Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Shareholder Meeting (May 2014)
17 slides from Southern First Bancshares's shareholder meeting presentation, May 21, 2014
Slide 1: Annual Shareholders Meeting May 20th, 2014
Southern First Bancshares, Inc. Annual Shareholders Meeting May 20th, 2014
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: Southern First Bank Corporate Profile
Southern First Bank Corporate Profile (*) Q1 2014 (**) FDIC data Headquartered in Greenville SC • 143 total employees $937 million in total assets (*) 6thlargest bank headquartered in SC • Greenville SC market • 4 offices • largest banking market in SC • #5 market share out of 34 banks (**) • Columb
Slide 4: Highlights
2013 Highlights: The value of your SFST stock improved 57% Net income increased 58% to $4.4 million Total deposits increased $104 million –18% increase Total loans increased $91 million –141% increase Significant improvement in credit costs Strategic talent acquisition
Slide 5: SFST Valuation Increased $21 million in 2013
SFST Valuation Increased $21 million in 2013 (up 57%) SFST –57% Bank Index –35% S&P 500 –30%
Slide 6: Highlight — Net Income Growth
2013 Highlight — Net Income Growth Earnings Momentum –58% increase in 2013 Quarterly Earnings — ($ 000s) $200 $400 $600 $800 $1,000 $1,200 $1,400 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 $399 $589 $842 $929 $784 $1,109 $1,228 $1,248 $1,057 2012 2014 2013
Slide 7: Highlight — Deposit / Loan growth
2013 Highlight — Deposit / Loan growth Deposits up 18% / Loans up 14% $600 $650 $700 $750 $800 Q4 2012 Q4 2013 $646 $737 Loans -$ mil $500 $550 $600 $650 $700 Q4 2012 Q4 2013 $576 $680 Deposits -$ mil
Slide 8: Highlight — improved credit costs
2013 Highlight — improved credit costs Reduce credit costs Credit Costs ($ mil) $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 2009 2010 2011 2012 2103 $4.7 $6.3 $6.2 $5.5 $3.7 Nonperforming assets improved to 1.07% at year end 2013 compared to 1.24% at year end 2012 Annualized charge-offs only .34% in 2013 compared
Slide 9: Highlight — Talent Acquisition
2013 Highlight — Talent Acquisition Technology / Mortgage / Client Relationships Executive Leadership Scott Bailey Jason Starnes Mortgage Executives Terryn Patterson — Charleston Lisa Gilstrap — Greenville Julia Howell — Columbia
Slide 10: Highlight — Talent Acquisition
2013 Highlight — Talent Acquisition Technology / Mortgage / Client Relationships Michael Edens — Columbia Kevin Lee — Charleston
Slide 11: Comparable Performance Banks in South Carolina
2013 Comparable Performance Banks in South Carolina FDIC Dec 2013 68% 47% Return on Assets 25% 75% SFST SC Banks 34% 51% Net Charge-offs 20% 40% 60% SFST SC Banks 64% 80% Efficiency Ratio 55% 75% SFST SC Banks $6.4 $3.9 Assets / Employee ($ mil) $2 $7 SFST SC Banks
Slide 12: 2014 — Performance Focus
2014 — Performance Focus: Momentum continues with strong Q1 2014 Q1 Earnings up 35% to $1.1 million Q1 Deposits grew $42 million — 18% growth Q1 Loans grew $42 million — 17% growth Raised $6.2 million in capital Compared to Q1 2013 sfb logo white-gold-on black.jpg
Slide 13: Strategic Vision: One Chance / One Step
Southern First — Strategic Vision: One Chance / One Step Unique Humble Visionary Winners Focus on the Client Experience Earn the privilege every day Expect excellence / create value Skate to where the puck will be
Slide 14: Strategic Vision: Executive Focus
Southern First — Strategic Vision: Executive Focus Growth: Revenue momentum Core deposits Innovation: Client experience Acquisition / Service Monthly Revenue $000s $2,200 $2,400 $2,600 $2,800 $3,000 Mar June Sep Dec Mar 2014
Slide 15: Strategic Vision: Executive Focus
Southern First — Strategic Vision: Executive Focus Capital: Growth / Mix Patience Shareholder Value: EPS growth Franchise value 0% 2% 4% 6% 8% 10% 12% 14% Common Equity Tier 1 Leverage Total Risk Based 7.70% 9.23% 12.11% Capital Ratios – Q1 2014
Slide 16: Creating Shareholder Value
Southern First Bancshares Creating Shareholder Value Earnings Momentum Unique Model Outstanding Markets Growth Company Risk Management Leadership Depth
Slide 17: Thank you for your continued support
Southern First Bancshares, Inc. Annual Shareholders Meeting Thank you for your continued support
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