Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HOME BANCSHARES INC | d433077d8k.htm |
| EX-99.1 - PRESS RELEASE - HOME BANCSHARES INC | d433077dex991.htm |
 NASDAQ: HOMB
www.homebancshares.com
FDIC-Assisted Acquisition
November 2, 2012
Heritage Bank of Florida
Exhibit 99.2 |
 Forward
Looking Statements This presentation contains forward-looking statements that
relate to expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning matters that are
not historical facts. The forward- looking statements contained herein
reflect our current views about future events and financial performance and are
subject to risks, uncertainties, assumptions and changes in circumstances that
may cause our actual results to differ significantly from historical results and
those expressed in any forward-looking statement. Some factors that could
cause actual results to differ materially from historical or expected results
include: factors listed in the Company’s 10-K as filed with the
Securities and Exchange Commission; changes in general economic conditions,
either nationally or locally in the areas in which we conduct or will conduct our
business; inflation, interest rate, market and monetary fluctuations; increases
in competitive pressures among financial institutions and businesses offering
similar products and services; higher defaults on our loan portfolio than we
expect; changes in management’s estimate of the adequacy of the allowance
for loan losses; legislative or regulatory changes or changes in accounting
principles, policies or guidelines; management’s estimates and projections
of interest rates and interest rate policy; the execution of our business plan;
and other factors affecting the financial services industry generally or the
banking industry in particular.
We do not intend and disclaim any duty or obligation to update or revise any
industry information or forward-looking statements set forth in this presentation
to reflect new information, future events or otherwise. |
 Transaction Overview
•
Purchase and assumed certain assets and liabilities from the
FDIC of Heritage Bank of Florida
–
All
non-performing
loans
and
OREO
are
excluded
from
the
transaction
•
Acquired approximately $194 million in assets plus a cash
settlement to balance the transaction & assumed
approximately $223 million in deposits
•
Acquired branches will operate as Centennial Bank, a
wholly-owned subsidiary of Home BancShares, Inc.
•
Branches will be open under regular business hours on
Monday, November 5
th
3 |
 Strategic Opportunity
•
Additive to current Florida footprint
–
Complements 2010 Central Florida transaction
•
Old Southern
•
Financially compelling transaction –
immediately accretive to:
–
Net income
–
Earnings per share
–
Book value
–
Tangible book value
•
Leverages a portion of our excess capital
4 |
 Pro-Forma Capital Ratios
Ratio
As of
September 30
Post Heritage
Acquisition
Pro-Forma
Tangible Book Value
$15.01
$15.15
TCE
11.1%
10.6%
Leverage
11.3%
10.8%
Tier 1
15.6%
15.0%
Total RBC
16.9%
16.3%
5 |
 Overview of Heritage Bank
•
3 full-service locations in Central Florida
–
Lutz (Hillsborough County)
–
Wesley Chapel (Pasco County)
–
Tampa (Hillsborough County)
Core Deposits ($mm)
Source: Core deposits defined as total deposits less time deposits greater than
$100K Note:
MRQ
as
of
9/30/12
;
Shown
as
Heritage
Bank
of
Florida
(’02YE-MRQ)
Map note: Total branch count includes Premier Bank. It was previously announced
and is expected to close in November. Existing Branches
Pro Forma Central FL Branch Network
6
Heritage Bank Branches
$0
$25
$50
$75
$100
$125
$150
$175
$200
$40
$59
$70
$85
$106
$110
$124
$166
$176
$168
$172
'02YE
'03YE'04YE
'05YE'06YE'07YE
'08YE'09YE'10YE
'11YE
MRQ |
 Deposit
Composition HOMB
HOMB –
Pro Forma
(Dollars in Millions)
18%
59%
14%
9%
15%
57%
9%
Transaction Accounts
Money Market & Savings
Jumbo Time Deposits
Retail Time Deposits
19%
7
Heritage Bank
23%
26%
12%
39%
HOMB
09/30/12
Heritage
09/30/12
HOMB
Pro Forma
Transaction Accounts
$
$
$
Money Market & Savings
1,846
87
1,933
Retail Time Deposits
433
58
491
Jumbo Time Deposits
574
52
626
$
$
$
279
3,132
26
223
305
3,355 |
 Loan
Composition Loan Type
HOMB
(9/30/12)
Heritage
(9/30/12)
HOMB
Pro-forma
Total
% of
Pro-forma
Total Loans
Commercial RE
(Non-farm/non-residential & agri.)
$ 1,094
$ 1,159
44%
Construction/Land
Development
354
7
361
14%
Residential Real Estate
719
51
770
29%
Commercial & Industrial
(1)
253
31
284
11%
Consumer
36
4
40
1%
Other
28
-
28
1%
Total
$ 2,484
$ 2,642
100%
(1)
Includes Agricultural
(Dollars in Millions)
8
$ 65
$ 158 |
 Historical Acquisitions
Year
Acquired Bank
Location
Assets
($mm)
2003
Community Bank
Cabot, AR
$326
2005
Twin City Bank
North Little Rock, AR
$633
2005
Marine Bank
Marathon, FL
$258
2005
Bank of Mountain View
Mountain View, AR
$203
2008
Centennial Bank
Little Rock, AR
$234
2010
Old Southern Bank
Orlando, FL
$335
2010
Key West Bank
Key West, FL
$97
2010
Coastal Community Bank
Panama City, FL
$362
2010
Bayside Savings Bank
Port Saint Joe, FL
$63
2010
Wakulla Bank
Crawfordville, FL
$353
2010
Gulf State Community Bank
Carrabelle, FL
$112
2012
Vision Bank
Panama City, FL
$520
9 |
 FLORIDA
Port Charlotte
Punta Gorda
Marco Island
Key Largo
Islamorada
Marathon (2)
Big Pine
Key West (3)
Summerland
55 Branches
(As of November 2012)
Orlando (2)
Winter Park
Longwood
Clermont
Eastpoint
Apalachicola
Carrabelle
Port St. Joe
Lynn Haven
Panama City (2)
St. George Island
Panama City Beach (4)
Mexico Beach
Southport
Blountstown
Bristol
Tallahassee (5+5)
Panacea
Crawfordville (2)
Navarre
Wewahitchka
DestinSanta Rosa Beach
Quincy
Lutz
Wesley Chapel
Tampa
Lake Mary
Florida Footprint
Existing Branch Locations
Premier Bank Locations
10
Heritage Bank Locations
Note: Premier Bank was previously announced and is expected to close in
November. |
 Contact Information
Corporate Headquarters
Home BancShares, Inc.
719 Harkrider St., Suite 100
P.O. Box 966
Conway, AR 72033
Financial Information
Brian Davis
Investor Relations Officer
(501) 328-4770
Website
www.homebancshares.com
11 |
 NASDAQ: HOMB
www.homebancshares.com
FDIC-Assisted Acquisition
November 2, 2012
Heritage Bank of Florida |