Southstate Bank Corporation · NYSE:SSB
Southstate Bank — SCBT Financial — Merger or Acquisition (August 2011)
10 slides from Southstate Bank's merger presentation, Aug 1, 2011
Slide 1: BankMeridian, N.A. FDIC-Assisted Transaction
BankMeridian, N.A. Columbia, South Carolina FDIC-Assisted Transaction July 29, 2011
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements included in this press release 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. Forward-looking stateme
Slide 3: Transaction Overview
Transaction Overview SCBT has purchased and assumed certain assets and liabilities from the FDIC as receiver of BankMeridian N.A., Columbia, SC No holding company assets or liabilities Purchased approximately $240 million in total assets, including $176 million in loans (1) Substantially all loans a
Slide 4: Transaction Rationale
Transaction Rationale Consistent with SCBT’s strategy; meets goals and priorities Immediately accretive to EPS and Tangible Book Value Opportunity to leverage excess liquidity Strong pro forma capital No capital raise necessary Familiar customer base and loan portfolio in SCBT’s legacy markets NIM e
Slide 5: Proven Acquiror
Proven Acquiror 5 Data Source: SNL Financial SCBT legacy branches Disciplined FDIC bidder with loss sharing experience Key FDIC-Assisted Transactions Assets ($mm) Branches BankMeridian, N.A. $240 3 Habersham Bank 388 8 Community Bank & Trust 1,017 36
Slide 6: Overview of BankMeridian, N.A.
Overview of BankMeridian, N.A. Charleston Columbia Greenville 6 Data Source: SNL Financial Hilton Head SCBT BankMeridian, N.A. Richland County, SC Distance: 0.9 mi Beaufort County, SC Distance: 1.1 mi Spartanburg County, SC Distance: 236 ft
Slide 7: Deposit Mix — June 30, 2011
Deposit Mix — June 30, 2011 Deposits — Standalone (1) Assumes estimated $216 million of deposits for BankMeridian, N.A., based on book values as of 3/31/11, excludes fair value adjustments as required by ASC 805 Deposits — Pro Forma (1) 7 Interest-bearing Deposits 41% CDs < $100,000 18% CDs > $100,0
Slide 8: Loan Portfolio — June 30, 2011
Loan Portfolio— June 30, 2011 Loans — Standalone (1) Assumes estimated $176 million of loans from BankMeridian, N.A., based on book values as of 3/31/11, excludes fair value adjustments as required by ASC 805 Loans— Pro Forma (1) 8 C&D 12% 1 -4 Family 23% CRE 35% C&I 8% Covered Loans 13% Consumer &
Slide 9: Proven History of Executing on Growth Opportunities
Proven History of Executing on Growth Opportunities 2005 2006 2007 2008 2009 2010 2011 November 18, 2005: Sun Bancshares, Inc. (Murrells Inlet, SC) Deal Value: $27mm 2 Branches $100mm in Assets $90mm in Deposits April 8, 2005: New Commerce Bancorp (Greenville, SC) Deal Value: $20mm 2 Branches $96mm
Slide 10: Investor Contacts
Investor Contacts Robert R. Hill, Jr. Chief Executive Officer 803-765-4629 or Robert.Hill@scbtonline.com John C. Pollok Senior Executive Vice President and Chief Operating Officer 803-765-4628 John.Pollok@scbtonline.com 10