Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Shareholder Meeting (May 2023)
11 slides from Southern First Bancshares's shareholder meeting presentation, May 16, 2023
Slide 1: Annual Shareholder Meeting
NN XXX XK Southern ANNUAL SHAREHOLDER MEETING May 16, 2023 VEO OOOO
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS During the course of this presentation, management may make projections and forward- looking statements regarding events or the future financial performance of Southern First Bancshares, Inc. We wish to caution you that these forward-looking statements involve certain risk
Slide 3: Corporate Profile: SFST (NASDAQ)
CORPORATE PROFILE: SFST (NASDAQ) Greenvile Charlotte, NC Southern First Markets: sc 2000 Headquartered in Greenville, SC Started as a de novo bank 23 years ago As of December Total Assets $3.7 Billion ‘Common Shares Outstanding 8,0Million Book Value PerCommon Share $36.76,
Slide 4: 2022 Year-End Highlights
2022 YEAR-END HIGHLIGHTS GROWTH & FINANCIAL PERFORMANCE 2022 Net income $29.1 million Earnings per share (diluted) $3.61 Book value $36.76 Deposit growth $570 million Loan growth $783 million
Slide 5: 2022 Industry Environment
2022 Industry Environment Federal Reserve begins increasing rates to fight inflation + 425 basis points from March - December + Highest and fastest rate increase in over 40 years Increasing deposit costs reduces net interest margin Increasing rates result in unrealized losses in investment portfolio
Slide 6: Q1 2023 Results
Q1 2023 RESULTS Net income of $2.7 million * $0.33 diluted EPS Loan growth of $145 million Core deposit growth of $187 million + Record level of retail deposit growth and accounts opened Book value has grown 6.5% since Q1 2022 and now equals $37.16 Superb asset quality
Slide 7: 2023 Current Industry Environment
2023 Current Industry Environment Federal Reserve has continued increasing rates to fight inflation * 500 basis points from March 2022 - May 2023 + Highest and fastest rate increase in over 40 years Industry currently dealing with instability and lack of public confidence + Silicon Valley Bank / Sig
Slide 8: 2023 Current Regional Bank Stock Valuations
2023 Current Regional Bank Stock Valuations US regional banks tumble on renewed health fears BW Regional Banking Index
Slide 9: 2023 Current Industry Environment
2023 Current Industry Environment Southern First’s R Solid deposit growth, both in balances and account openings Maintaining credit discipline Constant, transparent communication with our team Staying focused on allocating the next dollar of capital Remaining engaged with the communities we serve In
Slide 10: SFST - Focused on growing shareholder value
SFST - Focused on growing shareholder value Growth Performance Model Organic strength in a Technology/h each market : efficient struct Markets Attractive markets in SC, NC, & GA Leadership Performance driven
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