Diligence Process Low Integration Risk EPS Accretive Tangible Common Equity to Assets above 5.5% 12
Slide 13: Additional Information and Where to Find It
Additional Information and Where to Find It In connection with the merger, Union will file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the shares of Union common stock to be issued to First Market stockholders. The registration statement w
Slide 14: Creating Richmond and Central Virginia's Bank of Choice
& Creating Richmond and Central Virginia’s Bank of Choice April 2009
Union Bankshares — Merger or Acquisition (April 2009) on 6ix