Glacier Bancorp, Inc. · NYSE:GBCI
Glacier Bancorp — Merger or Acquisition (July 2015)
10 slides from Glacier Bancorp's merger presentation, Jul 31, 2015
Slide 1: Acquisition of Cañon National Bank Corporation
Exhibit 99.2 Acquisition July 30, 2015 of
Slide 2: Forward-Looking Statements
Forward This Bank statements expected be enforcement, and place undertakes 1invoking fully Cañon presentation undue Corporation, realized Looking or PSLRA’s about are Bank no at reliance and obligation all subject or Corporation; the because contains the Statements including safe may benefits on deg
Slide 3: Glacier Transaction Overview
Glacier Transaction Total Based Cañon Closing 2Targeted transaction on Bank National Bancorp ofclosing recent transaction Overview marks Corporation, Bank GBCI will date value theacquire in will is fifth stock offourth subject $31.8 (holding be Glacier price Cañon merged quarter million, toof requir
Slide 4: Continued Colorado Expansion
Continued Announcement $132 Colorado Glacier Cañon Source: Bank 3Note: million of Financials will branch intends SNL the bank Expansion be San Rockies Financial location Glacier’s acquisition to date Juans atcontinue announcement Branches Bank in branch FNBR third Colorado (and to ofstrategically lo
Slide 5: Cañon National Bank Corporation Overview
(1) Branch Founded Well-managed Regional branch 57% Cañon Liquid ($000s) Gross Low-cost Noninterest-Bearing is 21,419 Outstanding Non-Performing 0.45% NPAs Non-Accrual Loan Total LLR/Loans #Year LTM Source: 4 of Branches Employees of Established Assets net Deposits Equity(1) NPLs/Loans Loss to Loans
Slide 6: Strategic Transaction Rationale
Strategic Glacier Adds Transaction Colorado’s Cañon Strong Significant Expands Diversified area Opportunity 5lending new branch presence adds limits Glacier’s existing Rationale markets opportunity expected regional moves to a Source: location complementary better inColorado existing south of Glacie
Slide 7: Financial Benefits to Glacier
(1) Financial Average Excellent Further Cañon’s Glacier 6 Tangible adds anticipates realization Excluding strong Q2 Benefits asset cost a $159 $221 quality recent of Book million of immediate one-time funds: million Glacier’s trends metrics Value/Share in 0.28% high-quality, transaction in core EPS
Slide 8: Key Transaction Terms and Deal Assumptions
(1) Key Transaction Fair Loan Core (2) (3) (1) (2) 7for Deal Structure: Collars: 49% ValueTerms Deposit $1.3Value(1): Based Including reduction stock Discount: $24.92 $3.5 Fixed Marks: and million oron (554,229 Assumptions $31.8 Intangible: to 2% shares $33.72 OREO (18%), recent employment million C
Slide 9: Transaction Multiples and Pricing
(1) Transaction Price Expected Tangible (2) Price 148.3% / LTM Multiples Holding Calculated /Book 2016 Holding Earnings Value EPS Company Company last Accretion—Year Per (6/30/15)(2): twelve Share Tangible Tangible months’ Dilution: Book 13.4x 1:Book earnings 1.6% -0.5% (6/30/15) of 151.3% based : o
Slide 10: Concluding Observations
Concluding Pricing Opportunity Cañon Under With 9Transaction Glacier Glacier National management metrics, Observations should to providing structure, expand Bank dealenhance and structure, acquisition into regulatory, staff Cañon’s the GBCI’s provide and growing employees continues operational, cons