South Atlantic Bancshares, Inc. · OTC:SABK

South Atlantic Bancshares — Q3 2023 Earnings Presentation

13 slides from South Atlantic Bancshares's earnings presentation, December 2023

  1. Slide 1: Investor Presentation Third Quarter 2023 Financials

    Investor Presentation Third Quarter 2023 Financials TAILOR-MADE FOR THE CAROLINA COAST. OTCQX: SABK CONFIDENTIAL PRESENTATION

  2. Slide 2: Forward Looking Statements

    FORWARD LOOKING STATEMENTS This presentation contains projections, predictions, expectations, and other statements with respect to South Atlantic Bancshares, Inc. (the “Company”) and its subsidiaries as to beliefs, future events, and/or results that are based on current expectations, estimates, and

  3. Slide 3: South Atlantic Profile

    SOUTH ATLANTIC PROFILE Why South Atlantic Bancshares, Inc.? • Community bank of choice in favorable Myrtle Beach, Murrells Inlet, Hilton Head, and Charleston MSAs – Top 3 community bank(1) deposit market share in three of the four market served • One of South Carolina’s fastest growing banks, succes

  4. Slide 4: Corporate Timeline

    CORPORATE TIMELINE Our Mission: 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 citizensh

  5. Slide 5: Experienced Management Team

    EXPERIENCED MANAGEMENT TEAM K. Wayne Wicker | Chairman & Chief Executive Officer Mr. K. Wayne Wicker serves as Chairman of the Board and Chief Executive Officer of South Atlantic Bancshares, Inc. and South Atlantic Bank. He is a veteran banker with more than 35 years of experience in the Myrtle Beac

  6. Slide 6: Board of Directors

    BOARD OF DIRECTORS K. Wayne Wicker Martha S. Lewis Chairman & Chief Executive Officer, South Atlantic Senior Physical Therapist at Next Step Rehabilitation Bancshares, Inc. Director Since 2011 Director Since 2007 R. Scott Plyler James Carson Benton, Jr. President, South Atlantic Bancshares, Inc. Co-

  7. Slide 7: MSA Highlights

    MSA HIGHLIGHTS Tailor-made for the Carolina Coast • 12 full-service branch locations along the coast of South Carolina • 12th branch location in Beaufort opened in late 2022; permanent stand-alone location currently under construction • 2nd Hilton Head location added in 2021 • Average deposits per b

  8. Slide 8: Strong Market Demographics & Positioning

    STRONG MARKET DEMOGRAPHICS & POSITIONING KEY MSAs SERVED DEPOSIT MARKET SHARE SUMMARY Deposits Total Overall Community Market ($M) Branches Rank Bank Rank(2) COUNTY-LEVEL DEPOSIT MARKET SHARE SUMMARY Horry, SC 642 4 7 3 Myrtle Beach, SC Murrells Inlet, SC Georgetown, SC 283 2 3 1 Beaufort, SC 225 4

  9. Slide 9: Shareholder Value Creation

    SHAREHOLDER VALUE CREATION Consistent Growth in Tangible Book Value Since 2017 Capital Raise 9.3% TBV / Share (Ex. AOCI) $15.70 GROWTH CAGR(1) 2017 – 3Q’23 $14.80 $13.15 $13.10 $11.69 $12.17 $10.72 $11.73 $11.14 $9.77 $10.88 $9.44 $9.67 $9.42 2017 2018 2019 2020 2021 2022 2023YTD TBV / SHARE TBV / S

  10. Slide 10: Financial Profile

    FINANCIAL PROFILE As Of Or For The Year Ending December 31, As Of Or For The Quarter Ending In $000s except for per share data 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2022 3/31/2023 6/30/2023 09/30/23 Consolidated Balance Sheet Total Assets $630,216 $718,402 $946,541 $1,231,953

  11. Slide 11: Balance Sheet Trends

    BALANCE SHEET TRENDS History of Strong, Disciplined Growth TOTAL ASSETS ($M) TOTAL GROSS LOANS ($M) 20.9% 17.3% CAGR(1) 2018Y – 3Q’23 CAGR(1) 2018Y – 3Q’23 $1,551.3 $1,136.2 $1,409.6 $1,002.6 $1,232.0 $946.5 $723.6 $743.6 $718.4 $580.6 $630.2 $532.0 2018Y 2019Y 2020Y 2021Y 2022Y 3Q'23 2018Y 2019Y 20

  12. Slide 12: Profitability Trends

    PROFITABILITY TRENDS RETURN ON AVERAGE ASSETS (%) RETURN ON AVERAGE TANGIBLE COMMON EQUITY (%) 0.98% 14.11% 0.87% 0.89% 0.83% 11.72% 11.50% 0.70% 0.57% 8.11% 8.48% 5.33% 2018Y 2019Y 2020Y 2021Y 2022Y 2023YTD 2018Y 2019Y 2020Y 2021Y 2022Y 2023YTD NET INCOME ($M) EFFICIENCY RATIO (%) $11.8 (LTM) $12.1

  13. Slide 13: Asset Quality Highlights

    ASSET QUALITY HIGHLIGHTS Stable Profile, with $0 OREO NONPERFORMING ASSETS ($M, EX. TDRs) NPAs / ASSETS (%, Ex. TDRs) 0.09% $0.6 $0.5 0.07% $0.2 $0.2 0.02% $0.1 $0.0 0.01% 0.00% 0.01% 2018Y 2019Y 2020Y 2021Y 2022Y 3Q'23 2018Y 2019Y 2020Y 2021Y 2022Y 3Q'23 NPLs / LOANS (%) RESERVES / GROSS LOANS (%)

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