Chittenden — Merrill Merchants Bancshares — Merger or Acquisition (January 2007)
8 slides from Chittenden's merger presentation, Jan 19, 2007
Slide 1: Filed by Chittenden Corporation Pursuant to Rule 425
Filed by Chittenden Corporation Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: Merrill Merchants Bancshares, Inc. Commission File No.: 000-24715 This filing relates to the proposed acquisition
Slide 2: Chittenden Corporation announces the acquisition of Merrill Merchants Bancshares, Inc.
Chittenden Corporation announces the acquisition of Merrill Merchants Bancshares, Inc. January 19, 2007
Slide 3: Profile
Profile Data as of December 31, 2006 (dollars in thousands) General Holding Company Merrill Merchants Bancshares, Inc. Bank Merrill Merchants Bank Headquarters Bangor, Maine Established 1992 Number of Branches 11 Transaction Value $111.4 million Consideration 60% Stock / 40% Cash Financial Data 12/3
Slide 4: Greater Bangor Market
Greater Bangor Market • Combined population of Penobscot County is 147,068 • The Bangor Public Library serves as the Area Research • 60,820 households and Reference Center for Northern and Eastern Maine. • Median household income is $37,650 The Library has one of the highest per capita circulation r
Slide 5: Balance Sheet Highlights December 31, 2006
Balance Sheet Highlights December 31, 2006 Chittenden Merrill Merchants Pro Forma Corporation Bancshares, Inc. Combined ($ in millions,except per share amounts) Assets $6,432 $449 $6,881 Investments 1,151 87 1,237 Loans 4,697 339 5,036 Deposits 5,479 360 5,839 Equity 671 39 710 Goodwill 216 0 216 CD
Slide 6: Balanced Loan Portfolio / Diversified Sources of Funding
Balanced Loan Portfolio at December 31, 2006 (in millions) Chittenden % of Merrill Merchants % of Pro forma % of Corporation Total Bancshares, Inc. Total Combined Total Commercial $1,443 31% $73 21% $1,516 30% Commercial RE 1,943 41% 114 34% 2,057 41% Residential RE 751 16% 125 37% 876 17% Consumer
Slide 7: Chittenden Corporation Pro Forma Assets by State
Chittenden Corporation Pro Forma Assets by State at December 31, 2006 Vermont Massachusetts New Hampshire Maine 12/31/2006 Vermont 42% Massachusetts 22% New Hampshire 19% Maine* 17% Total Funding 100% *Includes Merrill Merchants Bancshares, Inc. assets as of 12/31/06
Slide 8: Forward-looking statements
This presentation contains “forward-looking statements” which describe future plans and strategic initiatives. These forward-looking statements are based on current plans and expectations, which are subject to a number of risk factors and uncertainties that could cause future results to differ mater
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