Cf Bankshares Inc. · NASDAQ:CFBK
Cf Bankshares — Central Federal — IPO Roadshow (December 2005)
17 slides from Cf Bankshares's IPO roadshow presentation, Dec 5, 2005
Slide 1: Discover the Difference Common Stock Offering
Discover the Difference Common Stock Offering December 2005
Slide 2: Forward Looking Statements
Forward Looking Statements 3 This presentation may contain forward-looking statements. These statements are not historical facts, but rather are based on our current expectations, estimates and projections about our industry, our beliefs and assumptions. Words including "may," "will," "could," "woul
Slide 3: Offering Summary
Offering Summary Shares Offered (All Primary): 2,000,000 Estimated Offering Size(1): $16.0 million Shares Outstanding (post-offering): 4,243,662 Over-Allotment Option: 300,000 Nasdaq Symbol: CFBK Anticipated Pricing Date: Week of December 19, 2005 Use of Proceeds: Support Growth Sole Manager: Ryan B
Slide 4: A Bit of History
A Bit of History 1892 to 1998 - Sleepy mutual thrift in Columbiana County, Ohio 1998 to 2003 - Sleepy public thrift in Columbiana County, Ohio - Excess capital - Traditional single family lender - Meager profitability levels - Strong dividend payout (which continues today) 9
Slide 5: New Management Team With Outstanding Prior Experience
New Management Team With Outstanding Prior Experience 11 Dave Vernon - Chairman (1/03). Founder of Summit Bank in Akron (sold to FirstFederal Financial Services); Bank One of Akron; Firestone Bank Mark Allio - Vice Chairman, President and CEO (2/05). President and CEO of Rock Bank (Quicken Loans aff
Slide 6: Historical Market East Liverpool/Salem MSA
Historical Market 13 East Liverpool/Salem MSA (Columbiana County) Historical base of the bank since 1892 Stable community with 15th highest level of deposits among Ohio's 88 counties Total bank deposits - $2.0 billion Stagnant to slightly declining population growth (2005 population - 110,000) Media
Slide 7: New Markets Akron MSA (Summit County)
New Markets 15 Akron MSA (Summit County) Vibrant market which is the home of Goodyear Tire, FirstEnergy, the University of Akron and other major employers Total bank deposits - $9.9 billion (dominated by large regional and super-regional banks) Population of 710,000 Median household income of $52,00
Slide 8: New Markets Columbus MSA (Franklin County)
New Markets 17 Columbus MSA (Franklin County) Vibrant market which is the state capital and home of The Ohio State University, Limited Brands, Cardinal Health, Wendy's, Huntington Bancshares and other major employers Total bank deposits - $28.8 billion (dominated by large regional and super-regional
Slide 9: New Business Mix
New Business Mix Loan Composition as a Percentage of Total Loans 12/31/2002 9/30/2005 Traditional Thrift Focus Single family mortgage loans 75.0% 21.6% Automobile loans 16.7% 43% New Bank Focus Multi-family martgage loans Commercial real estate loans Home equity and other consumer loans Commercial l
Slide 10: Financial Highlights
Financial Highlights Selected Financial Data (9/30/05 Unaudited) ($000, except per share data) Total assets $ 187,853 Loans 106,999 Cash and securities 35,656 Deposits 120,745 Shareholders! equity 17,182 Book value per share 7.66 Tangible book value per share 7.66 Annualized dividend 0.36 8 @ Centra
Slide 11: Financial Highlights: Stable Net Interest Margin
Financial Highlights 27 Stable Net Interest Margin 2000 2001 2002 2003 2004 2005 YTD 0.0296 0.0345 0.0356 0.0328 0.0327 0.0338
Slide 12: Financial Highlights: Excellent Asset Quality
Financial Highlights: Excellent Asset Quality 29 Allowance for Loan Losses to Total Loans 2000 2001 2002 2003 2004 2005 YTD 0.0041 0.0053 0.0057 0.0071 0.009 0.0113 Net Charge-offs to Average Loans 2000 2001 2002 2003 2004 2005 YTD 0.0002 0.0005 0.0005 0.0008 0.001 0.0018
Slide 13: Our Challenge
Our Challenge 31 We have built the infrastructure necessary to support a much larger balance sheet: Strong and deep management team De novo branches in Fairlawn (Akron) and Columbus Credit department Technology and service initiatives We now need significantly more net interest income to cover our e
Slide 14: Insider Ownership
Insider Ownership David C. Vernan, Chaimman of the los Mark S. Ali, Vice-Chaiman ofthe Board, President and Chief Executive Oticer JeteyW. Aldkich, Director Thomas P. Ash, Director Wiliam R. Downing, Director GenyW. Grace, Director Jerry F. Whitmer, Director Raymond E. Heh, President and Chief Opera
Slide 15: Attractive Valuation
Attractive Valuation 35 Source: SNL DataSource
Slide 16: Attractive Valuation
Attractive Valuation 37 Source: SNL DataSource
Slide 17: Why Invest in Central Federal?
Why Invest in Central Federal? 39 New management team capable of achieving significant growth New markets that offer tremendous growth potential New business mix, shifting from a traditional thrift to a community bank Strong asset quality Very attractive valuation Growth potential in a value sector