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Exhibit 99.4
[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
UNB CORP. (UNBO)
AND
BANCFIRST OHIO CORP. (BFOH)
ARE COMBINING IN A MERGER-OF-EQUALS
SEPTEMBER 6, 2001
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CONFERENCE CALL AND WEBCAST INFORMATION
---------------------------------------
UNB Corp. and BancFirst Ohio Corp. will host a conference call at 10:30 a.m. ET
on Thursday, September 6, 2001. The number to call is (877) 388-1596. If this
time is inconvenient, a taped rebroadcast will begin at 2:00 p.m. ET, Thursday,
September 6, 2001, and conclude at 5:00 p.m. ET on Friday, September 14, 2001.
To access the replay, dial (800) 642-1687 and enter the conference ID# 1714100.
A copy of this presentation, along with a web cast of this call, can be found at
www.unbcorp.com or www.bancfirstohio.com.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
FORWARD LOOKING STATEMENTS
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When used in this document or other public shareholder communications, in
filings with the Securities and Exchange Commission, or in oral statements made
with the approval of an authorized executive officer, the words or phrases
"believe, "will likely result," "are expected to," "will continue," "is
anticipated," "estimate," "project," "plans," or similar expressions are
intended to identify "forward-looking statements" within the meaning of the
Private Securities Litigation reform Act of 1995. You are cautioned not to place
undue reliance on any forward-looking statements, which speak only as of the
date made. Various factors could cause actual results to differ materially from
the results anticipated or projected. These factors include, but are not limited
to, the following: (1) expected cost savings and synergies from the merger might
not be realized within the expected time frame; (2) revenues following the
merger could be lower than expected; (3) costs or difficulties related to the
integration of the businesses of UNB and BancFirst Ohio might be greater than
expected; (4) the requisite shareholder and/or regulatory approvals of the
transaction might not be obtained; (5) deposit attrition, operating costs,
customer loss and business disruption following the merger may be greater than
expected; (6) competitive pressures among depository institutions; (7) the
credit risks of lending activities; (8) changes in the interest rate environment
and in the demand for loans; (9) general economic conditions, either nationally
or in the states in which the combined company will be doing business, might be
less favorable than expected; (10) new legislation or regulatory changes; and
(11) changes in accounting principles, policies or guidelines.
We do not undertake any obligation to update any forward-looking statement to
reflect circumstances or events that occur after the date the forward-looking
statement is made.
Additional Information
A registration statement on Form S-4 will be filed with the Securities and
Exchange Commission in connection with the proposed transaction. The
registration statement will include a joint proxy statement/prospectus which
will be sent to the shareholders of both UNB Corp. and BancFirst Ohio Corp.
seeking their approval of the proposed transaction. Investors and security
holders are advised to read the registration statement and joint proxy
statement/prospectus because they will contain important information. When
filed, these documents can be obtained free of charge from the web site
maintained by the SEC at "www.sec.gov". These documents also can be obtained
free of charge upon written request to UNB Corp., Investor Relations, P.O. Box
24190, Canton, Ohio 44702 or by calling (330) 438-1118.
UNB Corp. and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from UNB Corp. shareholders to
approve the merger. Information about these participants may be obtained through
the SEC's web site from the definitive proxy statements to be filed with the SEC
by UNB Corp. Additional information regarding the interests of these
participants, as well as information regarding the directors and executive
officers of BancFirst Ohio Corp., may be obtained by reading the joint proxy
statement/ prospectus regarding the proposed transaction when it becomes
available.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
FINANCIAL SUMMARY
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[ ] Transaction Structure: 100% Stock Swap - Merger-of-Equals
[ ] Name of New Company: To be determined in 4Q 2001
[ ] Fixed Exchange Ratio: 1.325 UNBO shares per BFOH share
[ ] Pro Forma Ownership: UNBO-47.9% / BFOH-52.1%
[ ] Value per BFOH share: $24.51(1)
[ ] Premium to BFOH Market Price: 17.0%(1)
[ ] Pro Forma Market Cap: $415 million - $2.7 billion in assets
[ ] Dividend: Current UNBO rate of $0.125 per quarter
[ ] Accounting - Tax Treatment: Purchase accounting - Tax-free exchange
[ ] Stock Purchase Option: Cross options granted to each company
