Rbb Bancorp · NASDAQ:RBB
Rbb Bancorp — Merger or Acquisition (September 2019)
8 slides from Rbb Bancorp's merger presentation, Sep 24, 2019
Slide 1: Strategic Acquisition of PGB Holdings, Inc.
September 24, 2019 Strategic Acquisition of PGB Holdings, Inc. Exhibit 99.2 Exhibit 99.2 RBB BANCORP Strategic Acquisition of PGB Holdings, Inc. September 2019 NASDAQ: RBB
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain matters set forth herein (including the exhibits hereto) constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to RBB’s current business plans, its future fina
Slide 3: Transaction Highlights
Expands the RBB franchise to the Chicago market Gives RBB access to Chicago’s Asian-American population of approximately 500,000 Enables Pacific Global to benefit from RBB’s scale and efficiencies Enhances residential mortgage loan production platform Enables RBB to bring its C&I lending platform to
Slide 4: Overview of PGB Holdings
Overview of PGB Holdings Founded in 1995 3 full service branches principally serving Asian-American communities in Chicago Total assets of $223.8 million 1-4 family residential loans comprise 83% of total loans 18.3% non-interest bearing deposits Financial Highlights Franchise Highlights (as of 6/30
Slide 5: Transaction Overview
Transaction Overview Acquisition consideration of $32.5 million, all cash Price / tangible book: 1.70x as of June 30, 2019, and 1.66x estimated at close Transaction includes two owned branches with an estimated fair market value of $2 million greater than book value Price / EPS (LTM): 10.0x Core dep
Slide 6: Pro Forma Loan Portfolio
Pro Forma Loan Portfolio (as of June 30, 2019) Note: Regulatory data shown, does not include purchase accounting adjustments Source: Company estimates, FIG Partners RBB PGB Pro Forma Composition Composition Composition Loan Type ($000) % of Total Loan Type ($000) % of Total Loan Type ($000) % of Tot
Slide 7: Pro Forma Deposit Mix
RBB PGB Pro Forma Pro Forma Deposit Mix (as of June 30, 2019) Note: Regulatory data shown, does not include purchase accounting adjustments Source: Company estimate, FIG Partners Composition Composition Composition Deposit Type ($000) % of Total Deposit Type ($000) % of Total Deposit Type ($000) % o
Slide 8: Transaction Assumptions and Pro Forma Impacts
Transaction Assumptions and Pro Forma Impacts Accretion/Dilution Pro Forma Capital Ratios Transaction Assumptions Estimated cost savings of 30% of PGB’s non-interest expense, phased-in during 2020 Loan mark of 1.5%, or $2.6 million CDI of approximately 1.25% Pre-tax one-time merger-related expenses