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SCBT Reports Operating Results for 1Q 2013 of $0.71 per share; Declares Quarterly Cash Dividend



  SCBT Reports Operating Results for 1Q 2013 of $0.71 per share; Declares
  Quarterly Cash Dividend

Business Wire

COLUMBIA, S.C. -- April 26, 2013

SCBT Financial Corporation (NASDAQ: SCBT), the holding company for SCBT, today
released its unaudited results of operations and other financial information
for the three-month period ended March 31, 2013. Highlights of the first
quarter 2013 include:

  * Net income of $10.6 million, or $0.63 diluted EPS in 1Q 2013 compared to
    $5.9 million, or $0.38 diluted EPS in 4Q 2012 and $7.0 million, or $0.50
    diluted EPS, in 1Q 2012;
  * Operating earnings, which excludes merger-related expense and securities
    gains or losses, of $12.0 million, or $0.71 diluted EPS in 1Q 2013
    compared to $11.1 million, or $0.72 diluted EPS in 4Q 2012 and $7.1
    million, or $0.51 diluted EPS in 1Q 2012;
  * Completed the Savannah Bancorp, Inc. (“Savannah”) system conversion and
    integration;
  * Core deposit growth, excluding CDs and the Peoples and Savannah
    acquisitions, up $32.8 million in 1Q 2013, or 5.2% annualized growth;
  * Non-interest bearing deposits exceeded $1.0 billion;
  * Return on average assets was 0.84% annualized in 1Q 2013 compared to 0.52%
    in 4Q 2012 and 0.71% in 1Q 2012;
  * Operating efficiency ratio was 64.5% in 1Q 2013 compared to 62.8% in 4Q
    2012 and compared to 66.3% in 1Q 2012;
  * Net charge-offs of non-acquired loans decreased to 0.56% annualized for 1Q
    ^  2013, compared to 0.64% annualized for 4Q 2012 and 0.66% annualized for
    1Q 2012;
  * Non-performing Assets (NPAs): 1.49% of total assets for 1Q 2013 compared
    to 1.58% for 4Q 2012 and 2.26% for 1Q 2012; 2.91% of loans and repossessed
    assets, excluding acquired assets, for 1Q 2013 compared to 3.13% for 4Q
    2012 and 3.72% for 1Q 2012; and
  * Legacy loan growth for 1Q 2013 was $33.3 million or 5.2% annualized.

Quarterly Cash Dividend

The Board of Directors of SCBT has declared a quarterly cash dividend of $0.18
per share payable on its common stock. This per share amount is equal to the
dividend paid in the immediately preceding quarter and is $0.01 per share, or
5.9%, higher than a year ago. The dividend will be payable on May 24, 2013 to
shareholders of record as of May 17, 2013.

First Quarter 2013 Financial Performance

Please refer to the accompanying tables for detailed comparative data on
results of operations and financial results.

The Company reported consolidated net income of $10.6 million, or $0.63 per
diluted share, for the three months ended March 31, 2013 compared to
consolidated net income of $5.9 million, or $0.38 per diluted share, for the
fourth quarter of 2012. This $4.7 million increase was primarily the net
result of improved net interest income, reduced provision for loan losses, and
a reduction in merger-related expenses. The increases were offset by
non-interest expense increases which are primarily due to salary and benefits
expense increases.

“I am encouraged that our earnings continue to improve each quarter. We had
solid performance this quarter and also experienced some impact from the
conversion and integration of Savannah, as well as some seasonality in
non-interest income,” said Robert R. Hill, Jr., president and CEO. “Our legacy
loan growth continued at a nice pace of 5.2% annualized, and our non-interest
demand deposits now exceed $1.0 billion. We also enjoyed strong growth in our
wealth management area and bank card revenue, but experienced lower deposit
service charge income and mortgage banking income due to seasonality. Our
operating performance remained steady compared to the prior quarter with an
operating return on average assets of 0.95% and operating return on equity of
9.49%. With the integration of Savannah, continued credit improvement in our
acquired and non-acquired loan portfolios, and the announcement of the merger
with First Financial Holdings, we remain very optimistic about the
opportunities for continued improvement in our performance."

Asset Quality

During the first quarter of 2013, SCBT continued to experience improvement in
asset quality, excluding acquired loans and OREO, as nonperforming loans
declined by $5.3 million, or 8.6%, and classified assets declined by $2.3
million, or 1.6% from the fourth quarter of 2012. We continue to see
meaningful improvement in the trailing average of historical loan losses as
the high charge-off quarters from prior periods are being replaced with much
lower current loss rates. Nonperforming assets to total assets declined to
1.49% primarily due to the decrease in non-acquired nonaccrual loans. NPAs,
excluding acquired NPAs, declined by $4.7 million from the fourth quarter 2012
level. Improvements in asset quality continue as we experience improvement in
housing starts (permits), home sales, and lower unemployment rates.

At March 31, 2013, the allowance for non-acquired loan losses was $41.7
million, or 1.60% of non-acquired period-end loans. The current allowance for
loan losses provides 0.73 times coverage of period-end non-acquired
nonperforming loans. Net charge-offs within the non-acquired loan portfolio
decreased to $3.6 million, or 0.56% annualized from $4.1 million, or 0.64%
annualized in the fourth quarter of 2012, and from $4.1 million, or 0.66%
annualized in the first quarter of 2012.

