First Community Financial Partners Inc
First Community Financial Partners — Merger or Acquisition (February 2017)
18 slides from First Community Financial Partners's merger presentation, Feb 6, 2017
Slide 1: Special Note Concerning Forward-Looking Statements
Special Note Concerning Forward-Looking Statements This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of Fir
Slide 2: Additional Information
Additional Information First Busey will file a registration statement on Form S-4 with the SEC in connection with the proposed transaction. The registration statement will include a proxy statement of First Community that also constitutes a prospectus of First Busey, which will be sent to the shareh
Slide 3: Additional Information
Additional Information First Busey wil file a registration statement on Form S-4 with the SEC in connection with the proposed transaction. The registration statement will include 2 proxy statement of First Community that also constitutes a prospectus of First Busey, which will be sent to the shareho
Slide 4: Transaction Rationale
Transaction Rationale Franchise extension into attractive and contiguous markets Established commercial banking platform with cross-sale opportunities for all of BUSE product offerings, including wealth management Diversified and clean loan portfolio with strong commercial balances (C&I represented
Slide 5: Transaction Terms
Transaction Terms $235.8 million Fixed consideration mix of 90% stock / 10% cash FCFP shares will be exchanged for 0.396 BUSE shares and $1.35 in cash There will be a cap/collar structure whereby, if BUSE’s 5-day VWAP of $29.31 increases above $35.90(2) or below $22.71(2) from the signing date to th
Slide 6: Transaction Details
Transaction Details Readily achievable cost savings conservatively assumed to be 25% One time pre-tax deal charges of $13.1M, or 5.6% of aggregate deal value A 1.9% gross credit mark or $19.1 million Core deposit intangibles created equal to 1.5% of FCFP’s non- time deposits, amortized over ten year
Slide 7: Due Diligence Review
Due Diligence Review Thorough due diligence process to evaluate FCFP’s credit portfolio Total $ Amount As a Percent of NPAs (as of 9/30/2016) Loan Loss Reserve $19.1M 144% Loan review completed by BUSE internal team in conjunction with highly experienced, reputable third- party credit due diligence
Slide 8: Transaction Meets All M&A Disciplines
Transaction Meets All M&A Disciplines High-density market with growth opportunities in commercial & wealth management Franchise extension into attractive and contiguous market that includes the southwest suburbs of greater Chicago base approximately 79% core deposits(1) 71% of FCFP loans in C&I and
Slide 9: First Community Financial Partners, Inc. and Market Overview
First Community Financial Partners, Inc. and Market Overview 10
Slide 10: First Community Financial Partners, Inc. Overview
First Community Financial Partners, Inc. Overview First Community Financial Partners, Inc. (NASDAQ: FCFP) was formed as a bank holding company in 2006 Headquartered in Joliet, IL and operates 9 branches in Will, DuPage and Grundy counties, which encompasses portions of the southwestern suburbs of Ch
Slide 11: First Community Deposit Market Share
First Community Deposit Market Share Branch Franchise 9 full service locations Over $100 million average deposits per location 22.9% non-interest bearing Core deposits represent approximately 79% of deposits(1) 0.43% total cost of deposits for quarter ended December 31, 2016 Source: SNL Financial. D
Slide 12: Attractive Operating Markets
Attractive Operating Markets First Community’s operating markets provide attractive demographic trends which support quality growth opportunities for the pro forma franchise should continue to $79,868 38.2% $80,000 8.0% 40.0% 6.3% 5.9% 5.6% $54,316 $60,000 6.0% 30.0% $40,000 4.0% 20.0% $20,000 2.0%
Slide 13: Pro Forma Franchise
Pro Forma Franchise 36 full-service branches throughout Illinois, as well as 13 in Missouri, 5 in Florida and 1 in Indiana $6.7 billion in assets $5.1 billion in gross loans Source: SNL Financial 14 BUSE (46) FCFP (9) Pro Forma Deposit Market Share Illinois (Excluding the City of Chicago) Rank Insti
Slide 14: Pro Forma Loan Portfolio
Pro Forma Loan Portfolio $1,200.0 $1,000.0 $800.0 $600.0 $400.0 $200.0 $- Well diversified loan portfolio with no one segment accounting for more than 29% of loans $873.4 $772.7 $774.4 $743.1 $729.2 $713.6 More than 35% growth in total loans 1Q’15(1) C&I loans represent more than 28% of loans since
Slide 15: Pro Forma Deposit Composition
Pro Forma Deposit Composition 1.60% Core deposits representing approximately of total deposits(1) 79% 1.20% Non-interest bearing deposits over 20% deposits Cost of deposits of 43 bps as of 12/31/16 of total 0.80% 0.40% 0.00% 2011Y 2012Y 2013Y 2014Y 2015Y 2016Y Source: SNL Financial. Deposit breakout
Slide 16: Pro Forma Deposit Composition
Pro Forma Deposit Composition First Community Deposit Overview Cost of Deposits Q Core deposits representing approximately 79% Smeal of total deposits!) sox Oi Non-interest bearing deposits over 20% of total deposits owe Q Cost of deposits of 43 bps as of 12/31/16 oso Source SNL Fnac. Deposit brekou
Slide 17: Historical Financial Highlights
Historical Financial Highlights For the Years Ended: For the Quarters Ended: 12/31/2014 12/31/2015 12/31/2016 3/31/2016 6/30/2016 9/30/2016 12/31/2016 Balance Sheet ($000) 924,075 676,026 769,410 92,053 89.57 9.96 10.27 13.55 1,040,652 760,978 865,991 103,041 89.18 9.90 11.62 14.69 1,268,210 982,249
Slide 18: Historical Financial Highlights
Historical Financial Highlights Forthe Yearstnded: Forthe QuartersEnded: 32/31/2014 12/31/2015 _ 12/31/2016 | _ 3/31/2016 _ 6/30/2016 _ 9/30/2016 12/31/2016 ‘Balance Sheet $000) Total Assets Baa Ts 1,080,652 1268710 | 1060.86? 1,175,367 —T.2a6 598 1768 210 Total Net Loans 676026 760,978 982,249 763,
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