Citigroup is a top 10 U.S. bank holding company with over $138 billion in assets and over 1,900 branches. Regions Financial Corporation acquired AmSouth Bancorporation in 2007. Regions has achieved key integration milestones including organizational decisions, systems conversions, and branch divestitures. Regions expects $400 million in annual cost savings from the merger by the second quarter of 2008.
Regions Bank provided a presentation at the Citigroup 2008 Financial Services Conference that included the following key points:
1) Regions is one of the largest US banks with over $140 billion in assets and nearly 2,000 branches across the Southeast.
2) The integration of AmSouth Bank is now complete, with cost saves exceeding original targets.
3) Fourth quarter financial performance was impacted by several one-time charges but credit quality remained stable.
4) Regions has a diversified loan portfolio including commercial real estate, residential mortgages, and consumer loans, with careful management of riskier segments like homebuilders.
This document provides an overview of Regions Financial Corporation, including:
1) Regions is a top 10 U.S. bank holding company by market capitalization, assets, loans, and deposits, with over 1,900 branches across the Southeast and Midwest.
2) Regions has a significant presence and strong local market share across its core states of Alabama, Florida, Tennessee, Louisiana, Mississippi, Georgia, Arkansas, and Texas.
3) The document outlines Regions' key integration accomplishments following its merger with AmSouth Bancorporation, and previews Regions' initiatives and financial performance outlook for 2007.
Regions Bank reported solid financial performance in the second quarter of 2007. Earnings per share were $0.69, excluding merger charges. Net interest margin was 3.82% and return on assets was 1.43%. Credit quality remained strong, with nonperforming assets at 0.62% of loans and net charge-offs at 0.23% of average loans. Regions also made good progress integrating its merger with AmSouth, exceeding cost savings targets and successfully converting branches in Alabama and Florida.
This document provides an overview of Regions Bank, including:
1) Regions is among the largest US banks with $144 billion in assets and over 1,900 branches across its southeastern footprint.
2) It cautions that any forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
3) Regions has a strong market presence across the southeastern US, ranking first in several states for deposit market share.
The document provides an overview of Regions Financial Corporation's 2007 financial outlook and merger integration progress with AmSouth Bancorporation.
The summary is:
1) Regions expects to realize $180 million in pre-tax earnings from the merger in 2007 through purchase accounting adjustments, cost savings from divestitures and branch consolidations, and $150 million in annual cost saves.
2) Integration activities are on track, with key decisions made regarding systems, culture, and divestitures.
3) Core expectations for 2007 include low-to-mid single digit loan and deposit growth, a net interest margin of around 3.90%, and net charge-offs of mid-20 basis
The document summarizes Regions Bank's 2007 annual shareholder meeting. It provides an overview of Regions' financial performance and position in 2007, including details on the successful integration of its merger. It also outlines challenges from the struggling housing market and strong capital position. Finally, it discusses Regions' strategic initiatives like growing Morgan Keegan and its focus on communities and social responsibility.
Fannie Mae reported a net loss of $2.3 billion for the second quarter of 2008, driven by credit-related expenses of $5.3 billion which included higher charge-offs and an increase in loss reserves. Revenues were $4 billion, up 5% from the prior quarter mainly due to higher net interest income. Fair value gains were $517 million but were offset by investment losses of $883 million from impairments on Alt-A and subprime securities. Fannie Mae issued $7.4 billion in new capital during the quarter to maintain its capital surplus above regulatory requirements. Management is taking actions to reduce costs and increase guaranty fees while focusing on credit risk management through tighter underwriting and expanded loan work
CSC reported revenue growth of 5.1% in the first quarter of fiscal year 2005 compared to the same period last year. Revenue totaled $3.7 billion for the quarter. Net income was $110.4 million and earnings per share were $0.58. CSC saw growth in its European outsourcing and U.S. federal government businesses. The company's pipeline of federal opportunities over the next 20 months stands at around $33 billion. CSC announced $4.9 billion in new awards during the quarter from both commercial and government clients.
Regions Bank provided a presentation at the Citigroup 2008 Financial Services Conference that included the following key points:
1) Regions is one of the largest US banks with over $140 billion in assets and nearly 2,000 branches across the Southeast.
2) The integration of AmSouth Bank is now complete, with cost saves exceeding original targets.
3) Fourth quarter financial performance was impacted by several one-time charges but credit quality remained stable.
4) Regions has a diversified loan portfolio including commercial real estate, residential mortgages, and consumer loans, with careful management of riskier segments like homebuilders.
This document provides an overview of Regions Financial Corporation, including:
1) Regions is a top 10 U.S. bank holding company by market capitalization, assets, loans, and deposits, with over 1,900 branches across the Southeast and Midwest.
2) Regions has a significant presence and strong local market share across its core states of Alabama, Florida, Tennessee, Louisiana, Mississippi, Georgia, Arkansas, and Texas.
3) The document outlines Regions' key integration accomplishments following its merger with AmSouth Bancorporation, and previews Regions' initiatives and financial performance outlook for 2007.
Regions Bank reported solid financial performance in the second quarter of 2007. Earnings per share were $0.69, excluding merger charges. Net interest margin was 3.82% and return on assets was 1.43%. Credit quality remained strong, with nonperforming assets at 0.62% of loans and net charge-offs at 0.23% of average loans. Regions also made good progress integrating its merger with AmSouth, exceeding cost savings targets and successfully converting branches in Alabama and Florida.
This document provides an overview of Regions Bank, including:
1) Regions is among the largest US banks with $144 billion in assets and over 1,900 branches across its southeastern footprint.
2) It cautions that any forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.
3) Regions has a strong market presence across the southeastern US, ranking first in several states for deposit market share.
The document provides an overview of Regions Financial Corporation's 2007 financial outlook and merger integration progress with AmSouth Bancorporation.
The summary is:
1) Regions expects to realize $180 million in pre-tax earnings from the merger in 2007 through purchase accounting adjustments, cost savings from divestitures and branch consolidations, and $150 million in annual cost saves.