Non-acquired other real estate owned (“OREO”) increased modestly by $611,000
from the fourth quarter of 2012 and decreased by $1.7 million from the first
quarter of 2012. During the first quarter, the Company recorded write-downs on
23 properties totaling $1.1 million; sold $2.0 million of non-acquired OREO
for a net $7,000 gain; and added 19 properties for a total of $3.6 million.

Net Interest Income and Margin

Non-taxable equivalent net interest income was $53.8 million for the first
quarter of 2013, a $5.9 million increase from the fourth quarter 2012,
resulting from the following:

1. Higher balance of average acquired loans (up $414.3 million) along with
credit releases totaling $6.6 million resulted in an increase of $6.7 million
of interest income on acquired loans; partially offset by

2. A decrease of 15 basis points in the yield on non-acquired loans which
resulted in a decrease of $958,000 of interest income on non-acquired loans,
with $616,000 related to the fewer days (90 vs. 92) in the first quarter
compared to the fourth quarter of 2012.

Taxable-equivalent net interest margin increased 24 basis points from the
first quarter of 2012 and 6 basis points from the fourth quarter of 2012 to
4.94%. The average yield on interest earning assets increased 3 basis points
while the average rate on interest-bearing liabilities declined 18 basis
points from the first quarter of 2012. During the first quarter of 2013,
average total assets increased to $5.1 billion and average earning assets
increased to almost $4.5 billion. This growth in average total assets was
supported by growth in average total deposits to $4.2 billion. At March 31,
2013, non-interest bearing deposits exceeded $1.0 billion.

Noninterest Income and Expense

Noninterest income was relatively flat for the first quarter of 2013 compared
to the first quarter of 2012. Increases in all noninterest income categories
(excluding negative accretion on the indemnification asset) totaling $4.0
million were offset by the $3.9 million increase in the negative accretion on
the FDIC indemnification asset. The negative accretion results from the
reduction of expected cash flows of this asset related to certain pools of
acquired loans which had improved estimated cash flows, and is being
recognized over the shorter of the underlying assets remaining life or
remaining term of the loss share agreements.

Compared to the fourth quarter of 2012, noninterest income was down a total of
$1.2 million, excluding securities gains (losses). This decrease was the
result of the following: (1) mortgage banking income decreased $819,000 due to
fewer loans sold and reduced pipeline of mortgage loans; (2) service charges
on deposit accounts were down $552,000 due to seasonality; and (3) the
negative accretion on the FDIC indemnification asset increased by $624,000.
Partially offsetting these decreases were increases of $570,000 in trust and
investment services income and $228,000 in bankcard services income.

Noninterest expense was $46.4 million in the first quarter of 2013, a 31.9% or
$11.2 million increase from $35.2 million in the first quarter of 2012. This
increase was driven primarily by increased merger-related charges from the
Savannah merger of $1.7 million and from the proposed First Financial merger
of $300,000, and an increase in salaries and benefits of $5.2 million, or
28.8%. The increase in salaries and employee benefits resulted primarily from
the impact of a full quarter of the addition of new FTEs largely related to
the two acquisitions completed during 2012.

Compared to the fourth quarter of 2012, noninterest expense decreased by $1.7
million. The decrease resulted from a $5.6 million decline in merger-related
expenses. This decline was partially offset by increases in most other
noninterest expense categories from the full quarter impact of Savannah.

Balance Sheet and Capital

At March 31, 2013, SCBT’s total assets were $5.1 billion, up from $4.0 billion
at March 31, 2012, and relatively flat from $5.1 billion at December 31, 2012.
Since March 31, 2012, the company’s balance sheet has grown by almost $1.1
billion, or 27.1%, due primarily to closing of the Peoples Bancorporation,
Inc. and The Savannah Bancorp, Inc. acquisitions. The asset growth was spread
among increases in investment securities, acquired loans, non-acquired loans,
premises and equipment, bank owned life insurance, and intangibles; and these
were offset by declines in OREO of $12.5 million and decreases in FDIC
receivables of $107.0 million. The asset growth was supported primarily by
$698.9 million in core deposit growth, $93.3 million in correspondent bank
federal funds purchased and $127.7 million in additional capital.

The Company’s book value per share increased to $30.22 per share at March 31,
2013, compared to $29.97 at December 31, 2012. Capital increased by $6.7
million due primarily to net income of $10.6 million partially offset by $3.1
million in dividends paid to our shareholders. Tangible book value (“TBV”) per
share increased by $0.35 per share to $22.89 at March 31, 2013 from $22.54 at
December 31, 2012 due to the capital increases described above.

The total risk-based capital ratio is estimated to have increased by 40 basis
points from the fourth quarter of 2012 to 14.3%, due primarily to a change in
risk-weighted asset mix relative to the increase in capital. Tier 1 leverage
ratio decreased to 8.8% from 9.8% at December 31, 2012. The decline is driven
by an almost $600.0 million increase in average total assets due to including
a full quarter of Savannah assets in the average balance. The Company’s
capital positions remain “well-capitalized” by all measures at March 31, 2013.

“Our net interest income remains strong with an increase of $5.9 million
compared to last quarter, primarily the result of the addition of the Savannah
acquired loan portfolio for the whole quarter,” said John C. Pollok, CFO and
COO. “With the conversion of Savannah now completed, we are now planning the
merger with First Financial over the next several months.”

