National Bankshares, Inc. · NASDAQ:NKSH
National Bankshares — Merger or Acquisition (January 2024)
7 slides from National Bankshares's merger presentation, Jan 24, 2024
Slide 1: Announcing the Acquisition of Frontier Community Bank
Exhibit 99.2 Announcing the Acquisition of Frontier Community Bank Merger Investor Presentation – January 24, 2024
Slide 2: Forward-Looking Statements Disclosure
Forward-Looking Statements Disclosure Certain statements in this presentation may constitute “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 (i) the benefits of
Slide 3: Additional Information
Additional Information This presentation does not constitute an offer to sell or the solicitation of an offer to buy securities of NKSH or a solicitation of any vote or approval. NKSH will file a Registration Statement on Form S-4 and other documents regarding the proposed Merger with the Securities
Slide 4: Frontier Overview
Frontier Community Bank Overview Frontier Footprint Financial Highlights ($000s) 2022Y 2023Q1 2023Q2 2023Q3 Frontier Branch Balance Sheet Total Assets $150,979 $151,610 $159,250 $154,394 Gross Loans HFI 125,651 126,605 128,006 129,563 VA Staunton Deposits 130,667 123,903 133,589 128,499 Waynesboro L
Slide 5: Transaction Key Assumptions and Impact
Transaction Key Assumptions and Impact Transaction Terms Expected Financial Impact • Frontier Community Bank to merge into The National (5) Including Rate Marks Excluding Rate Marks Bank of Blacksburg • Each share of Frontier common stock to be exchanged for the right to receive either 0.4250 TBV Ac
Slide 6: Pro Forma Overview
Pro Forma Overview Key Highlights Pro Forma Branch Map (1) NKSH Branch (25) NKSH LPO (3) VA Total Total Total Frontier Branch (3) Staunton Loans Deposits Assets Waynesboro Charlottesville Lynchburg ~$1.7B ~$980M ~$1.6B Washington (2) (2) Pro Forma Loan Composition Pro Forma Deposit Composition Real
Slide 7: Transaction Rationale
Transaction Rationale Strategic Markets Financial Risk Profile • Expands branch footprint • Expands franchise into • Financially compelling • Minimal execution risk around existing NKSH LPOs higher growth Staunton, transaction with meaningful expected with continuous Waynesboro, and earnings accreti
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