Southstate Bank Corporation · NYSE:SSB
Southstate Bank — SCBT Financial — Merger or Acquisition (February 2011)
15 slides from Southstate Bank's merger presentation, Feb 18, 2011
Slide 1: FDIC-Assisted Transaction: Clarkesville, GA
FDIC – Assisted Transaction: February 18, 2011 Clarkesville, GA
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements Statements included in this press release which are not historical in nature are intended to be, and are hereby identified as, forward looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934. Forward looking state
Slide 3: Transaction Overview
SCBT has purchased and assumed certain assets and liabilities from the FDIC as receiver of Habersham Bank, Clarkesville, Georgia No holding company assets or liabilities Purchased approximately $388 million in total assets, including $224 million in loans (1) All loans and other real estate owned ar
Slide 4: Overview of Habersham Bank
Founded in 1904 8 locations primarily in North Georgia Leading deposit market share – Combined NE Georgia market share – ranked 5th Top 5 ranking in 4 of 6 counties State of Georgia – moved to 16th from 24th Attractive deposit mix Solid core deposits Transaction accounts 35% of deposits More than 21
Slide 5: Unique Franchise Positioning
6 Unique Franchise Positioning (1) Demographic statistics based on SCBT’s market footprint by county in the respective market; calculation based on a weighted-average by FDIC deposit data as of June 30, 2010; unemployment rate weighted by county labor force (2) Based on book values as of December 31
Slide 6: Transaction reinforces SCBT's Foundation for Success
7 Transaction reinforces SCBT’s Foundation for Success SOUNDNESS Opportunity to enhance core earnings Improves core funding Infrastructure in place and ability to further leverage existing special assets team Capital raise provides additional strength for future growth PROFITABILITY Immediately accr
Slide 7: Clear and Defined Transition Plan
Unified Message Management is communicating with all Habersham Bank’s employees Town Hall meeting with Habersham Bank employees for introduction to the company and an overview of our transition plans Experienced integration team and existing infrastructure Familiarity with markets and customers Expe
Slide 8: Capital Raise
9 Capital Raise Private Placement of $35 million in contingent capital, at $31 per share Investor confidence in SCBT’s strategic plan Positions SCBT to further participate in strategic opportunities and consolidations within the industry Acquisition offsets dilution of additional shares
Slide 9: Northeast Georgia Deposit Market Share
10 Northeast Georgia Deposit Market Share Note: Dollars in millions Data Source: SNL Financial; FDIC Deposit Data as of June 30, 2010 Northeast Georgia # of Market Share Rank Institution Branches Deposits 2010 2009 1 United Community Banks, Inc. 23 $ 2,250.0 13.2 % 14.0 % 2 Wells Fargo & Company 22
Slide 10: SCBT & Habersham Franchise – Leads in Deposit Market Share
11 Note: Dollars in millions Data Source: SNL Financial; FDIC Deposit Data as of June 30, 2010 CBT & Habersham Franchise – Leads in Deposit Market Share Habersham County, GA # of Market Share Rank Institution Branches Deposits 2010 2009 1 Pro Forma Company 9 $ 523.7 57.8 % 67.3 % 1 SCBT Financial Co
Slide 11: SCBT & Habersham Franchise – Leads in Deposit Market Share
12 CBT & Habersham Franchise – Leads in Deposit Market Share Note: Dollars in millions Data Source: SNL Financial; FDIC Deposit Data as of June 30, 2010 Hall County, GA # of Market Share Rank Institution Branches Deposits 2010 2009 1 Regions Financial Corp. (AL) 8 $ 430.9 17.1 % 17.4 % 2 Wells Fargo
Slide 12: Deposit Mix – December 31, 2010
13 Deposit Mix – December 31, 2010 CDs < $100,000 20% CDs> $100,000 17% Demand Deposits 16% Savings 7% Interest-bearing Deposits 40% Deposits – Standalone Deposits – Pro Forma (1) CDs < $100,000 20% CDs> $100,000 19% Demand Deposits 16% Savings 7% Interest-bearing Deposits 38% (1) Assumes estimated
Slide 13: Loan Portfolio – December 31, 2010
14 Loan Portfolio – December 31, 2010 Loans – Standalone Loans – Pro Forma (1) Consumer RE 22% Commercial Non RE 34% Consumer Non RE 2% Other Loans 1% Covered 12% Commercial Real Estate 28% (1) Assumes estimated $224 million of loans from Habersham Bank, based on book values as of Dec. 31, 2010, exc
Slide 14: Proven History of Executing on Growth Opportunities
15 Proven History of Executing on Growth Opportunities April 8, 2005: New Commerce BanCorp (Greenville, SC) - Deal Value: $20mm - 2 Branches - $96mm in Assets - $81mm in Deposits February 2, 2006: SCBT enters Charleston market by hiring team of experienced banking executives from Carolina First Janu
Slide 15: Investor Contacts
16 Investor Contacts Robert R. Hill, Jr. Chief Executive Officer 803-765-4629 or robert.hill@scbtonline.com John C. Pollok Senior Executive Vice President and Chief Operating Officer 803-765-4628 or john.pollok@scbtonline.com 520 Gervais Street Columbia, South Carolina 29201 800-277-2175 www.scbtonl
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