EX-99.1 3 dex991.txt PRESENTATION OF APRIL 30, 2002 The Colonial BancGroup, Inc. Gulf South Banking Conference April 29-30, 2002 1 Forward-Looking Statements THE COLONIAL BANCGROUP, INC. This presentation contains "forward-looking statements" within the meaning of the federal securities laws. The forward-looking statements in the presentation are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among other things, the following possibilities: (i) an inability of BancGroup to realize elements of its strategic plans for 2002 and beyond; (ii) increases in competitive pressure in the banking industry; (iii) general economic conditions, either nationally or regionally, that are less favorable than expected; and (iv) changes which may occur in the regulatory environment. When used in this presentation, the words "believes," "estimates," "plans," "expects," "should," "may," "might," "outlook," and "anticipates," and similar expressions as they relate to BancGroup (including its subsidiaries) or its management are intended to identify forward-looking statements. Forward-looking statements speak only as to the date they are made. BancGroup does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. 2 Financial Strength in Local Hands THE COLONIAL BANCGROUP, INC. .. One bank holding company - approximately $13.2 billion in assets in six states - concentrations in Florida ($4.8 bil.) and Alabama ($4.4 bil.) .. Built on a community banking philosophy - allows local autonomy in lending decisions and customer relationships .. Long-standing real estate expertise evident in loan mix: - Residential real estate = 19% of portfolio - Commercial loans secured by real estate = 34% of the portfolio - Construction loans secured by real estate = 24% of the portfolio .. Experienced management teams - 8% insider ownership aligns the interests of shareholders, bondholders and management .. Focused on enhancing fee income and customer relationships 3 [LOGO] COLONIAL BANK(SM) [GRAPH] REGIONAL BANKS [LOGO] NORTH ALABAMA REGION [LOGO] CENTRAL ALABAMA REGION [LOGO] MONTGOMERY REGION [LOGO] GULF COAST REGION [LOGO] GEORGIA REGION [LOGO] CENTRAL FLORIDA REGION [LOGO] SOUTHWEST FLORIDA REGION [LOGO] SOUTH FLORIDA REGION [LOGO] BAY AREA REGION [LOGO] NEVADA REGION [LOGO] TEXAS REGION [LOGO] LOAN PRODUCTION OFFICE 4 Assets by Region THE COLONIAL BANCGROUP, INC Assets Projected Branch Bank Regions (in millions) Branches Additions 02-05 -------------------------------------------------------------------------------- Central Alabama (Birmingham) $1,275 44 0 Northern (Huntsville) 1,043 32 0 Gulf Coast (Mobile) 416 12 0 Montgomery (includes Destin, FL) 1,098 40 5 Georgia (Atlanta, Macon, Columbus) 1,105 23 5 Central FL (Greater Orlando) 1,270 43 8 South FL (Miami, West Palm Beach) 1,514 20 4 Bay Area (Tampa, St. Pete) 710 20 5 Southwest FL (Naples, Ft. Myers) 415 13 8 Texas (Dallas, Austin) 628 8 6 Nevada (Las Vegas, Reno) 401 11 6 -------------------------------------------------------------------------------- Total number of Branches 266 47 Excludes corporate and mortgage warehouse lending assets. Assets and branches are as of March 31, 2002. 5 Financial Results - 1st Quarter 2002
THE COLONIAL BANCGROUP, INC. 1st Quarter ($ in millions, except per share amounts) 2002 2001 % Change ----------- ----------- ----------- Net Interest Income $ 110.4 $ 103.2 7% Noninterest Income 22.9 20.8 10% Noninterest Expense 70.5 68.4 3% Net Income 34.2* 29.2 17% Cash Basis Earnings Per Share (Diluted) $ 0.29 $ 0.27 7% Cash Return on Average Tangible Assets 1.11% 1.03% Cash Return on Average Tangible Equity 18.33% 17.85% Efficiency Ratio 52.78% 55.64% Net Interest Margin 3.72% 3.62%
*RECORD NET INCOME OF $34.2 MILLION 6 Florida Franchise Highlights THE COLONIAL BANCGROUP, INC. ..$4.8 billion in assets ..5 Market Areas: .Central Florida (Greater Orlando) .South Florida (Miami, Palm Beach) .Bay Area (Tampa, St. Pete) .Southwest Florida (Naples, Ft. Myers) .Panhandle (Destin, Grayton Beach) - part of the Montgomery region ..97 full service branches in the state of Florida and 2 loan production offices ..Currently have the 6th largest presence with bank offices 7 Florida Franchise - Core Deposit Growth THE COLONIAL BANCGROUP, INC. Average Average % Average % 1Q02 4Q01 Growth** 1Q01 Growth ($ in millions) -------------------------------------------------------------------------------- Total Core Deposits (1) $3,992 $3,873 12% $3,496 14%* Florida only $1,891 $1,771 27% $1,525 24%* % of Total (Florida) 47% 46% 44% (1) Core deposits excludes brokered, time and custodial deposits. * Growth rate includes the effect of deposits acquired from Union Planters of $109 million in total and $68 million in Florida. ** Annualized 8 Florida Franchise - Noninterest Income Trend THE COLONIAL BANCGROUP, INC.
