Ocean Shore — IPO Roadshow (November 2009)
21 slides from Ocean Shore's IPO roadshow presentation, Nov 19, 2009
Slide 1: Ocean Shore Holding Co. Second-Step Conversion (OSHC)
OCEAN SHORE SECOND-STEP (OSHC) 1November 2009 CONVERSION HOLDING CO.
Slide 2: Disclaimer
Thisshares DISCLAIMER Shore “anticipates,” actual products Securities obligation Ocean registration SEC 2The agency. presentation website Holding results Shore and and to of statement update Holding pricing, at include common “intends” Exchange Co. www.sec.gov may (the any changes loan and Co. conta
Slide 3: Transaction Overview
ISSUER: PRICE PRICE/ SHARES GROSS PRO EXCHANGE CO-MANAGERS: EXPECTED 3TRANSACTION FORMA PER PRO PROCEEDS: Ocean OFFERED: SHARE: PRICING: FORMA /SHARES SYMBOL: Shore STRUCTURE: OVERVIEW Sandler $8.00 4,186,250 $33.5 TBV Holding December OUTSTANDING: NASDAQ O’Neill PER million Co. (minimum) SHARE: Sec
Slide 4: Company Introduction
COMPANY INTRODUCTION Parent Mutual Public Local Eight Since Currently Experienced Steven Kim Donald Anthony Janet Significant 4¹Pro Financial forma M. Bossi, full IPO, bank company shareholders E. holding F. Davidson, J.service well-capitalized, Brady, Morgenweck, ownership information has investmen
Slide 5: Our Mission Is to Continue as a Profitable Community-Oriented Financial Institution
COMPANY OUR Attract Emphasis Selectively Asset Maintain Strong 59.5% ¹Our 5Source: Financial customers goal MISSION quality of emphasis and Company is quality total on data pursue to retain OVERVIEW the key create deposits are as IS origination of on to customers Form of consumers, opportunities TO
Slide 6: Market Area Overview
MARKET COMPANY Tourism Employment Casino Remaining Demographic 2009 Housing Recent Average -New 6Sources: Population: Median home influx expansion, home continues market Demographic AREA employment prices OVERVIEW dominated HH of trends price aretirees 374,793, income: mix in along toinQ209: beof At
Slide 7: Competitive Position: Deposit Market Share
COMPANY COMPETITIVE June Deposits Branch 98654321Rank 10 11 12 13 14 15 16 17 18 19 20 Total Provides 7¹Note: Total Toronto-Dominion Wells Bank Cape Sun PNC Ocean Sturdy Susquehanna Absecon Sea Crest Parke CBHC Hudson Fox Fulton JJR Franklin Newfield 30, deposits Institution Deposit Bancorp deposits
Slide 8: Financial Highlights
FINANCIAL Gross $800 $630 $200 $400 $750 CAGR $500 $530 $250 $342 Deposits Total $600 $450 $456 $150 $300 $80 2004 $0 $20 $40 $60 8Note: CAGR $61 Assets $743 $528 $659 $414 CAGR $415 2005 Equity CAGR Loans =$63 ($mm) 7.4% 14.8% $544 $435 $417 2006 =($mm) ($mm) $63 =for 2.6% HIGHLIGHTS 5.4% $678 $597
Slide 9: Loan Portfolio Highlights
FINANCIAL LOAN Primary No Ten-year Because Approximately Construction Home Other Commercial One-to-four 9¹Note: CAGR subprime Data Consumer Equity PORTFOLIO lending for of CAGR¹ as our the family Family 2.9% and 1.4% loans HIGHLIGHTS 9.5% oflocation, 40% 9.75 activity September Multi-family Loans of
Slide 10: Securities Portfolio Highlights
FINANCIAL SECURITIES At securities TRUP Remainder Federal Municipal Corporate Equity Pass-Through Note: 10 September Data CDOs Securities Agencies issued 16.98% Securities as of written HIGHLIGHTS of portfolio 30, Mortgage-Backed PORTFOLIO September by 0.04% 2.72% 2009, other 4.70% down primarily ap
