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1 Invictus Consulting Group Presentation to NJ Bankers Annual Conference May, 2016
2 Disclaimer Certain slides which contain sensitive, proprietary information have been redacted from this version of the presentation. The slides contained herein were designed as a supplement to the oral presentation and, as such, are not intended to be fully comprehensible on a standalone basis. 2
3 Objective: Unfair Advantage 24/7/365 M&A provide fast, accurate, and relevant decision making information for management at all stages of the transaction The competitive edge differentiation from the market focusing on the following: Standalone pro forma analysis Hidden value/pitfalls Capital adequacy adjustments Valuation Consolidated value proposition Relative market value Alternative acquisition options / Proactive strategies
4 Invictus Analytics Vintage Analysis
5 Loans As Reported (Sample Bank) As reported in Call Report XYZ Bank CRE Investor Owned
6 Loan Classifications (Sample Bank) Risk Rating: Best Excellent Better than Avg Average Satisfactory Watch Spec Mention Substandard Doubtful Loss Loan Classifications XYZ Bank CRE Investor Owned
7 Loan Classifications (Sample Bank) Risk Rating: Best Excellent Better than Avg Average Satisfactory Watch Spec Mention Substandard Doubtful Loss Loan Classifications XYZ Bank CRE Investor Owned Loan risk classifications are determined based on historical review and year to date performance
8 Invictus LoanLayering TM by Loan Vintage Current Period Loan Composition (by Origination) XYZ Bank CRE Investor Owned
9 Invictus LoanLayering TM to Define Redeployment and Impact on Profitability CRE Investor Owned
10 Identifying Vintage Risk Two Identical CRE Loans Best/Excellent Classification Loan 1 (originated 2009) vs. Loan 2 (originated 2014)
11 Focus on Risk Loan Review Limitations Identically Classified Loans of Different Vintages Loan 1 (2009) Loan 2 (2014) Loan Value Margin of Safety Loan Value Margin of Safety At Time of Origination: $160 $160 Debt Service Coverage Ratio: 1.25 Loan to Value: 80% Property Value: $100 Loan Value: $80 $140 $120 $100 $80 $60 $40 $20 $80 $140 $120 $100 $80 $60 $40 $20 $80 $20 $20 $ $ Traditional loan review would classify each loan identically.
12 This Section has been redacted for the printed presentation. 12
13 Objective: Unfair Advantage 24/7/365 M&A provide fast, accurate, and relevant decision making information for management at all stages of the transaction The competitive edge differentiation from the market focusing on the following: Standalone pro forma analysis Hidden value/pitfalls Capital adequacy adjustments Valuation Consolidated value proposition Relative market value Alternative acquisition options / Proactive strategies
14 Standalone pro forma analysis. Banker s/internal Projections
15 Traditional Analytics Standalone pro forma analysis Pro Forma Loan Growth Traditionally declining focus Sample Target Loan Growth Forecasts Based on Historical Trend ProForma Pro Forma Financials TTM Pro Forma ($Ms) 2015Q3 Year 1 Year 2 Year 3 Assets $127 $145 $162 $180 Gross Loan Yield 4.63% 4.63% 4.63% 4.63% Estimated Gross Yield on Loans 4.63% Total Assets
16 Objective: Unfair Advantage 24/7/365 M&A provide fast, accurate, and relevant decision making information for management at all stages of the transaction The competitive edge differentiation from the market focusing on the following: Standalone pro forma analysis Hidden value/pitfalls Capital adequacy adjustments Valuation Consolidated value proposition Relative market value Alternative acquisition options / Proactive strategies
17 Invictus Analytics versus Traditional Analytics Capital Adequacy
18 Capital Adequacy: Traditional Analysis Hidden value/pitfalls Capital adequacy adjustments 9.1%
