Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Q2 2026 Earnings Presentation
23 slides from Southern First Bancshares's earnings presentation, Jul 21, 2026
Slide 1: Second Quarter 2026 Investor Presentation
SECOND QUARTER 2026 INVESTOR PRESENTATION July 21, 2026
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: Company Overview: Relationship Banking with 25+ Years of Service Excellence
Company Overview Relationship Banking with 25+ Years of Service Excellence CORPORATE PROFILE OPERATING MARKETS Headquartered in Greenville, SC Founded in 2000 Greensboro Raleigh Efficient branch footprint in some of the most Charlotte North dynamic markets in the Southeast Carolina 12 branch
Slide 4: Market Data and Financial Snapshot for Q2 2026
Company Overview Market Data and Financial Snapshot for Q2 2026 Market Data MRQ Financial Metrics Q2 2026 Financial Highlights $579 Million $4.7 Billion 0.96% Diluted EPS of $1.20, up 48% YoY Market Capitalization Total Assets Return on Average Greensboro Raleigh NIM of 2.87% ⁴, down 1bp QoQ and
Slide 5: Key Investment Highlights
Company Overview Key Investment Highlights Experienced, founder-led management team with 25+ year focus on creating a unique client experience and producing returns for shareholders Operating in highly attractive dynamic Southeast metro markets, resulting in scarcity value and a differentiated growt
Slide 6: Growth in Shareholder Value Over Time
Company Overview Growth in Shareholder Value Over Time SFST KRX S&P 500 1000% Relative Performance 900% SFST KRX S&P 500 1-Year 61% 26% 21% 800% 5-Year 19% 22% 75% 10-Year 154% 82% 257% 700% 15-Year 770% 181% 468% 600% 500% 400% 300% 200% 100% 0% (100%) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2
Slide 7: Who We Are
Company Overview Who We Are Our Mission Our Culture Our Purpose Our mission is to impact lives in the We focus on the things that matter We exist to enable dreams, earn communities we serve most: family, community, and trust, and exceed expectations teamwork Relationship driven with a focus on excep
Slide 8: Business Model Provides a Distinct Competitive Advantage
Company Overview Business Model Provides a Distinct Competitive Advantage Relationship Model Business Strategy Commercial Real Focus on profitable organic growth in our Estate Loans metro markets Construction Commercial Real Estate Business Provide a distinctive client experience Loans Loans A C
Slide 9: Presence in High-growth Metro Markets
Company Overview Presence in High-growth Metro Markets 2025 2025 2026 20 - '26 26 - '31 Year Deposits Deposits Population Pop. Change Proj. Pop Market Entered Offices ($M) (%) (#000s) (%) Change (%) State South Carolina 2000 8 2,782 76% 5,593 9.3 6.1 Georgia 2017 1 470 13% 11,314 5.6 3.7 North Carol
Slide 10: Proven Ability to Gain Market Share
#1 deposit market Company Overview share in South Carolina for banks with less than $10 Proven Ability to Gain Market Share billion in assets Greenville, SC MSA – Deposit Market Share Expansion Markets – Deposit Growth CAGRs 5-Year 2025 Charleston, SC ¹ (10-year) Atlanta, GA (5-year) 2025 Deposit Ma
Slide 11: Operating Leverage Trends are Improving
Company Overview Operating Leverage Trends are Improving Core revenue ¹ has increased 72% since Q1 2024 Core Revenue ¹ ($M) Noninterest Expense ($M) Revenue momentum is $34.6 expected to continue through +72% $32.3 NIM expansion and strong loan growth $30.1 $29.5 Noninterest expense has only $
Slide 12: Substantial Balance Sheet Repricing Opportunities Exist
Company Overview Substantial Balance Sheet Repricing Opportunities Exist NIM increased 37 bps versus Q2 Fixed Rate Loan Repricing <6% ² 2025 and was relatively flat Principal Balance ($M) Weighted Avg. Rate from Q1 2026 Balance sheet is well-positioned $298 for the current interest rate and 4.09