for 14.9% of the other partner
(1) Based on UNBO share price of $18.50 and BFOH share price of $20.95, as of
close September 5, 2001.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
CORPORATE SUMMARY
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[ ] Management: Corporation Bank
----------- ----
[ ] Mr. Gary N. Fields (BFOH President & CEO) Chairman
[ ] Mr. Roger L. Mann (UNBO Chairman & CEO) President & CEO Chairman
[ ] Mr. James H. Nicholson (FNB Zanesville Pres. & CEO) EVP & COO President & CEO
[ ] Mr. James J. Pennetti (UNBO EVP & CFO) EVP & CFO EVP & CFO
[ ] Board of Directors: Equal representation - Corporation - seven from each
Bank - six from each
[ ] Headquarters: Canton, Ohio
[ ] Operations Center: Zanesville, Ohio
[ ] Due Diligence: Completed
[ ] Expected Closing: 1st Quarter 2002
[ ] Required Approvals: UNB Corp. and BancFirst Ohio shareholders
and customary regulatory approvals
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
TRANSACTION GOALS
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[ ] Enhance Shareholder Value
[ ] Accretive to Fundamentals (Earnings per Share)
[ ] Improved Liquidity for Shareholders
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
TRANSACTION RATIONALE
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[ ] Accretive to both companies' GAAP and Cash EPS
[ ] Expands market area and builds critical mass with strong local
commitment
[ ] Enhances competitive position with broader product range
[ ] Increases liquidity and market presence
[ ] Enhances ability to grow Wealth Management business
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
OVERVIEW OF UNB CORP.
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[ ] Assets of $1.1 billion, deposits of $807 million and equity of $81
million
[ ] #6 position in tri-county market - 6% market share
[ ] Outstanding ROE - 20.3% [MAP]
[ ] 5 year EPS growth - 16.5%
[ ] Middle-market commercial banking tradition
[ ] Other lines of business:
[ ] National aircraft lending group with $143 million in loans;
[ ] Wealth management - over $1 billion under management; and
[ ] Strong residential real estate lender.
[ ] Market capitalization - $199 million
[ ] Financial centers - 21
[ ] Outstanding asset quality history
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
OVERVIEW OF BANCFIRST OHIO CORP.
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[ ] Assets of $1.5 billion, deposits of $1.1 billion and equity of $112
million
[ ] Three attractive banking markets along I-70 corridor
[ ] Zanesville;
[ ] Columbus; [MAP]
[ ] Newark; and
[ ] Dayton, Ohio.
[ ] Community bank model with commercial and private banking focus
[ ] #1 SBA 7(a) lender in state of Ohio
[ ] Excellent net charge-off history
[ ] Growing financial services niche
[ ] Market capitalization - $184 million
[ ] Financial centers - 27
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
RESULTING COMPANY
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[ ] Creates $2.7 billion Ohio financial services holding company with
growth profile
[ ] Commercial banking foundation
[ ] Core deposit funded
[ ] Five market presence - Canton, Columbus, Newark, Dayton
and Zanesville
[ ] Attractive niche lending - aircraft and SBA
[ ] Growing fee income business with greater scale in
wealth management
[ ] Cross selling opportunities / Revenue enhancement opportunities
[ ] Strong capital base
[ ] Pro Forma $415 Million Market Capitalization
[ ] Enhances strategic position in the merger market arena
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
RESULTING GEOGRAPHIC FRANCHISE
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[ ] Major presence in four central Ohio markets
[ ] 48 financial centers serving 9 counties in Ohio
[ ] Canton - strong market position with over
1 million population
[ ] Columbus - large market with tremendous
growth opportunities
[ ] Newark - growing part of Columbus MSA [MAP]
[ ] Dayton - growing commercial franchise
[ ] Zanesville - dominant #1 position
[ ] National niche businesses (aircraft - SBA)
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
DYNAMIC AND VIBRANT MARKETS(1)
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Muskingum
Canton(2) Columbus(3) Dayton County
Market MSA MSA (Zanesville)
--------- -------------- -------- ---------------
Company Deposits (millions) $812 $328 $213 $506
Population 1,023,893 1,499,874 957,805 84,962
Median Household Income $40,779 $46,219 $44,368 $33,224
Growth - `00-'05 12.00% 16.52% 14.54% 11.06%
Deposit Market Share 6.22% 1.61% 2.15% 46.97%
Deposit Market Rank 6 10 10 1
(1)Source: SNL DataSource at June 30, 2000.
(2)Canton market encompasses Stark, Summit and Wayne counties.
(3)Columbus MSA definition includes Newark.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
TRANSACTION SYNERGIES
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[ ] The following amounts represent expected annual cost savings on a
full run rate basis for 2002.
