Bank Of Marin Bancorp · NASDAQ:BMRC
Bank Of Marin Bancorp — Merger or Acquisition (August 2017)
11 slides from Bank Of Marin Bancorp's merger presentation, Aug 1, 2017
Slide 1: Bank of Marin Bancorp Acquisition of Bank of Napa Investor Presentation
Bank of Marin Bancorp Acquisition of Bank of Napa Investor Presentation | July 31, 2017
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain 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 the Company’s plans, objectives, expectations and intenti
Slide 3: Transaction Highlights
3 Transaction Highlights • Significantly enhances Bank of Marin’s position in the attractive Napa market • Pro forma #1 deposit market share among community banks • Bank of Napa is a high quality business bank • The only Napa based community bank • Total assets of $246 million, gross loans of $139 m
Slide 4: Bank of Napa Overview
Balance Sheet: ($000s) Balance Sheet / Capital Ratios: Total Assets 246,056$ TCE / TA 11.05% Gross Loans 139,297 CET1 Ratio 16.40% Total Deposits 217,746 Leverage Ratio 10.99% Total Equity 27,175 Tier 1 Ratio 16.40% Core Deposits(2) 95.3% Total Risk-based Capital Ratio 17.56% MRQ Profitability: Asse
Slide 5: Napa County Market Highlights
5 • Strengthens presence in the attractive Napa County market • Napa county has a population of ~145,000 • 2017 – 2022 population growth is projected at 4.3% compared to 3.8% nationally • Napa County’s economy is strong and rapidly growing • May 2017 unemployment rate of 3.1% is significantly less t
Slide 6: Top Market Share for Community Banks in Napa
6 Top Market Share for Community Banks in Napa Source: SNL Financial. Note: Deposits per FDIC Summary of Deposits as of 6/30/2016. Note: Bold indicates community banks with assets less that $25 billion. Rank Institution (ST) Number of Branches Total Deposits ($mm) Market Share (%) 1 Wells Fargo & Co
Slide 7: Transaction Overview and Assumptions
7 Transaction Overview and Assumptions Transaction Value(1)(2) $51.0 million Pro Forma Ownership Due Diligence Expected Closing Required Approvals 89.4% BMRC / 10.6% BNNP Completed, including extensive loan and compliance review BNNP shareholders and other customary regulatory approvals Q4 2017 Cons
Slide 8: Pricing Multiples and Pro Forma Financial Impact
8 Pricing Multiples and Pro Forma Financial Impact Transaction Multiples(1) Price / Tangible Book Value 1.76x Price / LTM Earnings 25.3x Core Deposit Premium(3) 11.5% Transaction Metrics 2018e EPS Accretion | Incremental EPS Accretion(4) ~1% | ~9% 2019e EPS Accretion | Incremental EPS Accretion(4) ~
Slide 9: Appendix
Appendix Wo. Bao ot Marin
Slide 10: Pro Forma Loan and Deposit Composition
10 Pro Forma Loan and Deposit Composition Source: SNL Financial. Note: Data per regulatory filings as of 6/30/2017; Pro Forma excludes purchase accounting adjustments. Lo an s D ep os its Bank of Marin Yield on Loans: 4.42% C&D 4% C&I 9% Res. RE 8% OO CRE 17% NOO CRE 43% Multifamily 6% Consumer & Ot
Slide 11: An Overview of the Local Economy
11 An Overview of the Local Economy Market Demographics by County Workforce Sector Breakdown (% of employees) Unemployment Rate(1) Other Services Educational & Health Services Trade, Transportation, & Utilities Government Manufacturing County Total Pop. (2017) (000s) Pop. Change (%) 2010-2017 Median
Bank of Marin Bancorp — Merger or Acquisition (August 2017) on 6ix