South Atlantic Bancshares, Inc. · OTC:SABK
South Atlantic Bancshares — Shareholder Meeting (April 2021)
24 slides from South Atlantic Bancshares's shareholder meeting presentation, Apr 20, 2021
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 20, 2021
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words "may," "could," "shou
Slide 3: 2020 Highlights
2020 Highlights u Produced record results • Total assets increased 32% to $946.5 million • Net income increased 19% to $7.2 million • Noninterest income increased 64% u Paycheck Protection Program • Processed 1,013 PPP loans • Totaling $91.7 million
Slide 4: 2020 Highlights: Mortgage Group
2020 Highlights u Mortgage Group • Record year • Closed 867 mortgage loans totaling $265 million • Produced $4.2 million in fee income • Incredible performance from loan officers and operations staff
Slide 5: 2020 Highlights (Continued)
2020 Highlights (Continued) u New Website • Updated design for mobile and desktop users • Digital marketing efforts drive traffic via ads, social media and email u Strong performance across all markets • Horry-Georgetown Counties: 7th with just 6 offices • South Strand offices rank 2nd • Bluffton an
Slide 6: 2020 Highlights (Continued)
2020 Highlights (Continued) u Covid-19 Response • Crisis Management Team • Safety protocol • Drive-thru service and branch staff rotation • Remote work using VDI software • Re-opened all lobbies in October u Stellar Teamwork • Employees worked seven days a week to process loans and open accounts dur
Slide 7: 2020 Financials
2020 Financials
Slide 8: Assets
Assets (periods ending December 31, $000) 32.0% 946.5 1000 á 900 800 718.4 700 630.2 600 518.4 500 444.5 400 300 200 100 0 2016 2017 2018 2019 2020 ®
Slide 9: Loans
Loans (periods ending as of December 31, $000) 19.3% 900.0 á 800.0 686.9 700.0 575.7 600.0 531.0 500.0 434.9 367.5 400.0 300.0 200.0 100.0 0.0 2016 2017 2018 2019 2020 ®
Slide 10: Deposits
Deposits (periods as of December 31, $000) 35.4% 1000 á 900 834.9 800 700 616.8 600 530.3 500 439.2 382.3 400 300 200 100 0 2016 2017 2018 2019 2020 ®
Slide 11: Net Income
Net Income (periods as of December 31, $000) 9.00 18.6% 8.00 á 7.2 7.00 6.1 6.00 5.00 4.00 3.2 3.5 2.6 3.00 2.00 1.00 0.00 2016 2017 2018 2019 2020 ®
Slide 12: Earnings per Share (Diluted)
Earnings per Share (Diluted, $) 20% 0.96 1.00 á 0.90 0.80 0.80 0.70 0.60 0.60 0.53 0.47 0.50 0.40 0.30 0.20 0.10 0.00 2016 2017 2018 2019 2020 ®
Slide 13: Net Interest Margin
Net Interest Margin (periods ending December 31, %) 4.40 4.29 4.30 4.20 4.16 4.10 4.02 4.00 3.90 3.85 3.79 3.80 3.70 3.60 3.50 2016 2017 2018 2019 2020 ®
Slide 14: Comparative Income Statement
Comparative Income Statement (at December 31) 2020 2019 Change Total interest income................ $33,584,205 $32,243,765 4.2% Total interest expense.............. 3,556,542 5,429,119 -34.5% Net interest income……………… $30,027,663 $26,814,646 12.0% Provision for loan losses…………. 1,685,000 810,000 1
Slide 15: Questions about 2020?
Questions about 2020?
Slide 16: First Quarter 2021
First Quarter 2021
Slide 17: First Quarter 2021 vs. 2020
First Quarter 2021 vs. 2020 39.2% 45.0% á 1200.0 16.3% á 1036.7 á 1000.0 921.5 744.8 800.0 691.1 635.6 594.1 600.0 2020 2021 400.0 200.0 0.0 Loans Deposits Assets ®
Slide 18: Consecutive Quarters Comparison
Consecutive Quarters Comparison (December 31, 2020 to March 31, 2021) 0.6% 10.4% 9.5% 1200.0 á á á 1036.7 921.5 946.5 1000.0 834.9 800.0 686.9 691.1 2020 600.0 2021 400.0 200.0 0.0 Loans Deposits Assets ®
Slide 19: Comparative Income Statement
Comparative Income Statement (at March 31st) 2021 2020 Change Total interest income................. $ 9,432,155 $ 8,038,544 17.3% Total interest expense............... 575,095 1,332,104 (56.8)% Net interest income……………… $ 8,857,060 $ 6,706,440 32.1% Provision for loan losses…………. 285,000 245,000 16
Slide 20: 2021 Accomplishments
2021 Accomplishments u Opened New Hilton Head Office • Our 11th office • Ideal location in the business and medical district near prominent neighborhoods • Office added in response to growth at our Park Lane office
Slide 21: 2021 Accomplishments
2021 Accomplishments u Reached $1 billion in assets • Achieved through deliberate growth • Focus remains on customer service, culture and community support u Payroll Protection Program Loans • Continued to process loans to support our business customers and their employees • Currently funded $52 mil
Slide 22: Focus in 2021
Focus in 2021 u Technology upgrades to better serve our customers • New enhancements to our current platform • Updated mobile and online banking platforms • New Customer Relationship Management software u Continue to support the communities we serve
Slide 23: Mission Statement
Mission Statement To serve, in a fair, balanced, and superior manner, the interest of shareholders, customers, employees, and the public through adherence to high standards of financial soundness, exemplary customer service, employee professionalism, business ethics, corporate citizenship, and profi
Slide 24: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 20, 2021
South Atlantic Bancshares — Shareholder Meeting (April 2021) on 6ix