Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Community Bank Investor Conference 2013
13 slides from Southern First Bancshares's conference presentation, Aug 1, 2013
Slide 1: Southern First Bancshares, Inc. (SFST) – Community Bank Investor Conference
Southern First Bancshares, Inc. (SFST) Art Seaver – Chief Executive Officer Justin Strickland – President Mike Dowling – Chief Financial Officer Community Bank Investor Conference July 31, 2013
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 forwardlooking statements involve certain risks
Slide 3: Southern First Bank Corporate Profile
Southern First Bank Corporate Profile (*) June 2013 (**) FDIC data Headquartered in Greenville S • $839 million in total assets (*) • 9th largest bank headquartered in SC • Greenville SC market – 4 offices • largest banking market in SC • #6 market share out of 34 banks (**) • Columbia SC market – 3
Slide 4: SFST market valuation
SFST market valuation: • SFST – $47 million market capitalization • $11.05 current price (7/15/13) – 97% TBV / 13 x LTM EPS • Ownership – 32% institutional / 16% insider SFST – last 12 months
Slide 5: SFST: Investment Profile
SFST: Investment Profile Performance Excellent earnings momentum / asset quality Model Proven organic growth / excellent efficiency Markets 3 largest SC markets / excellent demographics Leadership Market experience / performance driven
Slide 6: Performance: Strong earnings momentum
Performance Strong earnings momentum – up 88% in Q2 2013 Net Income * $0.10 $0.15 $0.20 $0.25 $0.30 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 $0.13 $0.20 $0.21 $0.18 $0.25 Earnings per share $250 $500 $750 $1,000 $1,250 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 $589 $842 $929 $784 $1,109 * Per common shareholder,
Slide 7: Performance: 2nd quarter highlights
Performance 2nd quarter highlights • Net income increased 88% to $1.1 million • Top line revenue growth – Total revenue up 12% from Q2 2012 • Margin expansion – 3.70% for Q2 2013 vs. 3.61% in Q2 2012 • Continued loan growth momentum – Loan balances up 11% from 2012 • Credit costs declining – $736 th
Slide 8: Model: Proven organic growth / excellent efficiency
Model Proven organic growth / excellent efficiency $575 $600 $625 $650 $675 $700 $725 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 $619 $638 $646 $665 $687 Loan Growth $400 $425 $450 $475 $500 $525 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 $427 $429 $428 $460 $474 Core Deposit Growth
Slide 9: Model: Proven organic growth / excellent efficiency
Model Proven organic growth / excellent efficiency 55% 60% 65% 70% 75% 80% Southern First SC Banks 67% 78% Efficiency Ratio $2 $3 $4 $5 $6 $7 $8 Southern First SC Banks $6.3 $4.0 Assets / Employee ($ mil) (1) FDIC March 2013
Slide 10: Markets – largest in SC
Markets – 3 largest in SC Greenville $10 billion deposit market Columbia – (2 counties) $12 billion deposit market Charleston $8 billion deposit market
Slide 11: Leadership – market experience
Leadership – market experience Greenville Art Seaver, CEO – 26 yrs Fred Gilmer, EVP – 25 yrs Mike Dowling, CFO – 18 yrs Columbia Justin Strickland, Pres – 26 yrs Charleston Len Howell, EVP – 20 yrs
Slide 12: SFST: Current Focus
SFST: Current Focus Improve core earnings strength Expand mortgage income / lower credit costs Execute growth strategies Organic markets / Charleston expansion Monitor our capital plan Growth / BASEL compliance / Preferred shares Strengthen infrastructure Service & technology / risk management
Slide 13: Southern First Bancshares: Focused on shareholder value
Southern First Bancshares Focused on shareholder value South Carolina Greenville Columbia Charleston Performance Earnings momentum Model Organic growth Markets Three largest markets in SC Leadership Focused on delivering value
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