2) Integration activities are on track, with key decisions made regarding systems, culture, and divestitures.
3) Core expectations for 2007 include low-to-mid single digit loan and deposit growth, a net interest margin of around 3.90%, and net charge-offs of mid-20 basis
The document summarizes Regions Bank's 2007 annual shareholder meeting. It provides an overview of Regions' financial performance and position in 2007, including details on the successful integration of its merger. It also outlines challenges from the struggling housing market and strong capital position. Finally, it discusses Regions' strategic initiatives like growing Morgan Keegan and its focus on communities and social responsibility.
Fannie Mae reported a net loss of $2.3 billion for the second quarter of 2008, driven by credit-related expenses of $5.3 billion which included higher charge-offs and an increase in loss reserves. Revenues were $4 billion, up 5% from the prior quarter mainly due to higher net interest income. Fair value gains were $517 million but were offset by investment losses of $883 million from impairments on Alt-A and subprime securities. Fannie Mae issued $7.4 billion in new capital during the quarter to maintain its capital surplus above regulatory requirements. Management is taking actions to reduce costs and increase guaranty fees while focusing on credit risk management through tighter underwriting and expanded loan work
CSC reported revenue growth of 5.1% in the first quarter of fiscal year 2005 compared to the same period last year. Revenue totaled $3.7 billion for the quarter. Net income was $110.4 million and earnings per share were $0.58. CSC saw growth in its European outsourcing and U.S. federal government businesses. The company's pipeline of federal opportunities over the next 20 months stands at around $33 billion. CSC announced $4.9 billion in new awards during the quarter from both commercial and government clients.
Sovereign Bancorp is the parent company of Sovereign Bank, a $85 billion financial institution as of 2007. Sovereign Bank operates 750 community banking offices across the Northeast U.S. and offers retail banking, business banking, and various financial services. In 2007, Sovereign focused on building its core businesses and exiting non-core businesses to improve capital levels, reduce earnings volatility, and position itself for sustainable earnings growth going forward. Key strategies included reducing expenses by over $100 million, improving productivity, and restructuring the balance sheet by selling over $8 billion in non-core assets.
This document summarizes previous research on the effects of bank loan-loss reserve (LLR) announcements and identifies gaps in the existing literature. Specifically:
1. Previous studies found mixed effects of LLR announcements on stock prices, with some finding positive effects and others finding mixed or no effects.
2. Most previous studies focused narrowly on announcements in mid-1987 around Citicorp's large LLR addition, providing a limited perspective.
3. Questions remain about whether effects differ for money-center banks versus regional banks, and whether announcements have contagion effects on other banks.
This document provides an overview and summary of Sallie Mae's business and operations, including:
- Sallie Mae is a top originator, servicer, and collector of student loans with over 10 million customers and $169 billion in managed loans.
- It discusses strong industry trends in higher education enrollment and costs that are driving increased demand for education financing.
- Recent legislative actions and the company's various sources of funding for its student loan origination and securitization activities are also summarized.
- Key performance metrics are presented showing the historically strong credit quality of Sallie Mae's portfolio as well as the effective use of forbearance as a debt management tool for borrowers.
- FY 2007 first quarter net income was $54.3 million, down 66% from $163.9 million in FY 2006 due to write-downs and impairments totaling $105.9 million. Excluding write-downs, earnings were down 27%. Revenues were down 19% to $1.09 billion.
- Housing market demand varied greatly between markets. Some areas like New York City remained strong while others like Chicago and parts of Florida had not yet stabilized. The cancellation rate was lower than last quarter but still above historical averages.
- The company had $4.15 billion in backlog, down 30% from last year, and 67,500 lots under control, down 26%
- Third quarter earnings per share were $1.11, up 5% from prior year. Comparable earnings per share were $1.14, up 2%.
- Fleet Management Solutions revenue was down 1% due to lower fuel and commercial rental revenue, but contractual revenue increased. Earnings were down 10% due to commercial rental declines.
- Supply Chain Solutions revenue was up 8% on new business, but earnings grew 6% due to lower incentive compensation offsetting an automotive plant closure.
- Cash flow from operations was $837 million year-to-date, up from $612 million prior year. Net capital expenditures were $535 million year-to-date, down from $1.
Bank of America Card Services is the leading credit card issuer in the US with $153 billion in outstanding loans. It has a diverse portfolio including credit cards, consumer loans, and international operations. The presentation discusses Bank of America's affinity marketing strategy, which focuses on partnering with organizations to cross-sell multiple products. It highlights opportunities to leverage the MBNA acquisition to expand affinity relationships and cross-sell Bank of America retail banking products to new customer segments.
This document provides an overview of Regions Financial Corporation, including:
1) Regions is a top 10 U.S. bank holding company by market capitalization, assets, loans, and deposits, with over 1,900 branches across the Southeast and Midwest.
2) Regions has a significant presence and strong local market share across its core states of Alabama, Florida, Tennessee, Louisiana, Mississippi, Georgia, Arkansas, and Texas.
3) The document outlines Regions' key integration accomplishments following its merger with AmSouth Bancorporation, and previews Regions' initiatives and financial performance to be discussed.
Regions Bank provided forward-looking statements and associated risk factors in a presentation at the Citigroup 2008 Financial Services Conference. The presentation summarized Regions' financial performance in the fourth quarter of 2007, which included increased credit allowance for loan losses to manage risks, strong revenue from Morgan Keegan, and costs savings exceeding original targets from the AmSouth merger integration. Regions also outlined its diversified loan portfolio and steps taken to reduce concentrations in certain sectors like residential homebuilding.
The document discusses Regions Bank, including:
1) Regions has $144 billion in assets and operates primarily in the Southeast US market.
2) Credit quality deteriorated in 2008 due to the housing downturn. Non-performing assets remained high despite aggressive loan sales and higher loan loss provisions.