Slide 11: Asset Quality Highlights
FINANCIAL ASSET Strong During At Loan Historical Non-Performing Net 1.50% 0.13% 2000 11 September Charge-Offs 2001 loss 1.00% 0.05% credit the QUALITY reserves Asset 2002 9.75 quality HIGHLIGHTS 0.50% 0.23% 30,years Quality 2003 Loans / 2009, Average to history 0.00% 0.13% gross ended 2004 /non-perf
Slide 12: Funding Sources Highlights
FINANCIAL FUNDING Deposits Steady Ten-year Core No Approximately Total Savings Noninterest-bearing Trust FHLB CDs Interest-bearing ²¹Note: 12 CAGR Core brokered 32.4% deposits² borrowings Preferred Data deposits Borrowings growth Accounts for account CAGR¹ as SOURCES the deposits HIGHLIGHTS of compr
Slide 13: Strong Bank Capital Position
FINANCIAL STRONG BANK Tang. 11.3% Core 15% 11.6% Total 9.3% 25% 2004 20.4% Notes: -equal Source: 13 Tangible Company Pro 12% 20% Capital forma 2005 Risk-Based to Common 11.1% 10.7% 19.7% CAPITAL SNL total 9% 15% CAPITAL common 2006 completed capital /Financial common 11.1% HIGHLIGHTS 10.5% 18.9% 6%
Slide 14: Historical Profitability Highlights
FINANCIAL HISTORICAL Net $20,000 $18,826 Provision $1,000 $261 $3,000 $2,819 Other $15,000 $14,265 2005 ¹Note: 14 Excludes Interest $373 2006 YTD Income¹ Expenses $750 $2,500 $2,622 $17,000 $16,287 $12,500 $12,806 ($000) impairment $300 2007 data Income $500 HIGHLIGHTS $2,000 $2,316 ($000) PROFITABI
Slide 15: Building Shareholder Value
FINANCIAL BUILDING Core $0.60 $0.55 Tangible $10.00 $7.54 Dividends $0.20 $0.00 Dividend 4.00% 0.00% 2005 ¹Note: ²See 15 Core Market page Earnings 2006 YTD $0.50 $0.44 $7.74 $0.15 $0.00 earnings 3.00% 0.00% $8.00 data Book 19 Yield Per 2007 data $0.40 $0.36 $8.11 $0.10 $0.00 for SHAREHOLDER $6.00 HI
Slide 16: Offering Objectives
OFFERING While The Dividend Current 16 increase full currently market stock waiver OBJECTIVES incompany conditions shares well-capitalized, rules,outstanding holding corporate provide company the structure and theadditional opportunity change regulation, willincapital provide corporate toconversion
Slide 17: Pro Forma Offering Information
OFFERING PRO Number 0.8793x Pro Peers² Price/Pro ²¹Note: 17 Core Peer Forma FORMA Pricing group earnings ofForma Tangible Shares Shares INFORMATION selected ratios FINANCIAL defined Tangible LTM Outstanding Offered Issued based Equity Book by Core as independent to Book on Value net Minimum to Earni
Slide 18: Investment Highlights
INVESTMENT Fundamental HIGHLIGHTS Growing Attractive Conservative Proven Local, dividend 18 experienced track payment franchise branch record franchise credit OPPORTUNITY footprint and in Board culture ofattractive yield growth value and with and Positioned management and markets profile strong prof
Slide 19: Appendix
19 APPENDIX
Slide 20: Non-GAAP Financial Measures
NON-GAAP APPENDIX costs for A For Reported (Gain)/loss Adjustments: Impairment Tax Average Core Note: 20reconciliation an the impact net earnings from Dollars analysis Twelve diluted income net reported on at charge income FINANCIAL in 35.0% is per securities based Months shares of thousands, a$3,07
Slide 21: Ocean Shore Holding Company
OCEAN SHORE HOLDING COMPANY