Southstate Bank Corporation · NYSE:SSB
Southstate Bank — South State — Q3 2014 Earnings Presentation
9 slides from Southstate Bank's earnings presentation, Oct 28, 2014
Slide 1: 3rd Quarter 2014 Earnings Call
3rd Quarter 2014 Earnings Call October 28, 2014
Slide 2: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements Statements included in this report which are not historical in nature are intended to be, and are hereby identified as, forward looking statements for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934.
Slide 3: 3rd Quarter Highlights
Record Operating Earnings $24.2 million $1.00 per diluted share Operating ROAA 1.21% Operating Return on Average Tangible Common Equity 17.23% Cash dividend of $0.22 per common share Merger / Branding Cost: $6.8 million Net Income of $19.3 million, $0.80 per diluted share 3rd Quarter Highlights
Slide 4: 3rd Quarter Highlights: Loan Growth and Asset Quality
Annualized Organic Loan Growth of 16.4 % Asset Quality: Improvement Trend Continues Non-Acquired NPAs down $4.5 million Non Interest Income : $ 24.5 million Mortgage Banking $ 4.1 Wealth Management $ 4.5 Negative Accretion $ (4.8) 3rd Quarter Highlights
Slide 5: Interest Earning Assets
Interest Earning Assets Assets 06/30/2014 09/30/2014 Net Change Short-Term Investments $ 410.7 $ 360.5 $ (50.2) Investment Securities 816.7 826.0 9.3 Loans - Acquired 2,494.9 2,357.8 (137.1) Loans - Non-Acquired 3,174.6 3,304.7 130.1 Total Loans $ 5,669.5 $ 5,662.5 $ (7.0) Loans Held for Sale 56.4 7
Slide 6: Net Interest Margin
Net Interest Margin See Endnotes (1)
Slide 7: Efficiency Ratio
Efficiency Ratio See Endnotes (2)
Slide 8: Operating Earnings Per Share
Operating Earnings Per Share Savannah Bancorp Closing: December 13, 2012 Conversion: February 2013 First Financial Holdings Closing: July 26, 2013 Conversion: July 19, 2014 See Endnotes (3)
Slide 9: Endnotes
Income reduced by amortization of Indemnification Asset and average balance increased for the average loan Indemnification Asset balance Efficiency ratio = NIE / Net Int Inc + Non Int Inc less securities gain/(loss) Operating efficiency ratio (exc’l) = same as above except exc’l merger/branding cost