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| 8-K - FORM 8-K - Sunshine Bancorp, Inc. | d74969d8k.htm |
 Investor
Presentation 2
nd Quarter 2015 Exhibit 99.1 |
 2 Except for the historical information contained in this presentation, the matters discussed may be deemed to be
forward-looking statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, that involve risks and uncertainties.
Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,”
“estimate” and “intend” or future or conditional
verbs such as “will,” “would,” “should,” “could” or “may”. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from
expected results include increased competitive pressures; changes in the interest rate
environment; demand for loans in Sunshine Bank’s market area;
adverse changes in general economic conditions, either nationally or in
Sunshine Bank’s market areas; adverse changes within the securities markets; the
successful integration of our recently completed acquisition; legislative
and regulatory changes that could adversely affect the business in which
the Company and Sunshine Bank are engaged; the future earnings and capital levels of
Sunshine Bank; and other risks detailed from time to time in the
Company’s Securities and Exchange Commission filings. We caution readers not to place undue reliance on forward-looking statements contained in this presentation. The company disclaims
any obligation to revise or update any forward-looking statements contained in this
presentation to reflect future events or developments.
Forward-Looking Statements |
 3 Why Sunshine? Building on a strong foundation Established in 1954 Solid deposit base, total deposit cost as of June 30, 2015 was 0.20% Seasoned management team More than 175 years of banking experience Focused on dynamic franchise creation Emphasis on shareholder value maximization Attractive markets Footprint yields diverse economic drivers Strong projected population growth Vision for growth Organic growth complimented by strategic opportunities Positively impacting lives |
 4 |
 Current
Sunshine Bank Profile 5
Total Assets $ 476,989 Net Loans $ 307,002 Total Deposits & Repo $ 352,582 Tangible Equity / Tangible Assets 11.1% NPAs / Total Assets 0.19% Note: Date for data is: 6/30/2015 Financial Highlights ($000) Corporate Overview NASDAQ SBCP Headquarters Plant City, FL Established November 1954 Mutual Conversion July 2014 Branches 8 +Tampa & Orlando LPOs
Building a Strong Foundation For the Future |
 Transformational Events 6 November 1954 Sunshine Federal Savings and Loan Association is formed in Plant City, FL July 2014 Sunshine converts from mutual to stock ownership adding over $42 million in new capital; Sunshine Bancorp, Inc. is formed as holding company and common shares are listed on NASDAQ under the ticker SBCP October 2014 New management team is assembled led by Andrew S. Samuel December 2014 Sunshine is rebranded Sunshine Bank to better reflect a planned transition from a traditional thrift institution to a commercial bank 4Q14 Highly experienced business and financial services leaders added to the Sunshine board of directors June 2015 Sunshine completes acquisition of Lakeland, FL based Community Southern Holdings, Inc. and its wholly-owned subsidiary Community Southern Bank. Sunshine’s total assets approach $500 million July 2015 Sunshine announces agreement to purchase 2 branches in Bradenton and Sarasota, Florida, and will add approximately $56.4 million in deposits and $8.3 million in loans |
 7 Mission Statement Sunshine Bancorp, Inc. will positively impact lives by helping people achieve their dreams.
Vision Statement Sunshine Bancorp, Inc. will be a high performing financial services company that creates
financial success for consumer, business, and not for profit customers in the markets we
choose to serve.
Value Statement Sunshine Bancorp, Inc. is committed to attracting and retaining employees who are
passionate about providing uncompromising service to our customers with a sense of
warmth, integrity, friendliness, and company spirit. We value and
respect each other because we truly believe that our success only comes
from working together for our team’s success.