                               ***************

SCBT Financial Corporation (the “Company”), Columbia, South Carolina is a
registered bank holding company incorporated under the laws of South Carolina.
The Company consists of SCBT, the Bank and the following divisions: NCBT, CBT,
The Savannah Bank, and Minis & Co., Inc. Providing financial services for over
78 years, SCBT Financial Corporation operates 81 locations in 19 South
Carolina counties, 10 North Georgia counties, 2 Coastal Georgia counties and
Mecklenburg County in North Carolina. SCBT Financial Corporation has assets of
approximately $5.1 billion and its stock is traded under the symbol SCBT in
the NASDAQ Global Select Market. More information can be found at
www.SCBTonline.com.

                                    -----

SCBT Financial Corporation will hold a conference call on Friday, April 26^th
at 11 a.m. Eastern Time where management will review earnings and performance
trends. Callers wishing to participate may call toll-free by dialing
866-652-5200. The number for international participants is 412-317-6060. The
conference ID number is 10026988. Participants can also listen to the live
audio webcast through the Investor Relations section of www.SCBTonline.com. A
replay will be available beginning April 26^th by 2:00 pm Eastern Time until
9:00 a.m. on May 13^th. To listen to the replay, dial 877-344-7529 or
412-317-0088. The passcode is 10026988.

Non-GAAP Measures

Statements included in this press release include non-GAAP measures and should
be read along with the accompanying tables which provide a reconciliation of
non-GAAP measures to GAAP measures. Management believes that these non-GAAP
measures provide additional useful information. Non-GAAP measures should not
be considered as an alternative to any measure of performance or financial
condition as promulgated under GAAP, and investors should consider the
company's performance and financial condition as reported under GAAP and all
other relevant information when assessing the performance or financial
condition of the company. Non-GAAP measures have limitations as analytical
tools, and investors should not consider them in isolation or as a substitute
for analysis of the company's results or financial condition as reported under
GAAP.

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. Forward looking statements generally include words such as
“expects,” “projects,” “anticipates,” “believes,” “intends,” “estimates,”
“strategy,” “plan,” “potential,” “possible” and other similar expressions. The
Company cautions readers that forward looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from forecasted results. Such risks and uncertainties, include,
among others, the following possibilities: (1) the occurrence of any event,
change or other circumstances that could give rise to the termination of the
definitive merger agreement between the Company and First Financial Holdings,
Inc. (“First Financial”); (2) the outcome of any legal proceedings that may be
instituted against the Company or First Financial; (3) the inability to
complete the transactions contemplated by the Merger Agreement due to the
failure to satisfy each transaction’s respective conditions to completion,
including the receipt of regulatory approval; (4) credit risk associated with
an obligor’s failure to meet the terms of any contract with the bank or
otherwise fail to perform as agreed; (5) interest risk involving the effect of
a change in interest rates on both the bank’s earnings and the market value of
the portfolio equity; (6) liquidity risk affecting the bank’s ability to meet
its obligations when they come due; (7) price risk focusing on changes in
market factors that may affect the value of traded instruments in
“mark-to-market” portfolios; (8) transaction risk arising from problems with
service or product delivery; (9) compliance risk involving risk to earnings or
capital resulting from violations of or nonconformance with laws, rules,
regulations, prescribed practices, or ethical standards; (10) strategic risk
resulting from adverse business decisions or improper implementation of
business decisions; (11) reputation risk that adversely affects earnings or
capital arising from negative public opinion; (12) terrorist activities risk
that results in loss of consumer confidence and economic disruptions; (13)
cybersecurity risk related to our dependence on internal computer systems and
the technology of outside service providers, as well as the potential impacts
of third-party security breaches, subjects the company to potential business
disruptions or financial losses resulting from deliberate attacks or
unintentional events; (14) economic downturn risk resulting in deterioration
in the credit markets; (15) greater than expected noninterest expenses; (16)
excessive loan losses; (17) failure to realize synergies and other financial
benefits from, and to limit liabilities associates with, mergers and
acquisitions, including mergers with Peoples Bancorporation (“Peoples”), The
Savannah Bancorp, Inc. (“Savannah”), and First Financial, within the expected
time frame; (18) potential deposit attrition, higher than expected costs,
customer loss and business disruption associated with the integration of
Savannah and First Financial, including, without limitation, potential
difficulties in maintaining relationships with key personnel and other
integration related-matters; (19) the risks of fluctuations in market prices
for Company Common Stock that may or may not reflect economic condition or
performance of the Company; (20) the payment of dividends on Company Common
Stock is subject to regulatory supervision as well as the discretion of the
board of directors of the Company; and (21) other factors, which could cause
actual results to differ materially from future results expressed or implied
by such forward looking statements.

