Cvb Financial Corporation · NASDAQ:CVBF
Cvb Financial — Merger or Acquisition (July 2021)
11 slides from Cvb Financial's merger presentation, Jul 28, 2021
Slide 1: Acquisition of Suncrest Bank
Acquisition of Suncrest Bank July 27 2021 Exhibit 99.6
Slide 2: Forward Looking Statements
Forward Looking Statements Certain matters set forth in this presentation (including the accompanying oral presentation) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s pe
Slide 3: Transaction Overview
Transaction Overview Suncrest is a growing commercial bank with a diverse loan portfolio and foundation of strong customer relationships Expansion North into Sacramento – one of California’s largest deposit markets Deeper penetration in existing Central Valley markets Low execution risk with conside
Slide 4: Consistent with Our Growth Strategy
Consistent with Our Growth Strategy In-Market and / or Adjacent Geographic Market (California) Financial & Strategic Target Asset Size – $1.0bn to $8.0bn San Diego (2014, 2017) Oxnard (2015) Santa Barbara (2015) Stockton (2018) Modesto (2020)
Slide 5: Suncrest Bank Overview
Suncrest Bank (OTCQX: SBKK) Overview Branch Locations Company Description Financial Highlights Deposit Market Share Suncrest was established in 2008 in Visalia, CA Located in California’s Central Valley: operates out of seven full service branches, and two loan production offices stretching across C
Slide 6: Combination Creates Impactful Expansion and Strengthens Core Franchise
Added scale and greater efficiency Entry into Sacramento a large and growing market which positions us for organic and strategic growth Strengthens presence in the Central Valley 2 Suncrest branches (29%) within 5 miles of an existing CVB Financial branch Pro Forma Company Overview Combination Creat
Slide 7: Transaction Overview
Transaction Overview Consideration Pro Forma Ownership Due Diligence Required Approvals Anticipated Closing 4th quarter 2021 / 1st quarter 2022 In exchange for each Suncrest share: 0.6970x CVBF shares and $2.69 cash $204 million aggregate transaction value or $16.18 per Suncrest share¹ Suncrest in-t
Slide 8: Pro Forma Assumptions and Impacts
Pro Forma Assumptions and Impacts Financial Impacts TBV Dilution (0.8%) TBVPS Earn back <1.75 Years EPS Accretion 2022 3.3% EPS Accretion 2023 3.5% Capital Levels RBC > 15% Forecasts CVBF forecast based on mean consensus analyst earnings estimates SBKK forecast as provided by SBKK management, adjust
Slide 9: CVB Financial Corp. Growth / Acquisition History
CVB Financial Corp. Growth / Acquisition History Total Assets ($mm) Note: Pro forma total assets as of June 30, 2021; SBKK financial data as of the quarter ending March 31, 2021; Excludes purchase accounting adjustments Source: S&P Global Market Intelligence = Acquisitions Community Bank $3.7bn Amer
Slide 10: Pro Forma Loan and Deposit Composition
Pro Forma Loan and Deposit Composition (Reg.) Deposit Composition Loan Composition CVBF ($8.1bn) SBKK ($0.9bn) Pro Forma ($8.9bn) ( MRQ Yield on Loans & Leases: 4.45% CVBF ($12.7bn) ($ SBKK ($1.2bn) ($ Pro Forma ($13.8bn) ( MRQ Cost of Deposits: 0.05% MRQ Cost of Deposits: 0.19% MRQ Cost of Deposits
Slide 11: Executive Summary
Executive Summary $204 million stock and cash acquisition is second largest acquisition in CVBF history and fifth acquisition since 2012 Suncrest is a growing commercial bank with a diverse loan portfolio and quality customer relationships Entry into Sacramento – one of California’s largest deposit