Southstate Bank Corporation · NYSE:SSB
Southstate Bank — South State — Q2 2018 Earnings Presentation
10 slides from Southstate Bank's earnings presentation, Jul 30, 2018
Slide 1: 2nd Quarter 2018 Earnings Call
2nd Quarter 2018 Earnings Call July 31, 2018
Slide 2: Forward Looking Statements
Forward Looking Statements Statements included in this communication, 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 27A of the Securities Act of 1933 and Section 21E of the Securitie
Slide 3: 2Q 2018 Highlights
2Q 2018 Highlights 3 *Adjusted is a Non-GAAP financial measure that excludes the impact of branch consolidation, merger related expenses, securities gains or losses. GAAP Adjusted* Net Income EPS Return on Average Assets Return on Average Tangible Equity $40.5 million $1.09 1.12% 13.79% $52.7 millio
Slide 4: Net Interest Margin
Net Interest Margin $140.0 4.50% $120.0 $100.0 4.00% $80.0 $60.0 3.50% $40.0 2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018 Net Interest Margin Net Interest Income 4 In Millions $129.0$129.6 $112.3 $99.0$100.3 4.18%4.22% 4.14% 4.13%4.11%
Slide 5: Average Interest Earning Assets 2Q 2018
Average Interest Earning Assets 2Q 2018 5Dollars in millions; Quarterly Averages Assets % of Earning 1Q 2018 Assets % of Earning Assets Net Change Short-Term Investments 1.3% $ 166 1.6% $ 203 $ 37 Investment Securities 13.4% 1,666 13.1% 1,653 (13) Loans - Acquired 32.1% 4,008 29.7% 3,742 (266) Loans
Slide 6: Acquired Loan Portfolio
Acquired Loan Portfolio As of June 30, 2018 Yield / Disc Second Quarter 2018 (Yields Annualized) 6 Dollars in millions Income Statement Contractual Interest Accretion Total Income Contractual Yield Total Yield Acquired Credit Impaired $8.3 $6.0 $14.3 5.09% 9.91% Acquired NonCredit Impaired 36.8 7.7
Slide 7: 2nd Quarter 2018 Highlights: Noninterest Income
2nd Quarter 2018 Highlights 7 Dollars in Millions; *Adjusted is a Non-GAAP financial measure that excludes the impact of branch consolidation, merger related expenses, securities gains or losses. Noninterest Income 1Q 2018 2Q 2018 Net Change Fees on Deposit Accounts $ 22.5 $ 22.6 $ 0.1 Mortgage Bank
Slide 8: Efficiency Ratio
Efficiency Ratio 70.0% 66.7% 65.6% 65.0% 60.0% 57.6% 55.0% 50.0% 45.0% 40.0% 2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018 Efficiency Ratio Adjusted* Efficiency Ratio 8 *Adjusted is a Non-GAAP financial measure that excludes the impact of branch consolidation, merger related expenses, and securities gains
Slide 9: Earnings Per Diluted Share
Earnings Per Diluted Share $4.85 $5.00 $4.18 $4.11 $4.00 $3.00 $2.00 $1.00 $1.15 $0.00 2014 2015 2016 Adjusted* EPS (Non-GAAP) 2017 2Q18 YTD EPS *Adjusted is a Non-GAAP financial measure that excludes the impact of branch consolidation, merger related expenses, securities gains or losses, and deferr
Slide 10: Tangible Book Value
Tangible Book Value $35.00 $30.00 2Q17 3Q17 4Q17 1Q18 2Q18 10 $34.64 $34.05 $33.66$33.61 $32.70