SCBT Financial Corporation
(Unaudited)
(Dollars in thousands, except per share data)
                                                                                      
                                                                                                       First
                    Three Months Ended                                                                 Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
EARNINGS SUMMARY
(non tax            2013             2012            2012             2012             2012            % Change
equivalent)
Interest income     $ 56,169         $ 50,263        $ 49,535         $ 45,470         $ 42,220        33.0     %
Interest expense      2,368            2,351           2,625            2,936            3,182         -25.6    %
Net interest income   53,801           47,912          46,910           42,534           39,038        37.8     %
Provision for loan    1,060            2,211           4,044            4,641            2,723         -61.1    %
losses (1)
Noninterest income    9,523            10,900          9,166            11,744           9,473         0.5      %
Noninterest expense   46,441           48,139          38,031           37,509           35,219        31.9     %
Income before
provision for         15,823           8,462           14,001           12,128           10,569        49.7     %
income taxes
Provision for         5,174            2,552           4,938            4,097            3,541         46.1     %
income taxes
Net income          $ 10,649         $ 5,910         $ 9,063          $ 8,031          $ 7,028         51.5     %
                                                                                                        
Effective tax rate    32.70      %     30.16      %    35.27      %     33.78      %     33.50      %
                                                                                                        
Basic
weighted-average      16,769,049       15,320,472      14,920,423       14,650,914       13,882,801    20.8     %
common shares
Diluted
weighted-average      16,935,601       15,446,778      15,043,067       14,733,325       13,951,290    21.4     %
common shares
                                                                                                        
Earnings per share  $ 0.64           $ 0.39          $ 0.61           $ 0.55           $ 0.51          25.5     %
- Basic
Earnings per share    0.63             0.38            0.60             0.55             0.50          26.0     %
- Diluted
                                                                                                        
Cash dividends      $ 0.18           $ 0.18          $ 0.17           $ 0.17           $ 0.17          5.9      %
declared per share
Dividend payout       28.75      %     46.06      %    28.34      %     31.93      %     34.00      %  -15.4    %
ratio (2)
                                                                                                        
Operating Earnings
(non-GAAP) (3)
Net income (GAAP)   $ 10,649         $ 5,910         $ 9,063          $ 8,031          $ 7,028         51.5     %
Securities (gains)    --               (89        )    --               (40        )     --
losses, net of tax
Merger and
conversion related    1,321            5,274           357              1,323            65            1937.6   %
expense, net of tax
Net operating
earnings (loss)     $ 11,970         $ 11,095        $ 9,420          $ 9,314          $ 7,093         68.8     %
(non-GAAP)
                                                                                                        
Operating earnings
(loss) per share -  $ 0.71           $ 0.72          $ 0.63           $ 0.64           $ 0.51          39.2     %
Basic
Operating earnings
(loss) per share -    0.71             0.72            0.63             0.63             0.51          39.2     %
Diluted
                                                                                                        
                                                                                                       First
                    AVERAGE for Quarter Ended                                                          Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
BALANCE SHEET       2013             2012            2012             2012             2012            % Change
HIGHLIGHTS
Loans held for sale $ 51,216         $ 60,183        $ 56,300         $ 29,604         $ 34,073        50.3     %
Acquired loans, net
of allowance for      997,010          582,726         501,214          484,084          357,668       178.8    %
acquired loan
losses
Non-acquired loans    2,576,545        2,528,753       2,497,478        2,456,069        2,456,080     4.9      %
Total loans (1)       3,573,555        3,111,479       2,998,692        2,940,153        2,813,748     27.0     %
FDIC receivable for
loss share            139,172          162,580         194,116          219,183          246,556       -43.6    %
agreements
Total investment      553,214          510,434         501,816          468,334          324,473       70.5     %
securities
Intangible assets     125,257          87,372          79,857           79,583           74,089        69.1     %
Earning assets        4,489,187        3,972,280       3,766,889        3,703,552        3,371,705     33.1     %
Total assets          5,117,003        4,517,076       4,331,436        4,295,911        3,957,918     29.3     %
Noninterest-bearing   969,400          886,240         813,394          795,867          700,438       38.4     %
deposits
Interest-bearing      3,236,610        2,853,253       2,800,446        2,808,884        2,570,595     25.9     %
deposits
Total deposits        4,206,010        3,739,493       3,613,840        3,604,751        3,271,033     28.6     %
Federal funds
purchased and         319,602          247,970         223,844          215,678          229,099       39.5     %
repurchase
agreements
Other borrowings      54,713           47,555          45,908           46,203           46,480        17.7     %
Shareholders'         511,392          450,446         429,183          415,952          383,377       33.4     %
equity
                                                                                                        
                                                                                                        
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands, except per share data)
                                                                                                       First
                    ENDING Balance                                                                     Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
BALANCE SHEET       2013             2012            2012             2012             2012            % Change
HIGHLIGHTS
Loans held for sale $ 50,449         $ 65,279        $ 71,585         $ 42,525         $ 34,706        45.4     %
Acquired loans        995,255          1,074,742       520,991          560,058          369,144       169.6    %
Non-acquired loans    2,604,298        2,571,003       2,517,352        2,481,251        2,437,314     6.9      %
Total loans (1)       3,599,553        3,645,745       3,038,343        3,041,309        2,806,458     28.3     %
FDIC receivable for
loss share            124,340          146,171         174,321          200,569          231,331       -46.3    %
agreements
Total investment      533,255          560,091         500,587          511,138          357,448       49.2     %
securities
Intangible assets     124,668          125,801         79,391           79,971           73,926        68.6     %
Allowance for
acquired loan         (31,277    )     (32,132    )    (31,138    )     (35,813    )     (34,355    )  -9.0     %
losses
Allowance for
non-acquired loan     (41,669    )     (44,378    )    (46,439    )     (47,269    )     (47,607    )  -12.5    %
losses (1)
Premises and          110,792          115,583         105,579          106,458          93,209        18.9     %
equipment
Total assets          5,141,929        5,136,446       4,325,232        4,373,269        4,046,343     27.1     %
Noninterest-bearing   1,002,662        981,963         818,633          806,235          757,777       32.3     %
deposits
Interest-bearing      3,216,694        3,316,397       2,770,665        2,854,737        2,598,860     23.8     %
deposits
Total deposits        4,219,356        4,298,360       3,589,298        3,660,972        3,356,637     25.7     %
Federal funds
purchased and         328,701          238,621         226,330          220,264          235,412       39.6     %
repurchase
agreements
Other borrowings      54,638           54,897          45,807           46,105           46,397        17.8     %
Total liabilities     4,627,718        4,628,897       3,891,308        3,948,363        3,659,836     26.4     %
Shareholders'         514,211          507,549         433,924          424,906          386,507       33.0     %
equity
                                                                                                        
