Banco De Credito E Inversiones · BCS:BCI
Banco De Credito E Inversiones — Merger or Acquisition (December 2017)
18 slides from Banco De Credito E Inversiones's merger presentation, Dec 1, 2017
Slide 1: City National Bank of Florida: Acquisition of TotalBank
City National Bank of Florida Acquisition of TotalBank Investor Relations Department | Email: Investor_Relations_Bci@Bci.cl December 1, 2017
Slide 2: Contents
Contents. Transaction Rationale Overview of TotalBank and Combined Institution Appendix 2
Slide 3: Transaction Rationale
Transaction Rationale City National Bank of Florida (“City National” or “CNB”) achieves a size that ensures Bci a long- term competitive position in the U.S. market and benefits from economies of scale Consistent with Bci’s strategy of international expansion and diversification Strategic Enhances C
Slide 4: Key Transaction Terms
Key Transaction Terms US$ 528 million total consideration¹ to Banco Santander, S.A. (“Santander”) Consideration 100% cash consideration Implied Pricing 1.56x TotalBank’s September 30, 2017 tangible book value Multiples 20.3x TotalBank’s projected earnings for the year ended December 31, 2017 Approxi
Slide 5: Market Highlights
Market Highlights Florida Market Highlights Miami Market Highlights The U.S.’s 3rd largest state; rapid population growth driving the Rapidly growing MSA market with 6.6% total expected population state’s economy – expected to increase 6.7% from 2018 to 2023 growth from 2018 to 2023 o Florida, Texas
Slide 6: Overview of TotalBank and Combined Institution
Bci Investor Relations Overview of TotalBank and Combined Institution
Slide 7: TotalBank Franchise Overview
TotalBank Franchise Overview Franchise Overview Historical Financial Performance Integrated retail-commercial bank in South Florida, which offers a (Dollars in US$ Millions) Year Ended December 31, YTD as of comprehensive range of traditional banking products and services for 2015 2016 9/30/2017 bus
Slide 8: TotalBank at a Glance
TotalBank at a Glance Revenue Breakdown YTD as of September 30, 2017 Balance Sheet as of September 30, 2017 Assets Liabilities & Equity 0.5% 1.0% US$ 3,042M US$ 3,042M CRE 8.1% Residential Total 7.4% Deposits Investments Net Loans Equity 10.5% 44.5% Securities 71.3% 71.7% Capital Commercial Intangib
Slide 9: Pro Forma Bci at a Glance
Pro Forma Bci at a Glance For the Nine Months Ended September 30, 2017 Pro Forma Consolidated Entity¹ Stand-Alone & Pro Forma Consolidated Assets¹ (Dollars in US$ Millions) ~23.2% of Bci’s Assets are ~27.4% of Bci’s Assets will Balance Sheet based outside of Chile be based outside of Chile Total Ass
Slide 10: Combined Franchise Highlights: CNB + TotalBank
Combined Franchise Highlights: CNB + TotalBank Pro Forma Franchise Overview Pro Forma Branch Footprint US$ 12.9 billion assets and increased market presence; 56% of TotalBank’s current branches are within 1 mile of a CNB branch TotalBank (17) CNB (26) o #2 Florida-headquartered commercial bank¹ in M
Slide 11: Combination Analysis: CNB + TotalBank
Combination Analysis: CNB + TotalBank YTD as of September 30, 2017 CNB TotalBank (Dollars in US$ Millions) CNB TotalBank Pro Forma¹ Financial Assets 76% 24% $9,845 $3,042 $12,886 Gross Loans 74% 26% $6,392 $2,188 $8,581 Deposits 77% 23% $7,337 $2,181 $9,518 Net Income 78% 22% $66.3 $18.2 $84.5 Opera
Slide 12: Loan/Deposit Combination Analysis: CNB + TotalBank
Loan/Deposit Combination Analysis: CNB + TotalBank CNB As of September 30, 2017 TotalBank (Dollars in US$ Millions) CNB TotalBank Pro Forma¹ Loans Commercial Real Estate 71% 29% $2,410 $967 $3,377 Residential Real Estate² 68% 32% $2,074 $994 $3,068 C&I 87% 13% $1,489 $214 $1,704 Consumer & Other 97%
Slide 13: Appendix
Bci Investor Relations Appendix
Slide 14: Overview of Bci and City National Bank of Florida
Overview of Bci and City National Bank of Florida Over US$ 51 billion in assets as of September 30, 2017¹ Over 71 years of experience in Miami-Dade, Broward, Palm Beach o Largest locally-owned bank in Chile by local ownership and Orange counties in Florida; 580 employees at 26 branches o 3rd largest
Slide 15: Bci Pro Forma Financial Overview
Bci Pro Forma Financial Overview For the Nine Months Ended September 30, 2017 BCI¹ ² TotalBank Pro Forma General Figures (US$ Millions) Net Loans $36,587 $2,170 $38,757 Total Assets $51,305 $3,042 $54,347 Deposits $31,091 $2,181 $33,273 Noninterest-Bearing Deposits $14,097 $720 $14,816 Tangible Equi
Slide 16: Comparable Florida M&A Transactions
Comparable Florida M&A Transactions Transaction Information Seller Information Price/ Core Deal LTM Book Deposit Total TCE/ YTD LLR/ NPAs/ Announce Value Earnings Value TBV Premium Assets TA ROAA Loans Assets¹ Acquiror St Target Date (US$ M) (x) (%) (%) (%) (US$ M) (%) (%) (%) (%) FCB Financial Hold
Slide 17: Thank you
This presentation contains forward-looking statements in various places throughout therein, related to, without limitation, our future business development. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “expect”, “plan”, “intend
Slide 18: Slide 18
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