United Bankshares, Inc. · NASDAQ:UBSI
United Bankshares — Merger or Acquisition (June 2021)
11 slides from United Bankshares's merger presentation, Jun 3, 2021
Slide 1: United Bankshares to Acquire Community Bankers Trust Corporation
United Bankshares, Inc. (UBSI) to Acquire Community Bankers Trust Corporation (ESXB) STRATEGIC ACQUISITION STRENGTHENS UNITED’S POSITION AS ONE OF THE LARGEST AND BEST PERFORMING REGIONAL BANKING COMPANIES IN THE MID-ATLANTIC AND SOUTHEAST June 3, 2021
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and statements made by United Bankshares, Inc. (“United”) and its management contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking s
Slide 3: Strategically Compelling, Financially Attractive
STRATEGICALLY COMPELLING, FINANCIALLY ATTRACTIVE Increased Scale Poised for Continued Growth Advancing Strategy Financially Attractive Transaction Proven M&A Strategy Based on closing market capitalization as of June 1, 2021 As of respective March 31, 2021 data Assumes fully phased in cost save esti
Slide 4: ESXB Overview
MRQ Asset Quality LTM Profitability MRQ Balance Sheet ESXB OVERVIEW Company 26 locations throughout the Richmond, VA, Baltimore, MD, Washington D.C. and Lynchburg, VA markets – broadening UBSI’s footprint in Maryland and the Commonwealth of Virginia Headquarters: Richmond, VA Founded: 1926 Ticker: E
Slide 5: Pro Forma Franchise Footprint
ESXB 26 Locations $29 Billion Tangible Equity Total Deposits Net Loans Total Assets Pro Forma Franchise Footprint Pro forma High-performing Regional banking company IN THE mid-atlantic and southeast $19 Billion $23 Billion $2.7 Billion UBSI 223 Locations Source:S&P Global Market Intelligence Note:Pr
Slide 6: Transaction Overview
Transaction Valuation Pro Forma Governance Transaction Summary Per Share Purchase Price: $13.00 Aggregate Deal Value (1): $303.3 million Consideration Mix: 100% stock Fixed Exchange Ratio: 0.3173 Pro Forma Ownership: 94.8% UBSI / 5.2% ESXB ESXB CEO and President, Rex. L. Smith III, will be retained
Slide 7: ESXB Market Overview
ESXB MARKET OVERVIEW Source:S&P Global Market Intelligence; FDIC as of June 30, 2020; US Census Bureau; Fortune 500; Forbes; USA Today; Richmond Chamber of Commerce; City of Lynchburg Richmond, VA Virginia’s capital with approximately 1.3 million residents in the metro area Headquarters of four Fort
Slide 8: ESXB History of Profitability
ESXB HISTORY OF PROFITABILITY Return on Average Assets Net Interest Margin Return on Average Equity Efficiency Ratio Source:S&P Global Market Intelligence Note:Consolidated holding company data
Slide 9: Loan and Deposit Mix
LOAN AND DEPOSIT MIX UBSI Loan Mix Deposit Mix ESXB Pro Forma $18.2B Total Loans $21.4B Total Deposits $1.2B Total Loans $1.4B Total Deposits $19.4B Total Loans $22.8B Total Deposits Source:S&P Global Market Intelligence; UBSI holding company regulatory filings as of March 31, 2021; ESXB bank regula
Slide 10: Synergies, Cost Savings and Due Diligence Assumptions
Core Deposit Intangible Synergies & Cost Savings Due Diligence Loan Mark and CECL Assumptions Earnings Estimates Projections based on median consensus estimates Cost savings: 30% of ESXB’s non-interest expense base Revenue enhancements identified but not modeled 0.25% of ESXB’s non-time deposits amo
Slide 11: Successful Acquisitions Advancing Growth and Enhancing Franchise Value
SUCCESSFUL ACQUISITIONS ADVANCING GROWTH AND ENHANCING FRANCHISE VALUE Source:S&P Global Market Intelligence Closed 3Q 2011 Closed 1Q 2014 Closed 2Q 2016 Closed 2Q 2017 Closed 2Q 2020 Announced 2Q 2021
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