Banc Of California, Inc. · NYSE:BANC
Banc Of California — First Pactrust Bancorp — FBR Investor Conference 2010
24 slides from Banc Of California's conference presentation, Nov 30, 2010
Slide 1: First PacTrust Bancorp, Inc. FBR Investor Conference
FIRST PACTRUST BANCORP, INC? First PacTrust Bancorp, Inc. FBR Investor Conference November 30, 2010
Slide 2: Important Disclosures
Important Disclosures A <- Sac FIRST PACTRUST BANCORP, ING: Forward-Looking Statements These materials contain various forward-looking statements that are based on assumptions and describe our future plans and strategies and our expectations, These forward-looking statements are generally identified
Slide 3: Important Disclosures (Cont.)
Important Disclosures (Con! a FIRST PACTRUST Financial Projections This presentation contains projections of financial performance. Such projections are, by nature, based on anticipating future events that cannot be predicted with accuracy and there is no assurance that the projections can or will b
Slide 4: Mik
Mik a = FIRST PACTRUST BANCORP, INC: © Formed in 1941 as Rohr Federal Credit Union = Converted to Mutual S&L Charter in 2000. Initial Public Offering in 2002 as First PacTrust Bancorp (‘FPTB’) Operating strategy focused on portfolio lending. Largest federally chartered community bank in San Diego co
Slide 5: Who are we?
Who are we? Me FIRST PACTRUST BANCORP, INC: Established Franchise = Parent of Pacific Trust Bank » Founded in 1941 with 69 years of Ranking for Largest Community Bank Frand San Diego by Assets * MosT NAME (CHARTERTYPE) 12/31/2007 12/31/2008 12/31/2009 _ RECENT continuous operations (public since 200
Slide 6: Investment Thesis
Investment Thesis Capital a Management Community banks with strong and scalable balance sheets, solid capital levels with access to capital markets, and proven management teams with skills in achieving organic and acquisitive growth will thrive in the current economic and regulatory environment and
Slide 7: Capital
we FIRST PACTRUST BANCORP, ING: Capital + First PacTrust Bancorp and Pacific Trust Bank far exceed regulatory capital standards + Completed $60 million private placement on November 1, 2010 with TCW Special Situations as lead investor + Placement completed at $11.00 per share or 78.5% of pro forma t
Slide 8: Asset Quality as of 9/30/10
wie a : FIRST PACTRUST Asset Quality as of 9/30/10 BANCORP, ING: * $862 million in assets Loan Breakdown as of 9/30/10 * $706 million in total loans « Balance sheet is strong and scalable leaving Pacific Trust Bank with the Commercial RE ang Consumer ability to grow in key product areas. Am 25% cal
Slide 9: Management team
Me FIRST PACTRUST BANCORP, INC: Gregory Mitchell President & CEO (Bancorp) 25 + Hans Ganz President & CEO (Pacific Trust Bank) 25+ Matt Bonaccorso EVP & Chief Credit Officer 30 + Richard Herrin EVP & Chief Administrative Officer 20+ Strategic Operations Gaylin Anderson EVP & Chief Retail Banking Off
Slide 10: Earnings
Bia Earnings FIRST PACTRUST Solid earnings fundamentals » Q3 earnings of $0.66 per share verses consensus estimate of $0.11 » Net interest margin 4.13% for the quarter ended 9/30/2010 » Driven by lower funding costs and conversion of non-performing loans into earning assets. « Efficiency ratio of 44
Slide 11: Deposits and economic factors
Se sen : . FIRST PACTRUST Deposits and economic factors BANCORP, ING: Pacific Trust Bank enjoys a stable funding base and significant opportunities for growth in core banking banking relationships, low cost deposits and increased levels of fee income « Largest federally chartered community bank head
Slide 12: Bank's Primary Market Area Recovering
Bank’s Primary Market Area Recovering a FIRST PACTRUST First PacTrust's primaty market area of San Diego has exhibited strong recovery tates in home prices. i San Diego Market San Diego County Home Prices '* = Leading Southern isa California recovery sisi)” highest home 0% Farner | price increase (1
Slide 13: Why Invest in First PacTrust Bancorp?
