Canadian Imperial Bank Of Commerce · TSX:CM
Canadian Imperial Bank Of Commerce — Canadian Imperial Bank of Commerce /Can/ — Merger or Acquisition (July 2016)
14 slides from Canadian Imperial Bank Of Commerce's merger presentation, Jul 6, 2016
Slide 1: CIBC to acquire PrivateBancorp, Inc.
Exhibit 99.1 CIBC29, Enhances June to 2016 acquire CIBC’sPrivateBancorp, U.S. presence while Inc. accelerating our growth & client focused strategy
Slide 2: Forward-Looking Statements
Forward-Looking From Securities targets, similar may in risk resolution credit and third market operations; channels, ability factors undertake In relevant communication THE FILED obtain of Street, CIBC,PrivateBancorp, CIBC’s notice Information April 1statement/prospectus any connection the other ma
Slide 3: Victor Dodig, President & CEO, CIBC
Victor President CIBC Dodig & CEO
Slide 4: Transaction rationale
Transaction PrivateBancorp is commercial private franchise… …with focused and Provides …that an client opportunities The U.S. 3in athe expanded high strategy… combination banking offering short provides banking aculture quality client- CIBC’s term Robust rationale and Supports business asBuilds Chic
Slide 5: Transaction terms and pricing
Transaction $$USDCAD• $$USDUS• Consideration —24% the Approximately Pricing ratios Larry role Organizational structure 241PrivateBancorp’s Aslast U.S. as atRichman 2.2 Head premium ten Share GAAPSource: Larry times trading MarchImplied structure of(EPS) Total cash Atlantic will 18 CIBC’s will Privat
Slide 6: PrivateBancorp franchise highlights
PrivateBancorp Franchise Assets Net Return 12.5% 51Common income Strong -U.S. (LTM) under businessonSource: acquisition Presence Long Strong Previously bankingEquity highlights1 average after Administration management track risk of in by equity isthe LaSalle other ran record cultureCompany Tier taxe
Slide 7: Chicago market overview
Chicago Key Population GDP $Median income Diversified business Top $677 $340 1,029 New 2005 621(USD$B) 61.6 Metropolitan statistics York (2014 1,163 $232 – 2015 ($000s) household is overview schools CAGR Los one $171 (MM) economy $B) 2012-2014 (2016, Source:Angeles of = $$157 FDIC Key Statistical th
Slide 8: PrivateBancorp delivered consistent growth and strong returns
PrivateBancorp NIAT $2.32 $1.94 $1.57 $50 Efficiency 56 51 2013 70.90 54 1.04 $0.62 2014 $185 $153 $123 52 to1.13 Common 1.15 Ratio 2015has 2016Q1 (%) Stockholders delivered Return 2013on consistent 2014 Average (USD$MM) 2015Assets growth 2016Q1 Diluted, (%) and strong Cash returns EPS (USD)
Slide 9: PrivateBancorp commercial loan and deposit growth
Commercial PrivateBancorp 12.3% 8.8% Demand 7.3% Savings 4.4% C&I Total 73% 8Source: Loans of Loans: Deposits 40% <USD$100k PrivateBancorp’s Company 45%Money Non and USD$13.5B has Industry C&I Industrial filings; Market delivered 5%Loans Term commercial Total SNL Deposit (C&I) strong Deposits Financ
Slide 10: Diversified commercial loan portfolio with strong credit performance
TotalWholesale Manufacturing 6% Net 26% PrivateBancorp Commercial 0.05% 0.19% 0.45% 0.54% 2013?2015 Source: 964% charge loan Company portfolio: offs 3?year Retail & trade 21% Industrial /Industry has average filings; average 2% aConstruction 9% USD$13.5B diversified real Professional, loans (C&I) SN
Slide 11: Loan portfolio provides upside in rising rate environment
PrivateBancorp’s Loan Fixed Variable 96% USD$13.5B +37 USD$3.3B ?USD$14.5B ¹Source: 10 Assumes 70%+68 Effective USD$4.3B portfolio rate tied Company rate loans an to duration securities loan deposits are immediate 1-month pricing 4% non-interest asset portfolio: filings. ofportfolio: (3/31/16) LIBOR
Slide 12: Key transaction metrics and expected synergies
Since and Limited market Overview Deposit other PrivateBancorp ~12 ?After Key metrics Expected USD130MM No maintaining Anticipated Closing (including ¹Professional Q1 11 Source: CIBC’s reduction 2016 23%, cents transaction financial corporate closing 2013, products ?synergies Subject revenue earning
Slide 13: Larry Richman, President and CEO, PrivateBancorp
Larry Richman President and CEO PrivateBancorp
Slide 14: High quality U.S. banking combination
Highcombination PrivateBancorp The 13 quality U.S. Total advances of business CIBC Loans CIBC’s and banking USD$13.5B PrivateBancorp client-focused Ability AUA to service creates CIBC strategy U.S. cross-border a strong, 13Corporate andintegrated provides andLoans Robust, aand platform USD$10.6B cli
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