Making a Positive Impact Mission, Vision and Values |
 8 2015 YTD Highlights Organic Balance Sheet Growth Total loans increased by $26.9 million or 49.4% annualized Deposits increased by $6.5 million or 7.9% annualized Strong Credit Quality Metrics Non-performing assets/assets were 0.19% Allowance for loan losses to non performing loans was 211.1% Completed Community Southern Merger Provided additional scale with $250 million in assets and a strong core deposit base Provided additional scale with $56.4 million in deposits with a 0.09% cost of funds Enter two new counties and expands contiguous presence along the strategically important I-75 corridor Provided a strong compliment to Sunshine’s commercial banking organic growth strategy Announced Purchase of Sarasota and Bradenton Branches |
 9 |
 Sunshine
Management Team 10
Andrew Samuel President and Chief Executive Officer • 31 years of banking experience • 5 different institutions Jane Tompkins EVP, Chief Risk Officer • 40 years of banking experience • 8 different institutions Bruce Carr EVP, Chief Lending Officer • 37 years of banking experience • 3 different institutions Vickie Houllis SVP, Chief Financial Officer • 29 years of banking experience • 4 different institutions Andria Contat EVP, Chief Technology Officer • 31 years of banking experience • 5 different institutions Brent Smith SVP, Corporate Development • 10 years of banking experience • 3 different institutions • Over 175 years of experience • Track record of maximizing shareholder value • Capacity and experience to generate market leading organic growth • Proven ability to leverage excess capital to enhance franchise value |
 Sunshine
Management Team 11
Experienced Management Team:
Over 175 years of experience
20+ Institutions $0-$300billion Management team comes with executive experience in more than 20 different institutions ranging from de novo start ups to super regional banks with over $100 billion in assets Sunshine Bank The team is coming together to create a dynamic high performing community banking franchise |
 12 |
       Attractive
Growing Markets 13
• 1% deposit market share in current markets(1)
• Market currently yields $36.5 billion in deposits(1)
• Recent fragmentation provides great opportunity for customer acquisition Deposit Market Share • Markets currently have 12% of Florida population(2)
• Markets currently have 0.76% of national population(2)
• I-4 corridor attracting growth from Orlando and Tampa • Historically, Brandon/Tampa sections of I-75 yield highest average traffic volumes in the state(3) Attractive Markets • Projected 5 year population growth of 5.76% compared to a national projection of 3.50%(2) • Hillsborough County projected population growth of 6.82% in the next 5 years(2) Market Growth Potential (1)Source: FDIC at 6/30/2014 (Hillsborough, Polk, Manatee, Sarasota and Pasco counties),
(2)Source: SNL Nielson data primarily based on US Census Data,
(3)Source: Hillsborough County Metropolitan Planning Organization 2035 Long Range Transportation Plan: Assessment of Economic Trends and Transportation Needs. |
 Attractive
Growing Markets 14
The local markets continue to boast growth rates that are among the top in the
nation. Sunshine’s franchise is in markets that have economic
drivers contributing to the continued growth and economic
expansion. Strong Transportation & Geographic Infrastructure Interstate 4 is the link between Tampa and Orlando with undeveloped potential not readily available in
the more urban settings
Interstate 75 yields some of the largest traffic volumes in the state(1)
Port of Tampa is the largest deep water port in the state and is one of the top 10
cruise ports in the country(1) Tampa International Airport serves over
40,000 travelers and 280 tons of cargo daily(1) Diverse
Economic
Drivers MacDill Air Force Base is the headquarters for two major commands: Special U.S. Operations Command and
U.S. Central Command.
Port of Tampa is a hub for both industry and tourism. The port draws
manufacturing, transportation and warehouse sectors.
Recreational and Tourism opportunities.
