CNB Community Bancorp Inc · OTC:CNBB
CNB Community Bancorp — Community Bancorp — Investor Presentation (May 2006)
39 slides from CNB Community Bancorp's investor presentation, May 12, 2006
Slide 1: Investor Presentation
INVESTOR PRESENTATION Exhibit 99.2
Slide 2: Forward Looking Information
Certain statements contained in this presentation, including, without limitation, statements containing the words “believes”, “anticipates”, “intends”, “expects”, and words of similar import, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and
Slide 3: Key Investment Considerations
• One of the largest community banks headquartered in the high growth market of Las Vegas • Consistent, high performing institution – Five year CAGR of assets and net income of 26% and 24% respectively – Five year average ROE and ROA of 15.7% and 1.21% respectively – First Quarter 2006 ROE and ROA o
Slide 4: Stock Summary
Issuer: Community Bancorp NASDAQ Symbol: CBON Shares Outstanding (03/31/06): 7,383,753 52 Week High/Low: $34.75 to 23.35 per Share Market Capitalization Range: $172 Million to $257 Million Stock Summary 4 Commercial Real Estate Funded Property
Slide 5: Company Overview
Company Overview • Community Bancorp is the bank holding company for Community Bank of Nevada serving the greater Las Vegas market with nine branches • Community Bank of Nevada, founded in 1995, is one of the largest community banks headquartered in the greater Las Vegas area • Profitable every year
Slide 6: Branch Locations & Market Area
Branch Locations & Market Area • Nine full service offices located throughout the greater Las Vegas Area • Between 2001 and 2005 Clark County’s population grew by approximately 5% per year compared to the national average of 1.2%* • By 2005 Clark County reached a population of 1,815,700* • According
Slide 7: Deposit Market Share
Deposit Market Share Source: SNL Securities at 6/30/05 (includes Bank of Commerce deposits) One of the largest community banks based in Las Vegas 7 COUNTY: Clark, NV 2005 2005 Total Total 2005 Deposits Market 2005 2005 Branch in Market Share Rank Institution Type Count $0 (%) Citigroup Inc. (NY) Ban
Slide 8: Growth Strategies
• To capitalize on growth opportunities in Las Vegas and other rapidly expanding markets – Acquire other community banks or organize de novo banks in markets that offer regional continuity, such as the greater Las Vegas area or similar high-growth markets in Arizona and California – Planning the 10
Slide 9: 2005 Home Sales
COMMUNITY BAROOR?: 2005 Home Sales
Slide 10: Where We Live
Where We Live 9 0 200 400 600 800 1000 1200 1400 1600 1800 2000 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2005 Clark County Total Population (000) 1 0 4 0 1 2 4 6 1 3 2 1 1 4 2 8 1 4 9 8 1 5 7 8 1 6 4 1 1 7 4 7 1 8 1 5 1 1 8 8 1 1 1 9 Source: Clark County Comprehensive Plan, Homebuilder
Slide 11: Operating Strategies
Operating Strategies Commercial Real Estate Funded Property Continue to enhance our risk management function – Proactively manage sound procedures – Commit experienced human resources to this effort. In Q305 an experienced former bank regulator joined the management team to oversee this commitment t
Slide 12: Operating Strategies - Continued
Operating Strategies- Continued • Continue to develop low-cost funding sources • Diversify our revenue source – Increase number of products being sold to each of our client relationships 11 Commercial Real Estate Funded Property
Slide 13: Experienced Management Team - Community Bancorp
Experienced Management Team- Community Bancorp * Community Bancorp was founded in 2002 Management Position Edward M. Jamison Lawrence K. Scott Cathy Robinson Chairman, President & Chief Executive Officer EVP and Chief Operating Officer EVP and Chief Financial Officer Years of Experience 33+ 23+ 25+
Slide 14: Experienced Management Team - Community Bank of Nevada
Experienced Management Team- Community Bank of Nevada * Community Bank of Nevada was founded in 1995 Management Position Edward M. Jamison Lawrence K. Scott Cathy Robinson Don F. Bigger Cassandra Eisinger Bruce Ford Tom McGrath Founder and Chief Executive Officer President and Chief Operating Office
Slide 15: Financial Performance
FINANCIAL PERFORMANCE 14
Slide 16: Community Bancorp
COMMUNITY BANCORP
Slide 17: Strong Asset Growth
Strong Asset Growth $400,571 $463,431 $960,192 ($000) 15 $573,961 $722,009 CAGR = 31% Organic Growth Acquisition Growth* * Based on fair value of assets acquired on August 26, 2005 $892,708 2002 2004 2003 2005 1Q 06
Slide 18: Community Bancorp
COMMUNITY BANOOR?:
Slide 19: Loan Growth
Loan Growth $293,535 CAGR = 34% ($000) $663,407 $350,082 $762,175 $403,270 16 $559,349 Organic Growth Acquisition Growth* * Based on fair value of loans acquired on August 26, 2005 2002 2004 2003 2005 1Q 06
Slide 20: Loan Portfolio Matches the Marketplace
Loan Portfolio Matches the Marketplace 1Q 06 Construction 54% Commercial Real Estate 25% Consumer & Other 1% Residential Real Estate 4% Commercial 16% 17
Slide 21: Community Bancorp
COMMUNITY BANCORP.
