South Atlantic Bancshares, Inc. · OTC:SABK
South Atlantic Bancshares — Shareholder Meeting (April 2023)
26 slides from South Atlantic Bancshares's shareholder meeting presentation, Apr 18, 2023
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 18, 2023
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words "may," "could," "shou
Slide 3: 2022 Highlights
2022 Highlights 15th anniversary Best results in our history Transitional year
Slide 4: 2022 Highlights
2022 Highlights Record growth Record profitability Key strategic hires Market expansion
Slide 5: 2022 Highlights: Outstanding results
2022 Highlights Outstanding results Double-digit growth across the balance sheet • Total assets increased 14.4 percent to $1.4 billion • Net income increased 11.5 percent to $12.1 million • Total gross loans increased 36.6 percent to $1.0 billion
Slide 6: 2022 Highlights: Strong performance across all markets
2022 Highlights Strong performance across all markets • Deposit growth & increased market share at every office • Pawleys Island office - #1 in its market • Murrells Inlet office - #2 in its market
Slide 7: 2022 Highlights: Organizational Restructure
2022 Highlights Organizational Restructure Two regions South Coast North Coast Region Region Chas and Lowcountry Grand Strand offices Len Howell Danny Siau Regional Executive Regional Executive
Slide 8: New Chief Financial Officer and Chief Operating Officer
2022 Highlights New Chief Financial Officer • Matt Hobert New Chief Operating Officer • Travis Minter
Slide 9: New Beaufort Office
2022 Highlights New Beaufort Office 12th office in Opened Permanent our coastal November office under franchise 2022 construction
Slide 10: 2022 Financials
2022 Financials re
Slide 11: Assets
Assets (years ending December 31, $000,000) 14.4% 1,600 á 1,409.6 1,400 1,232.0 1,200 946.5 1,000 718.4 800 630.2 600 400 200 0 2018 2019 2020 2021 2022 ®
Slide 12: Loans
Loans (years ending as of December 31, $000,000) 36.6% 1,002.6 1000 á 900 800 686.9 733.9 700 575.7 600 531.0 500 400 300 200 100 0 2018 2019 2020 2021 2022 ®
Slide 13: Deposits
Deposits (years as of December 31, $000,000) á 12.4% 1,400 1,216.8 1,200 1,082.1 1,000 834.9 800 616.8 600 530.3 400 200 0 2018 2019 2020 2021 2022 ®
Slide 14: Net Income
Net Income (years as of December 31, $000,000) 11.5% á 13.00 12.1 10.8 11.00 9.00 7.2 7.00 6.1 5.00 3.5 3.00 1.00 2018 2019 2020 2021 2022 ®
Slide 15: Earnings per Share (Diluted, $)
Earnings per Share (Diluted, $) 10.5% á 1.58 1.60 1.43 1.40 1.20 0.96 1.00 0.80 0.80 0.60 0.47 0.40 0.20 0.00 2018 2019 2020 2021 2022 ®
Slide 16: Net Interest Margin
Net Interest Margin (years ending December 31, %) 5.00 4.50 4.29 4.16 4.00 3.79 3.54 3.51 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 2018 2019 2020 2021 2022 ®
Slide 17: Comparative Income Statement
Comparative Income Statement (at December 31) 2022 2021 Change Total interest income................ $48,832,883 $37,986,367 28.6% Total interest expense.............. 4,195,884 2,198,401 90.9% Net interest income……………… $44,636,999 $35,787,966 24.7% Provision for loan losses…………. 1,950,000 1,324,220
Slide 18: Questions about 2022?
Questions about 2022? a
Slide 19: 2023 Focus
2023 Focus
Slide 20: Q1 Accomplishments: First Cash Dividend
Q1 Accomplishments First Cash $0.10 per Dividend share paid Paid in February
Slide 21: Q1 Accomplishments: Charleston Office Relocation
Q1 Accomplishments Charleston Office Relocation • Newly renovated Class-A office space • Premier corner of East Bay and Calhoun streets • Commercial and mortgage lenders added
Slide 22: Q1 Accomplishments: New online and mobile banking platform
Q1 Accomplishments u Launched new online and mobile banking platform
Slide 23: Focus in 2023: South Coast growth initiative
Focus in 2023 South Coast growth initiative • Summerville office planned
Slide 24: Focus in 2023
Focus in 2023 Online account opening Technology Upgrades After-hours Contactless call center debit cards
Slide 25: Mission Statement
Mission Statement To serve, in a fair, balanced, and superior manner, the interest of shareholders, customers, employees, and the public through adherence to high standards of financial soundness, exemplary customer service, employee professionalism, business ethics, corporate citizenship, and profi
Slide 26: Annual Meeting of Shareholders
Annual Meeting of Shareholders April 18, 2023
South Atlantic Bancshares — Shareholder Meeting (April 2023) on 6ix