Common shares
issued and            17,017,904       16,937,464      15,114,185       15,085,991       14,052,177    21.1     %
outstanding
                                                                                                        
                                                                                                       First
                                                                                                       Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
NONPERFORMING
ASSETS (ENDING      2013             2012            2012             2012             2012            % Change
BALANCE)
Non-acquired
Non-acquired        $ 42,945         $ 48,387        $ 46,295         $ 47,940         $ 59,278        -27.6    %
nonaccrual loans
Restructured loans    13,636           13,151          12,882           9,530            10,578        28.9     %
Other real estate owned ("OREO")
not covered under
FDIC loss share       19,680           19,069          22,424           25,518           21,381        -8.0     %
agreements
Accruing loans past   121              500             156              137              130           -6.9     %
due 90 days or more
Other nonperforming   --               --              --               --               24            -100.0   %
assets
Total non-acquired
nonperforming         76,382           81,107          81,757           83,125           91,391        -16.4    %
assets
Acquired (7)
Acquired nonaccrual   --               --              --               --               --
loans
OREO covered under
FDIC loss share       34,244           34,257          47,063           53,146           61,788        -44.6    %
agreements
OREO not covered
under FDIC loss       16,766           13,179          5,059            5,745            --
share agreements
Other nonperforming   26               44              57               73               215         
assets
Total acquired
nonperforming         51,036           47,480          52,179           58,964           62,003        -17.7    %
assets
Total nonperforming $ 127,418        $ 128,587       $ 133,936        $ 142,089        $ 153,394       -16.9    %
assets
                                                                                                        
Excluding Acquired
Assets
Total nonperforming assets as a
percentage of
total non-acquired
loans and             2.91       %     3.13       %    3.22       %     3.32       %     3.72       %
repossessed assets
(1) (4)
Total nonperforming assets as a
percentage
of total assets (5)   1.49       %     1.58       %    1.89       %     1.90       %     2.26       %
NPLs as a
percentage of         2.18       %     2.41       %    2.36       %     2.32       %     2.87       %
period end
non-acquired loans
Including Acquired
Assets
Total nonperforming assets as a
percentage of
total loans and
repossessed assets    3.47       %     3.46       %    4.31       %     4.55       %     5.31       %
(1) (4)
Total nonperforming assets as a
percentage
of total assets       2.48       %     2.50       %    3.10       %     3.25       %     3.79       %
NPLs as a
percentage of         1.58       %     1.70       %    1.95       %     1.89       %     2.49       %
period end loans
                                                                                                        
OTHER ASSET QUALITY
INFORMATION
Classified Assets
(Ending Balance)
(11)
Classified loans    $ 121,222        $ 124,133       $ 135,095        $ 135,099        $ 156,118       -22.4    %
OREO and other
nonperforming         19,680           19,069          22,424           25,518           21,405        -8.1     %
assets
Total classified    $ 140,902        $ 143,202       $ 157,519        $ 160,617        $ 177,523       -20.6    %
assets
                                                                                                        
Tier 1 capital and
non-acquired        $ 484,744        $ 477,686       $ 444,200        $ 436,964        $ 406,070       19.4     %
allowance for loan
losses
Classified assets as a percentage
of Tier 1 capital and
non-acquired
allowance for loan    29.07      %     29.98      %    35.46      %     36.76      %     43.72      %
losses
                                                                                                        
Non-acquired Loans  $ 7,199          $ 7,189         $ 9,270          $ 10,464         $ 7,290         -1.3     %
30-89 Day Past Due
                                                                                                        
                                                                                                        
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                                       First
                    Quarter Ended                                                                      Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
ALLOWANCE FOR LOAN  2013             2012            2012             2012             2012            % Change
LOSSES (1)
Non-acquired Loans:
Balance at          $ 44,378         $ 46,439        $ 47,269         $ 47,607         $ 49,367        -10.1    %
beginning of period
Loans charged off     (4,148     )     (4,291     )    (5,506     )     (5,114     )     (5,344     )  -22.4    %
Overdrafts charged    (459       )     (446       )    (434       )     (441       )     (354       )  29.7     %
off
Loan recoveries       826              550             481              700              1,424         -42.0    %
Overdraft             219              131             129              125              216           1.4      %
recoveries
Net charge-offs       (3,562     )     (4,056     )    (5,330     )     (4,730     )     (4,058     )  -12.2    %
Provision for loan
losses on             853              1,995           4,500            4,392            2,298         -62.9    %
non-acquired loans
Balance at end of
period,               41,669           44,378          46,439           47,269           47,607        -12.5    %
non-acquired loans
Acquired Loans:
Balance at            32,132           31,138          35,812           34,355           31,620
beginning of period
Loans charged off     --               --              --               --               --
Loan recoveries       --               --              --               --               --          
Net charge-offs       --               --              --               --               --
Provision for loan losses on
acquired loans:
Provision for loan losses before
benefit attributable
to FDIC loss share    (855       )     994             (4,674     )     1,457            2,735
agreements
Benefit
attributable to       1,062            (778       )    4,218            (1,208     )     (2,310     )
FDIC loss share
agreements
Net provision for
loan losses on        207              216             (456       )     249              425         
acquired loans
Provision for loan losses recorded
through the FDIC
loss share            (1,062     )     778             (4,218     )     1,208            2,310       
receivable
Balance at end of
period, acquired      31,277           32,132          31,138           35,812           34,355      
loans
Balance at end of
period, total       $ 72,946         $ 76,510        $ 77,577         $ 83,081         $ 81,962        -11.0    %
allowance for loan
losses
                                                                                                        