3) Regions is focusing on problem loan disposition, tightening underwriting, and loss mitigation to manage credit costs, which increased earnings pressure in Q3 2008.
Regions Bank reported solid financial performance in the second quarter of 2007. Earnings per share were $0.69 and net interest margin was 3.82%. Credit quality remained strong with nonperforming assets at 0.62% of loans and net charge-offs at 0.23% of average loans. The integration of AmSouth was proceeding well, with cost saves exceeding original targets. Regions also outlined initiatives for 2007, including consumer and business banking growth, leveraging its expanded capabilities, and improving productivity.
The document provides an overview of Regions Financial Corporation's 2007 financial outlook and merger integration progress with AmSouth Bancorporation.
The summary is:
1) Regions expects $90 million in net income impact in 2007 from the merger due to purchase accounting adjustments and cost savings offsetting lost income from divested branches.
2) Integration is on track, with organizational structure, systems conversions, and culture development progressing as planned.
3) Strategically, the combined company has opportunities for growth in Florida, de novo branching expansion, and leveraging Morgan Keegan's brokerage platform across a broader footprint.
The document summarizes Regions Bank's 2007 annual shareholder meeting. It provides an overview of the company profile, highlights the successful integration of their 2007 merger and strong financial performance in 2007 and Q1 2008. It also discusses the challenges facing the banking industry from housing and credit markets and how Regions is well positioned through low exposure to subprime mortgages and strong capital and loss ratios compared to peers. The presentation outlines Regions' strategic focus on organic growth in its expanding regional footprint through maximizing its franchise.
The document summarizes Bank of America's operating review and financial results for 2007 and Q1 2008. It discusses factors that contributed to challenges like market dislocations and a weakening economy. While most business lines saw lower profits, consumer and wealth management saw some growth. The CFO notes strategies to refocus businesses and adjust underwriting standards. Asset quality deteriorated with higher provisions and charge-offs. However, the company maintains a strong capital position and liquidity.
Bank of America announces its acquisition of LaSalle Bank. The $21 billion all-cash deal will make Bank of America the leader in the Chicago and Detroit markets, gaining immediate access to 1.3 million retail households and 17,000 commercial clients. The acquisition is expected to be accretive to Bank of America's earnings per share and generate an internal rate of return of 17%. The combined company will have over $1.6 trillion in total managed assets and provide better capabilities and products to customers across both companies.
Bank of America is positioned for success with its large national franchise, focus on operating excellence, and strong track record. The document outlines Bank of America's competitive advantages including its large retail footprint, leading positions in wholesale banking, and growing global capabilities. It also discusses the company's diverse business mix, focus on execution and process improvement, consistent earnings growth, and commitment to returning capital to shareholders.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Mercer Capital's Bank Watch | June 2022 | Bond Pain and Perspective on Bank V...Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Bank of America is acquiring Countrywide Financial to become the largest mortgage originator and servicer in the US. The acquisition will strengthen Bank of America's position as a premier consumer bank by adding Countrywide's large mortgage capabilities and technology platform. The all-stock deal values Countrywide at $2.9 billion and is expected to close in the third quarter of 2008 pending regulatory and shareholder approvals. The acquisition faces near term challenges from the weak housing market but creates opportunities to improve origination practices and acquire a leading mortgage platform.
SunTrust at UBS Global Financial Servicesfinance20
This document provides an overview of SunTrust Banks, Inc. from its 2008 UBS Global Financial Services Conference presentation. It discusses SunTrust's diversified business mix across retail banking, commercial banking, wealth management, and mortgage operations. The presentation highlights SunTrust's footprint in high growth Southeastern markets, its solid capital position and balance sheet, and strategic initiatives to optimize performance. It also reviews SunTrust's balanced sources of funding, focus on reducing risk, and steady dividend growth history.
The document provides an overview and strategic update of Best Buy's international operations. It discusses Best Buy's acquisition of Carphone Warehouse and the opportunity to expand in the large European market. Best Buy plans to leverage Carphone Warehouse's retail expertise in wireless sales and apply the learnings from Canada and China to grow its presence in key markets like the UK, Turkey, and Europe over the next 5 years. The strategic focus is on delivering a best-in-class customer experience through differentiated services and solutions.
The document provides an overview of the Las Vegas office market in the third quarter of 2009. Key points include:
- Overall vacancy rates increased to 20.5% from 20.11% last quarter and 16.7% a year ago. Average asking rental rates declined to $1.95 per square foot from $2.12 last quarter.
- Vacancy rates were highest in the Northwest, Southeast, and Southwest submarkets at 25.7%, 23.8%, and 29% respectively due to newer buildings with little pre-leasing. Downtown and Central East had the lowest vacancies under 15%.
- Landlords are offering increased tenant improvement allowances and free rent to attract tenants, impacting returns
The document provides an overview of the Las Vegas office market in the third quarter of 2009. Key points include:
- Overall vacancy rates increased to 20.5% from 20.11% last quarter and 16.7% a year ago. Average asking rental rates declined to $1.95 per square foot from $2.12 last quarter.
- Vacancy rates were highest in the Northwest, Southeast, and Southwest submarkets at 25.7%, 23.8%, and 29% respectively due to newer buildings with little pre-leasing. Downtown and Central East submarkets had the lowest vacancies under 15%.
- Landlords are offering increased tenant improvement allowances and free rent to attract tenants, impact
Sovereign Bancorp is the parent company of Sovereign Bank, a $85 billion financial institution as of 2007. Sovereign Bank operates 750 community banking offices across the Northeast U.S. and offers retail banking, business banking, and various financial services. In 2007, Sovereign focused on building its core businesses and exiting non-core businesses to improve capital levels, reduce earnings volatility, and position itself for sustainable earnings growth going forward. Key strategies included reducing expenses by over $100 million, improving productivity, and restructuring the balance sheet by selling over $8 billion in non-core assets.
