Fb Financial Corporation · NYSE:FBK
Fb Financial — Merger or Acquisition (November 2018)
14 slides from Fb Financial's merger presentation, Nov 14, 2018
Slide 1: Acquisition of ACBI's Tennessee & North Georgia Branches
Acquisition of ACBI's Tennessee & North Georgia Branches November 14, 2018
Slide 2: Forward-looking statements
This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that have been made pursuant to the safe harbor provisions of the Private Securities Litigation Ref
Slide 3: Acquisition Overview and Highlights
Select ACBI Branches Deposits by MSA Acquisition Overview Acquisition Highlights Acquired 14 branches from ACBITennessee: 11Georgia: 3Deposits: ~$602 million Loans: ~$381 millionAccounts: 28,842Average branch size: ~$43 millionEmployees: ~120 Source: Company documents as of September 30, 2018, S&P G
Slide 4: Transaction Summary
Transaction Summary Transaction Summary Financial Impact Immediate, mid-to-high single-digit EPS accretionManageable TBV dilution and an earnback of less than 4 years20+% IRRCompany remains well-capitalized, without raising new capital Strategic Rationale Further positions FB Financial as Tennessee’
Slide 5: Tennessee's Premier Community Bank
Tennessee’s Premier Community Bank Top 15 Banks in Tennessee¹ Source: S&P Global IntelligenceNote: Deposit data as of June 30, 2018, pro forma for announced transactions; asset data as of September 30, 2018, pro forma for announced transactions1Sorted by total assets; deposits are limited to Tenness
Slide 6: Chattanooga / Dalton MSAs Pro Forma Footprint
Chattanooga / Dalton MSAs Pro Forma Footprint 269123Blue dots 193210228Metro markets 130131135Highway 167169172State county outlines 8715487Green dots 148194148Community markets Source files are619754_FirstBank Bancorp.ai and mapinfo FBK Deposits by Market Standalone Deposits by Market Pro Forma Com
Slide 7: Enhanced Presence in Attractive Markets
Enhanced Presence in Attractive Markets Source: S&P Global IntelligenceDeposit data as of June 30, 2018; pro forma for announced transactions Chattanooga, TN-GA MSA Knoxville, TN MSA Dalton, GA MSA Morristown, TN MSA
Slide 8: Pro Forma Loan and Deposit Compositions
Pro Forma Loan and Deposit Compositions Pro Forma Loan Portfolio 1-4 Family 1-4 Family HELOC Multifamily C&D CRE C&I (Includes Owner-Occ CRE) Consumer & Other Source: Company documentsFBK data as of and for the three months ended September 30, 2018; ACBI data as of September 30, 2018. Noninterest-be
Slide 9: Assumptions and Estimated Pro Forma Financial Metrics
Assumptions and Estimated Pro Forma Financial Metrics Expected Annual Expense of ~$10 million (excludes CDI amortization) $4.0 million after-tax deal charges$1.0 million PP&E write-up$0.6 million time deposit rate mark 2.5% of non-time deposits, or ~$11 millionAmortized 8 Years SYD Credit: Net mark
Slide 10: Comprehensive Credit Due Diligence
Comprehensive Credit Due Diligence Comprehensive credit review of ACBI’s loan portfolioContracted 3rd party loan review team based in Nashville having significant experience in East TN markets to undertake credit diligenceFindings and specific credits reviewed by FBK senior credit officersReviewed ~
Slide 11: Over 100 Years of History in Tennessee
Over 110 years of History in Tennessee 2003: Acquired The Bank of Murfreesboro in Nashville MSA 2007: Acquired branches from AmSouth Bank in Tennessee community markets 1984 1988 1996 1999 2001 2003 2004 2006 2012 2013 2015 Year: 2001: Opened branches in Nashville and Memphis 2004: Opened branch in
Slide 12: Summary
Summary Strengthens FirstBank as Tennessee’s premier community bankEnhances density in Knoxville, Chattanooga and North GeorgiaProvides attractive funding base to support future growthDeploys and leverages excess capitalFinancially accretive to current shareholdersLow risk transaction
Slide 13: Appendix
Appendix (FB) FirstBank
Slide 14: Branch Overlap Detail
Branch Overlap Detail Source: S&P Global Intelligence Chattanooga, TN-GA MSA & Dalton, GA MSA Knoxville, TN MSA & Morristown, TN MSA ACBI (3) ACBI (2) FBK (6) ACBI (6) FBK (4) ACBI (3) 1.2 miles 2.1 miles 4.2 miles 2.8 miles 1.4 miles 4.6 miles 1.2 miles 1.0 miles 2.1 miles 1.4 miles FBK (6) ACBI (9