Peoples, Ltd. · OTC:PPLL
Peoples — Merger or Acquisition (February 2004)
13 slides from Peoples's merger presentation, Feb 20, 2004
Slide 1: Acquisition of Renasant Bank
The Peoples Holding Company Acquisition of BANK February 17, 2004 The Peoples Holding Company 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities law. These forward-looking statements include, but are not limited to, statements about (i) the benefits of the merger between The Peoples Banking Company (“PHC”) and Renasan
Slide 3: Forward-Looking Statements
Forward-Looking Statements Factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements include, among others, the following possibilities: (1) we may be unable to obtain required shareholder or regulatory approval; (2) competitive pre
Slide 4: Proposed Transaction Overview
Proposed Transaction Overview ‘TRANSACTION SUMMARY «© Renasant shareholders wil have the option to ect either: (1.117015 shares of PHC common sock, (i $36.37 pershare in cash or (i) acombination of 45% cash and 55% comamon stock, © Consideration to be received by Renasant shareholders is subject to
Slide 5: Strategic Rationale
Strategic Rationale Franchise Accretive © Complements existing franchise © Allows for expansion into new, demographically attractive markets Significant opportunities for revenue enhancement Desirable Risk Profile Familiarity with management © Management execution risk Right size acquisition The Peo
Slide 6: Overview of Renasant Bancshares, Inc.
Overview of Renasant Bancshares, Inc. nancial Highlights Hedquates Gemeantown, TH Branches 2 Full Service), 1 (LPO) Total Assets $2622 Deposits ie5t@ Tob Loans 74. Loans J Deposits 3m % Buty Assets 18 FORA on% FORE oan NotIntevest Margin 3@ Biieney Ratio that yi NPAs! Assets ox ba A Reserves! Loans
Slide 7: Pro Forma Franchise
Pro Forma Franchise BALANCE SHEET s1aigom 1153981 964,295 Biracren A Ronse Dulsonio Banh Dl RaneareLoen Potcvn OFce Pio matahac ae dow mt ine push comping mant The Peoples Holding Company 7 a
Slide 8: Assumptions
Assumptions Consideration Mix © 50% of Renasant common shareholders receive $35.58 per share in stock (based on PHC's 2/13/04 close of $31.85 and exchange ratio of 1.117015) © 50% of Renasant common shareholders receive $36.37 per share in cash (fixed) Renasant options and warrants are rolled over F
Slide 9: Assumptions: Expense Savings & Revenue Enhancements
Assumptions 1 Expense Savings & Revenue Enhancements Expense Savings - None in 2004, equal to 10.00% of Renasant's noninterest expense in 2005, and grown 5.0% in 2006 Revenue Enhancements - None in 2004, equal to $392 thousand in 2005, equal to $736 thousand in 2006 1 Deal related charges equal to a
Slide 10: GAAP EPS Impact
GAAP EPS Impact. (Thousands Esept per Share) 2004E* __200SE__2006E PHC GAAP EPS * "6 $235 $254 $274 PHC Net Income $19,315 $ang60 $22,529 Renasant Net Income 978 2409 3.083 ‘After-Tar Interest Expense (427) (854) (854) After-Tex Amortization of Deal CDI (302) (540) (424) Combined Net Income $9,563 $
Slide 11: EPS Excluding Intangible Amortization
EPS Excluding Intangible Amortization (Thousanls Except per Share) 2004E* —_2005E__2006E. PHC EPS * 6 $238 $2.57 $2.74 PHC Net Income ** $19,589 $21,119 $22,529 Renasant Net Income 978 2409 3,083 After-Ter interest Expense 27 (854) (854) Combined Net Income ** 19 «$604 424.757 After-Tex Expense Savi
Slide 12: Projected net income and intangible amortization adjustments
The following table presents projected net income for the periods as well as adjustments for the exclusion of core deposit intangible amortization and other intangibles amortization (Thousands Except per Share) 2004E* —_2005E_—_2006E Projected combined GAAP EPS $2.5 $2.46 $2.77 Intangible amortizati
Slide 13: Other Matters
Other Matters: This presentation shall not constitute an offer of any securities for sale. The proposed transaction will be submitted to Renasant shareholders for their consideration. Peoples and Renasant will file a registration statement, including a proxy statement/prospectus and other relevant d
Peoples Holding — Merger or Acquisition (February 2004) on 6ix