Total provision for
loan losses charged $ 1,060          $ 2,211         $ 4,044          $ 4,641          $ 2,723       
to operations
Allowance for non-acquired loan
losses as a
percentage of
non-acquired loans    1.60       %     1.73       %    1.84       %     1.91       %     1.95       %
(1)
Allowance for loan
losses as a
percentage of total   2.03       %     2.10       %    2.55       %     2.73       %     2.92       %
loans (1)
Allowance for non-acquired loan
losses as a
percentage of
non-acquired          73.49      %     71.53      %    78.27      %     82.05      %     68.02      %
nonperforming loans
Net charge-offs on non-acquired loans as a
percentage of
average
non-acquired loans    0.56       %     0.64       %    0.85       %     0.77       %     0.66       %
(annualized) (1)
                                                                                                        
                                                                                                       First
                                                                                                       Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
LOAN PORTFOLIO
(ENDING balance)    2013             2012            2012             2012             2012            % Change
(1)
Acquired covered    $ 257,066        $ 282,728       $ 309,034        $ 332,874        $ 363,051       -29.2    %
loans
Acquired              738,189          792,014         211,957          227,184          6,093         12015.4  %
non-covered loans
Non-acquired loans:
Commercial non-owner occupied real
estate:
Construction and      273,488          273,420         273,606          279,519          294,865       -7.2     %
land development
Commercial            298,707          290,071         278,935          284,147          284,044       5.2      %
non-owner occupied
Total commercial
non-owner occupied    572,195          563,491         552,541          563,666          578,909       -1.2     %
real estate
Consumer real
estate:
Consumer owner        443,134          434,503         430,825          420,298          407,697       8.7      %
occupied
Home equity loans     249,356          255,284         255,677          257,061          258,054       -3.4     %
Total consumer real   692,490          689,787         686,502          677,359          665,751       4.0      %
estate
Commercial owner
occupied real         796,139          784,152         787,623          763,338          744,441       6.9      %
estate
Commercial and        291,308          279,763         245,285          228,010          216,083       34.8     %
industrial
Other income          131,776          133,713         131,832          132,193          130,177       1.2      %
producing property
Consumer non real     93,997           86,934          86,729           87,290           85,350        10.1     %
estate
Other                 26,393           33,163          26,840           29,395           16,603        59.0     %
Total non-acquired    2,604,298        2,571,003       2,517,352        2,481,251        2,437,314     6.9      %
loans
Total loans (net of
unearned income)    $ 3,599,553      $ 3,645,745     $ 3,038,343      $ 3,041,309      $ 2,806,458     28.3     %
(1)
                                                                                                        
Loans held for sale $ 50,449         $ 65,279        $ 71,585         $ 42,525         $ 34,706        45.4     %
                                                                                                        
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands, except per share data)
                                                                                                        
                                                                                                        
                    Quarter Ended
                    March 31,        December 31,    September 30,    June 30,         March 31,
SELECTED RATIOS     2013             2012            2012             2012             2012
                                                                                                        
Return on average     0.84       %     0.52       %    0.83       %     0.75       %     0.71       %
assets (annualized)
                                                                                                        
Operating return on
average assets        0.95       %     0.98       %    0.87       %     0.88       %     0.72       %
(annualized)
(non-GAAP) (3)
                                                                                                        
Return on average     8.45       %     5.22       %    8.40       %     7.77       %     7.37       %
equity (annualized)
                                                                                                        
Operating return on
average equity        9.49       %     9.80       %    8.73       %     9.05       %     7.44       %
(annualized)
(non-GAAP) (3)
                                                                                                        
Return on average
tangible equity       11.92      %     6.91       %    10.74      %     9.92       %     9.57       %
(annualized)
(non-GAAP) (10)
                                                                                                        
Net interest margin   4.94       %     4.88       %    5.03       %     4.69       %     4.70       %
(tax equivalent)
                                                                                                        
Efficiency ratio      72.37      %     80.95      %    66.91      %     68.34      %     72.02      %
(tax equivalent)
                                                                                                        
Operating
efficiency ratio      64.47      %     62.84      %    58.96      %     60.84      %     66.27      %
excluding OREO
expense
                                                                                                        
Book value per      $ 30.22          $ 29.97         $ 28.71          $ 28.17          $ 27.51       
common share
                                                                                                        
Tangible book value
per common share    $ 22.89          $ 22.54         $ 23.46          $ 22.86          $ 22.24       
(non-GAAP) (10)
                                                                                                        
