First National Bancshares — Investor Presentation (March 2008)
20 slides from First National Bancshares's investor presentation, Mar 25, 2008
Slide 1: First National Bancshares, Inc.
IRST NATIONAL’ BANCSHARES, INC.
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation constitute “forward- looking statements.” Forward-looking statements relate to future events or our future financial performance and include statements about the competitiveness of the banking industry, potential regulatory obligatio
Slide 3: Company Overview
Company Overview Community-oriented bank with a focus on small and medium-sized businesses and consumers Headquartered in Spartanburg, South Carolina Commenced operations in March 2000 Expansion into growth markets Acquired Carolina National Corporation in January 2008
Slide 4: Company Overview
Company Overview Over $825 million in assets in 8 years Ninth largest financial institution headquartered in South Carolina Experienced management team with long term ties in communities served
Slide 5: Company Overview
Company Overview Network of 11 full-service branches across South Carolina Asset growth of 26.0% in 2007 with 3 new branches Earnings in 2007 of $4.1 million or $0.84 per diluted share
Slide 6: 2008 Company Overview
2008 Company Overview Two new full-service branches planned for 2008 Acquired Columbia-based Carolina National Bank Jan. 31, 2008 (4 branches) Expanded into North Carolina with the opening of a loan production office in Jan. 2008
Slide 7: Footprint in South Carolina's Best Markets
Footprint in South Carolina’s Best Markets * Source: SNL Financial LC
Slide 8: Attractive Marketplace: Spartanburg, SC
Attractive Marketplace Spartanburg, SC Estimated population totals 266,809 residents (1) Estimated median family income $54,200 (2) Attracted over $129 million in capital investment in 2005 (3) Named the top U.S. market for European business expansion by Expansion Management magazine with more than
Slide 9: Spartanburg Market
Spartanburg Market $3.45 billion in deposits as of June 30, 2007 Top 5 banks control 64.6% of market Wachovia Bank of America BB&T First Citizens Bank First National Bank of the South ranked 4th out of 16 institutions with 11.35% of the market share or $391.5 million in deposits First National Bank
Slide 10: Attractive Marketplace: Western Region - Greenville, SC
Attractive Marketplace Western Region - Greenville, SC South Carolina’s most populous county with an estimated 407,383 residents (1) One of South Carolina’s wealthiest counties with an estimated median income of $56,500 in 2006 (2) Attracted $6 billion in new business investment in the past 10 years
Slide 11: Greenville Market
Greenville Market $9.590 billion in deposits as of June 30, 2007 Top 5 banks control 70.7% of market Carolina First Bank Wachovia BB&T Bank of America SunTrust Bank First National Bank of the South ranked 25 th out of 29 institutions with 0.19% of the market share or $17.8 million in deposits
Slide 12: Attractive Marketplace: Coastal Region - Charleston, SC
Attractive Marketplace Coastal Region - Charleston, SC Estimated population totals 330,368 residents (1) Achieved an 11.7% employment growth rate from 2000 through 2006 (2) In 2004, attracted over $593.0 million in capital investment (3) Estimated median family income for the Charleston/North Charle
Slide 13: Charleston Market
Charleston Market $7.037 billion in deposits as of June 30, 2007 Top 5 banks control 70% of market Wachovia Bank of America First Federal NBSC BB&T
Slide 14: Attractive Marketplace: Midlands Region - Columbia, SC
Attractive Marketplace Midlands Region - Columbia, SC Strategic South Carolina Market State capital Geographically situated between the Upstate and Coastal regions Attractive demographics Large population base (over 600,000 in Richland and Lexington Counties)* High median household income ($50,255 i
Slide 15: Columbia Market
Columbia Market Richland and Lexington Counties had $11.29 billion in deposits as of June 30, 2007* Top 5 banks control 81.5% of market Wachovia Bank of America BB&T NBSC First Citizens Carolina National ranked 8th out of 22 institutions with 1.73% of the market share or $195 million in deposits *De
Slide 16: Attractive Marketplace: Northern Region - Rock Hill, SC
Attractive Marketplace Northern Region – Rock Hill, SC Opened loan production office in February 2007 Home of Winthrop University and several key businesses, including Wells Fargo Home Mortgage, Bowater and Duke Power Lancaster County has a population of 62,220 residents York County has a population
Slide 17: Stock Performance
Stock Performance (NASDAQ: FNSC) Market Cap of $65 million* (6.4 million shares) (*not including preferred stock of $18 million) One of the largest insider ownership of all financial institutions headquartered in South Carolina (35+%) Trading at median 17X last 12 months earnings
Slide 18: 7th Largest Publicly Traded South Carolina Financial Institution
7th Largest Publicly Traded South Carolina Financial Institution *Rank based on as reported assets Market cap is as of the market closed on 3/20/2008 Assets are as of June 30, 2007 or the most recently reported quarter Source: SNL Financial LC Market Assets Cap. #* Company Ticker Headquarters ($MM's
Slide 19: Largest South Carolina Financial Institutions
9 th Largest South Carolina Financial Institution * Rank based on as reported assets Source: SNL Financial LC; Assets are as of June 30, 2007 or the most recently reported quarter Assets #* Company Ticker Headquarters ($MM's) 1 South Financial Group, Inc. TSFG Greenville, SC 14,158 2 First Citizens
Slide 20: First National Bancshares, Inc.
IRST NATIONAL’ BANCSHARES, INC.
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