Bank of Granite — SPAC Merger (December 2002)
12 slides from Bank of Granite's SPAC merger presentation, Dec 18, 2002
Slide 1: Forward Looking Statements
Forward Looking Statements Statements contained in this presentation which are not historical facts and which pertain to future operating results of Bank of Granite Corporation or First Commerce Corporation constitute "forward-looking statements" within the meaning of the Private Securities Litigati
Slide 2: Overview of Bank of Granite Corporation
Overview of Bank of Granite Corporation Bank of Granite Corporation ("GRAN") is the holding company for the Bank of Granite, a Granite Falls, North Carolina based community bank GRAN serves the Catawba Valley and Blue Ridge foothills of North Carolina. In 1997, GRAN acquired GLL & Associates mortgag
Slide 3: First Commerce Corporation Company Profile
First Commerce Corporation Company Profile First Commerce Corporation ("FCMM") is the holding company for First Commerce Bank, a Charlotte, North Carolina based commercial bank FCMM began operations in July, 1996 and currently has three offices
Slide 4: Transaction Summary
Transaction Summary Issue Proposed Term hare pric
Slide 5: Transaction Rationale
Entrance into the Charlotte, NC MSA Gain 11th market position in Mecklenburg County Boosts statewide market share from 15th to 13th Transaction Rationale Improves scale and enhances management infrastructure Low risk, in-state transaction Contiguous markets and similar, successful community bank str
Slide 6: Statewide Presence
Statewide Presence Tennessee Lenoir Hudson Morganton , Steal Hickory y ey Cometius®, North Carolina South Carolina
Slide 7: North Carolina Competitive Profile
North Carolina Competitive Profile Note: 1.) Chart data illustrates the top 25 financial institutions, ranked by deposits in NC. Branch and market share data is also specific to NC. 2.) Historical and pro forma deposit information dated as of 6/30/02.
Slide 8: Pro Forma Impact
Pro Forma Impact
Slide 9: Cost Savings and EPS Impact
Cost Savings and EPS Impact Cost savings are estimated to be 15% of First Commerce's annual non-interest expense, or $611,000 pre- tax Cost savings are expected to come from staff reductions, systems consolidations and other back office overlap No revenue enhancements from increase in non-interest i
Slide 10: Transaction Pricing
Transaction Pricing 1. Median multiples for 13 bank acquisitions announced since 1/1/00 of banks headquartered in the Southeast, with assets between $100 - 250 million and similar financial performance to FCMM.
Slide 11: Summary
Summary Strategic entry into attractive, rapidly growing market Low risk transaction Strengthens executive management team and succession planning Attainable synergies Attractive financially
Slide 12: Bank of Granite Corporation
BANK OF GRANITE CORPORATION Investor Presentation December 18, 2002 * * * * * * * * * * * * * Note: The following notice is included to meet certain legal requirements under the Securities Act of 1933, as amended: Bank of Granite will be filing a registration statement containing a proxy statement/p