Horizon Bancorp, Inc. · NASDAQ:HBNC
Horizon Bancorp — Merger or Acquisition (May 2017)
11 slides from Horizon Bancorp's merger presentation, May 24, 2017
Slide 1: Horizon Enters Lafayette Through Strategic Merger
Horizon Enters Lafayette Through Strategic Merger
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of Horizon Bancorp and its affiliates (collectively, “Horizon”). For these statements, Horizon claims the protection of the saf
Slide 3: Additional Information for Shareholders
ADDITIONAL INFORMATION FOR SHAREHOLDERS In connection with the proposed merger, Horizon will file with the SEC a Registration Statement on Form S-4 that will include a Proxy Statement of Lafayette Community Bancorp (“Lafayette” or “LFYC”) and a Prospectus of Horizon (the “proxy statement/prospectus”
Slide 4: Lafayette Community Bancorp (LFYC) Company Profile
* Lafayette Community Bancorp (LFYC) Company Profile Headquartered in Lafayette, IndianaExperienced leadership team with deep community tiesStrong commercial loan growth since 2012 (15.2% CAGR)Continued asset quality improvement since 20125th in deposit market share in Tippecanoe CountyFour branches
Slide 5: Compelling Rationale
* Compelling Rationale Strategic Financial Fills market gap between Indianapolis and Northern IndianaExperienced leadership team retainedHigh quality lending team with big bank experienceScalable platform in the high growth market of Tippecanoe County, IndianaPotential to capture market share from l
Slide 6: Tippecanoe County Deposit Market Share
* Tippecanoe County Deposit Market Share – 2016 Deposit Market Share – 2016 Deposit Market Share – 2016 Deposit Market Share – 2016 Rank Institution Deposits ($000s) Market Share 1 JPMorgan Chase $701,835 29% 2 First Merchants 510,925 21% 3 Regions 296,336 12% 4 Old National 257,117 11% 5 Lafayette
Slide 7: Merger Summary
* Merger Summary Consideration Mix 90% stock, 10% cash for common and options cashed out Consideration Structure 0.5878 HBNC shares and $1.73 in cash for each outstanding share of Lafayette common stock Aggregate Deal Value (1) $32.0 million$33.5 million (2) Required Approvals Customary regulatory a
Slide 8: Transaction Assumptions
* Transaction Assumptions Category Assumption Cost saves 35% fully phased-in, 75% realized in 2017 1x after-tax charges $1.7 million Non-accretable loan mark $2.0 million or 1.4% of total loans Accretable loan mark $1.4 million or 1.0% of total loans Core deposit intangibles $1.7 million or 1.5% of
Slide 9: A Company on the Move
A Company on the Move * Assets ($ Mil.) $721 $3,341(1) Loans($ Mil.) $548 $2,269(1) Deposits($ Mil.) $489 $2,593(1) OrganicExpan.(11) St. JosephS. BendElkhart Lake County Kalamazoo Indianapolis Carmel Ft. WayneGrand Rapids Noblesville, IN(2)Columbus, Ohio(3) M&A(12) Anchor Mortgage Alliance American
Slide 10: Growth Opportunities Abound
Current BranchesLoan Production OfficesNew Offices in 2017Acquired LFYC BranchesGrowth MarketsEmerging Markets * GrandRapids AnnArbor Columbus NorthwestOhio FortWayne Battle Creek Lafayette Kalamazoo SouthBend Warsaw Indianapolis NorthwestIndiana HQ Growth Opportunities Abound
Slide 11: Contact
If you have questions please contact:Mark SecorChief Financial Officer515 Franklin SquareMichigan City, IN 46360(219) 873-2611