Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Q3 2024 Earnings Presentation
14 slides from Southern First Bancshares's earnings presentation, Oct 22, 2024
Slide 1: Third Quarter 2024 Investor Presentation
SN XXX KL Southern THIRD QUARTER 2024 INVESTOR PRESENTATION October 22, 2024 VO NOOO
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS During the course of this presentation, management may make projections and forward- looking statements regarding events or the future financial performance of Southern First Bancshares, Inc. We wish to caution you that these forward-looking statements involve certain risk
Slide 3: Corporate Profile
Atlanta GEORGIA CORPORATE PROFILE Authentic relationship banking with 25 years of service excellence + $4.2 Billion - Total Assets » $3.6 Billion - Total Loans + $3.5 Billion - Total Deposits » Solid Capital Levels + Tier 1 RBC of 10.99% + Consistent TBV growth » Outstanding Asset Quality + NPAs of
Slide 4: Investment Considerations
INVESTMENT CONSIDERATIONS
Slide 5: High-Growth Metro Markets
HIGH-GROWTH METRO MARKETS 2024 Population (Actual) 24 -'29 Proj. HHL Growth %| SFST's % of SFST's % of Total Deposits 20 - '24 Pop.| 24 -'29 Proj. Change % | Pop. Growth Total Deposits Greenville, SC 2000 4 48.72% 978,230 54 5.2 77 Charleston, SC 2012 3 19.96% 851,938 65 6.2 94 Atlanta, GA 2017 1 12
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS Net income of $4.4 million and diluted earnings per common share of $0.54 Total loans of $3.6 billion and total deposits of $3.5 billion Nonperforming assets to total assets of 0.28% and net recoveries of $9 thousand Net interest margin of 2.08% for Q3 2024, compared to 1.98% fo
Slide 7: Loan & Deposit Composition
z LOAN & DEPOSIT COMPOSITION Construction over Home equity °6% . 5.49% Owner occupied RE 17.8% Real estate 31.3% Total Loans $3.62 Billion Non-owner y occupied RE 25.3% Business 3 14.4% Construction 4.0% m Commercial, 61.5% mm Consumer, 38.5% *Total loans excludes mortgage loans held for sale. Whole
Slide 8: Balance Sheet Trends
$3.70 $3.60 $3.50 $3.40 $3.30 $3.20 $3.10 BALANCE SHEET TRENDS Loans Core Deposits $364 ggg) 9362 550% $290 $2.87 Ses $3.60 : ean $2.81 $2.81 ‘ i $2.80 5.10% $2.70 5.00% ¥ 2 $2.60 4.30% 4.80% LI $2.40 - Fs 4.60% $230 — J Q3 2023 =Q42023 =Q1 2024 §=Q22024 =Q3 2024 Q32023 Q42023, Q12024 = Q2.2024 = Q3
Slide 9: Asset Quality
ASSET QUALITY Loans 30 days or more past due/loans* _ y P » NPAs were modestly down and there were nominal 1.00% charge-offs, as asset quality remains a source of strength 0.80% and compares favorably to community banking peers. OEO% anim = » NPAs mainly consist of two Assisted Living-related credit
Slide 10: Office Portfolio
10 OFFICE PORTFOLIO Non-Owner Occupied Office Exposure *Number in thousands =|Medical Office | Office - Multiple Tenant =| Office - Single Tenant Q3 Total Credit Exposure % of Total Loans Average Loan Size Median Loan Size Largest Loan Size 30+ Days Past Due Special Mention Substandard Accruing Nona
Slide 11: Capital Ratios
CAPITAL RATIOS Holding Company Capital Ratios: Q3 2024 Q2 2024 Total risk-based capital ratio 12.61% 12.77% 12.59% 12.57% 12.56% Tier 1 risk-based capital ratio 10.99% 10.80% 10.63% 10.60% 10.58% Leverage ratio 8.50% 8.27% 8.43% 8.14% 8.17% Common equity tier 1 ratio @) 10.58% 10.39% 10.22% 10.19% 1
Slide 12: Financial Management Opportunities
12 Financial Management Opportunities Continue to strengthen the balance sheet through high-quality, profitable growth and capital accretion Balance current earnings improvement decisions with long-term balance sheet management considerations Execute on prudent action steps to increase net interest
Slide 13: Our Culture of Success
OUR CULTURE OF SUCCESS with a focus on and Embrace and the evolution of our industry Committed to versus M&A - credit risk and enterprise risks - branch light footprint Located in major metro, high-growth Dedicated to an entrepreneurial, team-focused that results in strong career satisfaction Utiliz
Slide 14: SN XXX KL
SN XXX KL Southern VO NOOO
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