South Atlantic Bancshares, Inc. · OTC:SABK
South Atlantic Bancshares — Shareholder Meeting (April 2025)
23 slides from South Atlantic Bancshares's shareholder meeting presentation, Apr 24, 2025
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 24, 2025
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: 2024 Highlights: Year-End 2024 Results
2024 Highlights Year-End 2024 Results • Net income totaled $10.1 million • Total deposits 12.9% to $1.5 billion • Total loans 13.1% to $1.3 billion • Total assets 10.2% to $1.8 billion
Slide 4: 2024 Highlights: Strategic Initiatives
2024 Highlights Strategic Initiatives • Improved cash position • Solid deposit growth • Very well margined • Pristine credit quality
Slide 5: 2024 Highlights: Cash Dividend Paid
2024 Highlights Cash Dividend Paid • The Company’s second cash dividend of $0.10 paid in February 2024
Slide 6: 2024 Highlights: Market Share
2024 Highlights Market Share • Pawleys Island office • #1 Market Share - 31.99% • Murrells Inlet office • #1 Market Share – 16.61% • Georgetown office • #2 Market Share – 19.22%
Slide 7: 2024 Highlights: New Branches, Beaufort
2024 Highlights Beaufort ➢New office opened December 9 th ➢Expanded presence in the Lowcountry market New Branches
Slide 8: 2024 Highlights: Carnes Crossroads
2024 Highlights Carnes Crossroads ➢Temporary office opened July 2024 ➢New office opening Spring 2025 ➢12th branch
Slide 9: 2024 Financials
2024 Financials a
Slide 10: Assets (years ending December 31)
Assets (years ending December 31, $000,000) 10.2% 2,000 1,787.20 1,800 1,622.2 1,600 1,409.6 1,400 1,232.0 1,200 946.5 1,000 800 600 400 200 0 2020 2021 2022 2023 2024 ®
Slide 11: Loans (years ending December 31)
Loans (years ending as of December 31, $000,000) 13.1% 1,338.9 1400 1,184.2 1200 1,002.6 1000 733.9 800 686.9 600 400 200 0 2020 2021 2022 2023 2024 ®
Slide 12: Deposits (years ending December 31)
Deposits (years as of December 31, $000,000) 12.9% 1,600 1,460.7 1,400 1,294.1 1,216.8 1,200 1,082.1 1,000 834.9 800 600 400 200 0 2020 2021 2022 2023 2024 ®
Slide 13: Net Income (years ending December 31)
Net Income (years as of December 31, $000,000) 13.00 12.1 0.36% 10.8 11.00 10.0 10.1 9.00 7.2 7.00 5.00 3.00 1.00 2020 2021 2022 2023 2024 ®
Slide 14: Earnings per Share (Diluted)
Earnings per Share (Diluted, $) 1.80 0.8% 1.58 1.60 1.43 1.40 1.32 1.31 1.20 0.96 1.00 0.80 0.60 0.40 0.20 0.00 2020 2021 2022 2023 2024 ®
Slide 15: Net Interest Margin
Net Interest Margin (years ending December 31, %) 5.00 4.50 4.00 3.79 3.54 3.52 3.50 3.00 2.96 2.78 2.50 2.00 1.50 1.00 2020 2021 2022 2023 2024 ®
Slide 16: Comparative Income Statement
Comparative Income Statement (at December 31) 2024 2023 Change Total interest income................ $87,192,325 $69,198,953 26.0% Total interest expense.............. 43,059,995 26,703,523 61.3% Net interest income……………… $44,132,330 $42,495,430 3.9% Provision for credit losses……… 1,432,000 755,000
Slide 17: Questions about 2024?
Questions about 2024? a
Slide 18: 2025 Focus
2025 Focus
Slide 19: Q1 Accomplishments
Q1 Accomplishments Third $0.10 per Consecutive Cash Dividend share paid Paid in February
Slide 20: Focus in 2025: Strategic Goals
Focus in 2025 Strategic Goals • Measured growth • Core funding through deposits • Improved efficiency ratio • Leverage systems and employees in place
Slide 21: Focus in 2025: Commitment to our Communities
Focus in 2025 Commitment to our Communities • Habitat for Humanity of Horry County partnership • $200,000 Affordable Housing Program funds to provide safe, affordable housing solutions • First-time buyer fixed-rate mortgage program for Habitat homebuyers
Slide 22: 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 23: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 24, 2025
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