Glacier Bancorp, Inc. · NYSE:GBCI
Glacier Bancorp — Merger or Acquisition (November 2016)
12 slides from Glacier Bancorp's merger presentation, Nov 16, 2016
Slide 1: Expands into Arizona with Acquisition of TFB Bancorp
Expands into Arizona with Acquisition of November 15, 2016 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). Such forward-looking statements include but are not limited to statements about the benefits of the business combination transactio
Slide 3: Transaction Overview
Transaction Overview Glacier Bancorp will acquire TFB Bancorp, Inc. (“TFB Bancorp”) (OTC: TBBN), a Yuma, Arizona-based bank holding company for The Foothills Bank, with $316 million in assets, as of September 30, 2016 Transaction marks Glacier’s first entry into the Arizona market and the seventh Gl
Slide 4: Focused M&A Strategy
Focused M&A Strategy Source: SNL Financial
Slide 5: TFB Bancorp / The Foothills Bank
TFB Bancorp / The Foothills Bank Founded in 1997; headquartered in Yuma, Arizona Well-managed and highly regarded community bank, with strong growth and increasing market share Arizona is one of the nation’s strongest state economies 14th largest state by population with roughly 7 million residents
Slide 6: Strategic Rationale
Strategic Rationale Glacier expands into the growing Arizona market and adds one of the highest performing banks in the region Arizona market offers significant opportunities for new growth Further geographic diversification of Glacier footprint With the addition of Arizona, Glacier operates in seve
Slide 7: Attractive Economic Profile of Arizona
Attractive Economic Profile of Arizona Arizona is the 14th largest state by population with roughly 7 million residents Total GDP of Arizona was $297 billion in Q1 2016 Ranked 22nd highest in the country and 4th highest in the Western U.S.(1) Arizona has rebounded from the recession and the populati
Slide 8: Opportunity in the Arizona Market
The Foothills Bank is the third largest bank headquartered in Arizona Money center banks control more than 75% of the Arizona banking market Total deposits in Arizona grew 8.3% annually through June 2016 Tremendous opportunity for The Foothills Bank to gain market share with increased scale and abil
Slide 9: Financial Benefits
Financial Benefits TBBN has posted strong earnings despite the challenging banking environment 1.03% ROAA in 2015 and 1.25% year-to-date through September Impressive long-term growth trends, with total assets growing from $109 million in 2005 to $303 million in 2015 Glacier adds nearly $257 million
Slide 10: Key Deal Terms and Assumptions
Key Deal Terms and Assumptions Based on the closing price of $32.13 for Glacier shares on November 11, 2016 Including employment and benefits plan costs, data processing conversion costs and penalties, and combined professional and advisory fees. Includes only specific itemized cost saves that parti
Slide 11: Transaction Multiples
Transaction Multiples Note: Based on the closing price of $32.13 for Glacier shares on November 11, 2016 Calculated last twelve months’ earnings based on 9/30/2016 data Based on forecasted 2016 earnings from TBBN management Excluding one-time transaction costs and assuming 100% realization of estima
Slide 12: Concluding Observations
Concluding Observations The Foothills Bank acquisition continues Glacier’s tradition of adding high quality regional banks that fit the Glacier community banking model Unique opportunity for Glacier to enter the Arizona market Arizona is an attractive growth market and is complementary to Glacier’s
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