United Community Banks, Inc. · NYSE:UCB
United Community Banks — Merger or Acquisition (March 2020)
10 slides from United Community Banks's merger presentation, Mar 9, 2020
Slide 1: Acquisition of Three Shores Bancorporation, Inc.
Acquisition of Three Shores Bancorporation, Inc. March 9, 2020 Member FDIC. © 2020 United Bank
Slide 2: Important Information For Shareholders and Investors
Important Information For Shareholders and Investors In connection with the proposed merger, United Community Banks, Inc. (“United”) will file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a Proxy Statement of Three Shores Bancorporation,
Slide 3: Cautionary Statement
Cautionary Statement Caution About Forward-Looking Statements This communication 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.. In general, forward-looking stateme
Slide 4: Transaction Highlights
Transaction Highlights Consistent With Our Strategy of Acquiring Franchise-Enhancing Companies Within Target Markets Acquisition of attractive commercial banking franchise with 14 branches and $1.5 billion of deposits Expands United’s franchise into key growing and affluent Florida metro areas L
Slide 5: Overview of Three Shores Bancorporation, Inc.
Overview of Three Shores Bancorporation, Inc. Company Overview Three Shores At-a-Glance • Ticker: TSHR (OTC pink listed) • Strong commercial lending operation with excellent asset quality • Founder, CEO and President: Gideon Haymaker – 62% of loans are commercial & industrial and owner-occupied CRE,
Slide 6: Three Shores' Geographic Footprint
Three Shores’ Geographic Footprint Three Shores Branch Network Three Shores has a focused, “branch lite” model 14 offices across three regions Ponte Vedra, FL Central FL • Deposits: $902 million • Branch locations: Orlando, Lake Mary, Winter Park, Windermere • Orlando market #1 in job growth for 201
Slide 7: Additive to Our Existing Southeast Footprint
Additive to Our Existing Southeast Footprint Expansion into Attractive Florida Markets High-Growth MSAs in the Southeast Average Deposits per Branch ‘20 – ’25 ‘25 Proj. Median ($ millions) 108 Fastest Growing Proj. ’20 Household Southeast MSAs (1) Pop. Growth Population Income 67 1. Myrtle Beach, SC
Slide 8: Pro Forma Loan and Deposit Composition
Pro Forma Loan and Deposit Composition Pro Forma Cons., HE & Other Cons., HE & Other Cons., HE & Other 4% 4% 4% 1-4 Family C&I C&I Loan Composition (1) 1-4 Family 1-4 Family 17% 24% 21% 23% 25% C&D C&I 4% 48% Owner Non Owner Owner Occupied CRE C&D Occupied CRE Occupied CRE 18% 14% 13% C&D 18% 12% No
Slide 9: Key Transaction Assumptions and Results
Key Transaction Assumptions and Results • 0.3300 shares of United common stock for each share of Three Shores’ common stock Consideration • $25 million of options and follow-on rights cashed out at close • Deal value of approximately $180 million inclusive of value to options and follow-on rights (1
Slide 10: Summary of Transaction
Summary of Transaction Provides natural expansion into key Florida metro areas with desirable market demographics – Ease of integration with no branch closures and expectation of retaining CEO and Client Advisors Culturally compatible with a focus on customer service that mirrors that of United
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