Farmers & Merchants Bancorp, Inc. · NASDAQ:FMAO
Farmers & Merchants Bancorp — Merger or Acquisition (August 2018)
10 slides from Farmers & Merchants Bancorp's merger presentation, Aug 21, 2018
Slide 1: Farmers & Merchants Bancorp, Inc. Acquisition of Limberlost Bancshares, Inc.
Farmers & Merchants Bancorp, Inc. Acquisition of Limberlost Bancshares, Inc.
Slide 2: Additional Information about the Transaction
Additional Information about the Transaction Farmers & Merchants Bancorp, Inc. (“FMAO”) intends to file a registration statement on Form S-4 with the Securities and Exchange Commission (SEC), which will include a prospectus relating to the FMAO shares to be issued in the transaction, a proxy stateme
Slide 3: Forward-Looking Statements Note
Forward-Looking Statements Note This presentation may contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements about our expectations, beliefs, plans, strategies, predictions, forecasts, objectives or assumptions of future e
Slide 4: Transaction Overview
Transaction Overview Farmers & Merchants Bancorp, Inc. to acquire Limberlost Bancshares, Inc. Farmers & Merchants Bancorp (“FMAO”) will acquire Limberlost Bancshares, Inc. (“Limberlost”), the bank holding company for Bank of Geneva (“Bank”), a community bank based in Geneva, Indiana Each share of Li
Slide 5: Pro Forma Branch Map
Pro Forma Branch Map Bank of Geneva 3.718 US Highway 41451 N Meridian St Farmers & Merchants State Bank Branch Address 1/307 N Defance St Hicksville (00 N Main St 2310 N Wayne St 419 8720 Watenile Swanton Rd Watenile Bank of Geney 20 sre Fass Farmers & Merchants State Bank 22 12106 Lima Ra Map exclu
Slide 6: Limberlost Profile – Investment Highlights
Limberlost Profile – Investment Highlights Financial Stability & Asset Quality ● Consistent and strong core profitability - Bank reported S-Corp. net income for 2016, 2017 and YTD 06/30/18 at $5.0 million, $5.5 million and $3.2 million, respectively (S-Corp. ROAA measured 2.18% in 2016, 2.13% in 201
Slide 7: Pro Forma Loan Mix
Pro Forma Loan Mix Bank of Geneva Cons. Agric. 18% 23% Other 03% cal 5.1% 4-4 Fam. 145% 00 CRE Balance %of ($000 Bank of Geneva ($000) Total Construction $53,953 6.5% Fam Loans $70,966 8.5% 1-4 Family 042 ‘Owner-Occupied CRE $142,323 17.1% Loans $169,631 204 Multi-Family $48,061 5.8% cal S116351 14.
Slide 8: Pro Forma Deposit Mix
Pro Forma Deposit Mix 18.5% Balance Bank of Geneva ) Noninterest Bearing $33,011 NOW, MMDA, Savings $129,962 Retail Time Deposits $39,262, Jumbo Time Deposits $9,884 Total Deposits $212,119 Farmers & Merchants State Bank Farmers & Merchants Balance State Bank GS Noninterest Bearing x NOW, MMDA, Savi
Slide 9: Transaction Overview / Key Assumptions
Transaction Overview / Key Assumptions Transaction Value ● Deal value at approximately $88.8 million ● Based on FMAO’s closing price of $43.88 on August 17, 2018 ● Limberlost outstanding common shares: 1,000 Consideration Mix ● Approximately 90% in FMAO stock and 10% in cash ● Shareholders will rece
Slide 10: Transaction Multiples / Pro Forma Results
Transaction Multiples / Pro Forma Results FMAO Acquisition of Limberlost Deal Value (8/17/18 FMAO Stock Price $88.8 mil. Price/TBV (06/30/2018) (1) 290% Price/LTM Earnings (06/30/2018) (2) 19.7x Expected Year 1 EPS Accretion 12.8% Expected Year 2 EPS Accretion 15.5% TBV Dilution at Closing 6.1% TBV
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