EX-99.1 2 v066906_ex99-1.htm

 

Safe-Harbor Statement

            This presentation and remarks accompanying it may include forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements involve risks and assumptions that
could cause actual results to differ materially from those in the forward-
looking statements. Any forward-looking statements made in the course of
this presentation speak only as of the date on which they are made, and
United Western Bancorp, Inc. has no duty to, and does not intend to,
update or revise the forward-looking statements after the date on which they
are made.

 

Stock Summary

Nasdaq                                UWBK

Price:$21.73

52-week range:  $18.75 - $24.00

Shares outstanding:                      7.26 million                        

Market capitalization:            $165 million

Price/tangible book value*:                          1.5 X

*Data as of February 16, 2007

 

History of United Western Bancorp

1989 -  Founded by Guy Gibson  as United Financial, Inc., a mortgage servicing brokerage

1993 - Acquired a New Mexico-based S&L, renamed Matrix Capital Bank

1996 - Matrix Bancorp, Inc. conducted an IPO as a Denver-based wholesale bank

2002 - Guy Gibson steps down as Chairman to form another business venture; maintains his shares in the Company

New Vision…New Mission…New Leadership…
New Team…New Focus

 

Mission

We are committed to becoming the
state’s preeminent relationship-based
community bank with regional
banking facilities designed to serve
small and medium-sized businesses
throughout Colorado’s Front Range.

 

Colorado’s Front Range

80% of Colorado’s population

Population expected to grow at 5% CAGR through 2020

$3 billion annual residential and commercial real estate construction

Highly educated work force

Colorado ranked 8th in per capita personal income (2005)

Colorado growth metrics*

Job growth: 2.0% or 44,500 new jobs over the 12 months ending September 30, 2006.

Personal income: 5.2% growth over the 12 months ending September 30, 2006.

National rankings:  8th highest population growth 2000-2005; 5th highest in attracting and
creating new companies (2006); 6 th best business tax climate (2006); and 19 th highest
employment growth rate.

* Source: FDIC State Profiles – Colorado 3rd Quarter 2006 and Metro Denver Development Council.

 

Colorado Banking Consolidation

First

Colorado

Bancorp

Guaranty

Corp

Vectra

Banking

Corp

Vail

Banks

MegaBank

Financial

Corp

*pending acquisition by Banco Bilbao Vizcaya Argentaria SA (NYSE:BBV)

Compass

Bank*

 

Transition to Community Banking

We are executing the transition!

Goal

Status

Hire banking teams/open new
banking locations

Divest non-core businesses

Execute shareholder value
strategies

Wholesale (consumer mortgage)
loans

Institutional deposits

Initial teams hired/new banking
locations opened, announced or
under construction

Accomplished

Accomplished

Community bank loans

Business banking deposits

 

Hire First-Rate Teams

New community bankers and personnel

New credit and underwriting team

New treasury management team

New consumer banking team

Expanded SBA Division

Added experienced, senior head of construction banking

New technology, operations and compliance teams

*Pending as of February 22, 2007

 

Regional Bank Expansion

Opened January 2007

Opened October 2006

Site Acquired – 2007 Opening

Site Acquired – 2007 Opening

Open

 

Balance Sheet – Loan Portfolio in Transition

Community Banking Loans Grow 74% to $400MM

 

Unique Deposit Composition

Total Deposits Grow 19.7% to $1.346B

 

Financial Review

 

Financial Review

Balance Sheet and Operations

Conversion to community bank

Manage new community bank loan portfolio risk

Manage reduction in wholesale activities

Divest all non-strategic businesses

Build deposits and reduce wholesale borrowings

Capital management

Shareholder value strategies

Implementation in 2006

Actions

Results

 

Balance Sheet Changes

 

Balance Sheet Changes (continued)

 

Income Statement

 

Operating Ratios

 

Trading Multiples

Source: SNL Securities LLC. UWBK information calculated internally

 

Capital Strategy

Announced retirement of $5MM of Trust Preferred Stock.

Announced plan to retire other trust preferred issues in 2007
and 2008

Initiated quarterly dividend of $.06 per share to
shareholders of record on March 5, 2007.

Authorized repurchase of up to 5% of outstanding shares of
Common Stock – 300,000 shares repurchased to date.

 

Exceeding 2006 Objectives

Rebranded holding company and bank.

New loan production of $210MM, 30% over target goal

New deposit production of $240MM, 60% over target goal

Opened new regional bank locations (2)

Divested all non-core, higher risk subsidiaries

Executed book-value building transactions – sold HQ tower, deployed
tax credits, monetized minority stake in previously divested subsidiary

Expanded overall net interest margin 30bps, year/year

Reduced nonperforming loans by 50%

Trust custody accounts at Sterling Trust grow to exceed 50,000,
deposits to United Western Bank over $370MM

 

Investment Rationale

Highly experienced management  with proven track record

Well-established infrastructure

Strong employee base

Attractive demographics

Vibrant marketplace

Solid relationship with regulators

Compelling business model

Executing our plan as stated