Glacier Bancorp, Inc. · NYSE:GBCI
Glacier Bancorp — Merger or Acquisition (June 2017)
12 slides from Glacier Bancorp's merger presentation, Jun 7, 2017
Slide 1: Acquisition of Collegiate Peaks Bank
» INC AN GLACIER NBANCORP, INC. ACQUISITION OF 4 COLLEGIATE PEAKS BANK June 6, 2017
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about the Company's plans, objectives. expectations and intenti
Slide 3: Transaction Rationale
Transaction Rationale > Glacier Bancorp, Inc. will acquire Columbine Capital Corporation, the bank holding company for Buena Vista, Colorado-based Collegiate Peaks Bank = $469 million total assets = 1.26% LTM ROAA + 33% noninterest-bearing deposits + 0.20% NPAs / Assets = 5.94% MRQ yield on loans; 0
Slide 4: Glacier is a "Company of Banks"
Glacier is a “Company of Banks” #YGLacIER BANK FIRST BANK M WASHINGTON Mountain West Bank 4 First Security Bank “ @vai All, Foothills Bank” a 3 GLACIER BANCORP, INC.
Slide 5: Collegiate Peaks Bank Overview
Collegiate Peaks Bank Overview Loan Composition (3/31/2017) Consumaré. Mutifamiyy Other 1% cen Noo cRE 2% cas 10% oo cre 10% Residential HeLoc RE 8% 8% nancial Highlights Yield on Loans: 6.94% Total Loans: $331mm Deposit Composition (3/31/2017) Retail Time MDA & 4% Sav 2% umbe Time 2% Dba Eo Now 2 ‘
Slide 6: Colorado acquisitions at announcement
‘At Announcement ‘Announcement Date Branches Total Deposits Gross Loans Bank of the San Juans 8/19/2008 3 $134 million $130 million First National Bank ofthe Rockies 5/8/2014 40 $305 million $132million Cafion National Bank 7130/2015 9 $225 million $159 million Bank ofthe San Juans (Total) 22 $664 m
Slide 7: Colorado Market
Colorado Market Market Overview The state of Colorado was one of the top 5 fastest growing states over the last two years based on population growth percentage > — Colorado is the nation’s second-most highly educated state with 39.2% of residents having a bachelor’s degree or higher > — Colorado als
Slide 8: Transaction Overview
Transaction Overview er kekemeuken 1,717,229 shares and $15.7 million in cash Transaction Value\® $73.9 million Consideration Mix ~78.2% stock and ~21.8% cash”) Collars (# Glacier price between $31.08 to $42.04, fixed shares and fixed cash Re 97.8% Glacier / 2.2% Columbine Due Diligence Completed, i
Slide 9: Transaction Assumptions
Transaction Assumptions ~$1.8 million or 14.6% of Columbine’s 2018 estimated noninterest expense 80% phase-in during 2018 and 100% thereafter Not included $3.9 million, pre-tax 2.12% gross loan mark 1.50% $36.1 million; excess capital to be paid out to Columbine common shareholders as a special divi
Slide 10: Transaction Multiples and Pro Forma Financial Impact
Transaction Multiples") Pro Forma Financial Impact Price / TBV Price / LTM Earnings Core Deposit Premiu 1.92x 14.6x 9.5% ~A% ~ATM% ~2.5 years >15% (1) Based on Glacier closing stock pre of $32.88 on 6/6/2017. (2) Core deposits equal to total deposits less time deposits greater than $100,000, Include
Slide 11: Concluding Observations
Concluding Observations > The Collegiate Peaks Bank acquisition continues Glacier’s tradition of adding high quality regional banks that fit the Glacier community bankingmodel > Continues our build-out of Colorado, making the state the third largest contributorto loans and deposits + Further diversi
Slide 12: Glacier Bancorp, Inc.
N R BANCORP, INC. Montana, Idaho, Utah, Washington, Wyoming, Colorado & Arizona