[ ] Cost savings are expected to be 70% realized in 2002 - 100% in 2003.
[ ] $4.3 million represents approximately 6.6% of the combined companies'
2002 noninterest expense base.
Operations $2.4 million
Administration and Support 0.8
Trust / Wealth Management 0.3
Corporate Efficiencies 0.8
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Total $4.3 million
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
FINANCIALLY COMPELLING
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[ ] 2002 Earnings Per Share Impact
UNBO Stand Alone Income(1) $16.9 mm
BFOH Stand Alone Income(1) 18.6
After-Tax Cost Savings 2.0
Purchase Accounting Amortization(2) -1.7
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Pro Forma 2002 Income $35.8 mm
Pro Forma Stand Alone(1) % Change
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UNBO GAAP EPS $1.61 $1.60 0.4%
Cash EPS 1.68 1.61 4.6
BFOH GAAP EPS $2.13 $2.10 1.2%
Cash EPS 2.23 2.12 5.1
(1) Based on IBES estimates and including the impact of the elimination of
goodwill amortization in 2002.
(2) Includes core deposit amortization and the cost to fund the one-time
merger-related charge.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
FINANCIALLY COMPELLING
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[ ] 2003 Earnings Per Share Impact
UNBO Stand Alone Income(1) $18.6 mm
BFOH Stand Alone Income(1) 20.4
After-Tax Cost Savings 3.0
Purchase Accounting Amortization(2) -1.7
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Pro Forma 2002 Income $40.3 mm
Pro Forma Stand Alone(1) % Change
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UNBO GAAP EPS $1.81 $1.76 2.9%
Cash EPS 1.89 1.77 6.7
BFOH GAAP EPS $2.40 $2.31 3.7%
Cash EPS 2.50 2.33 7.2
(1) Assumes 10% growth of 2002 estimates.
(2) Includes core deposit amortization and the cost to fund the one-time
merger-related charge.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
SUMMARY OF ONE-TIME EXPENSES
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Charges (In Millions)
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Professional Fees $2.6
Data Processing 1.8
Conversion / Renaming 1.6
Severance and Retention 1.3
Printing, Filing and Other 1.0
- -------------------------- --------
Total (Pre-Tax) $8.3
Total One-Time Charge (Net of Taxes) $6.4
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
CORPORATE GOALS
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[ ] EPS Growth - 10%-13%
[ ] GAAP Return on Equity
[ ] Cash Return on Tangible Equity - Over 15%
[ ] Fee Income Growth
[ ] Revenue Growth
[ ] Improved Efficiency Ratio
[ ] Maintenance of Credit Quality
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
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PRO FORMA FINANCIAL REVIEW
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
PRO FORMA BALANCE SHEET
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($ in 000's, except per share data)
UNBO BFOH
6/30/01 6/30/01 Adjustments Pro Forma
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Cash & Equivalents $ 34,325 $ 33,808 $ 68,133
Securities 123,540 324,613 448,153
Net Loans & Leases 884,900 1,085,848 1,970,748
Goodwill and other intangibles 2,309 20,890 132,784 155,983
Other Assets 33,621 55,801 89,422
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TOTAL ASSETS $1,078,695 $1,520,960 132,784 $2,732,439
========== ========== =========== ==========
Noninterest-Bearing Deposits 104,256 70,975 175,231
Interest-Bearing Deposits 702,635 1,060,391 1,763,026
Total Deposits $ 806,891 $1,131,366 $1,938,257
---------- ---------- ----------- ----------
Borrowed Funds 183,697 244,770 6,400 434,867
Trust Preferred Securities - 20,000 20,000
Other Liabilities 6,842 12,784 7,776 27,402
---------- ---------- ----------- ----------
TOTAL LIABILITIES $ 997,430 $1,408,920 14,176 $2,420,526
========== ========== =========== ==========
Common Equity 81,265 112,040 118,608 311,913
---------- ---------- ----------- ----------
TOTAL EQUITY 81,265 112,040 118,608 311,913
========== ========== =========== ----------
TOTAL LIABILITIES AND EQUITY $1,078,695 $1,520,960 132,784 $2,732,439