Yee or FIRST PACTRUST Why Invest in First Pac Trust Bancorp? Attractive valuations — Trading at 82% of tangible book verses 139% of tangible book value for peers. « Strong dividend — 3.47% dividend based on 11/24/10 trading price « Rational business plan that is expected to produce solid returns for
Slide 14: Appendix
Appendix
Slide 15: Current Stock Price Relative to Peers
Current Stock Price Relative to Peers Me FIRST PACTRUST FPTB's current trading price of $11.50 (82% of TBV) is at a significant discount to peers Market Valuation of Comparable Banks “) Assets, Raised > $30m since 1/2009 Stock Price / Company Name State Price ($) TBV (3) TBv Bank of Kentucky Financi
Slide 16: Branch locations
16 om Temecula Branch Riverside Branch Rancho Bernardo Branch EI Cajon Branch, Chula Vista Main Branch, Chula Vista Admin Certer
Slide 17: Pacific Trust Bank Loan Composition
Pacific Trust Bank Loan Composition > ae FIRST PACTRUST Pacific Trust Bank's loan portfolio consists predominantly of 1-4 family loans making up 84% of the Bank's gross loans. Loan Locations Loan Breakdown as of 930/10 och AS Nevada ° oF acesen cry 6 Seta Ros Qos 00 Sezarento consumer PRIMA coca Cea
Slide 18: Non-Performing Asset Overview as of 9/30/10
Yc Non-Performing Asset Overview as of 9/30/10 FIRST PACTRUST Of the $58.1 million in NPAs, nearly 43% are TDRs and the $7.8 million in REOs consist of 6 properties. ( Non-Performing Asset Analysis $60.0 $50.0 $40.0 = a $30.0 $25.4m ($17.6m) $20.0 | $10.0 = sul $5.0m $0.0 | Current Non- Non- Loan Lo
Slide 19: Non-Performing Loans (NPLs) as of 9/30/10
Non-Performing Loans (NPLs) as of 9/30/10 an FIRST PACTRUST Non-Performing Loans (NPLs # of Average Loan Loan Type Loans Book Value Size 7 = Pacific Trust Bank has 37 credits that 1-4 Family Subtotal 25 $15,536,740 $621,470 are currently non-performing for a total balance of $25.4 million Multi-Fami
Slide 20: Troubled Debt Restructurings (TDRs) as of 9/30/10
Me FIRST PACTRUST Troubled Debt Restructurings (TDRs) as of 9/30/10 Non-Performing Loans (TDRs} Loan Type # of Loans Book Value Average Loan Size 1-4 Family Subtotal 20 $10,309,914 $515,496 Multi-Family Subtotal 2 8,501,677 4,250,839 CRE Subtotal - - - C&l Subtotal 5 5 a Land Subtotal 3 5,948,400 1,
Slide 21: OREOs as of 9/30/10
Bie OREOs as 9/30/10 FIRST PACTRUST BANCORP, INC: «Pacific Trust Bank holds 6 OREO assets with a net value of $7.8 million . Satay assets are for SFR (all have been appraised in «= 4 SFR are located in San Diego and 1 is located in Rancho Santa Fe = 2 SFR are currently in escrow to be sold, an anoth
Slide 22: Securities Overview
Ye Securities Overview FIRST PACTRUST BANCORP, ING: Irvestmert Posfotio @oseor010 Lovest Maturity Est.tug—_Origral=—Caupen—ParfPircipal Purchase Book urent life” Eaceiiue Rate value bse Yield «= Beale (Goverrmertigeney Secures: S128KTMNI FHLMC Note AeA 050501108 Years _Spoopo0 35008 spoopoo _to42is0
Slide 23: Non-GAAP Financial Information
Non-GAAP Financial Information a FIRST PACTRUST This presentation contains certain financial information determined by methods other than in accordance with accounting principles generally accepted in the United States ("GAAP"). These non-GAAP financial measures include tangible common equity, tangi
Slide 24: Non-GAAP Financial Information (Cont.)
Bie Non-GAAP Financial Information (Cont.) FIRST PACTRUST BANCORP, INC: The following table presents a reconciliation of tangible common equity per share to stockholders’ equity per share As of 9130110 Pro Forma Stockholders’ equity per share $ 23.29 $ 14.01 Less: Effect of intangible assets 0.00 0.
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