Camden National Corporation · NASDAQ:CAC
Camden National — Union Bankshares — Merger or Acquisition (September 2007)
15 slides from Camden National's merger presentation, Sep 26, 2007
Slide 1: Safe Harbor Statement
Safe Harbor Statement This report contains statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of and Section 21E of the Securities Exchange Act of 1934. Forward- looking statements can be identified by the use of the words "believe,"
Slide 2: Overview
Overview • Founded 1875 in Camden, Maine • Common Stock CAC trades on AMEX • Profile – Total Assets - $1.8 billion – Assets under Administration - $925 million – Total Households - 45,600 – Employees – – Banking Centers -
Slide 3: Camden National Corporation
ACADIA TRUST na } ch Camden National Corporation
Slide 4: Franchise Ranking
Franchise Ranking Source: SNL Financial; Bank of America and KeyBank do not provide total Maine-based assets Top Fifteen Banks in Maine by Asset Size Total Assets (000's) Institution Name As of June 30, 2007 TD Banknorth, National Association $43,027,878 Bangor Bancorp, MHC $2,078,791 Camden Nationa
Slide 5: Loan and Deposit Growth
Loan and Deposit Growth $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 Q2-07 Loans Deposits ($ in millions)
Slide 6: Return On Equity
Return On Equity 15.38% 15.85% 15.97% 16.99% 18.40% 17.97% 13.0% 14.0% 15.0% 16.0% 17.0% 18.0% 19.0% Q2-07 * * Q2-07 year to date results annualized
Slide 7: Diluted EPS growth
Diluted EPS growth $2.11 $2.38 $2.53 $2.80 $2.93 $1.00 $1.50 $2.00 $2.50 $3.00
Slide 8: Strategic Focus
Strategic Focus • Maximizing Shareholder Value • Optimizing Capital • “Block and Tackle” Banking • Investing in the Business • Merger of banking subsidiaries • Technology infrastructure • Deposit Group
Slide 9: Key Initiatives
Key Initiatives • Tender Offer / Trust Preferred Issuance – • Merger of banking subsidiaries – • Merger Agreement: Union Bankshares –
Slide 10: Union Bankshares
Union Bankshares Overview Ticker UNBH Headquarters Ellsworth, Maine Founded Branches Total Assets $565 Million (1) Total Loans $373 Million (1) Total Deposits $318 Million (1) Reserves to Loans 1.14% (1) Efficiency Ratio (LTM) 71.49% (2) (1) At June 30, 2007 (2) Last twelve months, as of June 30, 20
Slide 11: Acquisition – Pro Forma Map
Acquisition – Pro Forma Map
Slide 12: Acquisition – Terms
Acquisition – Terms Purchase Price per share $68.00 (1) Consideration 60% stock / 40% cash Fixed Exchange Ratio 1.9106 Aggregate Purchase Price $72.5 Million (1) Premium to Market 33% (2) Price to Book/Tangible Book 174% / 205% (3) Price to LTM Earnings 18.6x (3) Anticipated Closing January 2008 (1)
Slide 13: Acquisition – Compatibility
Acquisition – Compatibility • Two 100+ year old Maine-based institutions • Contiguous geography • Comparable corporate culture • Focus on the customer experience • Conservative credit approach • Operational similarities
Slide 14: Acquisition – Execution
Acquisition – Execution • Experienced senior management team • Merger of banking subsidiaries: operational template • Achievable cost savings and growth assumptions • Compatible cultures Manageable Execution Risk
Slide 15: Acquisition – Financial Impact
Acquisition – Financial Impact EPS Accretion < 1% 4% - 5% Cost Savings (1) 16% 25% (1) Cost Savings are expressed as a percentage of UNBH’s annualized non-interest expense • The legal transaction is expected to be completed in January 2008 • Operational integration is expected to be completed by the
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