Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Shareholder Meeting (May 2013)
16 slides from Southern First Bancshares's shareholder meeting presentation, May 22, 2013
Slide 1: Annual Shareholders Meeting May 21st, 2013
Southern First Bancshares, Inc. (SFST) Annual Shareholders Meeting May 21st, 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 forward-looking statements involve certain risk
Slide 3: Southern First Bancshares Corporate Profile
Southern First Bancshares Corporate Profile Headquartered in Greenville SC • 135 total employees $822 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 offic
Slide 4: 2012 Operating Highlights
2012 Operating Highlights: SFST valuation increased $11 million or 43% Net income increased 85% to $3.9 million Margin improved by 31 basis points to 3.61% Loans increased by over $47 million Noninterest income increased by 36% Nonperforming assets improved to 1.24%
Slide 5: SFST Valuation Increased $11 million in 2012 (up 43%)
SFST Valuation Increased $11 million in 2012 (up 43%) SFST – 43.1% Bank Index – 30.2% S&P 500 – 13.4%
Slide 6: SFST Valuation Increased $11 million YTD 2013 (up 31%)
SFST Valuation Increased $11 million YTD 2013 (up 31%) SFST – 30.7% Bank Index – 14.6% S&P 500 – 14.5%
Slide 7: 2012 / 2013 Strategic Highlights
2012 / 2013 Strategic Highlights Focused on improving shareholder value Exited TARP program through preferred share auction Redeemed $2 million of preferred shares Conversion to state chartered bank Expansion of mortgage operations Expansion to Charleston market Opened additional office in Columbia
Slide 8: Charleston expansion opportunity
Charleston expansion opportunity: Right market / Right time / Right bankers Charleston Team: • Len Howell • Eddie Tuttle • Blake Dressler • Jessica Pigott
Slide 9: Strategic Vision: One Chance / One Step - Operating Initiatives
Southern First – Strategic Vision: One Chance / One Step • Operating Initiatives: • Continue building earnings momentum • Capitalize on growth opportunities • Increase noninterest income • Reduce credit costs • Continue overhead efficiencies • Create world class client experiences • Invest in strate
Slide 10: Strategic Vision: One Chance / One Step - Strategic Initiatives
Southern First – Strategic Vision: One Chance / One Step • Strategic Initiatives: • Manage capital effectively • Preferred stock redemption plan • Recognize dilutive exposure • Monitor capital market options • Increase communication of the SFST story • Monitor strategic growth opportunities
Slide 11: Operating Initiatives: Generate earnings momentum
Operating Initiatives: Generate earnings momentum • Revenue growing – Net interest income up 12% in 2012 – 8% loan growth in 2012 • Fee income increasing – Up 36% in 2012 • Momentum – 2013 monthly revenue up 12% on average
Slide 12: Operating Initiatives: Reduce credit costs
Operating Initiatives: Reduce credit costs • Nonperforming assets improved to 1.07% in Q1 2013 – NPA’s declined 36% since Q1 2012 • Annualized charge-offs only .52% in Q1 2013 – Charge-offs totaled .71% in 2012 * Credit costs – provision expense plus other real estate expenses
Slide 13: Operating Initiatives: Continue overhead efficiencies
Operating Initiatives: Continue overhead efficiencies (1) FDIC Dec 2012
Slide 14: Q1 2013 Performance
Q1 2013 Performance Earnings Momentum – 40% increase in Q1
Slide 15: Southern First Bancshares Investment Value
Southern First Bancshares Investment Value Earnings Momentum Leadership Depth Unique Model Risk Management Outstanding Markets Growth Company
Slide 16: Focused on shareholder value
Southern First Bancshares Focused on shareholder value 2013 Shareholder Meeting Thank you for your continued support
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