Bank Directors Seminar, Coeur d'Alene, ID

Capital Market Activity – Last 6 Years & YTD

Capital Offerings by Type – Last 6 Years & YTD

2012 – Capital Offerings

2018 YTD – Capital Offerings

$25

300

262

Common Equity 45%

Common Equity 28%

249

Sub-Debt 19%

230

250

$20

Sub-Debt 22%

Number of Offerings

200

170

200

169

$15

150

Common Equity (IPO) 5%

$10

100

73

$5

Preferred 21%

MHC IPO 4%

50

Common Equity (IPO) 6%

Gross Capital ($Billions)

Preferred 44%

MHC IPO 6%

$-

0

2012 2013 2014 2015 2016 2017 2018 YTD

Common Equity

Common Equity (IPO)

MHC IPO

Preferred

Sub-Debt

# of Offerings

Capital Offering Detail – Last 6 Years & YTD

2012

2013

2014

2015

2016

2017

2018 YTD

Total Since 2012

# of Deals $ Amt.

# of Deals $ Amt.

# of Deals $ Amt.

# of Deals $ Amt.

# of Deals $ Amt.

# of Deals $ Amt.

# of Deals $ Amt.

%of Total

# of Deals

$ Amt.

Common Equity

$ $ $ $ $

3,324

168

$ $ $ $ $

3,570

118

$ $ $ $ $

6,616 4,853 3,494 2,334 3,265

153 13,306 $ 113

$ $ $ $ $

4,368

78

$ $ $ $ $

5,731 1,198

101

$ $ $ $ $ $

3,921

41

40,837 $

40% 772 8% 51 7% 67 19% 205 26% 258

IPO

664 498

4

338 676

4 9

12 15 34 35

$ $ $ $

339

7

823 333

4 9

11

555 508

9 2 7

$ $

8,770 7,369

MHC

13 59 18

1,467 1,189 6,095

10 21 79

393

9

Preferred Stock

5,245 2,299

4,033 5,729

45 24

3,630 5,085

20 58

1,420 2,235

19 30

1,830 1,905 8,721

19,680 $ 26,612 $

Sub-Debt

14

Grand Total

12,029 $ 262 14,345 $ 200 20,562 $ 249 22,395 $ 230 14,239 $ 169 10,976 $ 170

73 103,268 $ 100% 1,353

Source: S&P Global Market Intelligence,as of 8/31/2018 Note: Excludes offerings for companies with assets greater than $200 billion Note: Excludes TARP auction and secondary preferred stock sales Note: All dollars in millions, unless otherwise noted

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S E C T I O N

4

National Bank M&A Market Update

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