Community Financial System, Inc. · NYSE:CBU
Community Financial System — Community Bank System — Merger or Acquisition (February 2015)
7 slides from Community Financial System's merger presentation, Feb 25, 2015
Slide 1: Acquisition of Oneida Financial Corp.
FEBRUARY 2015Acquisition of Oneida Financial Corp.
Slide 2: Forward-Looking Statement & Additional Information
Forward-Looking Statement & Additional InformationThis presentation contains certain “forward?looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about Community Bank System’s long?term goals, financial condition, results of operations
Slide 3: Oneida Financial Overview
Oneida Financial OverviewLoansConst. 1%C&I 14%Other 13%1?4 Family 48%SyracuseCRE 21%Multi? Family 3%Deposits2014 Total: $371 mm Yield: 4.28%Non?interest bearing dep.Key Statistics (1)Jumbo CDs 4% 9%CBU (182 branches) ONFC (12 branches)Year Founded 1866Total Assets $798 million ROAA (%) 0.66% NPAs /
Slide 4: Strategic Rationale
Strategic RationaleSignificantly enhances CBU’s presence in the Syracuse and Utica?Rome 1 MSAs via natural expansion into Madison and Oneida counties2 Complementary and additive fee income profile3 Excellent cultural fit – Long history of strong community focusFinancially attractive deployment of sh
Slide 5: #4 Bank in the Syracuse, NY MSA
#4 Bank in the Syracuse, NY MSARank InstitutionNumber of BranchesDeposits ($mm)Market Share1 M&T Bank Corp. 30 $2,714.1 24.0%2 KeyCorp 26 1,739.4 15.43 Bank of America Corp. 12 963.7 8.5Community Bank System + Oneida Financial 16 $914.5 8.1%4 JPMorgan Chase & Co. 13 862.7 7.65 First Niagara Finl Gro
Slide 6: Complementary & Additive Fee Income Profile
Complementary & Additive Fee Income ProfilePro FormaWealth Management 14%Benefit ServicesInsurance 1%Banking Services 49%Insurance 47%Banking Services 17%Risk Mgmt. & Benefit Services 26%Wealth Management 13%Insurance 11%Banking Services 42%36%Financial/Inv Advisory 10%Benefit Services 34%2014 Fee I
Slide 7: Transaction Overview & Impact
Transaction Overview & ImpactMerger Consideration:? Oneida shareholders have the right to receive 0.5635x CBU shares or $20.00 in cash• Approximately $20.00 per share (1) or ~$142 million in aggregate• Stock / cash election subject to overall ~60% stock / 40% cash splitDue Diligence: ? Completed det
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