Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Greenville First Bancshares — Super-Community Bank Conference Southeast 2006
17 slides from Southern First Bancshares's conference presentation, Feb 6, 2006
Slide 1: Greenville First Bancshares, Inc. Super-Community Bank Conference
GREENVILLE FIRST BANCSHARES, INC. www.greenvillefirst.com Super-Community BANK CONFERENCE Southeast — February 6-7, 2006
Slide 2: Forward-Looking Statements
d-Looking Statements During the course of this presentation, management may make projections and forward-looking statements regarding events or the future financial performance of Greenville First Bancshares, Inc. We wish to caution you that these forward-looking statements involve certain risks and
Slide 3: Corporate Profile
— Corporate Profile ¢ Greenville First Bank opened in 2000 ¢ $405 million in total assets (1) * Greenville SC market - $7.6 billion in deposits (2) *3.1% Market Share (2) * GVBK — NASDAQ market * 23% Insider Ownership ¢ $65 million — Market Capitalization (1) * 3 offices / 53 employees 1-As of Decem
Slide 4: GVBK — Investment Profile
GVBK — Investment Profile ¢ Growth Story ¢ Performance Driven Leadership » Unique Gere I RST Model * Dynamic Greenville, SC Market ¢ Performance /Momentum Fl T
Slide 5: Assets exceed $400 million / 28% growth over 2004
* Assets exceed $400 million / 28% growth over 2004 Loans increased 21% for 2005 $500 $400 $300 $200 $1004 Wi Total Assets (in millions) 2002 2003 2004 2005 $400 $300 $200 $100 + @ Loans (in millions) $280 $339 2002 2003 2004 2005 G Geel FI T
Slide 6: Net earnings increased 25% to $2.5 million
* Net earnings increased 25% to $2.5 million and reflect 4% quarter charge related to move of corporate headquarters ¢ Operating earnings increased 71% to $3.4 million @ Net Eamings (in thousands) @ Net Operating Eamings (in thousands) $3,000 $2514 $4,000 $3,444 $2,000 $2,013 $3,000 $2,000 $1,000 $1
Slide 7: GVBK — Performance Driven Leadership
GVBK — Performance Driven Leadership ¢ Board & Executive Team > Interests aligned with shareholders > Performance based compensation structure — 35% of executive compensation is incentive based * Market Knowledge & Experience > Average executive team member has worked in the market for more than 20
Slide 8: Corporate Strategy — Unique
Corporate Strategy — Unique ! ClhentIRST * Targeted Focus — Professional & Executive Market * Relationship Team Structure — Personal Banker — Drives growth — Provides superior client service — Produces sustainable efficiencies ¢ Highly Experienced Bank Team — Winning culture Fl T
Slide 9: SC's most populous county
¢ SC’s most populous county ¢ Largest deposit market in SC with over $7.6 billion in deposits ¢ Deposit growth averaging 9% annually over the past five years ¢ Diverse economy as market is home to over 240 international companies including BMW & Michelin Source - FDIC 2005
Slide 10: Market Share Data
K - Market Share Data Carolina First 13 1,639 21.5% Wachovia 22 1,523 20.0% BB&T 20 1,124 14.7% Bank of America a 795 10.4% SunTrust 20 409 5.4% Bank of TR 7 282 3.7% Palmetto Bank 12 274 3.6% 16 others 43 1,351 17.7% Source - FDIC ~ June 2005 dl FI T
Slide 11: Performance Highlight — Disciplined Credit Culture
Performance Hig ght — Disciplined Credit Culture ¢ Loan loss reserve / total loans = 1.33% 1) * Reserve covers nonperforming loans 9.6 times @ NCO's to Avg. Total Loans 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.00% @ NPA's/ Total Assets 1.00% 0.80% 0.60% 0.07% 2001 2002 2003 2004 2005 0.40% 0.20%
Slide 12: Performance Highlight — Efficiency
Performance Highlight — Efficiency - Efficiency ratio = 49.2% for 2005 * 36% increase in the number of people in the last year ——Efficiency Ratio 80% 70% 60% 50% 40% 2002 2003 2004 2005 WA HE ele
Slide 13: Performance Highlight — Efficiency Comparison
Performance Highlight — Efficiency Comparison ¢ Assets per employee = $7.7 million (1) ¢ Earnings per employee = $54.9 thousand (year to date) (1) @ Assets per Employee @ Earnings per Employee Greenville First SC Average Greenville First SC Average Notes: i (1) Data as of September 30, 2005 Le the S
Slide 14: Momentum
K - Momentum — ROA & margin improvement — Operating earnings increased 71% — 36% increase in retail deposits — 24% increase in transaction accounts @ Return on Assets - operating earnings @ Net Interest Margin 1.20% 3.80% 1.0056 1 3.60%. 0.80% 3.40%. 0.60% 3.20%. 0.40% - tll 3.00% = ™ ‘2004 ‘2005 ‘2
Slide 15: Growth Plan
K — Growth Plan ¢ Market expansion >» Parkway office opened March 2005 >» Augusta Road office opened November 2005 >» New headquarter building in June 2006 ¢ Retail funding focus > transaction account balances up 92% since beginning of 2004 ¢ Banker acquisition strategy » 3 key bankers acquired in t
Slide 16: GVBK - Summary
GVBK - Summary ¢ Experienced & Performance Driven Leadership * Unique Chent@IRST Model ¢ Attractive Greenville, SC Market ¢ Growth Story * Solid Performance / Disciplined Credit Culture Fl T * Momentum
Slide 17: Searchable text section of graphics shown above
Searchable text section of graphics shown above [LOGO] GREENVILLE FIRST BANCSHARES, INC. www.greenvillefirst.com [LOGO] Southeast - February 6-7, 2006 Forward-Looking Statements During the course of this presentation, management may make projections and forward-looking statements regarding events or
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