Bank Ozk · NASDAQ:OZK
Bank Ozk — Bank of the Ozarks — Merger or Acquisition (January 2014)
9 slides from Bank Ozk's merger presentation, Jan 30, 2014
Slide 1: Acquisition of Summit Bancorp, Inc.
Exhibit 99.2 Acquisition of Summit Bancorp, Inc. January 30, 2014
Slide 2: Forward Looking Information
Forward Looking Information This press release contains certain forward-looking information about the Company that is intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. All statements other than statements of h
Slide 3: Transaction Overview
Transaction Overview Bank of the Ozarks, Inc. (“OZRK”) entered into a definitive Transaction agreement and plan of merger with Summit Bancorp, Inc. (“Summit”) headquartered in Arkadelphia, Arkansas $216,000,000 with a minimum of 80% stock consideration Purchase Price and the balance in cash 1 Approx
Slide 4: Strategic Acquisition
Strategic Acquisition Financially Expectedto be accretiveto: TangibleBookValueby approximately$0.50to $0.60per share1 Attractive BookValueby approximately$3.00to $3.25per share1 EPSby approximately$0.25to $0.30duringthe first 12 months1 Strategic Total assets of $1.2 billion 2 2 2 Total loans of $77
Slide 5: Key Assumptions
Key Assumptions Fourteen offices located within two miles of an OZRK office, including nine offices within one mile of an OZRK office Cost Savings Expectednon-interestexpensesavingsof 25%-30%in first 12months Expectednon-interestexpensesavingsin the mid-30%rangethereafter Purchase AccountingExpected
Slide 6: Summit Bank
Summit Bank ARKANSAS OFFICES Bank of the Ozarks 66 Summit Bank 24 Total Arkansas Offices: 90 <> BANK of the OZARKS; INC.
Slide 7: A Powerful Regional Franchise
A Powerful Regional Franchise with more offices on the way Offices By State: Arkansas 90 Georgia 28 Texas 21 North Carolina 16 New York Florida 5 Alabama 3 New York South Carolina 1 New York 1 California 1 TOTAL 166 OZRK Offices North Carolina Summit Offices Shelby Charlotte OZRK Planned Offices Daw
Slide 8: Highly Complimentary Franchises
Highly Complimentary Franchises Similarculture– comfortabletransition Addition of talented Summit team Significantpresencein newArkansasmarkets– Arkadelphia,Malvern, Magnolia and Hope Combinationto resultin top or near-topmarketshare– SalineandGarland counties (Benton, Bryant, Hot Springs, Hot Sprin
Slide 9: Summary
Summary Franchises are highly complimentary Proforma total assetsof $6.3billion1 Immediately accretive to tangible book value and accretive to diluted earnings per share in the first 12 months and thereafter Eleventh acquisition announced by OZRK since March 2010 and the largest in our history 1 Inc
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