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Previous: STERLING SOFTWARE INC, 10-Q, 1995-02-14 |
Next: MACNEAL SCHWENDLER CORP, SC 13G/A, 1995-02-14 |
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West Coast Bancorp
Title Slide
LOGO
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History
o The Bank of Newport - founded in 1925
o The Commercial Bank - founded in 1955
o Strategically allied in the past
o Share strong commitment to community banking
LOGO
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Commitment to Community
Banking
o Emphasis on customer service
o Local decision making
o Autonomy with accountability
o Strong local franchises with increased resources and products
LOGO
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Expansion of Franchise
o Geographical
o Philosophical
o Financial
LOGO
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Benefits of the Transaction
o Customers
-- Personalized relationship based service
-- Expanded competitive services
o Employees
-- Enhanced opportunities
-- Job enrichment
o Shareholders
-- Increased shareholder base
-- Increased liquidity
-- Increased earnings
LOGO
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Increased Profitability
o Cost reduction
-- Consolidate data processing
-- Consolidate financial administration
-- Streamline and consolidate other areas
o Revenue enhancement
-- Market DP services for others
-- Market asset management (trust+) services
-- Expand existing products
-- Add product lines
LOGO
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Future Growth
o Asset management (trust+)
o Expand branch system
o Other financially related companies
o Other banks
LOGO
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Role of Vic Bartruff, Co-CEO
o Remain President & CEO of The Bank of Newport
o Responsible for all banking operations
o Intercompany Development Teams
o Strategic planning
LOGO
<PAGE>
Role of Rod Tibbatts, Co-CEO
o Holding Company administration
o Investor relations
o Non-bank operating units
LOGO
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Income Statement
Nine Months ending September 30, 1994
Net interest income $17,980
Provision for loan losses 435
Net interest income after provision 17,545
Noninterest income 5,107
Noninterest expense 15,614
Income before income taxes 7,038
Provision for income taxes 1,990
Net income $ 5,048
Average common equivalent shares 4,069,000
Net income per share $1.24
LOGO
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Balance Sheet
September 30, 1994
ASSETS
Cash and cash equivalents $33,646
Investment securities 119,253
Loans, net 286,442
Other assets 20,883
Total assets $442,224
LIAB. AND STOCKHOLDER'S EQUITY
Deposits $384,436
Borrowings 10,642
Other liabilities 3,687
Total liabilities 398,765
Stockholder's equity 43,459
Total liabilities and
stockholder's equity $442,224
LOGO
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Performance Ratios
WCBO Peer Group
Return on avg. total assets 1.58% 1.13%
Return on avg. total equity 17.32% 13.59%
Net interest spread 6.01% 4.90%
Efficiency ratio 67.51% 62.91%
Allowance for loan losses to ending total loans 1.59% NA
Allowance for loan losses to nonperforming assets 523.46% 117.35%
Nonperforming assets to total assets 0.25% 1.31%
Net loan charge-offs to avg. loan 0.01% 0.45%
Avg. equity to avg. assets 9.13% 8.27%
Tier 1 risk-based capital ratio 14.03% 8.10%
Total risk-based capital ratio 15.28% 11.87%
- - WCBO ratios are proforma as of Sept. 30, 1994, peer group is quarter
ended Sept. 30, 1994
- - Peer Group is publicly traded western U.S. banks
- - Annualized where necessary
<PAGE>
Summary
o Expansion of franchise area
o Expansion of products and services
o Increased profitability
o Well-positioned for future growth
LOGO
<PAGE>
Company Name and NASDAQ
Symbol
Currently
West Coast Bancorp - WCBO
Commercial Bancorp - CBOR
After Merger
West Coast Bancorp - WCBOD (1-30 days after merger)
WCBO (30+ days after merger)
LOGO
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