Southstate Bank Corporation · NYSE:SSB
Southstate Bank — First Financial Holdings — Q4 2013 Earnings Presentation
10 slides from Southstate Bank's earnings presentation, Jan 28, 2014
Slide 1: 4th Quarter 2013 Earnings Call
4th Quarter 2013 Earnings Call January 28, 2014
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: 2013 – A Transformational Year
2013 – A Transformational Year With the July 2013 closing of the merger with First Financial Holdings, Total Assets are $7.9 Billion Key Areas of Focus Organic Loan Growth over 11% Improved Asset Quality - NPA reduction of over 30% Record Operating EPS of $3.16, a 26% increase over 2012 Total Shareh
Slide 4: Shareholder Return 2003 - 2013
Shareholder Return 2003 - 2013 10-Year Total Return 4 Source: SNL Financial Data as of 1/13/14 Total return includes reinvestment of dividends (41.1%) (12.0%) 1.8% 8.1% 8.8% 29.2% 53.6% 55.9% 58.7% 99.4% 110.7% 185.1% (70.0%) (20.0%) 30.0% 80.0% 130.0% 180.0% 230.0% SNL Southeast Bank SNL Mid - Atla
Slide 5: 4th Quarter 2013 Highlights
4th Quarter 2013 Highlights Record Operating Earnings $19.3 million, $0.80 per diluted share Operating ROAA 1.00% Operating Return on Average Common Equity 8.38% Cash dividend of $0.19 per common share Net Income of $13.2 million, $0.55 per diluted share Balance Sheet re-structuring this past quarte
Slide 6: Interest Earning Assets
Interest Earning Assets Assets 12/31/2013 9/30/2013 Net Change FFS & Reverse Repos $ 294.8 $ 378.8 $ ( 84.0) Investment Securities 812.6 652.6 160.0 Loans - Acquired 2,825.8 2,994.2 (168.4) Loans - NonAcquired 2,865.2 2,741.2 124.0 Loans Held for Sale 30.6 52.5 ( 21.9) Total Interest Earning Assets
Slide 7: Net Interest Margin
Net Interest Margin 5.25% 5.00% 4.75% cee 4.94% fy 501% Pr 4.70% 4.25% 4.00% 3.75% 3.50% 3.25% 3.00% - - 1012 2012 3Q12 4ai2z 1013 2013 3Q13 4Qi3 FIRST FINANCIAL HOLDINGS, INC.
Slide 8: Operating Efficiency Ratio - QTD
Operating Efficiency Ratio - QTD 8 8
Slide 9: FFCH Merger Update
Branch consolidation – 20 in total 10 branches in 1st Quarter 2 branches in late 2nd Quarter 8 branches during conversion Cost Saves ~ 30 % by end of 2014 One-time merger related expenses ~ $28 million (after-tax) Double digit EPS accretive (excluding one-time merger costs) in the first full year Li
Slide 10: First Financial Holdings Operating Earnings Per Share
First Financial Holdings Closing: July 26, 2013 Conversion: July 2014 Operating Earnings Per Share 10
First Financial Holdings — Q4 2013 Earnings Presentation on 6ix