Projected 1st Quarter 2002 % Growth ($ (in thousands) 1998 1999 2000 2001 (annualized) 2001 to 2002 --------------------------------------------------------------------------------------------------------- Wealth Management $ 359 $ 1,242 $ 1,460 $ 2,511 $ 3,682 47% Electronic Banking 1,103 1,627 1,819 2,379 2,921 23% Cash Management 348 635 918 1,334 1,632 22% Mortgage Banking 2 13 2,366 2,008 2,525 26% Service Charges & Fees 11,025 11,303 10,628 11,993 12,824 7% Other 2,574 3,503 4,220 5,293 4,964 -6% --------------------------------------------------------------------------------------------------------- Total Noninterest Income $15,411 $18,323 $21,411 $25,518 $28,548 12%
Note: As originally reported prior to restatements for mergers accounted for as pooling of interest. 9 Florida Franchise - Loan Growth Trend THE COLONIAL BANCGROUP, INC.
December 31, March 31, (in thousands) 1998 1999 2000 2001 2002 CAGR ------------------------------------------------------------------------------------------------------------- Central Florida $ 813,503 $ 922,191 $1,104,789 $1,135,151 $1,139,887 11% South Florida 696,241 970,700 1,248,126 1,252,072 1,322,678 22% Bay Area 194,496 264,628 295,096 561,953 583,305 40%* Southwest Florida 155,018 171,651 293,746 297,580 313,616 24% ------------------------------------------------------------------------------------------------------------- Total Florida $1,859,258 $2,329,170 $2,941,757 $3,246,756 $3,359,486 20%
* Growth % includes $272 million loans acquired from Manufacturers Bank in October 2001. Note: As originally reported prior to restatements for mergers accounted for as pooling of interest. 10 Nonperforming Assets / Loans and OREO THE COLONIAL BANCGROUP, INC. [GRAPH]
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 1.49% 1.07% 1.34% 1.31% 0.90% 0.78% 0.84% 0.71% 0.60% 0.55% 0.54% 0.64% 0.66%
Note: As originally reported prior to restatements for mergers accounted for as poolings of interests. 11 Net Charge-Offs/Average Loans THE COLONIAL BANCGROUP, INC. [GRAPH]
Southern regionals All FDIC insured provided by Keefe, commerical banks Bruyette & Woods (as Colonial BancGroup (as of 4th Quarter 2001) of March 31, 2002) 1992 0.47% 1.27% 0.78% 1993 0.33% 0.85% 0.33% 1994 0.09% 0.50% 0.17% 1995 0.13% 0.49% 0.22% 1996 0.18% 0.58% 0.29% 1997 0.23% 0.63% 0.30% 1998 0.26% 0.66% 0.30% 1999 0.21% 0.58% 0.29% 2000 0.21% 0.58% 0.32% 2001 0.28% 0.94% 0.38% 2002 0.25% 1.31% 0.42%
Note: As originally reported prior to restatements for mergers accounted for as poolings of interests. 12 Net Charge-off Ratio Comparison THE COLONIAL BANCGROUP, INC. [GRAPH] Colonial Regions SouthTrust BB&T Compass SunTrust Amsouth 0.25% 0.26% 0.33% 0.48% 0.61% 0.69% 0.83% ------------------------------------------------ [] 1st Quarter 2002 Annualized net charge-offs ------------------------------------------------ 13 Allowance For Possible Loan Losses THE COLONIAL BANCGROUP, INC.
