Southern Missouri Bancorp, Inc. · NASDAQ:SMBC
Southern Missouri Bancorp — Merger or Acquisition (February 2014)
10 slides from Southern Missouri Bancorp's merger presentation, Feb 28, 2014
Slide 1: Acquisition of Peoples Service Company Investor Presentation
N va Southern Missouri BANCORP Acquisition of Peoples Service Company Investor Presentation February 28, 2014
Slide 2: Important Statements
Important Statements ‘Safe Harbor Regarding Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding Southern Missouri Bancorp, Inc. (the “Company’), Forward-looking statements often in
Slide 3: Transaction Overview
Transaction Overview PEOPLES BANK Southern Missouri is acquiring Peoples Service Company and its banking subsidiary, Peoples Bank of the Ozarks (“Peoples Bank”), in order to strategically expand the bank’s footprint and franchise in the attractive Springfield, Missouri market. The acquisition of Peo
Slide 4: Transaction Pricing & Structure
Transaction Pricing & Structure m Aggregate deal value of $22.9 million, subject to adjustment based on PSC’s capital at closing. = Consideration mix: 50% cash / 50% stock. Southern Missouri stock valued at $33.13 per share, representing the 20-day average price immediately preceding the signing of
Slide 5: Transaction Economics
Transaction Economics Immediately accretive to earnings per share. Tangible book value dilution of approximately (3.7%) at closing. Pro forma TBV dilution earned back in four years compared to Southern Missouri’s estimated standalone TBV. Estimated pro forma capital levels exceed regulatory minimums
Slide 6: Strategic Rationale
Strategic Rationale Background on Peoples Bank m Founded in 1917, Peoples Bank operates 10 branches in Christian, Greene, Stone, Taney and Webster counties in southwest Missouri. m Eight branches are located in the economically and demographically attractive Springfield MSA. m Historical track recor
Slide 7: Pro Forma Branch Map
Pro Forma Branch Map si 77 ‘ulton ie Sedalia xdeterson @ Southern Missouri (25) ty in 2 J Missour <2 ; ~ @ Peoples Bank (10) a a thal 3 fo Slestate pelo. Beta B36 Google. INEGI Terms of Use" Reportaman ear Source: SNL Financial
Slide 8: Pro Forma Loan Composition
Pro Forma Loan Composition Southern Missouri mone: to foursfamiyressent’ se mutfamity residential ‘construction (balances outstanding} commercial ral estate magictural real estate consumer commercs! operating magicatursl operating ox a, * 3% Catezory ‘Amount ($000) 14 $ 213,882 Mutitam 63,518 Constr
Slide 9: Pro Forma Deposit Composition
Pro Forma Deposit Composition Southern Missouri (a Non-interest bearing accounts NOW accounts ‘= Money market depositaccounts imSavings accounts Reta carficates mumbo certficates (> 5250M) Brokered certificates 5 1% a6 Category ‘Amount ($000) Nom-interest $58,260 Now 253,838 MMA 26,186 savings 87,33
Slide 10: Summary and the Path Forward
Summary and the Path Forward Southern Missouri's presence in the Springfield market began with an LPO in 2010, converted to a full-service facility in 2011. At December 31, 2013, that operation accounted for loans of $128 million and deposits of $38 million. Southern Missouri expects that the branch
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