This document summarizes previous research on the effects of bank loan-loss reserve (LLR) announcements and identifies gaps in the existing literature. Specifically:
1. Previous studies found mixed effects of LLR announcements on stock prices, with some finding positive effects and others finding mixed or no effects.
2. Most previous studies focused narrowly on announcements in mid-1987 around Citicorp's large LLR addition, providing a limited perspective.
3. Questions remain about whether effects differ for money-center banks versus regional banks, and whether announcements have contagion effects on other banks.
This document provides an overview and summary of Sallie Mae's business and operations, including:
- Sallie Mae is a top originator, servicer, and collector of student loans with over 10 million customers and $169 billion in managed loans.
- It discusses strong industry trends in higher education enrollment and costs that are driving increased demand for education financing.
- Recent legislative actions and the company's various sources of funding for its student loan origination and securitization activities are also summarized.
- Key performance metrics are presented showing the historically strong credit quality of Sallie Mae's portfolio as well as the effective use of forbearance as a debt management tool for borrowers.
- FY 2007 first quarter net income was $54.3 million, down 66% from $163.9 million in FY 2006 due to write-downs and impairments totaling $105.9 million. Excluding write-downs, earnings were down 27%. Revenues were down 19% to $1.09 billion.
- Housing market demand varied greatly between markets. Some areas like New York City remained strong while others like Chicago and parts of Florida had not yet stabilized. The cancellation rate was lower than last quarter but still above historical averages.
- The company had $4.15 billion in backlog, down 30% from last year, and 67,500 lots under control, down 26%
- Third quarter earnings per share were $1.11, up 5% from prior year. Comparable earnings per share were $1.14, up 2%.
- Fleet Management Solutions revenue was down 1% due to lower fuel and commercial rental revenue, but contractual revenue increased. Earnings were down 10% due to commercial rental declines.
- Supply Chain Solutions revenue was up 8% on new business, but earnings grew 6% due to lower incentive compensation offsetting an automotive plant closure.
- Cash flow from operations was $837 million year-to-date, up from $612 million prior year. Net capital expenditures were $535 million year-to-date, down from $1.
Bank of America Card Services is the leading credit card issuer in the US with $153 billion in outstanding loans. It has a diverse portfolio including credit cards, consumer loans, and international operations. The presentation discusses Bank of America's affinity marketing strategy, which focuses on partnering with organizations to cross-sell multiple products. It highlights opportunities to leverage the MBNA acquisition to expand affinity relationships and cross-sell Bank of America retail banking products to new customer segments.
This document provides an overview of Regions Financial Corporation, including:
1) Regions is a top 10 U.S. bank holding company by market capitalization, assets, loans, and deposits, with over 1,900 branches across the Southeast and Midwest.
2) Regions has a significant presence and strong local market share across its core states of Alabama, Florida, Tennessee, Louisiana, Mississippi, Georgia, Arkansas, and Texas.
3) The document outlines Regions' key integration accomplishments following its merger with AmSouth Bancorporation, and previews Regions' initiatives and financial performance to be discussed.
Regions Bank provided forward-looking statements and associated risk factors in a presentation at the Citigroup 2008 Financial Services Conference. The presentation summarized Regions' financial performance in the fourth quarter of 2007, which included increased credit allowance for loan losses to manage risks, strong revenue from Morgan Keegan, and costs savings exceeding original targets from the AmSouth merger integration. Regions also outlined its diversified loan portfolio and steps taken to reduce concentrations in certain sectors like residential homebuilding.
The document discusses Regions Bank, including:
1) Regions has $144 billion in assets and operates primarily in the Southeast US market.
2) Credit quality deteriorated in 2008 due to the housing downturn. Non-performing assets remained high despite aggressive loan sales and higher loan loss provisions.
3) Regions is focusing on problem loan disposition, tightening underwriting, and loss mitigation to manage credit costs, which increased earnings pressure in Q3 2008.
Regions Bank reported solid financial performance in the second quarter of 2007. Earnings per share were $0.69 and net interest margin was 3.82%. Credit quality remained strong with nonperforming assets at 0.62% of loans and net charge-offs at 0.23% of average loans. The integration of AmSouth was proceeding well, with cost saves exceeding original targets. Regions also outlined initiatives for 2007, including consumer and business banking growth, leveraging its expanded capabilities, and improving productivity.
The document provides an overview of Regions Financial Corporation's 2007 financial outlook and merger integration progress with AmSouth Bancorporation.
The summary is:
1) Regions expects $90 million in net income impact in 2007 from the merger due to purchase accounting adjustments and cost savings offsetting lost income from divested branches.
2) Integration is on track, with organizational structure, systems conversions, and culture development progressing as planned.
3) Strategically, the combined company has opportunities for growth in Florida, de novo branching expansion, and leveraging Morgan Keegan's brokerage platform across a broader footprint.
The document summarizes Regions Bank's 2007 annual shareholder meeting. It provides an overview of the company profile, highlights the successful integration of their 2007 merger and strong financial performance in 2007 and Q1 2008. It also discusses the challenges facing the banking industry from housing and credit markets and how Regions is well positioned through low exposure to subprime mortgages and strong capital and loss ratios compared to peers. The presentation outlines Regions' strategic focus on organic growth in its expanding regional footprint through maximizing its franchise.
The document summarizes Bank of America's operating review and financial results for 2007 and Q1 2008. It discusses factors that contributed to challenges like market dislocations and a weakening economy. While most business lines saw lower profits, consumer and wealth management saw some growth. The CFO notes strategies to refocus businesses and adjust underwriting standards. Asset quality deteriorated with higher provisions and charge-offs. However, the company maintains a strong capital position and liquidity.
Bank of America announces its acquisition of LaSalle Bank. The $21 billion all-cash deal will make Bank of America the leader in the Chicago and Detroit markets, gaining immediate access to 1.3 million retail households and 17,000 commercial clients. The acquisition is expected to be accretive to Bank of America's earnings per share and generate an internal rate of return of 17%. The combined company will have over $1.6 trillion in total managed assets and provide better capabilities and products to customers across both companies.
