DAY ONE
Registration opens at 8 a.m. Program begins at 8:30 a.m.
Overview of Bank Valuation
- Purpose and objectives of company valuation
- Bank operating models and implications for valuation
- Determining the key drivers of value estimates
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Valuing Banks
- Understanding how banks make money
- Financial statement review: Key line items and management disclosures
- Evaluating the quality of the balance sheet and earnings
- Identifying key ratios
- Asset/liability structures and interest rate risk
- Understanding reserves and regulatory capital requirements
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Comparable Company and Transaction Analysis
- Getting behind the numbers: Choosing appropriate peer groups
- Evaluating market conditions
- Understanding and calculating trading multiples
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| Comparable Peers Analysis: A Case Study |
Comparable Transaction Analysis: A Case Study |
FDIC-Assisted Transactions
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Discounted Cash Flow Modeling and Analysis
- Estimating cost of capital and terminal values
- Recognizing key operating levers and key bets
- Estimating free cash flows to equity holders
- Sensitivity analysis
- Valuing fee-based earnings streams
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Day One concludes at approximately 5:30 p.m.
DAY TWO
Session begins at 8 a.m.
| Discounted Cash Flow Modeling: A Hands-On Case Study |
Advanced Earning Analysis and Forecasting
Guest Instructor: Brad Ness
- Analysis of core earnings
- Techniques for normalizing earnings among companies, including how to assess and treat non-recurring earnings events
- Non-recurring gains/losses
- Aggressive/conservative accruals
- Adjusting for normalized capital structures
- Minority stake/investor's view versus control stake/whole company valuation
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M&A Valuation
- Incorporating discounted cash flows modeling
- Determining a valuation range and triangulating valuation results
- Valuing synergies
- How control premiums impact multiples
- M&A transaction considerations
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| Bank M&A Transaction Valuation: A Case Study |
Day Two concludes at approximately 5:15 p.m.
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