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Slide 23: Deposit Growth
Deposit Growth ($000) CAGR = 26% $725,088 $351,584 $403,713 $476,252 $606,847 18 $747,540 Organic Growth Acquisition Growth* * Based on deposits acquired on August 26, 2005 2002 2004 2003 2005 1Q 06
Slide 24: Deposit Mix 1Q 06
Interest Bearing Demand 6% Money Market 40% Savings 1% Time Certificates 22% Non-interest Bearing Demand 25% Wholesale Deposits 6% Deposit Mix 1Q 06 19
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Slide 26: Credit Quality
Credit Quality NPAs to Loans & OREO ($000) 0.14% 1.99% 1.00% 0.78% 0.08% 20 2002 2004 2003 2005 1Q 06
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Slide 28: Gains in Net Income
Gains in Net Income ($000) $10,065 $4,725 $5,215 $5,421 $3,425 21 2002 2004 2003 2005 1Q 06
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Slide 30: Consistently Profitable ROE
Consistently Profitable ROE 11.4% 19.1% 17.8% 15.1% 12.6% 22 2002 2004 2003 2005 1Q 06
Slide 31: Balance Sheet
Balance Sheet 23 Balance Sheet (in $000s) 1Q 06 2005 2004 2003 2002 Assets 960,192 $ 892,708 $ 573,961 $ 463,431 $ 400,571 $ Gross Loans 762,175 663,407 403,270 350,082 293,535 Allowance for Loan Losses 9,098 8,117 6,133 5,409 4,688 Deposits 747,540 725,088 476,252 403,713 351,584 Equity 110,301 106
Slide 32: Income Statement
Income Statement 24 Income Statement (in $000s, except per share data) 1Q 06 2005 2004 2003 2002 Interest and dividend income 16,696 $ 46,337 $ 30,038 $ 27,143 $ 25,449 $ Interest expense 5,419 12,511 6,862 7,453 8,709 Net interest income 11,277 33,826 23,176 19,690 16,740 Provision for loan losses
Slide 33: Asset Quality
Asset Quality (1) Non-performing loans are defined as loans that are past due 90 days or more plus loans placed in non-accrual status and restructured loans. (2) Non-performing assets are defined as loans that are past due 90 days or more, non-accrual loans plus other real estate owned . 25 1Q 06 No
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Slide 35: EPS - Diluted
EPS - Diluted CAGR = 20% $1.42 $1.01 $1.10 $1.10 $0.46 26 2002 2004 2003 2005 1Q 06
Slide 36: Summary
Summary • Loan growth of 86% year-over-year and 59.6% on an annualized basis over year end. • Net income up 43.8% year-over-year. • Earnings per share up 31.4% year-over-year to $0.46 as of March 2006. • Net interest margin increased to 5.39% compared to 4.49% year-over-year. • Deposit growth of 40%
Slide 37: 1Q Highlights
1Q 06 Highlights Category 1Q 06 Deposits 747,540 $ 22,452 $ 212,428 $ Loans 762,175 $ 98,768 $ 352,343 $ Net Income 3,425 $ 448 $ 1,043 $ Net Interest Margin 5.39% 0.04% 0.90% Revenue 11,805 $ 311 $ 4,899 $ ($000) 28 3.10% 39.70% 14.89% 85.97% 15.05% 43.79% 0.75% 20.04% 2.71% 70.94% From 1Q 05 From
Slide 38: Why Invest?
Why Investment? • Excellent expansion opportunities in both Las Vegas and other high growth markets • Consistent, high performance institution – Five year CAGR of assets and net income of 26% and 24% respectively – Five year average ROE and ROA of 15.7% and 1.21% respectively • Focus on business ban
Slide 39: INVESTOR PRESENTATION
INVESTOR PRESENTATION