Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Greenville First Bancshares — Sandler O'Neill & Partners Financial Services Conference 2005
12 slides from Southern First Bancshares's conference presentation, Nov 17, 2005
Slide 1: Greenville First Bancshares, Inc. Financial Services Conference
=~) [= WE FIRST GREENVILLE FIRST BANCSHARES, INC. www.greenvillefirst.com Sandler O'Neill & Partners, L.P. Financial Services Conference November 17", 2005
Slide 2: Forward-Looking Statements
d-Looking Statements During the course of this presentation, management may make projections and forward-looking statements regarding events or the future financial performance of Greenville First Bancshares, Inc. We wish to caution you that these forward-looking statements involve certain risks and
Slide 3: Corporate Profile
— Corporate Profile ¢ Greenville First Bank opened in 2000 ¢ $375 million in total assets (1) * Greenville SC market - $7.6 billion in deposits (2) *3.1% Market Share (2) * GVBK — NASDAQ market * 23% Insider Ownership ¢ $58 million — Market Capitalization (1) + 2 offices /51 employees 1 — As of Sept
Slide 4: GVBK Investment Profile
GVBK — Investment Profile ¢ Growth Story ¢ Performance Driven Leadership » Unique Gere I RST Model * Dynamic Greenville, SC Market ¢ Performance /Momentum Fl T
Slide 5: Asset growth is 28% over September 2004
¢ Asset growth is 28% over September 2004 ¢ 3rd quarter year-to-date carnings up 84% over same period in 2004 @ Total Assets (in millions) @ Net Earnings (in thousands) $500 ; $3,000 $2,409 375 2,500 20 00 S16 $2000 -_ $300 $1,500 $1,0007/ | $200 $500! $100 $0 2002 2003 2004 2005 2002 2003 2004 2005
Slide 6: Corporate Strategy
Corporate Strategy — Unique ! ClhentIRST * Targeted Focus — Professional & Executive Market * Relationship Team Structure — Personal Banker — Drives growth — Provides superior client service — Produces sustainable efficiencies ¢ Highly Experienced Bank Team — Zero employee turnover Fl T
Slide 7: SC's most populous county
¢ SC’s most populous county ¢ Largest deposit market in SC with over $7.6 billion in deposits ¢ Deposit growth averaging 9% annually over the past five years ¢ Diverse economy as market is home to over 240 international companies including BMW & Michelin Source - FDIC 2005
Slide 8: Market Share Data
K - Market Share Data Carolina First 13 1,639 21.5% Wachovia 22 1,523 20.0% BB&T 20 1,124 14.7% Bank of America a 795 10.4% SunTrust 20 409 5.4% Bank of TR 7 282 3.7% Palmetto Bank 12 274 3.6% 16 others 43 1,351 17.7% Source - FDIC ~ June 2005 dl FI T
Slide 9: Performance Highlight - Efficiency
Performance Highlight — Efficiency - Efficiency ratio = 49.5% as of September 2005 * 50% increase in the number of people in the last year ——Efficiency Ratio 80% 70% 60% 50% 40% 2002 2003 2004 Sep ‘05 WA HE ele
Slide 10: Performance Highlight - Efficiency Comparison
Performance Hig ght — Efficier y Comparison ¢ Assets per employee = $8.5 million (1) ¢ Earnings per employee = $39.6 thousand (year to date) (1) Greenville First @ Assets per Employee SC Average @ Earnings per Employee $50.0 $40.0 $30.0 $20.0 $10.0 $39.6 $ - thousands Greenville First $23.8 SC Avera
Slide 11: Growth Plan
K — Growth Plan ¢ Market expansion > Parkway office opened March 2005 >» Augusta Road office opened November 2005 ¢ Retail funding focus > transaction account balances up 52% in 18 months ¢ Banker acquisition strategy > 3 key bankers acquired in the last year * Capitalize on market / merger disrupti
Slide 12: Searchable text section of graphics shown above
Searchable text section of graphics shown above [LOGO] GREENVILLE FIRST BANCSHARES, INC. www.greenvillefirst.com [LOGO] Financial Services Conference November 17th, 2005 Forward-Looking Statements During the course of this presentation, management may make projections and forward-looking statements
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