Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Greenville First Bancshares — South Carolina Bank Investors Symposium 2003
22 slides from Southern First Bancshares's conference presentation, Aug 25, 2003
Slide 1: South Carolina Bank Investors Symposium
SOUTH CAROLINA BANK INVESTORS SYMPOSIUM AUGUST 21-22, 2003 rn FIRST GREENVILLE FIRST BANCSHARES, INC. www.greenvillefirst.com
Slide 2: Forward-Looking Statements
Forward-Looking Statements — FFSSSsh This presentation and its referenced documents contain forward-looking statements. These forward-looking statements are subject to risks and uncertainties. The statements are based on many assumptions and estimates and are not guaranties of future performance. Ou
Slide 3: Greenville First Bancshares, Inc.
Greenville First Bancshares, Inc. ee eeeep—=pe Greenville First opened January 10, 2000 $192 million in assets (June 2003) GVBK - 1.15 million shares outstanding Greenville Market — $6.1 billion in deposits 2.1% market share as of June 2002 1 office / 27 employees Source: FDIC 3 Ga Fl (ile
Slide 4: Corporate Strategy — Unique Model
Corporate Strategy — Unique Model
Slide 5: Performance Highlights
Performance Highlights Fess ¢ Consistent balance sheet growth ¢ Rapid earnings momentum Noted efficiencies Market share growth SC’s 13" fastest growing company* 2002 Elliott Davis f 8C Chamber of Commerce 5 feecuetl
Slide 6: Consistent Balance Sheet Growth
Consistent Balance Sheet Growth ee eeeep—=pe WTotal Assets (§ mil) 2000 2001 2002 2003 ytd 6 Ga bile FIRST
Slide 7: Balance Sheet Composite: Assets
Balance Sheet Composite: Assets — SSeS—sh Cash & Investments Other 8% 1% We As of June 30, 2008 ; G 9 FIRST
Slide 8: Balance Sheet Composite: Liabilities & Equity
Balance Sheet Composite: Liabilities & Equity Other Liabilities FHLB are Equity 13% 6% Checking 11% Money Market 10% CD's 48% i
Slide 9: Loan Composition
Loan Composition: —EE————————————————————=— Y Construction Ce i} create 6% Consumer RIE 16% Home Equity 12% Commercial Ri 24% Consumer a % Occupied Commercial RIE 19% iG As of June 30, 2003 ; Gp
Slide 10: Asset Quality
Asset Quality: eT 1.4%: 1.2%: 1.0%. 0.8%: 0.6%: 0.4%. 0.2%. GONPA Ratio GReserve Ratio / Total Loans 1.5% 1.4%: 1.3%: 1.2% 1.1%: 1.0% 0.9% 0.8%. 1Q 2Q 3Q 4Q 1Q 2Q 1Q 2Q 3Q 4Q 1Q 2Q 2002 2003 2002 2003 Ie Grewia 10 Fl T
Slide 11: Rapid Earnings Momentum
Rapid Earnings Momentum $$ SSeS—sh Pre-tax Income Comparison 400 350 300 250 {$ 000's) 200 150 100 50 2002 2003 1st Quarter 2nd Quarter "W Ga (ile FI
Slide 12: Net Interest Margin
Net Interest Margin: 3.6% 3.5% 3.4% 3.3% 3.2% 3.1% 3.0% 2.9% Gar Fl (ile
Slide 13: Loan Interest Sensitivity
Loan Interest Sensitivity: —_— —~ Variable Fixed 24% io As of June 30, 2003 G We 13 WM
Slide 14: Noted Efficiencies
Noted Efficiencies EE, 2 ¢ Assets per FTE / Earnings per FTE — $7 million per FTE « Efficiency Ratio — Less than 60% ¢ Non-interest expense management — 12.9% growth in N. * For period ending June 30, 2003 E vs. 32% growth in assets 14 Ga (ile Fl
Slide 15: Market Share Growth
Market Share Growth ee eeeep—=pe Greenville is the largest banking market in SC with $6.1 billion in deposits 25 21 2 1.4 1.5 vi ue 1 mi Market Share 0.6 05 0 2000 2001 2002 Source — FDIC June 2002 15 Ga (ile Fl
Slide 16: SC's Fastest Growing Company
SC’s 13 Fastest Growing Company EXETER scchamberg net Greenville First was recognized as the 13 fastest growing company in SC in the 2002 inaugural program sponsored by Elliott Davis & the SC Chamber Grewal FIRST 16
Slide 17: Capital Trends
Capital Trends Leverage -= Total Risk-Based 16% 14% 12% 10% <7 8% a eae 4% T T T T T 2002 2003 7 Gar (ile Fl
Slide 18: Book Value — Growth Trend
Book Value — Growth Trend ee eeeep—=pe $9.40 $9.20 $9.00 $8.80 7 $8.60 7 $8.40 7 $8.20 $8.00 $7.80 $7.60 Qi i874 Q3 a4
Slide 19: Stock Price History - GVBK
Stock Price History - GVBK bB + bomber Hoa 10 volume Seene 20000 H 10000 o Sep Oct Nov Dec 03 Feb Mar Apr May Jun Jul Aug FIRST mi cveK:US
Slide 20: Strategic Plan — Our Future
Strategic Plan — Our Future — FFSeSsh * Greenville First’s unique “Brand” — Focus on competitive advantages Continue Growing Assets & Earnings — Target market share of 4% — Achieve ROA of 1% by 2005 — Revenue per FTE — peer challenge — Develop non-interest income opportunities Selective Geographic E
Slide 21: Why Greenville First?
Why Greenville First? EEE Unique client-centered strategy Greenville Market Growth & Earnings Potential Strong Asset Quality Performance Driven Leadership Winning Team / Winning Culture 24 Gar Fl (ile
Slide 22: South Carolina Bank Investors Symposium
SOUTH CAROLINA BANK INVESTORS SYMPOSIUM AUGUST 21-22, 2003 4 FIRST GREENVILLE FiRST BANCSHARES, INC. 22
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