Simmons First National Corporation · NASDAQ:SFNC
Simmons First National — Merger or Acquisition (September 2013)
17 slides from Simmons First National's merger presentation, Sep 12, 2013
Slide 1: Acquisition of Metropolitan National Bank
mp SIMMONS FIRST 7 NATIONAL =< CORPORATION Acquisition of Metropolitan National Bank September 12, 2013 §-\istropolitan National Bank Nearby €9 Neighborly”
Slide 2: Forward-Looking Statements
Forward-Looking Statem ‘Statements contained in this presentation that are not forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- i future: ‘expect,” “foresee, “estimate,” “may,” “might,” “will,” “would,” “could” These forward- term
Slide 3: Financially Attractive, Low Risk Profile, Strategic Value
Financially Attractive Low Risk Profile Strategic Value market transition Familiar customer base hensive due dili Strong pro forma capital ratios in Little Rock and Northwest Arkansas Beaton) Bryant Cabod and Memes
Slide 4: Transaction Overview
Transaction Overview >. (MIN 36 Realty MNB will be merged i a the lead eat Bank). MNB’s holding company will NOT be acquired. Purchase a. $53.6 million in cash Required Approval Customary regulatory approval Expected P
Slide 5: Key Transaction Assumptions
Key Transaction Assumptions Cost Savings 35% of MNB‘s core non-interest expense . + $15 million pre-tax Phased-in: 60% in first year & 100% thereafter One-time ral Related Cosi ~$8.8 million pre-tax Loan Mark $34.5 million or 7.1% of loans 4 OREO Mark $25.4 million or 35% Fixed Asset Mark $24.5 mill
Slide 6: Financial Impact
Financial Impact « Significant EPS Accretion: % - 2015: ~359 Internal Rate of Return “27% Estimated TBV Impact: - Earn back period ~3 years Pro Forma Capital: -TCE/TA — Tier 1 Leverage Ratio — Tier 1 Risk-Based Capital Ratio — Total Risk-Based Capital Ratio
Slide 7: Metropolitan Highlights
Metropolitan Highlights Financial Highligh §..\iistropolitan = Assets - $991 million “ee rl = Loans - $484 million Nearby Neighborly = Deposits - $862 million = Noninterest Bearing deposits of 17% = Equity illion (Tier 11 Franchise Highlights: accounts) Familiar customer B h = Headquarters in Little
Slide 8: Strong Demographics
Strong Demographics iF 5 Year Population Projected Median Growth % Household Income $ (2013 - 2017) (2017) 5.1% $50,000 SFNC Metropolitan Arkansas. Pro Forma SFNC Metropolitan Arkansas. ProForma National National Source: SNL Financial
Slide 9: Little Rock MSA Expansion
sean (6): Wo Little Rock MSA Expansion dest a Hetopoltan Na Hatinal Bank Market Totals a stygpen 28 kansas are Source: SNL Financial and Company documents Deposit data as of June 30, 2012 @ \ mh ean veo Ce) 9 out of 10 top employers in A headquartered in the Little Rock MSA ‘Metropolitan National Br
Slide 10: Arkansas Deposit Market Share
Arkansas Deposit Market Share Bank of the Ozarks 10 First Bank Corp 1, ‘208, 520 Nati 891,873 Source: SNL Financial and Company documents Deposit data as of June 30, 2012
Slide 11: Pro Forma Loan Composition
E Pro Forma Loan Composition ‘ Metropolitan Pro Forma@) ae wea {eRe Ea] Faia 733) [iaenToatioms (1) Excludes purchase accounting adjustments Source: SNL tirana jote: Data as of June 30, 2013
Slide 12: Pro Forma Deposit Composition
Pro Forma Deposit Composition " Tas [exatioaligeats [exatioattepets 3 [eratioateeoars (1) Excludes purchase accounting adjustments Source: SN. Financial lote: Data as of June 30, 2013
Slide 13: Credit Due Diligence
Credit Due Diligence dit di ili, DC i i and OREO portfolios > Experienced loan review team, borrowers and local markets > 1 > 74% of | f f 35% of book value > The majority of > di >
Slide 14: Proven Acquirer and Integrator
Proven A American Bancshares creer sets: $871 cquirer and Int egrator 1999 NBC Bank Corp. Assets: $143M 2000 1995 ‘Acquired 8 branche DSB Bancshares, Ine. ‘Assets: $20" fcom First Financial Bane Corporation Deposits: 8 1995 Dumas Bancshares, Inc.- Fest State Bank of Gould & Lincoln Baneshares Dumas
Slide 15: Summary
Summary Pro forma total assets of $4.4 billion Complements our existing position in the largest market in Arkansas y and financiall significant EPS accretion and exceptional IRRs = Integrati i d existing local team in the market assures low execution risk Creates long-term value to our shareholders
Slide 16: Pro Forma Footprint
Pro Forma Footprint b.:\Natort ba National Bank sarby OF Neighborly” @ _Metropottan National Branches @ SFNC Branches _ Nastvile,
Slide 17: Acquisition of Metropolitan National Bank
mp SIMMONS FIRST 7 NATIONAL =< CORPORATION Acquisition of Metropolitan National Bank September 12, 2013 §-\istropolitan National Bank Nearby €9 Neighborly”
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