Bank of America is positioned for success with its large national franchise, focus on operating excellence, and strong track record. The document outlines Bank of America's competitive advantages including its large retail footprint, leading positions in wholesale banking, and growing global capabilities. It also discusses the company's diverse business mix, focus on execution and process improvement, consistent earnings growth, and commitment to returning capital to shareholders.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Mercer Capital's Bank Watch | June 2022 | Bond Pain and Perspective on Bank V...Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Bank of America is acquiring Countrywide Financial to become the largest mortgage originator and servicer in the US. The acquisition will strengthen Bank of America's position as a premier consumer bank by adding Countrywide's large mortgage capabilities and technology platform. The all-stock deal values Countrywide at $2.9 billion and is expected to close in the third quarter of 2008 pending regulatory and shareholder approvals. The acquisition faces near term challenges from the weak housing market but creates opportunities to improve origination practices and acquire a leading mortgage platform.
SunTrust at UBS Global Financial Servicesfinance20
This document provides an overview of SunTrust Banks, Inc. from its 2008 UBS Global Financial Services Conference presentation. It discusses SunTrust's diversified business mix across retail banking, commercial banking, wealth management, and mortgage operations. The presentation highlights SunTrust's footprint in high growth Southeastern markets, its solid capital position and balance sheet, and strategic initiatives to optimize performance. It also reviews SunTrust's balanced sources of funding, focus on reducing risk, and steady dividend growth history.
The document provides an overview and strategic update of Best Buy's international operations. It discusses Best Buy's acquisition of Carphone Warehouse and the opportunity to expand in the large European market. Best Buy plans to leverage Carphone Warehouse's retail expertise in wireless sales and apply the learnings from Canada and China to grow its presence in key markets like the UK, Turkey, and Europe over the next 5 years. The strategic focus is on delivering a best-in-class customer experience through differentiated services and solutions.
The document provides an overview of the Las Vegas office market in the third quarter of 2009. Key points include:
- Overall vacancy rates increased to 20.5% from 20.11% last quarter and 16.7% a year ago. Average asking rental rates declined to $1.95 per square foot from $2.12 last quarter.
- Vacancy rates were highest in the Northwest, Southeast, and Southwest submarkets at 25.7%, 23.8%, and 29% respectively due to newer buildings with little pre-leasing. Downtown and Central East had the lowest vacancies under 15%.
- Landlords are offering increased tenant improvement allowances and free rent to attract tenants, impacting returns
The document provides an overview of the Las Vegas office market in the third quarter of 2009. Key points include:
- Overall vacancy rates increased to 20.5% from 20.11% last quarter and 16.7% a year ago. Average asking rental rates declined to $1.95 per square foot from $2.12 last quarter.
- Vacancy rates were highest in the Northwest, Southeast, and Southwest submarkets at 25.7%, 23.8%, and 29% respectively due to newer buildings with little pre-leasing. Downtown and Central East submarkets had the lowest vacancies under 15%.
- Landlords are offering increased tenant improvement allowances and free rent to attract tenants, impact
Thompson Toc Pw Merrill Lynch Conf London 6 7 07i3mm
The presentation discusses Thomson Corporation's legal segment and its proposed combination with Reuters Group PLC to create a global leader in electronic information services. Some key points:
1) The combination would meet customers' growing demand for broader, faster, and more deeply integrated information and solutions across knowledge-based industries.
2) The new company would have pro forma 2006 revenue of over $11 billion split between the financial and professional segments.
3) Over 86% of combined revenue would be recurring and around 88% would come from electronic, software, and services.
Valuation Of Complex Financial Assets In Illiquid Marketsbsteffen
The 5-year single name CDS contract would be valued using a structural or reduced form default model to estimate the expected default probabilities over the 5-year period. These default probabilities would then be combined with the expected recovery rates on senior unsecured debt to calculate the expected protection payments under the CDS. The expected cash flows would then be discounted using an interest rates model to solve for the CDS price that sets the net present value of payments equal to zero. A sensitivity analysis varying the cumulative default probabilities and recovery rates could also be performed.
Region Financial Corp (RF) is a regional bank headquartered in Birmingham, Alabama. In the recent quarter, RF beat earnings estimates with EPS of $0.80 compared to the forecast of $0.78. However, revenue growth was lower than expected at 7.9% versus the forecast of 8.2%. The document provides an analysis of RF's current performance, earnings surprise outcome, qualitative analysis of management statements discussing future risks and opportunities, and recommendations to consider buying RF stock.
Sanjiv Khattri, Executive Vice President and CFO – GMAC Financial Services M...finance8
The document summarizes a presentation given by Sanjiv Khattri, CFO of GM, at a 2006 GM/GMAC conference. It discusses GMAC's financial performance in 2005 and Q1 2006, highlighting strong net income and return on equity. It also outlines GMAC's strong liquidity position, evolution of its US term funding, and components of GM's planned sale of a 51% controlling stake in GMAC to a consortium led by Cerberus Capital.
This document is BB&T Corporation's 2005 annual report. It provides financial highlights for 2005, noting that net income increased 6.1% to $1.654 billion and diluted earnings per share grew 7.1% to $3.00. Operating earnings rose 7.2% to $1.674 billion. Cash basis operating earnings, which exclude intangible assets and purchase accounting adjustments, increased 7.1% to $1.763 billion. The report discusses BB&T's strong loan, deposit and balance sheet growth in 2005 and notes the bank hired additional revenue producers and implemented strategies to boost organic account growth.
BB&T reported 2008 net income of $1.5 billion and earnings per common share of $2.71. For the fourth quarter of 2008, net income totaled $305 million and net income available to common shareholders totaled $284 million, or $.51 per diluted common share. For the full year 2008, BB&T's net income available to common shareholders was $1.50 billion compared to $1.73 billion earned in 2007, a decrease of 13.6%.
