Independent Bank Corporation · NASDAQ:IBCP
Independent Bank — Sandler O'Neill East Coast Financial Services Conference 2008
7 slides from Independent Bank's conference presentation, Nov 12, 2008
Slide 1: Independent Bank Corporation – Sandler O'Neill East Coast Financial Services Conference
Independent Bank Corporation Sandler O'Neill East Coast Financial Services Conference November 13, 2008
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include expressions such as "expects," "intends," "believes" and "should" which are necessarily statements of
Slide 3: Independent Bank Footprint
Independent Bank Footprint Founded in 1864 Traded on the NASDAQ since 1985 (Symbol: IBCP) 106 banking locations, 3 drive-up only facilities, and 5 loan production offices all in Michigan Approximately 1,200 FTE employees State chartered FRB member bank
Slide 4: Operating Environment - Challenges
Operating Environment - Challenges Michigan economy remains among weakest in U.S.; potential for broader recession Decline in residential/commercial property values which led to increase in non- performing loans and credit costs IBC began strategic initiatives in early stages of credit crisis to put
Slide 5: The IBC Difference - Strategic Initiatives
The IBC Difference - Strategic Initiatives Completion of four-bank charter consolidation (3Q07) Streamlined operations, strengthened risk management Positioned IBC to realize $4 million+ in annual cost savings Furthered product standardization and risk-based pricing New organizational structure: inc
Slide 6: The IBC Difference - Strategic Initiatives (Deleveraging)
The IBC Difference - Strategic Initiatives ??Deleveraging strategy Increased pricing and loan return hurdles; Balance sheet remains structured to benefit from low short-term interest rates and/or steep yield curve Management committed to reducing total assets by $300-$400 million ($50 million declin
Slide 7: Financial Overview
Financial Overview 3Q 08 2Q 08 3Q 07 YTD 08 YTD 07 Income (loss) from continuing operations (millions) $(5.3) $3.3 $3.7 $(1.6) $7.7 EPS - continuing operations $(0.23) $0.15 $0.16 $(0.07) $0.34 ROA - continuing operations (0.66)% 0.42% 0.45% (0.07)% 0.31% ROE - continuing operations (8.97)% 5.58% 5.
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