Exhibit 99.1
Southern First Bancshares, Inc. (SFST)
Art Seaver – Chief Executive Officer
Justin Strickland – President
Mike Dowling – Chief Financial Officer
Community Bank Investor Conference
July 31, 2013
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 forwardlooking statements involve certain risks and uncertainties, including a variety of factors (including continued general economic weakness, a further downturn in the economy, lower real estate values, greater than expected non-interest expenses, increased competition, fluctuations in interest rates, regulatory actions, excessive loan losses, and other factors) that may cause Southern First’s actual results to differ materially from the anticipated results expressed or implied in these forward-looking statements. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. Investors are cautioned not to place undue reliance on these forward-looking statements and are advised to review the risk factors that may affect Southern First’s operating results in documents filed by Southern First Bancshares, Inc. with the Securities and Exchange Commission, including the annual report on Form 10-K and other required filings. Southern First assumes no duty to update the forward-looking statements made in this presentation.
Southern First Bank
Corporate Profile (*) June 2013
(**) FDIC data
Headquartered in Greenville S
• $839 million in total assets (*)
• 9th largest bank headquartered in SC
• Greenville SC market – 4 offices
• largest banking market in SC
• #6 market share out of 34 banks (**)
• Columbia SC market – 3 offices
• 2nd largest banking market in SC
• surpassed $145 million in deposits (*)
• 3rd office opened in Q4 2012
Charleston SC market
• 3rd largest banking market in SC
• 1st office opened in Q4 2012
• significant market experience
South Carolina
Greenville
Columbia
Charleston
SFST market valuation:
• SFST – $47 million market capitalization
• $11.05 current price (7/15/13)
– 97% TBV / 13 x LTM EPS
• Ownership
– 32% institutional / 16% insider
SFST – last 12 months
SFST: Investment Profile
Performance
Excellent earnings momentum / asset quality
Model
Proven organic growth / excellent efficiency
Markets
3 largest SC markets / excellent demographics
Leadership
Market experience / performance driven
Performance
Strong earnings momentum – up 88% in Q2 2013
Net Income *
$0.10 $0.15 $0.20 $0.25 $0.30
Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13
$0.13 $0.20 $0.21 $0.18 $0.25 Earnings per share
$250 $500 $750 $1,000 $1,250
Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13
$589 $842 $929 $784 $1,109
* Per common shareholder, diluted
Performance
2nd quarter highlights
• Net income increased 88% to $1.1 million
• Top line revenue growth
– Total revenue up 12% from Q2 2012
• Margin expansion
– 3.70% for Q2 2013 vs. 3.61% in Q2 2012
• Continued loan growth momentum
– Loan balances up 11% from 2012
• Credit costs declining
– $736 thousand in Q2 2013 vs. $1.5 million in Q2 2012
– NPA’s improved to .82%
Model
Proven organic growth / excellent efficiency
$575 $600 $625 $650 $675 $700 $725
Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13
$619 $638 $646 $665 $687
Loan Growth
$400 $425 $450 $475 $500 $525
Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13
$427 $429 $428 $460 $474
Core Deposit Growth
Model
Proven organic growth / excellent efficiency
55% 60% 65% 70% 75% 80%
Southern First SC Banks
67% 78%
Efficiency Ratio
$2 $3 $4 $5 $6 $7 $8
Southern First SC Banks
$6.3 $4.0 Assets / Employee ($ mil)
(1) FDIC March 2013
Markets – 3 largest in SC
Greenville
$10 billion deposit market
Columbia – (2 counties)
$12 billion deposit market
Charleston
$8 billion deposit market
Leadership – market experience
Greenville
Art Seaver, CEO – 26 yrs
Fred Gilmer, EVP – 25 yrs
Mike Dowling, CFO – 18 yrs Columbia
Justin Strickland, Pres – 26 yrs
Charleston
Len Howell, EVP – 20 yrs
SFST: Current Focus
Improve core earnings strength
Expand mortgage income / lower credit costs
Execute growth strategies
Organic markets / Charleston expansion
Monitor our capital plan
Growth / BASEL compliance / Preferred shares
Strengthen infrastructure
Service & technology / risk management
Southern First Bancshares
Focused on shareholder value
South Carolina
Greenville
Columbia
Charleston
Performance
Earnings momentum
Model
Organic growth
Markets
Three largest markets in SC
Leadership
Focused on delivering value