- BB&T Corporation reported lower operating earnings for the fourth quarter of 2008 compared to the same period in 2007. Operating earnings available to common shareholders decreased 41.4% to $243 million.
- Net interest income increased 14.2% to $1,132 million due to higher interest income, but this was more than offset by a large increase in the provision for credit losses of $344 million.
- Returns and profitability ratios declined from the prior year, with the return on average common equity decreasing to 7.26% and the efficiency ratio worsening to 51.9%.
This document is a proxy statement from Carolina Power & Light Company (CP&L) informing shareholders about the upcoming annual shareholder meeting on May 14, 2008. The meeting will address the election of two Class I directors and the ratification of Deloitte & Touche LLP as the company's independent registered public accounting firm. Shareholders are encouraged to vote by proxy card or telephone in order to have their votes counted if they do not attend the meeting in person.
This document is a proxy statement from Progress Energy, Inc. inviting shareholders to attend the company's 2008 Annual Meeting of Shareholders on May 14, 2008. The matters to be voted on include the election of directors, ratification of the selection of the independent registered public accounting firm, and a shareholder proposal regarding executive compensation. Shareholders are urged to vote by proxy card, telephone, or online in order to have their votes counted if they do not attend the meeting in person.
The document summarizes Bill Johnson's presentation at the Morgan Stanley Global Electricity & Energy Conference on April 3, 2008. The presentation outlines Progress Energy's strategy to secure its energy future through operational excellence, growth prospects like rate base expansion, and maintaining constructive regulation. It highlights Progress Energy's two regulated utilities with strong growth prospects and discusses key strategic issues like US climate change policy and needed new baseload capacity like the proposed Levy County nuclear project.
Bill Johnson, Chairman, CEO, and President of Progress Energy, presented at the company's annual shareholder meeting. He discussed Progress Energy's history of over 100 years in business, highlights from 2007 including financial and operational achievements as well as sustainability recognition, strategic focus on its two electric utility subsidiaries serving North Carolina and Florida. Johnson also outlined Progress Energy's balanced strategy to address issues like climate change, demand growth, and costs while maintaining reliability and affordability. He discussed governance practices and executive compensation policies.
Progress Energy reported first quarter 2008 results. Earnings were lower than expected due to milder than normal weather and lower customer growth and usage, particularly in Florida. The company reaffirmed its 2008 earnings guidance. Several regulatory filings and projects remained on track. Key nuclear, natural gas, and transmission projects were progressing to increase capacity and meet renewable energy goals. While economic conditions had softened retail demand, cost management and additional wholesale contracts were expected to offset impacts.
The document summarizes Progress Energy's Q2 2008 earnings call. It discusses the company reaffirming its 2008 ongoing earnings guidance of $3.05 per share despite challenges in Florida. It also provides updates on recent court rulings impacting emissions regulations, the Levy County nuclear project, and major capital expenditure projects. Progress Energy's CFO discusses the company's quarterly and year-to-date financial performance and steps taken to offset weakness in Florida retail markets through increased wholesale contracts.
Bill Johnson, CEO of Progress Energy, outlined the company's strategy to secure its energy future at a Lehman Brothers energy conference. Progress Energy operates as two high-performing electric utilities serving North Carolina and Florida. The company is focused on achieving annual EPS growth of 4-5% through rate base expansion and pursuing a balanced solution to meet energy needs and address climate change, while maintaining excellent operational and financial performance. A key part of this strategy is the proposed Levy Nuclear Project, a two-unit nuclear plant in Florida that would help reduce costs and carbon emissions.
This document summarizes a presentation given by Mark Mulhern, Senior Vice President and CFO of Progress Energy, at a Power & Gas Leaders Conference on September 24, 2008. The presentation discusses Progress Energy's strategy of securing its energy future through significant rate base growth, nuclear expansion projects, and maintaining a supportive regulatory environment. It provides an overview of Progress Energy's utilities in North Carolina and Florida, outlines major capital investment projects, and reviews the company's financial position and objectives to achieve steady earnings growth.
The document summarizes Progress Energy's Q3 2008 earnings call. It discusses ongoing earnings of $306M for Q3 2008, regulatory updates in the Carolinas and Florida, energy efficiency and alternative energy programs, and $7-8B in capital expenditures through 2013 for major generation projects. Cost controls have kept year-to-date O&M expenses flat compared to 2007 despite 2.5% reported growth. Customer growth has been positive but milder weather reduced retail usage. Guidance of $2.95-3.05 for 2008 ongoing earnings is maintained based on a trailing 12-month EPS of $2.91. Liquidity remains strong with $1.9B in available credit facilities and cash.
Progress Energy held a financial conference in Phoenix, Arizona on November 10-11, 2008. The conference focused on providing an overview of the company including its growth strategy and regulatory updates. Progress Energy is the largest regulated electric utility in the US with significant projected rate base growth through 2010 driven by investments in its regulated operations in North Carolina and Florida. Regulatory proceedings in both states approved various cost recovery filings which will support continued investment and earnings growth.
This document is a presentation by Bill Johnson, Chairman and CEO of Progress Energy, given at the EEI Financial Conference in Phoenix, AZ on November 11, 2008. The presentation provides an overview of Progress Energy, including its strategic focus on achieving long-term annual EPS growth of 4-5%, pursuing a balanced solution to secure the energy future, and sustaining financial strength during nuclear construction. It also discusses Progress Energy's regulated utilities, major capital projects, regulatory updates, and long-term financial objectives.
The document is a transcript from Progress Energy's 4Q 2008 earnings call. It discusses Progress Energy's financial results for 4Q and full year 2008, highlights achievements that position the company well for 2009, and reviews major capital projects and regulatory initiatives. Progress Energy affirmed its 2009 ongoing earnings guidance of $2.95 to $3.15 per share. The call also provided updates on Florida rate filings and the Levy Nuclear Project.