Common shares
issued and            17,017,904       16,937,464      15,114,185       15,085,991       14,052,177  
outstanding
                                                                                                        
Equity-to-assets      10.00      %     9.88       %    10.03      %     9.72       %     9.55       %
                                                                                                        
Tangible
equity-to-tangible    7.76       %     7.62       %    8.35       %     8.03       %     7.87       %
assets (non-GAAP)
(10)
                                                                                                        
Tier 1 leverage (9)   8.8        %     9.8        %    9.3        %     9.2        %     9.2        %
                                                                                                        
Tier 1 risk-based     13.1       %     12.7       %    14.0       %     13.9       %     14.5       %
capital (9)
                                                                                                        
Total risk-based      14.3       %     13.9       %    15.2       %     15.1       %     15.8       %
capital (9)
                                                                                                        
                                                                                                        
                    Quarter Ended
                    March 31,        December 31,    September 30,    June 30,         March 31,
RECONCILIATION OF   2013             2012            2012             2012             2012
NON-GAAP TO GAAP
                                                                                                        
Pre-tax, Pre-provision Operating
Earnings (6)
Net income (GAAP)   $ 10,649         $ 5,910         $ 9,063          $ 8,031          $ 7,028         51.5     %
Provision for loan    1,060            2,211           4,044            4,641            2,723         -61.1    %
losses (1)
Provision for         5,174            2,552           4,938            4,097            3,541         46.1     %
income taxes
Pre-tax,
pre-provision         16,883           10,673          18,045           16,769           13,292        27.0     %
income
Securities gains      --               (128       )    --               (61        )     --
Merger and
conversion related    1,963            7,552           568              1,998            96          
expense
Pre-tax,
pre-provision       $ 18,846         $ 18,097        $ 18,613         $ 18,706         $ 13,388        40.8     %
operating earnings
(non-GAAP)
                                                                                                        
Operating efficiency ratio
excluding OREO expense
Operating
efficiency ratio      64.47      %     62.84      %    58.96      %     60.84      %     66.27      %
excluding OREO
expense
Effect to adjust
for OREO and loan     4.84       %     5.41       %    6.95       %     3.86       %     5.56       %
related expense
Effect to adjust
for merger and        2.80       %     12.70      %    1.00       %     3.64       %     0.19       %
conversion expenses
Efficiency ratio      72.37      %     80.95      %    66.91      %     68.34      %     72.02      %
(Tax Equivalent)
                                                                                                        
Operating Return of
Average Assets (3)
Operating return on
average assets        0.95       %     0.98       %    0.87       %     0.88       %     0.72       %
(non-GAAP)
Effect to adjust
for securities        0.00       %     0.01       %    0.00       %     0.00       %     0.00       %
gains (losses)
Effect to adjust
for merger and        -0.11      %     -0.47      %    -0.04      %     -0.13      %     -0.01      %
conversion related
expenses
Return on average     0.84       %     0.52       %    0.83       %     0.75       %     0.71       %
assets (GAAP)
                                                                                                        
Operating Return of
Average Equity (3)
Operating return on
average equity        9.49       %     9.80       %    8.73       %     9.05       %     7.44       %
(non-GAAP)
Effect to adjust
for securities        0.00       %     0.08       %    0.00       %     0.04       %     0.00       %
gains (losses)
Effect to adjust
for merger and        -1.04      %     -4.66      %    -0.33      %     -1.32      %     -0.07      %
conversion related
expenses
Return on average     8.45       %     5.22       %    8.40       %     7.77       %     7.37       %
equity (GAAP)
                                                                                                        
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                                        
                    Quarter Ended
                    March 31,        December 31,    September 30,    June 30,         March 31,
RECONCILIATION OF
NON-GAAP TO GAAP    2013             2012            2012             2012             2012
(CONTINUED)
                                                                                                        
Return on Average
Tangible Equity
(10)
Return on average
tangible equity       11.92      %     6.91       %    10.74      %     9.92       %     9.57       %
(non-GAAP)
Effect to adjust
for intangible        -3.47      %     -1.69      %    -2.34      %     -2.15      %     -2.20      %
assets
Return on average     8.45       %     5.22       %    8.40       %     7.77       %     7.37       %
equity (GAAP)
                                                                                                        
Tangible Book Value Per Common
Share (10)
Tangible book value
per common share    $ 22.89          $ 22.54         $ 23.46          $ 22.86          $ 22.24
(non-GAAP)
Effect to adjust
for intangible        7.33             7.43            5.25             5.30             5.26        
assets
Book value per      $ 30.22          $ 29.97         $ 28.71          $ 28.17          $ 27.51       
common share (GAAP)
                                                                                                        
Tangible
Equity-to-Tangible
Assets (10)
Tangible
equity-to-tangible    7.76       %     7.62       %    8.35       %     8.03       %     7.87       %
assets (non-GAAP)
Effect to adjust
for intangible        2.24       %     2.26       %    1.68       %     1.69       %     1.68       %
assets
Equity-to-assets      10.00      %     9.88       %    10.03      %     9.72       %     9.55       %
(GAAP)
                                                                                                        
                                                                                                        
                    Three Months Ended
                    March 31, 2013                                    March 31, 2012
                    Average          Interest        Average          Average          Interest        Average
YIELD ANALYSIS      Balance          Earned/Paid     Yield/Rate       Balance          Earned/Paid     Yield/Rate
                                                                                                        