Higher Education with the University of South Florida, University of Tampa and Florida
Polytechnic University Leading
Population Growth Local markets are projected to add 1.6 million people or 29% growth by 2035. This creates a population
equal to present-day Greater Miami(2)
1 in 5 Floridians is expected to live in the greater Tampa region in the next 30
years.(3) Hillsborough, Polk and Pasco counties rank as the highest net
population growth counties in the Tampa Region over the next 30
years(1) (1)Source:
Hillsborough County Metropolitan Planning Organization 2035 Long Range Transportation Plan: Assessment of Economic Trends and Transportation Needs. (2)Source: Florida Bureau of Economic and Business Research (BEBR) (3)Source: SNL Nielson data primarily based on US Census Data |
 Target
Markets 15
Hillsborough Pasco Polk Orange Pro Forma Markets Manatee Pinellas Sarasota Target Markets Pro forma markets yield $53.6 billion in deposits(1)
(1)Source: FDIC at 6/30/2014 for the pro forma markets following the completion of
First Federal Branch purchase. |
 16 |
 17 Building Franchise Value Value Creators Value Inhibitors • Excellent reputation in the community • Strong management team • Exceptional asset quality metrics • Ability to grow and retain core deposits • Cross selling effectiveness • Fee income generation • Well capitalized • Lower than peer net interest margin • Loan portfolio concentrations • Residential mortgage loans • Land and development loans • Efficiency ratio over 70% |
 Organic
Plan Summary 18
Loan Growth • Small Businesses with less than $50 million in annual revenue • Commercial real estate and C&I loans • Home equity and consumer loans Deposit Growth • Small business core operating and reserve accounts • Not for profits segment penetration • Retail consumer account growth Fee Income • Service charges on deposits • Commercial account analysis fees • Merchant services • Fee income from Sunshine Wealth Management • Increase secondary market mortgage origination and sales |
       19 • Strategic locations complimented with mobile banking • Strong local community identity Retail Banking • Family owned businesses with less than $50 million in revenue • Local decision making with highly responsive local people Small Business Banking • Be the bank of choice for not for profit market Not for Profit Banking High touch relationship management and exceptional service supported by technology Targeted Business Segments |
 20 Organic Growth Strategic Acquisition Strategic Partnerships Branch Acquisitions Building Franchise Value |
 Disciplined Acquisition Strategy
21 Contiguous/ in-market opportunities Less than 10% TBV Dilution EPS accretion in the 1 year Demographics equal to or better than current footprint Management and the board will consider deviating from these guidelines if the strategic opportunity
warrants it. However, anything outside these parameters will be pursued with
great diligence and must have strong strategic reasoning for doing
so. st |
 Pro Forma
Sunshine Bank Profile 22
Total Assets $529,989 Net Loans $315,001 Total Deposits $408,582 Note: Date for data is: 6/30/2015 Financial Highlights ($000) Corporate Overview NASDAQ SBCP Headquarters Plant City, FL Established November 1954 Mutual Conversion July 2014 Anticipated Branch Purchase Closing 4Q 2015 Banking Facilities 12 Building a Strong Foundation For the Future |
 Pro Forma
Market Share 23
Creating a dynamic high performing community bank in the greater Tampa region
Banks Operating in Combined Market
County Deposits ($000)
Hillsborough
Manatee
Pasco
Polk
Sarasota
Combined
Rank
Community Banks
1
TAMPA BAY BANKING COMPANY (FL)
$ 1,160,751
$
- $
-
$
- $
- $ 1,160,751
2
CENTERSTATE BANKS, INC. (FL)
133,106
-
58,683
709,338
-
901,127
3
USAMERIBANCORP, INC. (FL)
748,894
-
-
-
-
748,894
4
SUNSHINE BANCORP
Pro Forma
154,862
20,402
11,045
191,482
33,316
411,107
5
CITIZENS BANKING CORPORATION (FL)
-
-
-
386,346
-
386,346
6
FLORIDA BUSINESS BANCGROUP, INC. (FL)
377,474
-
-
-
-
377,474
7
PLATINUM BANK HOLDING COMPANY (FL)
207,307
-
-
161,098
-
368,405
8
C1 FINANCIAL, INC. (FL)
147,030
181,837
17,127
-
1,967
347,961
9
Stonegate Bank (FL)
71,062
-
-
-
236,531
307,593
10
Bank of Central Florida (FL)
-
-
-
304,459
-
304,459
Remaining Community Bks (31)
1,485,214
391,053
366,279
118,381
1,127,810
3,488,737
Total Community Banks
4,485,700
593,292
453,134
1,871,104
1,399,624
8,802,854
Total Large Regional & Other Out of Market Bks
(32) 21,113,827
4,689,987
4,669,683
3,905,236
10,370,850
44,749,583
Total Deposits
$ 25,599,527
$ 5,283,279
$ 5,122,817
$ 5,776,340
$ 11,770,474
$ 53,552,437
Pro Forma Market Share
0.60%
0.39%
0.22%
3.31%
0.28%
0.77%
Source: FDIC @ 06/30/2014 (latest
available) |
 24 Why Sunshine? Deep and experienced management team Proven track record of maximizing shareholder value Compelling growth markets Strong geographic and transportation infrastructure, diverse economic driver and leading population growth Valuation Trading at 112% of tangible book value* *As of Aug, 31 st 2015 |