Merrill Merchants Bancshares Inc

Merrill Merchants Bancshares — Shareholder Meeting (April 2005)

24 slides from Merrill Merchants Bancshares's shareholder meeting presentation, Apr 27, 2005

  1. Slide 1: Merrill Merchants Bancshares, Inc. Annual Meeting

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Merrill Merchants Bancshares, Inc. Forward-looking statements are subject to various factors which could cause actual results to, di

  3. Slide 3: 2004 Highlights

    2004 Highlights * Record earnings performance ¢ Top SBA lender in Maine ¢ Leading mortgage originator

  4. Slide 4: Financial Highlights

    Financial Highlights Gn millions, except per share amounts) 2004 2003 Change Assets $368.7 $342.2 8% Loans 283.6 247.3 15% Deposits 299.8 258.8 16% Net Income 4.9 4.3 14% Earnings per Share 1.44 1.26 14% Dividend per Share 0.56 0.47 19%

  5. Slide 5: Net Income

    375 2.50 1.25 Net Income Compound Annual Growth Rate of 20% 1998 rsh 2000 2001 2002 2003 2004

  6. Slide 6: Return on Average Assets

    Return on Average Assets @ Merrill Mf Peer 1.500 1.36% 07% 1125 0.750 0375 ° 1998 1999 2000 2001 +~=«-2002~=«2003-=«2004 Data Source: FFIEC Bank Holding Company Performance Report ($300-$500 million)

  7. Slide 7: Return on Average Equity

    Return on Average Equity @ Merrill Mi Peer 20 16.06% 5 11.44% : | | 5 0 1998 1999 + 2000~=«-2001 += 2002,-~S«2003-=S«2004 Data Source: FFIEC Bank Holding Company Performance Report ($300-$500 million)

  8. Slide 8: Net Charge-Offs to Average Loans

    Net Charge-Offs to Average Loans @ Merrill Mm Peer 0.2500 0.1875 WeoH 0.1250 0.0625 : 0 1998 1999 | 2000 + 2001 :+~=«-2002-~—=«-2003—=— 2004 DataSource: FFIEC Bank Holding Company Performance Report ($300-$500 million)

  9. Slide 9: Non-Performing to Total Assets

    Non-Performing to Total Assets @ Merrill Mf Peer 0.700 0.52% 0.525 0.4. 0.350 o.n75 o 1998 1999 2000 += 2001 += 2002,-=S=«2003,—=—« 2004. DataSource: FFIEC Bank Holding Company Performance Report ($300-$500 million)

  10. Slide 10: Deposit Composition

    Deposit Composition Checking Savings, MM. Retail CDs National CDs $300 Million

  11. Slide 11: Deposit Market Share

    Deposit Market Share Number of Deposits Branches ___(000’s) Bangor Savings 9 $537,836 Merrill 10 284,841 BankNorth 6 190,772 Keybank 4 115,842 Fleet 6 110,488 UnitedKingfield 2 78,485 Skowhegan Savings 1 13,055 Data Source: FDIC Market Share 40.4% 21.4% 14.3% 8.7% 8.3% 5.9% 1.0%

  12. Slide 12: Operating Efficiency

    Operating Efficiency @ Merrill Mf Peer 66.2% 59.3 525 H 35.0 175 1998 1999 -2000.~»=«-200r~=« 2002 ~=«-2003~=« 2004 Data Source: FFIEC Bank Holding Company Performance Report ($300-$500 million)

  13. Slide 13: Trust Assets

    400 300 0) Trust Assets (in millions) $356.4 1998 1999 2000 2001 2002 2003 2004

  14. Slide 14: First Quarter Results

    First Quarter Results (in millions, except per share. amounts) 2005 2004 Change Loans $285.8 $258.9 t 10% Deposits 294.4 272.5 T 8% Net Income is) eth 200) Earnings per Share 0.36 0.32 113% Dividend per Share 0.150 0.126 4 19%

  15. Slide 15: Value to Community

    Value to Community Q Only publicly traded company in Bangor @ 135 employees ~ $5 million annual payroll Community investment $400,000 contributions, sponsorship, and taxes @ 10,000 hours volunteer service @ Penobscot Theatre restoration

  16. Slide 16: Mission

    Mission

  17. Slide 17: Merrill Merchants Bancshares, Inc.

    AA Merrill Merchants Bancshares, Inc.

  18. Slide 18: Cash Dividend History

    030 O15, i Z Cash Dividend History alll 1998 1999 2000 2001 2002 2003 2004

  19. Slide 19: Share Increases - Stock Dividend

    Share Increases - Stock Dividend 15,000 11,250 7,500 3,750 0 1992 1996 1997 2/98 6/98 1999 2000 2001 2002 2003 2004 2005 Ten consecutive years of stock dividend

  20. Slide 20: Maine Peer Group Comparison

    Maine Peer Group Comparison 2004 Div Yield 2.30 13.76 Div Payout ROE Bob O7) ROA 1.40 Effic. Ratio Chg, off 52.8 (0.02) 2.13 17.69 30.2 11.63 1.03 65.9 0.02 3.11 15.11 43.2 10.58 0.89 70.2 0.15 3.11 2.69 14.12 15.19 38.6 17.10 36.4 14.27 1.41 1.22 48.8 0.08 59.4 0.06 2.81 15.25, 38.3 16.06 1.36 59.3

  21. Slide 21: Stock Performance Comparison

    Stock Performance Comparison FNLC MERB Camden BHBT Union ‘Trust 0 1999 2000 2001 2002 2003 2004 Data Source: Bloomberg, LP, and each company’s respective proxy statement.

  22. Slide 22: 5-Year Relative Stock Performance

    5-Year Relative Stock Performance

  23. Slide 23: Merrill Stock Performance

    Merrill Stock Performance Initial Annual Investment Value (a) Return Original Shareholder $46,000 $268,588 16.13% Oct. 1992 - 1,000 shares at $46 (adjusted basis of $3.70) IPO Shareholder Aug. 1998 - 1,000 shares at $12.50 (adjusted basis of $10.27) $12,500 $26,280 14.09% (a) Market Value at 12/31/0

  24. Slide 24: Merrill Merchants Bancshares, Inc.

    AA Merrill Merchants Bancshares, Inc.

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