South Atlantic Bancshares, Inc. · OTC:SABK
South Atlantic Bancshares — Shareholder Meeting (April 2020)
24 slides from South Atlantic Bancshares's shareholder meeting presentation, Apr 21, 2020
Slide 1: Annual Meeting of Shareholders April 21, 2020
Annual Meeting of Shareholders April 21, 2020
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: 2019 Highlights
2019 Highlights u Produced record growth • Reached $718.4 million in assets • Grand Strand offices reported best performance in our 12-year history u Established our presence in Bluffton and Hilton Head • Year-end results prove the 2018 acquisition of Atlantic Community Bank to be accretive
Slide 4: 2019 Highlights
2019 Highlights u Purchase of our New Operations Center • Moved into the 18,000 sq. ft building in May • Houses all of our operations departments under one roof • Allows for future growth and expansion • Supports our strategic growth plan along the South Carolina coast
Slide 5: 2019 Highlights (Continued)
2019 Highlights (Continued) u Digital Marketing • Digital advertising in all markets promoted bank brand and increased visits to our website • Presence on social media u Impressive market share • Horry-Georgetown Counties: 7th with just 5 offices • South Strand offices rank 2nd • Murrells Inlet: #1
Slide 6: 2019 Highlights (Continued)
2019 Highlights (Continued) u Staff Additions • Commercial lenders in Grand Strand market • Portfolio manager at Main Office • Operations specialists • Mortgage loan officers added in Charleston u Technology Updates • Converted to a virtual desktop infrastructure o Strengthened security and disaster
Slide 7: 2019 Financials
2019 Financials South Atlantic Bank
Slide 8: Assets (periods ending December 31, $000)
Assets (periods ending December 31, $000) 14.0% 800 á 718.4 700 630.2 600 518.4 500 444.5 400.2 400 300 200 100 0 2015 2016 2017 2018 2019
Slide 9: Loans (periods ending as of December 31, $000)
Loans (periods ending as of December 31, $000) 8.4% 600.0 575.7 531.0 á 500.0 434.9 400.0 367.5 309.0 300.0 200.0 100.0 0.0 2015 2016 2017 2018 2019
Slide 10: Deposits (periods as of December 31, $000)
Deposits (periods as of December 31, $000) 16.3% 700 á 616.8 600 530.3 500 439.2 382.3 400 337.4 300 200 100 0 2015 2016 2017 2018 2019
Slide 11: Net Income (periods as of December 31, $000)
Net Income (periods as of December 31, $000) 7.00 75.5% 6.10 6.00 á 5.00 4.00 3.50 3.20 3.00 2.60 2.20 2.00 1.00 0.00 2015 2016 2017 2018 2019
Slide 12: Earnings per Share (Diluted, $)
Earnings per Share (Diluted, $) 70.2% 0.80 0.80 á 0.70 0.63 0.60 0.60 0.53 0.47 0.50 0.40 0.30 0.20 0.10 0.00 2015 2016 2017 2018 2019
Slide 13: Net Interest Margin (periods ending December 31, %)
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 3.80 3.80 3.70 3.60 3.50 2015 2016 2017 2018 2019
Slide 14: Comparative Income Statement
Comparative Income Statement (at December 31) 2019 2018 Change Total interest income................ $32,243,765 $26,660,469 20.9% Total interest expense.............. 5,429,119 2,895,193 87.5% Net interest income……………… $26,814,646 $23,765,276 12.8% Provision for loan losses…………. 810,000 710,000 14.
Slide 15: Questions about 2019?
Questions about 2019? South Atlantic Bank
Slide 16: First Quarter 2020
First Quarter 2020 South Atlantic Bank
Slide 17: First Quarter 2020 vs. 2019
First Quarter 2020 vs. 2019 9.3% á 10.4% 7.69% 800.0 á 744.8 á 681.3 700.0 635.6 594.1 575.8 600.0 551.7 500.0 400.0 2019 2020 300.0 200.0 100.0 0.0 Loans Deposits Assets
Slide 18: Consecutive Quarters Comparison
Consecutive Quarters Comparison (December 31, 2019 to March 31, 2020) 3.2% 3.0% 3.7% 800.0 á á 718.4 744.8 á 700.0 594.1 616.8 635.6 575.7 600.0 500.0 2019 400.0 2020 300.0 200.0 100.0 0.0 Loans Deposits Assets
Slide 19: Comparative Income Statement
Comparative Income Statement (at March 31st) 2020 2019 Change Total interest income................. $ 8,038,544 $ 7,579,485 6.1% Total interest expense............... 1,332,104 1,181,631 12.7% Net interest income……………… $ 6,706,440 $ 6,397,854 4.8% Provision for loan losses…………. 245,000 165,000 48.5
Slide 20: 2020 Accomplishments
2020 Accomplishments u Opened New Towne Centre Office • Our 10th retail branch • Opened in January • Located in rapidly growing area of Carolina Forest • Motivated staff bringing in new business
Slide 21: 2020 Accomplishments
2020 Accomplishments u COVID-19 Response • Well-organized and accurate response by our crisis management team • Safety and health of employees and customers u SBA Payroll Protection Program Loans • Processing hundreds of loans to support our business customers and their employees during this crisis
Slide 22: Focus in 2020
Focus in 2020 u Focus on continued safety and soundness u Safely navigate the current pandemic and closely monitor our loan portfolio u Continue to be an active participant in 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 April 21, 2020
Annual Meeting of Shareholders April 21, 2020
South Atlantic Bancshares — Shareholder Meeting (April 2020) on 6ix