19 Invictus Analytics Actual Client Example
20 Capital Adequacy: In Practice Hidden value/pitfalls Capital adequacy adjustments Total Assets Tier 1 Capital $35 0 $30. 0 $30 0 $25 0 $20 0 $15 0 $10 0 $297 $225 Target 1 Target 2 $25. 0 $20. 0 $15. 0 $10. 0 $5.0 $ $ % Leverage Ratio $ % Leverage Ratio Target 1 Target 2 $50 $ 20
21 Capital Adequacy: In Practice Target 1: Losses Under Stress Target 1 s strong preprovision earnings not enough to offset capital losses Target 2: Losses Under Stress Target 2 s leverage ratio stays relatively flat under stress and the bank remains wellcapitalized 21
22 Capital Adequacy: In Practice Hidden value/pitfalls Capital adequacy adjustments Target 1 Target 2 22
23 Objective: Unfair Advantage 24/7/365 M&A provide fast, accurate, and relevant decision making information for management at all stages of the transaction The competitive edge differentiation from the market focusing on the following: Standalone pro forma analysis Hidden value/pitfalls Capital adequacy adjustments Valuation Consolidated value proposition Relative market value Alternative acquisition options / Proactive strategies
24 Invictus Transaction Value
25 Attending Bank X RE: Residential 1st Lien Step 2: Applying Risk/Reward Valuation Consolidated value proposition RE Resi 1st
26 Objective: Unfair Advantage 24/7/365 M&A provide fast, accurate, and relevant decision making information for management at all stages of the transaction The competitive edge differentiation from the market focusing on the following: Standalone pro forma analysis Hidden value/pitfalls Capital adequacy adjustments Valuation Consolidated value proposition Relative market value Alternative acquisition options / Proactive strategies
27 Leaders & Bleeders Attending Bank X
28 Invictus Acquisition Gauge All Banks in the USA Relative market value Alternative acquisition options / Proactive strategies
29 All Banks in 150 miles By Distance (HQ to HQ) Relative market value Alternative acquisition options / Proactive strategies miles miles CUMULATIVE POTNEUNMTIBAELRAOCQFUBAISNITKIOSNS Rule of Thumb vs. FreeCapital miles <25 miles Attending Bank X
30 Yellow Pages Book Relative market value Alternative acquisition options / Proactive strategies Invictus analytics on every potential target in market Ongoing process throughout the year
31 Invictus Analytics Stage I, II, & III Your Bank Appropriate Economic Data (via Invictus) Reports Loan Level Data Loan Level Vintages Appropriate Analytics Risk Stress Model Testing Stress Model Testing B Re o g a u r l d ato re ry po Co rt m s m fo u r n c ic a a p ti i o ta n l / a Tr s a s n e s s a s c m tio e n n A ts pproval CBoEaCrLd rsetpyolertsanfoarlcyaspisital DasuseessDmileignetsnce /Model V CEa C li L d S a t t y i l o e n an re al p ys o i r s t Due Diligence Loan Level Interest Rates Appropriate Analytics Earnings SMtraotdeeglic PStlarantne ignigc Planning B o C a a r p d i / t R al e P g l u an la n t i o ng ry / r P e r p o o fo r r t ma inc S l t u r d es in s g Te : sting BoaCradp/Riteagl. sretrpaotretginyclausdsiengs:sment LCiaqpuitiadlisttyrapterogyfialessessment R Li i q s u k i / d R ity ew pr a o r f d ile profile Risk/Reward profile InInfoformrmataitoionnDDereirvievded from PfurobmliclPyuAbvliacilyable DatAav(avilaabInleviDctautas) Appropriate Analytics Custom M&A Model Data RInvm Due Diligence r De a p ta o R rt oom Due Diligence report Consolidation analysis analysis Consolidated stress test C Re o g n u s la o t l o id ry a / t B e o d ar s d t / r S e h s a s re te ho st lder R re e p g o u rt l s atory/board/sharehol der reports
32 Thank You For more information about Invictus, please contact: George Callas Managing Partner & National Sales Director (718)
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