Southstate Bank Corporation · NYSE:SSB
Southstate Bank — SCBT Financial — Q2 2013 Earnings Presentation
9 slides from Southstate Bank's earnings presentation, Jul 26, 2013
Slide 1: SCBT Financial Corporation 2nd Quarter 2013 Earnings Conference Call
SCBT Financial Corporation 2nd Quarter 2013 Earnings Conference Call July 26, 2013
Slide 2: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements Statements included in this report 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 21E of the Securities Exchange Act of 1934.
Slide 3: 2nd Quarter Highlights
2nd Quarter Highlights Soundness Asset Quality Improvement NPAs down $7.7 Million Classified Assets down $17.3 Million ALLL represents 1.45% of total non-acquired loans Net Charge-Off rate reduced to an annualized 40 basis points Profitability Net Income of $12.5 Million or $0.74 per diluted share O
Slide 4: Operating EPS-Diluted
Operating EPS-Diluted 2Q12 $0.633Q12 $0.634Q12 $0.721Q13 $0.712Q13 $0.77 $0.10 $0.10 $0.30 $0.40 $0.50 $0.60 $0.70 $0.80
Slide 5: Non-Acquired Loan Growth
Non-Acquired Loan Growth In Millions 2Q12 $43.937 3Q12 $36.1 4Q12 $53.7 1Q13 $33.3 2Q13 $61.3 $10 $20 $30 $40 $50 $60 $70
Slide 6: Margin Analysis
Margin Analysis Second Quarter Ended Linked Quarter June 30, March 31, June 30, Quarter 2013 - 2012 YIELD ANALYSIS 2013 2013 2012 % Change % Change Interest-Earning Assets: Average balance $ 4,496,345 $ 4,489,186 $ 3,703,553 0.16% 21.4% Interest earned $ 57,630 $ 56,169 $ 45,470 2.60% 26.7% Average
Slide 7: Operating Efficiency Ratio - QTD
Operating Efficiency Ratio - QTD 2Q 2012 68.3% 60.8% 3Q 2012 66.9% 59.0% 4Q2012 81.0% 62.8% 1Q2013 72.4% 64.5% 2Q 2013 69.5% 63.8%
Slide 8: Merger Financial Impact
TBV accretive ~ 3 to 3.5 years Double digit EPS accretive (excluding one-time merger costs) for the first full year Assumes preferred equity remains outstanding through 2014 Closes on July 26th, 2013 Cost savings ~ 30% by end of 2014 No revenue synergies assumed One-time merger related expenses ~ $2
Slide 9: Merger With FFCH
Merger With FFCH SCBT (81 branches) FFCH (65 branches) Pro Forma Branches: 146 FTE’s 2,275 Assets: $8.2 Billion Loans: $5.9 Billion Deposits: $6.7 Billion Core Deposits $4.9 Billion Financial data combined as of 6/30/2013. Does not include impact of purchase accounting adjustments GEORGIA Charlotte