Slide 13: Demonstrated Ability to Drive Meaningful Balance Sheet Growth
Financial Highlights Demonstrated Ability to Drive Meaningful Balance Sheet Growth Total Assets ($M) Total Loans ($M) ¹ $4,700 $4,403 $4,056 $4,088 $4,030 $3,845 $3,692 $3,603 $3,632 $3,273 $2,926 $2,483 $2,490 $2,143 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Q2 2026 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Q2
Slide 14: Recent Profitability Improvement Has Been Substantial
Financial Highlights Recent Profitability Improvement Has Been Substantial Return on Average Assets (%) Return on Average Equity (%) 1.75% 18.64% 0.96% 10.28% 0.90% 10.20% 0.76% 8.73% 0.72% 8.49% 4.44% 4.84% 0.34% 0.38% 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Q2 2026 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y
Slide 15: History of Strong Earnings and Book Value Growth over Long Term
Financial Highlights History of Strong Earnings and Book Value Growth over Long Term Diluted Earnings per Share ($) ¹ $5.85 $4.79 $3.58 $3.61 $3.72 $2.88 $2.34 $1.94 $1.76 $1.91 $1.55 $1.66 $1.20 2015Y 2016Y 2017Y 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y Q2 2026 Book Value per Share ($) $47.7
Slide 16: Net Interest Margin
Financial Highlights Net Interest Margin NIM of 2.87% for Q2 2026, up 37 Net Interest Margin Dynamics bps and relatively flat compared to Q2 2025 and Q1 2026, respectively NIM ¹ Average Loan Yield Average Cost of Deposits Average loan yield has 5.15% 5.28% 5.35% improved despite the Fed 4.42% 4.
Slide 17: Diversified Loan Portfolio
Financial Highlights Diversified Loan Portfolio Well-diversified loan portfolio reflective of the balanced state of our markets Loan ¹ growth was 9.0% annualized for Q2 2026, with commercial real estate and business loans contributing ~51% of net growth CRE and ADC Concentration Ratios 2 Loan Po
Slide 18: Deposit Franchise
Financial Highlights Deposit Franchise Total deposit growth was 6.4% annualized for Q2 2026; retail ¹ deposit growth was 21.9% annualized for Q2 2026 Wholesale deposits decreased by $173.5 million since year end and decreased to 10% of deposits in Q2 2026 vs 15% at Q4 2025 Loan-to-Deposit Ratio
Slide 19: Noninterest Income
Financial Highlights Noninterest Income Q2 2026 noninterest income grew 5.2% YoY to $3.5 million, driven by deposit service fees within treasury management No planned acquisitions of fee income businesses (e.g., wealth management, insurance, etc.); current strategy to grow treasury management se
Slide 20: Noninterest Expense
Financial Highlights Noninterest Expense Q2 2026 noninterest expense increased 5.5% YoY to $20.4 million; driven primarily by compensation and benefits related to new hires and data processing related costs; NIE / avg. assets of 1.75% for Q2 2026 Opportunistic approach to hiring; targeting top t
Slide 21: Asset Quality
Financial Highlights Asset Quality NPAs / assets of 0.27% at June 30, 2026, and NCOs / average loans of 0.01% for Q2 2026 Commercial criticized and classified loans equal 1.13% and 0.19% of loans, respectively ACL / Gross Loans (%) NPAs / Assets (%) ¹ NCOs / Average Loans (%) $3.0 Net Charge-off
Slide 22: Capital Overview
Financial Highlights Capital Overview Consolidated Capital Ratios Regulatory capital ratios have increased as profitability has improved Tangible Common Equity/Tangible Assets1 Tier 1 Leverage Ratio Completed $65.2 million capital raise, CET1 Ratio Tier 1 RBC Ratio issuing 1,207,500 new shares i
Slide 23: DSS VE
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