Southstate Bank Corporation · NYSE:SSB
Southstate Bank — SCBT Financial — Merger or Acquisition (February 2010)
15 slides from Southstate Bank's merger presentation, Feb 1, 2010
Slide 1: FDIC-Assisted Transaction of Cornelia, GA
FDIC – Assisted Transaction of: January 29, 2010 Cornelia, GA
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements contained in this presentation, which are not historical facts, are forward-looking statements. In addition, SCBT Financial Corporation (SCBT) through its senior management or directors may from time to time make forward-looking public statements concerning matt
Slide 3: Transaction Overview
Transaction Overview SCBT has purchased and assumed certain assets and liabilities from the FDIC as receiver for Community Bank & Trust (CBT) No holding company assets or liabilities Excludes two smaller banking subsidiaries of Community Bankshares, Inc. Purchased approximately $1.0 billion in total
Slide 4: Transaction Rationale
Transaction Rationale Consistent with SCBT’s operating strategy; meets goals and priorities established in Fall 2008 Current footprint in the Carolinas combines higher-growth markets with a stable core deposit base SCBT has demonstrated its ability to successfully enter new markets (Upstate SC in 20
Slide 5: Unique Franchise Positioning
Unique Franchise Positioning (1) Demographic statistics based on SCBT’s market footprint by county in SC, NC and GA; calculation based on a weighted-average by FDIC deposit data as of June 30, 2009; unemployment rate weighted by county labor force (2) Based on book values as of December 31, 2009, ex
Slide 6: Overview of Trust
Overview of Community Bank & Trust Founded in 1900 38 locations primarily in North Georgia 36 branches, including 24 in-store branches 1 Loan Production Office 1 Trust & Investment Center Leading deposit market share Top 5 ranking in 9 of 10 counties No less than 5% market share Attractive deposit m
Slide 7: Trust: Leading Deposit Market Share
Community Bank & Trust: Leading Deposit Market Share Note: Dollars in millions Data Source: SNL Financial; FDIC Deposit Data as of June 30, 2009 Habersham County, GA # of Market Share Rank Institution Branches Deposits 2009 2008 1 Community Bank & Trust (GA) 6 $ 423.9 39.3 % 37.5 % 2 Habersham Banco
Slide 8: Trust: Leading Deposit Market Share
Community Bank & Trust: Leading Deposit Market Share Note: Dollars in millions Data Source: SNL Financial; FDIC Deposit Data as of June 30, 2009 Barrow County, GA # of Market Share Rank Institution Branches Deposits 2009 2008 1 Peoples Holding Co. (GA) 7 $ 390.0 43.3 % 43.5 % 2 First American Bancor
Slide 9: Trust: Leading Deposit Market Share
Community Bank & Trust: Leading Deposit Market Share Note: Dollars in millions Data Source: SNL Financial; FDIC Deposit Data as of June 30, 2009 Towns County, GA # of Market Share Rank Institution Branches Deposits 2009 2008 1 Chatuge Bank Shares Inc. (GA) 3 $ 263.7 61.8 % 61.8 % 2 United Community
Slide 10: Business Mix by Market – December 31, 2009
Business Mix by Market – December 31, 2009 Loans – Pro Forma (1) Deposits – Pro Forma (2) Greenville 6% Charlotte / NCBT 14% Orangeburg / Low Country 24% Other 1% Georgetown 5% Charleston 2% Beaufort 7% Columbia 7% Greenville 11% Charlotte / NCBT 16% Orangeburg / Low Country 15% Other 1% Georgetown
Slide 11: Loan Portfolio – December 31, 2009
Loan Portfolio – December 31, 2009 Loans – Standalone Loans – Pro Forma (1) Commercial owner occupied 21% Commercial & Industrial 10% Consumer Owner Occupied 13% Other Income Producing Property 6% Home Equity Loans 11% Consumer 3% Other Loans 1% Commercial non-owner occupied 14% All Other Constructi
Slide 12: Clear and Defined Transition Plan
Clear and Defined Transition Plan Unified Message Senior management has communicated with all CBT management and branch managers Town Hall meeting with CBT employees for introduction to the company and an overview of our transition plans Added to the CBT team a former UCBI market president with 17 y
Slide 13: Proven History of Executing on Growth Opportunities
Proven History of Executing on Growth Opportunities April 8, 2005: New Commerce BanCorp (Greenville, SC) - Deal Value: $20mm - 2 Branches - $96mm in Assets - $81mm in Deposits February 2, 2006: SCBT enters Charleston market by hiring two experienced banking executives from Carolina First January 29,
Slide 14: Transaction Satisfies Goals and Priorities Established in Fall 2008
Transaction Satisfies Goals and Priorities Established in Fall 2008 Immediately accretive to EPS and TBV per share Opportunity to enhance core earnings Improves funding mix Earn our way through the credit cycle Loss-share agreement protects SCBT on acquired loans and securities Strong pro forma capi
Slide 15: 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 or john.pollok@scbtonline.com 520 Gervais Street Columbia, South Carolina 29201 800-277-2175 www.scbtonline
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