========== ========== =========== ==========
Book Value per Share $7.76 $12.82 $14.08
Tangible Book Value per Share 7.54 10.43 7.04
Equity / Assets 7.53% 7.37% 11.42%
Leverage Ratio 7.31 7.24 6.87
Total Risk Based Ratio 10.12 11.42 10.28
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
DEPOSITS(1) MORE THAN DOUBLE
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[GRAPH]
UNBO BFOH PRO FORMA
NIB NIB NIB
Deposits Deposits Deposits
12% 7% 9%
NOW & Other NOW & Other NOW & Other
Transaction Transaction Transaction
Accts Accts Accts
10% 9% 9%
Time less than $100X Time less than $100X Time less than $100X
34% 51% 44%
MMDA & MMDA & MMDA &
Savings Savings Savings
33% 14% 22%
Time greater than or equal to $100K Time greater than or equal to $100K Time greater than or equal to $100K
11% 19% 16%
Total Deposits $807 million Total Deposits $1.1 billion Total Deposits $1.9 billion
(1) Deposit balances as of June 30, 2001.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
LOAN STRUCTURE
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[CHART] [CHART] [CHART]
UNBO BFOH PRO FORMA
Consumer Consumer Consumer
(other) (other) (other)
28% 13% 20%
Commercial Commercial Commercial
13% 11% 12%
Aircraft Aircraft
16% 7%
Residential Residential Residential
Mortgage Mortgage Mortgage
28% 38% 34%
Commercial Commercial Commercial
Mortgage Mortgage Mortgage
15% 38% 27%
Total Loans $885 million Total Loans $1.1 billion Total Loans $2.0 billion
Loans / Deposits - 110% Loans / Deposits - 96% Loans / Deposits - 102%
[ ] BFOH SBA 7(a) loans total $44 million
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
CREDIT QUALITY
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UNBO BFOH
6/30/01 6/30/01 Combined
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Reserves / NPAs(1) 338% 71% 127%
NPAs / Loans & OREO 0.43 1.33 0.93
Provision / NCOs 108.35 113.34 110.77
NCOs / Average Loans 0.20 0.16 0.18
(1) NPAs defined as the sum of non-accrual loans, renegotiated loans, loans
90 days or more past due and foreclosed assets.
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
UNB CORP.
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($ in 000's)
CAGR
Financial Information 1997 1998 1999 2000 2001YTD (`95 - `00)
- --------------------- ----- ----- ------ ----- ------- -----------
Total Assets $826,313 $868,743 $970,529 $1,053,947 $1,078,695 8.5%
Total Investment Securities 140,838 134,449 133,677 130,891 123,540 0.4%
Total Net Loans 632,608 678,205 775,491 875,448 884,900 11.0%
Total Deposits 649,481 685,494 764,234 827,641 806,891 8.1%
Total Equity 76,520 71,702 70,674 75,298 81,265 2.9%
Net Income 9,006 10,900 14,055 14,270 8,004 14.1%
EPS 0.77 0.94 1.28 1.35 0.76 16.5%
Ratio Analysis
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ROAA 1.11% 1.27% 1.56% 1.41% 1.51%
ROAE 12.20 14.19 19.95 19.76 20.29
Cash Efficiency Ratio 55.83 57.03 55.88 53.98 55.09
Total Equity / Total Assets 9.26 8.25 7.28 7.14 7.53
Loans / Deposits 97.40 98.94 101.47 105.78 109.67
(1) 2001 YTD is through 6/30
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[UNB CORP LOGO] [BANCFIRST OHIO CORP. LOGO]
BANCFIRST OHIO CORP.
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($ in 000's)
CAGR
Financial Information 1997 1998 1999 2000 2001YTD (`95 - `00)
- --------------------- ----- ----- ------ ----- ------- -----------
Total Assets $1,081,618 1,181,011 $1,274,206 $1,559,601 $1,520,960 26.8%
Total Investment Securities 271,521 327,615 331,235 330,246 324,613 13.1%
Total Net Loans 761,027 777,063 849,767 1,089,651 1,085,848 32.3%
Total Deposits 747,047 789,622 799,176 1,113,555 1,131,366 26.2%
Total Equity 85,333 87,535 80,108 107,142 112,040 16.5%
Net Income 10,770 10,168 12,304 13,931 7,810 17.5%
EPS 1.29 1.26 1.50 1.66 0.89 10.8%
Ratio Analysis
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ROAA 0.98% 0.93% 1.02% 0.96% 1.01%
ROAE 13.20 12.01 14.29 15.42 14.30
Cash Efficiency Ratio 56.67 56.81 56.56 54.06 53.37
Total Equity / Total Assets 7.89 7.41 6.29 6.87 7.37
Loans / Deposits 101.87 98.41 106.33 97.85 95.98
(1) 2001 YTD is through 6/30.
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