CIB Marine Bancshares, Inc. · OTC:CIBH
CIB Marine Bancshares — Shareholder Meeting (May 2008)
26 slides from CIB Marine Bancshares's shareholder meeting presentation, May 29, 2008
Slide 1: Welcome Shareholders
May 29, 2008 Welcome Shareholders
Slide 2: Annual Meeting of Shareholders
Annual Meeting of Shareholders
Slide 3: Forward-Looking Statements
Statements made today during this annual meeting of shareholders and in the following presentation contain forward-looking information, including our discussions concerning our strategic options and the pending sale of the Citrus Bank branches. Actual results could differ materially from those indic
Slide 4: Meeting Called to Order
Stanley J. Calderon, Chairman Meeting Called to Order
Slide 5: Introductions
Board of Directors Management Guests Introductions
Slide 6: Election of Directors
Class I: Serve Until 2009 Norman E. Baker W. Scott Blake Donald M. Trilling Class II: Serve Until 2010 John P. Hickey, Jr. Charles E. Baker Howard E. Zimmerman Class III: Serve Until 2011 Stanely J. Calderon Steven C. Hillard Gary L. Longman Election of Directors
Slide 7: Presentation to Shareholders
Stanley J. Calderon, Chairman Presentation to Shareholders
Slide 8: Financial Performance
Edwin J. Depenbrok, Chief Financial Officer Financial Performance
Slide 9: 2007 Consolidated Financial Highlights
CIB MARINE BANCSHARES, INC. (dollars in millions) 2007 Consolidated Financial Highlights 2007 2006 Diluted earnings (loss) per share from continuing operations (0.83) $ (0.54) $ Discontinued operations 0.08 0.03 Net loss (0.75) $ (0.51) $ Net Interest Income 22,627 $ 23,267 $ Provision 6,413 (4,384)
Slide 10: 2007 Consolidated Financial Highlights: Key Ratios
CIB MARINE BANCSHARES, INC. 2007 Consolidated Financial Highlights 2007 2006 Key Ratios and Other Data: Net interest margin 2.40% 2.29% Noninterest income to average assets 0.33% 0.47% Efficiency Ratio 132.37% 148.38% Loss on average assets -1.41% -0.88% Loss on average equity -20.11% -12.78% Non pe
Slide 11: 2008 Unaudited Financial Highlights
CIB MARINE BANCSHARES, INC. (dollars in millions) 1 st Quarter 2008 Unaudited Financial Highlights 2008 2007 Diluted earnings (loss) per share from continuing operations (0.15) $ (0.12) $ Discontinued operations - 0.02 Net loss (0.15) $ (0.10) $ Net Interest Income 6,021 $ 5,552 $ Provision Noninter
Slide 12: 2008 Unaudited Financial Highlights: Key Ratios
CIB MARINE BANCSHARES, INC. 1 st Quarter 2008 Unaudited Financial Highlights 2008 2007 Key Ratios and Other Data: Net interest margin 2.44% 2.34% Noninterest income to average assets 17.00% 0.74% Efficiency Ratio 129.49% 120.85% Loss on average assets -1.10% -0.92% Loss on average equity -17.56% -12
Slide 13: Key Business Strategies
John P. Hickey, Jr., President and CEO Key Business Strategies
Slide 14: Sale of Citrus Bank
Sell deposits, branches, and most loans to 1 st United, local Florida banking company Premium (cash premium, stock in purchaser, and earnout); Merge remaining Citrus Bank (retained loans, liabilities, and capital) into CIB Marine Use cash, as loans are collected, to pay interest on Trust Preferred S
Slide 15: Key Operating Issues: Trust Preferred Securities
Impact of Trust Preferred Securities As of March 31, 2008, $61.9 million in principal and $32.5 million in accrued and unpaid interest Deferral period expires February 2009 $8.5 million in 2007 expense Over $700,000/month interest expense Over $500,000/month interest expense after brought current Ke
Slide 16: Key Operating Issues: Grow Revenue
Grow revenue in the Banks Increase customer deposits/loans Low level of noninterest income compared to peers Demand deposits Fee income sources Economic environment – credit quality issues Branch network Key Operating Issues
Slide 17: Key Operating Issues: Operating Expenses
High level of operating expenses Challenge of matching expenses to a much smaller company Parent vs. bank activities 1 st Quarter, 2008 Efficiency Ratio: 122.73%! – revenue AND expenses Key Operating Issues
Slide 18: Operating Challenges
Short time horizon (TruPS) Continuing operating losses Weakening capital position at the holding company Challenging economic and industry environment in 2008 and beyond Operating Challenges
Slide 19: Strategic Options
Raise cash to bring TruPS interest current before default Raise private equity or debt Merge with another banking organization Sale of assets to meet cash needs Strategic Options
Slide 20: Plan Execution Challenges
Credit markets and general economic environment Regulatory concerns about capital levels and general conservatism in current banking environment Current merger and acquisition environment Uncertainty about litigation Plan Execution Challenges
Slide 21: Current Priorities
Gather cash to try to pay TruPS current by August 2008 or February 2009 Focus on banking customers to preserve the franchise and continue to develop new commercial banking relationships Continue to focus on credit quality Continue to identify opportunities to reduce expenses Pursue other strategic o
Slide 22: Questions and Comments
Please pass your Questions and Comments index card to the aisle to be collected. We will now take a fifteen minute break. Questions and Comments
Slide 23: Intermission
Intermission
Slide 24: Shareholder's Questions & Comments
Shareholder ’s Questions & Comments
Slide 25: Thank You
Thank You
Slide 26: Slide 26
CIB Marine Bancshares — Shareholder Meeting (May 2008) on 6ix