- Progress Energy reported financial results for the second quarter and first half of 2001. Total operating revenues increased $1.4 billion for the first half compared to the same period in 2000 due to the acquisition of Florida Power Corporation.
- Net income increased $73 million to $266 million for the first half, with earnings per share rising from $1.26 to $1.33. Earnings were positively impacted by the addition of Florida Power Corporation but faced higher interest charges and goodwill amortization from the acquisition.
- Operating revenues and energy sales increased across electric, natural gas, and diversified business segments. However, net income faced pressures from weather-related declines in electricity usage, higher operation and maintenance
This document provides unaudited consolidated interim financial information for Progress Energy, Inc. for the third quarter and first nine months of 2001 compared to the same periods in 2000. Some key highlights include:
- Revenues increased significantly from acquisitions completed in late 2000, including the addition of Florida Power Corporation.
- Operating income increased driven by customer growth, favorable weather, and acquisitions, partially offset by higher fuel and purchased power costs.
- Net income increased due to the addition of Florida Power Corporation and other acquisitions, partially offset by higher interest charges and goodwill amortization.
- Earnings per share increased to $1.77 and $3.12 for the quarter
Progress Energy reported earnings of $2.65 per share for 2001, meeting expectations. Earnings were positively impacted by its non-regulated businesses which offset the effects of mild weather and an industrial slowdown. It also received tax rulings for four synthetic fuel plants and reaffirmed its 2002 guidance of $3.90 to $4.10 per share.
progress energy 1Q 02 earnings releaseFinal_allfinance25
Progress Energy reported first quarter earnings per share of $0.62, and $0.77 excluding one-time items. A rate settlement in Florida contributed $0.10 per share in retroactive revenue. Progress Energy reaffirmed its 2002 EPS guidance of $3.90 to $4.10. Several factors including mild weather, economic conditions, and debt issuance impacted the year-over-year EPS difference of $0.11.
progress energy 2Q 02earnings release Finalfinance25
Progress Energy reported second quarter 2002 earnings per share of $0.56, or $0.83 excluding non-operating items. This was in line with guidance. Key highlights included reaching long-term rate agreements in Florida and North Carolina that stabilize rates through 2005 and 2007 respectively. For 2002, the company expects ongoing earnings between $3.90-$4.00 per share, within previous guidance despite industrial slowdowns impacting some regions.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
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Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
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2. FORWARD LOOKING STATEMENT
The information contained in this presentation may include forward looking statements which reflect Regions' current views with respect to future events and financial performance.
The Private Securities Litigation Reform Act of 1995 (quot;the Actquot;) provides a safe-harbor for forward-looking statements which are identified as such and are accompanied by the
identification of important factors that could cause actual results to differ materially from the forward-looking statements. For these statements, we, together with our subsidiaries,
unless the context implies otherwise, claim the protection afforded by the safe harbor in the Act. Forward-looking statements are not based on historical information, but rather are
related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management's expectations as well as certain
assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and
are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements.
These risks, uncertainties and other factors include, but are not limited to, those described below:
● Regions' ability to achieve the earnings expectations related to businesses that have been acquired, or that may be acquired in the future, including its merger with AmSouth
Bancorporation (quot;AmSouthquot;), which in turn depends on a variety of factors, including:
○ Regions' ability to achieve the anticipated cost savings and revenue enhancements with respect to the acquired operations, or lower than expected revenues from
continuing operations;
○ the assimilation of the acquired operations to Regions' corporate culture, including the ability to instill appropriate credit practices and efficient approaches to the acquired
operations;
○ the continued growth of the markets that the acquired entities serve, consistent with recent historical experience;
○ difficulties related to the integration of the businesses, including integration of information systems and retention of key personnel.
● Regions' ability to expand into new markets and to maintain profit margins in the face of competitive pressures.
● Regions' ability to keep pace with technological changes.
● Regions' ability to develop competitive new products and services in a timely manner and the acceptance of such products and services by Regions' customers and potential
customers.
● Regions' ability to effectively manage interest rate risk, market risk, credit risk and operational risk.
● Regions' ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support Regions'
business.
● The cost and other effects of material contingencies, including litigation contingencies.
● Further easing of restrictions on participants in the financial services industry, such as banks, securities brokers and dealers, investment companies and finance companies,
may increase competitive pressures.
● Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins.
● Possible changes in general economic and business conditions in the United States in general and in the communities Regions serves in particular may lead to a
deterioration in credit quality, thereby increasing provisioning costs, or a reduced demand for credit, thereby reducing earning assets.
● The occurrence of natural disasters or the threat or occurrence of war or acts of terrorism and the existence or exacerbation of general geopolitical instability and uncertainty.
● Possible changes in trade, monetary and fiscal policies, laws, and regulations, and other activities of governments, agencies, and similar organizations, including changes in
accounting standards, may have an adverse effect on business.
● Possible changes in consumer and business spending and saving habits could affect Regions' ability to increase assets and to attract deposits.
The words quot;believe,quot; quot;expect,quot; quot;anticipate,quot; quot;project,quot; and similar expressions signify forward looking statements. Readers are cautioned not to place undue reliance on any forward
looking statements made by or on behalf of Regions. Any such statement speaks only as of the date the statement was made. Regions undertakes no obligation to update or
revise any forward looking statements.
3. A Top Ten U.S. Bank Holding Company
National Rank1
› Market Capitalization $26 billion 10th
› Assets $138 billion 10th
› Loans, net of unearned income $94 billion 9th
› Deposits $95 billion 8th
› Branches 1,913 7th
› ATMs 2,590 8th
1 As of March 31, 2007.
4. Franchise Footprint
State Dep. ($B) Mkt. Share Rank
AL $20.8 30% #1
FL 18.4 5 #4
TN 17.6 17 #2
LA 7.8 11 #3
MS 6.5 16 #1
GA 5.5 3 #6
AR 4.4 10 #1
TX 2.9 1 #19
MO 2.3 2 #7
IN 1.9 2 #10
Other 4.3 — —
Regions
Morgan Keegan
Insurance
Source: SNL DataSource. Deposit data as of 30-Jun-2006.
