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| 8-K - FORM 8-K - CITIZENS SOUTH BANKING CORP | f8k_052711.htm |
Citizens South
Banking Corporation
Banking Corporation
Howe Barnes Hoefer & Arnett
Chicago, IL
May 27, 2011
NASDAQ: CSBC
Forward Looking Statements
Statements contained in this presentation, which are not historical facts, are
forward looking statements. The Company’s senior management or directors may
from time to time make public forward looking statements concerning matters
herein. Such forward looking statements are estimates reflecting the best judgment
of senior management or the directors based on current information. A number of
factors that could affect the accuracy of such forward looking statements are
identified in the public filings made by the Company with the Securities and
Exchange Commission on Forms 10-Q and 10-K. The Company undertakes no
obligation to publicly revise any forward looking statements to reflect events and
circumstances that may arise after the date hereof. There can be no assurance the
such factors will not affect the accuracy of such forward looking statements.
forward looking statements. The Company’s senior management or directors may
from time to time make public forward looking statements concerning matters
herein. Such forward looking statements are estimates reflecting the best judgment
of senior management or the directors based on current information. A number of
factors that could affect the accuracy of such forward looking statements are
identified in the public filings made by the Company with the Securities and
Exchange Commission on Forms 10-Q and 10-K. The Company undertakes no
obligation to publicly revise any forward looking statements to reflect events and
circumstances that may arise after the date hereof. There can be no assurance the
such factors will not affect the accuracy of such forward looking statements.
Overview of Presentation
• Corporate Profile
• Financial Performance Trends
• Asset Quality Trends
• Experienced Management Team
• Market Data
• FDIC- Assisted Acquisitions
• Long-Term Objectives
• Future Opportunities
Corporate Profile
• Founded in 1904
• Converted from a Mutual in 1998
• Four acquisitions since 2001
• Two FDIC-assisted transactions
• Twenty-one offices in NC, SC, and GA
• Assets exceeding $1.1 billion
Financial Performance Trends
Non-Covered Loan Portfolio
Composition (000’s)
Composition (000’s)
Deposit Composition (000’s)
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Asset Quality Trends
Experienced Management Team
Name and Experience
Prior Service
Education
Citizens South Headquarters
Citizens South Bank Locations
Market Area-2011
Bank of Hiawassee Locations
Charlotte Market Data
• Eight Fortune 500 companies are headquartered in Charlotte.(1)
• Housing prices in the market have stabilized.(2)
• Increasing business diversification is a source of strength.
• NASCAR
• Energy
• Technology
(1) Charlotte Chamber of Commerce
(2) Case-Shiller home-price index, February 2011
Deposit Market Share (06/30/2010)
Deposit Data Source: SNL Financial and FDIC Deposit Market Share Report of 06/30/2010.
*Includes deposit market share data for New Horizons Bank’s county of operation as of 06/30/2010.
*Includes deposit market share data for New Horizons Bank’s county of operation as of 06/30/2010.
NC/SC Counties with a CSB Office
2010 Deposit Share
(in thousands)
GA Counties with a CSB Office
2010 Deposit Share*
(in thousands)
Bank of Hiawassee Acquisition
• Acquisition date - March 19, 2010
• Over 100 years old
• $286 million in assets:
• Approximately $230 million in loans
• Approximately $291 million in deposits
• Loss sharing agreement with FDIC covers all acquired
loans, and reimburses 80% of losses
loans, and reimburses 80% of losses
• Located in Northeast Georgia
• Four full-service locations
New Horizons Bank Acquisition
• Acquisition Date: April 15, 2011
• $107.6 million in assets:
• Approximately $76.1 million in loans
• Approximately $101.9 million in deposits
• Loss sharing agreement with FDIC covers
substantially all acquired loans, and reimburses 80%
of future losses
substantially all acquired loans, and reimburses 80%
of future losses
• Located in Northeast Georgia
• One full-service location
Long-Term Objectives
• Broadened Geographic Footprint (Western NC and
Upstate SC)
Upstate SC)
• FDIC-assisted Transactions
• Traditional Acquisitions
• More Disciplined Operating Model
• Relationships vs. Transactions
• Improved Pricing (Loans and Deposits)
• Management Team - Depth & Breadth
Future Opportunities
• Consolidated Industry
• Challenges Present Opportunities
• Regulatory Reform
• TARP
• Higher Capital Requirements
• Charter Choice
Contact Information
Citizens South Banking Corporation
Nasdaq: CSBC
519 South New Hope Road
Gastonia, NC 28054
For More Information Contact
Kim S. Price
President and Chief Executive Officer
Citizens South Banking Corporation
(704) 884-2260