Seacoast Banking Corporation Of Florida · NASDAQ:SBCF
Seacoast Banking Corporation Of Florida — Seacoast Banking Corp of Florida — Merger or Acquisition (November 2015)
11 slides from Seacoast Banking Corporation Of Florida's merger presentation, Nov 3, 2015
Slide 1: Acquisition of Floridian Financial Group, Inc.
DD Acquisition of Floridian Financial Group, Inc. For more information, contact: Denny Hudson Chief Executive Officer Phone: 772 - 288 - 6086 Email: Denny.Hudson@SeacoastBank.com Steve Fowle Chief Financial Officer Phone: 772 - 463 - 8977 Email: Steve.Fowle@SeacoastBank.com November 3, 2015 Exhibit
Slide 2: Cautionary Statements
Cautionary Statements 2 Important Information for Investors and Shareholders This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitati on of any vote or approval, nor shall there be any sale of securities in any jurisdiction in whic
Slide 3: Transaction Highlights
Transaction Highlights 3 Compelling Strategic Rationale Strong Financial Results Continued expansion of presence in large attractive Orlando market – reinforces top 10 position in Orlando MSA with almost $1 billion in deposits Builds on prior acquisition of BANKshares and BMO Harris branch acqui
Slide 4: Summary of Selected Terms
Floridian Bank Summary of Selected Terms 4 Transaction Value: Implied consideration of $12.25 per Floridian common share or $76.5 million in aggregate Form of Consideration: 65% stock and 35% cash 0.5291 shares of SBCF common stock and $4.29 in cash 1 based on 10 - day average closing price of
Slide 5: Overview of Floridian Financial
Floridian Bank Overview of Floridian Financial 5 Loan & Deposit Composition 1 - 4 Family 12.4% Multi - Family 2.0% C&D 14.5% C&I 12.3% CRE - Owner - Occupied 36.7% CRE - Non - Owner - Occupied 21.2% Consumer 1.1% Transaction Accounts, 33.1% Savings & Money Mkt, 39.0% Retail CDs, 25.7% Jumbo CDs, 2.1
Slide 6: Pro Forma Retail Franchise With BMO Harris Branch and Floridian Financial Acquisitions
Floridian Bank Pro Forma Retail Franchise With BMO Harris Branch and Floridian Financial Acquisitions 6 Floridian Financial (10 branches ) BMO Harris (14 branches) SBCF ( 45 branches) Orlando, 26.4% Port St. Lucie, 32.4% Miami - West Palm, 12.8% Vero Beach, 6.6% Palm Bay, 5.4% Top 5 Pro Forma SBCF M
Slide 7: 2015 Acquisition of Floridian Continues Expansion in Attractive Orlando MSA
Floridian Bank Rank Institution Deposits ($MM) Market Share 1 EverBank Financial 16,601 3.4% 2 BankUnited Inc. 12,510 2.6% 3 FCB Financial Holdings Inc. 4,470 0.9% 4 CenterState Banks 3,885 0.8% 5 Seacoast (pro forma BMO Harris & Floridian) 3,535 0.7% 5 Seacoast 2,800 0.6% 6 Ocean Bankshares Inc. 2,
Slide 8: Orlando's Economy Remains Strong and Growing
Floridian Bank 0.0% 2.0% 4.0% 6.0% Baltimore, MD Atlanta, GA Dallas, TX San Francisco, CA Portland, OR San Diego, CA Seattle, WA Riverside, CA Orlando, FL San Jose, CA 7.8% 5.6% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% Projected Change 2016 - 2021 (%) 11.2% 10.8% 9.0% 7.8% 6.0% 5.1% 5.1% 3.
Slide 9: Pro Forma Financial Impact
Floridian Bank Pro Forma Financial Impact 9 ‣ Attractive financial returns: ‣ 2016 EPS accretion of $0.02 excluding one - time charges and $0.07 - $0.09 accretion in 2017 and beyond ‣ $0.34 dilution of tangible book value per share (1) with earn - back of 4.2 years using crossover method ‣ Internal
Slide 10: Attractive Pricing to Florida Market Deals
Floridian Bank Attractive Pricing to Florida Market Deals 10 Deal Metrics Deal Value $76.4 $89.6 Price/ Book 1.40x 1.46x Price/ Tangible Book 1.40x 1.51x Target Financials (MM) Total Assets $426 $524 Total Deposits $361 $426 Peer Florida Deals (1) (1) Peer median consists of whole bank and thrift M&
Slide 11: Summary
Floridian Bank Summary 11 ‣ Strategic continued expansion into Orlando for deeper penetration ‣ Strengthens overall franchise in Florida ‣ Floridian Financial franchise complements Seacoast footprint with similar disciplined credit culture and customer focus ‣ History of successful consolidations wi
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