Southern First Bancshares, Inc. · NASDAQ:SFST
Southern First Bancshares — Investor Presentation (March 2015)
16 slides from Southern First Bancshares's investor presentation, Mar 4, 2015
Slide 1: Q1 2015 Investor Presentation
Southern First Bancshares, Inc. Art Seaver – Chief Executive Officer Justin Strickland – President Mike Dowling – Chief Financial Officer Q1 2015 Investor Presentation
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 risks
Slide 3: Overview and Financial Snapshot
•Overview: –Headquartered in Greenville, South Carolina >–15 year old bank >–9 offices in the three largest metropolitan SC markets •Financial snapshot (as of year end 2014) –Total assets: $1 billion –ROAA: .69% (LTM ending 12/31/14) –ROAE: 8.92% –NPA’s: .97% –TCE: 8.06% –Total risk-based capital: 1
Slide 4: Southern First Bank Markets / Footprint
Southern First Bank Markets / Footprint Greenville (opened 2000) – 4 offices Columbia (opened 2007) – 3 offices Charleston (opened 2012) – 2 offices
Slide 5: Southern First Bancshares - SFST Market Valuation
Southern First Bancshares - SFST Market Valuation •SFST – $105 million market capitalization •$16.90 current price (3/2/15) –126% TBV / 15 x LTM EPS •15.2% insider ownership (fully diluted •3 year price performance:
Slide 6: SFST Investment Profile
SFST Investment Profile Growth – organic strength in each market Performance – earnings momentum Model – technology / efficient structure Markets – 3 largest SC markets Leadership – performance driven
Slide 7: Growth / Performance: 2014 financial highlights
Growth / Performance 2014 financial highlights: •Net income (Q4 ‘14) increased 42% to $1.8 million –$.30 per diluted share •Loans increased 19% to $871 million •Core deposits increased 21% to $585 million •Top line revenue (Q4 ‘14) increased 22% to $10.6 million –Net interest income plus noninterest
Slide 8: Growth / Performance: Earnings momentum
Growth / Performance Earnings momentum
Slide 9: Growth / Performance: Core deposits and loans
Growth / Performance Core deposits and loans
Slide 10: Growth / Performance: Strong growth in top line revenue
Growth / Performance Strong growth in top line revenue •Q4 2104 total revenue increased 22% from Q4 2013 •Q4 2104 noninterest income increased 76% from Q4 2 * Net interest income plus noninterest income
Slide 11: Model: Relationship / Technology / Efficiency
Model Relationship / Technology / Efficiency •Talented and experienced local bankers –Relationship teams drive growth and service •Distinctive client experience –Technology enhances the relationship •Efficient structure – only 9 offices >–Efficiency ratio was 64% at year end 2014
Slide 12: Markets – largest in SC
Markets – 3 largest in SC Strong organic growth in deposits and loans Greenville $9 billion deposit market Columbia – (2 counties) $15 billion deposit market Charleston $8 billion deposit market
Slide 13: Leadership Team
Leadership Team: •Extensive experience as relationship bankers •Significant market knowledge and reputation –Art Seaver – Greenville –Justin Strickland – Columbia –Len Howell - Charleston •Focused on performance and building value •Building a unique culture – attracting talent
Slide 14: Balance Sheet Composition
Balance Sheet Composition Diversified lending / focus on core deposits
Slide 15: Q4 2014 Capital Raise
Q4 2014 Capital Raise $18.4 million in net proceeds Existing and new institutional owners • Redeemed remaining $11.4 million preferred stock • TCE = 8.06% Total risk based capital = 12.51% • >Provides capital for continued organic growth
Slide 16: Southern First Bancshares: Growing shareholder value
Southern First Bancshares Growing shareholder value Growth – organic strength in each market Performance – earnings momentum Model – technology / efficient structure Markets – 3 largest SC markets Leadership – performance driven
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