5. Strong Local Market Share
Weighted
Top U.S. Average
Market Share1
Banks
Wells Fargo 23.8%
BB&T 21.3
Regions / AmSouth 20.4
Wachovia 20.3
Regions compares
JPMorgan Chase 19.2
favorably in terms of
Bank of America 18.8
local market share
relative to other top 10
Fifth Third 18.7
banking franchises
US Bancorp 17.8
Regions 15.7
AmSouth 15.4
National City 15.1
SunTrust 14.9
Citigroup 10.9
1 Deposit weighted by county. Excludes deposits from branches with > $10bn of deposits. Based on June 30, 2006 data.
Note: Excludes divested branches.
6. Key Integration Accomplishments
› Announced Organizational Decisions
› Identified Major Systems and Started Conversions
› Completed Divestitures
› Began Executing Branch Consolidation Plans
› Cost Saves on Track
› Capital Management
7. Organizational Structure
Lines of
Geographies
Business
Alabama Business Banking
Matrix Business
East Commercial Banking
Model
Florida Consumer Banking
Midwest Private Banking
Mississippi Mortgage
Tennessee Morgan Keegan
West Trust & Asset Mgmt
8. Conversion Timeline
Combined • Achieve $400
Product Set MM Annual
& Incentives Run-rate in
Complete Sale Cost Saves
of Divested
Branches
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08
Brokerage • Phase One • Phase Two • Phase Three • Phase Four
Conversion Branch Branch Branch Branch
Mortgage Conversion Conversion Conversion Conversion
Origination &
• Trust
Servicing
Conversion Conversion
9. Required Branch Divestitures
All divestitures completed in 1Q07.
Total Total
Deposits Loans
State # of
($B) ($B)
Branches
Mississippi 6 .3 .1
Tennessee 7 .4 .1
Alabama 39 $2.0 $1.5
Total 52 $2.7 $1.7
Expected impact to pre-tax income: $23MM per quarter.
11. Net Cost Saves: On-track
Net Cost Savings
4Q06 $7 MM
Estimated
2007E $150 MM
Estimated
2008E Full run-rate achieved by 2Q 2008 $400 MM
$0 $100 $200 $300 $400
12. Branch Consolidations
Florida 35 Targeted closure
Event 1
Alabama 31 dates to coincide with
system conversions
Tennessee 55
Louisiana 17 Event 2
Significant source of
Mississippi 12
efficiency gain
Georgia 2
Event 3
Arkansas 2
Missouri 2 Event 4
Total 156
13. Capital Management – A Strategic Opportunity
› During 2Q07:
• Lowered overall cost of capital by issuing $700MM 6.625%
Enhanced Trust Preferred Securities
• Executed accelerated 14.2MM share repurchase
› Capital ratios remain strong
Projected
1Q07 2Q07
Tier 1 Capital 7.96% 7.90%
Total Risk Based 11.22 11.40
Tangible Common 6.52 6.20
14. Total Loan Portfolio – March 31, 2007
Other Consumer
Indirect 2%
Home Equity
Commercial / Leasing
5%
17%
22%
1-4 Family Construction
Alt A 4%
3%
Land and Other
Construction
13%
Residential First
Multifamily
Mortgage
2%
15%
Ow ner Occupied Real
Other Commercial Real
Estate
Estate
12%
5%
› Over 50% of the Commercial and Industrial and Commercial Real Estate
portfolio is under $3 million in note size
Loan Portfolio per Call Report Schedule RC-C
15. Commercial Real Estate (CRE)
› The CRE portfolio is diversified by product, loan size, and by
geography
› Our CRE portfolio is very granular with the average note size under
$500 thousand
› This average note size is reflective of real estate done in our
Community Banks
› These loans are generally underwritten based on the individual
borrower’s financial strength and consequently provide a
different risk profile than larger CRE loans
› The Top 5 MSA concentrations are Atlanta, Miami, Nashville,
Tampa, and Birmingham, all of which are under 10%
16. Commercial Real Estate by Product
Other Commercial 1-4 Family
Real Estate Construction
14% 12%
Land and Other
Owner Occupied
Construction
Real Estate
37%
33%
Multifamily
4%
› Owner Occupied Commercial Real Estate is based on the credit strength of the
operating company (borrower) and does not depend on the real estate for
repayment
Commercial Real Estate by Product per Call Report Schedule RC-C
17. Commercial Real Estate by Geography
Other
NC 12%
6% FL
TX
29%
6%
LA
5%
MO
3%
TN
9%
GA
AR
SC 12%
AL
4%
4% 10%
18. Florida Real Estate
› Florida Commercial Real Estate:
› 29% of our Commercial Real Estate outstandings are in Florida
› 75% of the Florida outstandings are in the following high-growth MSAs: Tampa Bay
Area, Miami, Panhandle, Orlando, Jacksonville, Naples, and Ft. Myers
› Florida Consumer Real Estate:
› Our Consumer exposure has low default probabilities as evidenced by the high average
FICO scores of over 720
› There is good protection in the property as evidenced by an average LTV of 72%, which
does not reflect past price appreciation
› Florida economy:
› Despite the slowdown in the housing markets, the Florida economy continues to
perform well
› The unemployment rate is 3.3%, improved since last year and below the national average
› Jobs lost in the residential construction area have been largely offset by gains in heavy
and civil engineering construction and ongoing growth in Florida’s core economy
19. Consumer Real Estate Portfolio
Residential First
Mortgage
15%
Alt A
3%
Home Equity
17%
Remaining Loan
Portfolio
65%
› Average Loan Size = $125 thousand
› 71% are first lien position
› Weighted Average LTV FICO
› Total Portfolio 72% 730
› Alt A 73% 729
› No negative amortizing mortgages
› No Option Adjustable Rate Mortgages
› EquiFirst sold 1Q2007