Banco De Credito E Inversiones · BCS:BCI
Banco De Credito E Inversiones — Merger or Acquisition (September 2019)
13 slides from Banco De Credito E Inversiones's merger presentation, Sep 25, 2019
Slide 1: City National Bank of Florida: Acquisition of Executive Banking Corporation
City National Bank of Florida Acquisition of Executive Banking Corporation Investor Relations Department | Email: Investor_Relations_Bci@Bci.cl September 25, 2019
Slide 2: Contents
Contents. Transaction Rationale Overview of Executive and Combined Institution Appendix 2
Slide 3: Transaction Rationale
Bci Investor Relations Transaction Rationale
Slide 4: Transaction Rationale
Transaction Rationale Strategic Part of Bci’s internationalization strategy which started in 2015 after the acquisition of City National Bank of Rationale Florida (“City National” or “CNB”) CNB further strengthens its presence in South Florida and improves upon its already dominant market share foll
Slide 5: Transaction Overview
Transaction Overview Consideration US$ 75.0 million total consideration to Executive Banking Corporation 100% cash consideration Implied 1.75x Executive’s June 30, 2019 as-converted tangible book value¹ Pricing 22.2x Executive’s LTM earnings as of June 30, 2019 Multiples 8.2x Executive’s LTM earning
Slide 6: Market Highlights
Market Highlights Florida Market Observations Favorable Underlying Economic and Demographic Data In 2018, Florida’s growth in real GDP YoY %▲ in Unemployment Rate Population by State strengthened and remained above the USA FL Miami MSA 50 40 national average (3.5% vs. 2.9%) 0% 40 Population (M) Seas
Slide 7: Overview of Executive and Combined Institution
Bci Investor Relations Overview of Executive and Combined Institution
Slide 8: Executive Banking Corporation Franchise Overview
Executive Banking Corporation Franchise Overview Franchise Overview Historical Financial Performance (Dollars in US$ Thousands) Year Ended December 31, YTD as of Privately-held community bank in Miami, which offers a comprehensive range of traditional banking products and services 2017 2018 6/30/201
Slide 9: Executive Banking Corporation at a Glance
Executive Banking Corporation at a Glance Revenue Breakdown as of June 30, 2019 (YTD) Balance Sheet as of June 30, 2019 Assets Liabilities & Equity US$ 457M US$ 457M 0.5% 2.5% Total Deposits CRE Net Loans 10.9% 22.8% Residential Equity Capital 6.2% Securities Investments 82.8% 84.0% FHLB Advances 5.
Slide 10: Pro Forma Franchise Overview
Pro Forma Franchise Overview Pro Forma Franchise Overview Pro Forma Branch Footprint US$ 15.5 billion assets and increased market presence; 100% of Executive (3) Executive’s branches are within 2 miles of a CNB branch CNB (32) o #2 Florida-headquartered commercial bank¹ in Miami MSA US$ 11.0 billion
Slide 11: Combination Analysis: CNB + Executive
Combination Analysis: CNB + Executive YTD as of June 30, 2019 (Dollars in US$ Millions) CNB Executive Pro Forma¹ Financial Assets 97% 3% $15,052 $457 $15,509 Gross Loans 97% 3% $10,631 $383 $11,014 Deposits 97% 3% $11,806 $384 $12,190 Net Income 98% 2% $77.2 $1.7 $78.9 Operational # of Branches 91%
Slide 12: Appendix
Bci Investor Relations Appendix
Slide 13: Overview of Bci and City National Bank of Florida
Overview of Bci and City National Bank of Florida Over US$ 63 billion in assets as of June 30, 2019 Over 73 years of experience in Miami-Dade, Broward, Palm o Largest bank in Chile by total assets Beach and Orange counties in Florida; 838 employees at 32 branches Listed on the Santiago Stock Exchang
Banco de Crédito e Inversiones (Bci) — Merger or Acquisition (September 2019) on 6ix