3/31/02 Percent 12/31/01 Percent 3/31/01 Percent (in millions) Loans Reserve Loans Reserve Loans Reserve ------------------------------------------------------------------------------------------------------- By Category: Single Family Real Estate: Short term lines of credit secured by real estate loans held for sale $ 874 0.25% $ 1,287 0.25% $ 644 0.25% 1-4 family real estate portfolio-held to maturity $ 1,943 0.50% $ 1,956 0.50% $ 2,623 0.50% Other $ 7,419 1.58% $ 7,125 1.53% $ 6,848 1.49% ------------------------------------------------------------------------------------------------------- Total Loans $10,236 1.26% $10,368 1.18% $10,115 1.15%
14 Loan Growth - December 1998 - March 2002 THE COLONIAL BANCGROUP, INC. [GRAPH]
Regional bank loan Total Loan Growth 1998 16% 17% 1999 20% 17% 2000 17% 16% 2001 5% 10% 2002 5%* --
*Annualized Note: As originally reported prior to restatements for mergers accounted for as pooling of interest. 15 Noninterest Income THE COLONIAL BANCGROUP, INC.
% Growth % Growth (in thousands) 2000 2001 00 to 01 1Q01 1Q02 1Q01-1Q02 ------------------------------------------------------------------------------------------------------------------------------- Wealth Management $ 8,163 $ 8,670 6% $2,242 $2,660 19% Electronic Banking 5,512 6,918 26% 1,555 1,873 20% Cash Management 2,117 2,810 33% 637 821 29% Mortgage Origination 5,892 8,287 41% 1,456 2,155 48% Bank Service Charges & Fees 33,680 39,222 16% 8,860 9,782 10% Other Income 19,397 19,101 -2% 4,902 5,637 15% ------------------------------------------------------------------------------------------------------------------------------- Total $74,761 $85,008 14% $19,652 $22,928 17%
Total non-interest income excludes security gains. Note: As originally reported prior to restatements for mergers accounted for as pooling of interest. 16 Summary THE COLONIAL BANCGROUP, INC. . Great franchise in high growth markets . Loan growth with excellent asset quality . More products to more customers . Expand in market areas through acquisitions and new branches 17 CONSTRUCTION & COMMERCIAL REAL ESTATE GEOGRAPHIC DIVERSITY AND INDUSTRY DISTRIBUTION MARCH 31, 2002
(Dollars in thousands) Construction Commercial Real Estate -------------------- ------------------------------- Average Loan Size $ 508 $ 515 Geographic Diversity Alabama $ 378,965 $ 897,386 Georgia 429,710 457,691 Florida 1,212,296 1,552,163 Texas 276,480 142,668 Nevada 151,018 159,087 Other 70,978 280,366 -------------------- ------------------------- Total $ 2,519,447 $ 3,489,361 ------------------------------------------------------------------------------------------------------------------------------------
Industry Distribution % of Industry Distribution to % of Industry Distribution to ----------------------------- ----------------------------- Construction Total Commercial Real Total Portfolio Portfolio Estate Portfolio Portfolio ----------------- ---------------- ---------------------- ------------ Development 22% 5% Retail 18% 6% 1-4 Family Residential 21% 5% Office 16% 6% Land Only 18% 4% Multi-Family 11% 4% Condominium 12% 3% Lodging 11% 4% Multi-Family 9% 2% Office/Warehouse 6% 2% Retail 5% 1% Nursing Home 5% 2% Other (13 types) 13% 4% Other (11 types) 33% 10% ---------------- ------------------ ------------- ----------- Total Commercial Real Total Construction 100% 24% Estate 100% 34% --------------- ------------------ ------------- ----------- ------------------------------------------------------------------------------------------------------------------------------------
Substantially all Construction and Commercial Real Estate loans have personal guarantees of the principals involved. Owner occupied Commercial Real Estate portfolio totals represented 22% of the total Commercial Real Estate portfolio at March 31, 2002.