Interest-Earning
Assets:
Federal funds sold,
reverse repo, and   $ 311,202        $ 418             0.54       %     199,410        $ 212           0.43     %
time deposits
Investment
securities            394,917          2,161           2.22       %     263,037          1,691         2.59     %
(taxable)
Investment
securities            158,297          1,206           3.09       %     61,436           540           3.54     %
(tax-exempt)
Loans held for sale   51,216           382             3.02       %     34,073           322           3.80     %
Acquired loans, net
of allowance for      997,010          23,370          9.51       %     357,668          9,110         10.24    %
acquired loan
losses
Non-acquired loans    2,576,544        28,632          4.51       %     2,456,080        30,345        4.97     %
(1)
Total
interest-earning      4,489,186        56,169          5.07       %     3,371,704        42,220        5.04     %
assets
                                                                                                        
Noninterest-Earning
Assets:
Cash and due from     120,005                                           92,208
banks
Other assets          552,148                                           543,323
Allowance for
non-acquired loan     (44,336    )                                      (49,317    )
losses
Total
noninterest-earning   627,817                                           586,214     
assets
Total Assets        $ 5,117,003                                       $ 3,957,918   
                                                                                                        
Interest-Bearing
Liabilities:
Transaction and
money market        $ 1,852,399      $ 605             0.13       %   $ 1,430,819      $ 1,007         0.28     %
accounts
Savings deposits      349,968          81              0.09       %     268,251          146           0.22     %
Certificates and      1,034,242        873             0.34       %     871,526          1,341         0.62     %
other time deposits
Federal funds
purchased and         319,602          136             0.17       %     229,099          126           0.22     %
repurchase
agreements
Other borrowings      54,713           673             4.99       %     46,480           563           4.87     %
Total
interest-bearing      3,610,924        2,368           0.27       %     2,846,175        3,183         0.45     %
liabilities
                                                                                                        
Noninterest-Bearing
Liabilities:
Demand deposits       969,361                                           700,438
Other liabilities     25,326                                            27,928      
Total
noninterest-bearing   994,687                                           728,366
liabilities
("Non-IBL")
Shareholders'         511,392                                           383,377     
equity
Total Non-IBL and
shareholders'         1,506,079                                         1,111,743   
equity
Total liabilities
and shareholders'   $ 5,117,003                                       $ 3,957,918   
equity
                                                                                        
Net interest income and margin       $ 53,801          4.86       %                    $ 39,037        4.66     %
(NON-TAX EQUIV.)
Net interest margin                                    4.94       %                                    4.70     %
(TAX EQUIVALENT)
                                                                                                        
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                                       First
                    Three Months Ended                                                                 Quarter
                    March 31,        December 31,    September 30,    June 30,         March 31,       2013 -
                                                                                                       2012
NONINTEREST INCOME  2013             2012            2012             2012             2012            % Change
& EXPENSE
Noninterest income:
Service charges on  $ 5,761          $ 6,313         $ 6,169          $ 5,886          $ 5,447         5.8      %
deposit accounts
Bankcard services     3,893            3,665           3,570            3,618            3,320         17.3     %
income
Mortgage banking      3,395            4,214           3,526            3,052            1,830         85.5     %
income
Trust and
investment services   2,314            1,744           1,577            1,642            1,397         65.6     %
income
Securities gains,     --               128             --               61               --
net (8)
Amortization of
FDIC                  (7,171     )     (6,547     )    (6,623     )     (4,370     )     (3,233     )  -121.8   %
indemnification
asset
Other                 1,331            1,383           947              1,855            712           86.9     %
Total noninterest   $ 9,523          $ 10,900        $ 9,166          $ 11,744         $ 9,473         0.5      %
income
                                                                                                        
Noninterest
expense:
Salaries and        $ 23,252         $ 21,351        $ 18,647         $ 18,262         $ 18,048        28.8     %
employee benefits
Information           3,192            3,060           2,662            2,902            2,468         29.3     %
services expense
OREO expense and      3,102            3,221           3,951            2,115            2,716         14.2     %
loan related
Net occupancy         2,932            2,470           2,621            2,478            2,248         30.4     %
expense
Furniture and         2,572            2,340           2,165            2,371            2,239         14.9     %
equipment expense
Merger and
conversion related    1,963            7,552           568              1,998            96            1944.8   %
expense
Business
development and       1,228            1,017           878              689              752           63.3     %
staff related
FDIC assessment and
other regulatory      1,224            887             878              1,073            1,037         18.0     %
charges
Bankcard expense      1,164            985             1,057            1,118            902           29.0     %
Amortization of       1,034            566             566              540              500           106.8    %
intangibles
Professional fees     691              673             643              732              633           9.2      %
Advertising and       842              689             736              553              757           11.2     %
marketing
Other                 3,245            3,328           2,659            2,678            2,823         14.9     %
Total noninterest   $ 46,441         $ 48,139        $ 38,031         $ 37,509         $ 35,219        31.9     %
expense
                                                                                                        
                                                                                                        
                                                                                                        
Notes:
(1) Loan data excludes mortgage
loans held for sale.
(2) The dividend payout ratio is calculated by dividing total dividends paid during the period by the total net
income for the same period of 2013.
(3) Operating earnings, operating return on average assets, and operating return on average equity are non-GAAP
measures and exclude the after-tax effect of gains on acquisitions, gains or losses on sales of securities, OTTI,
and merger and conversion related expense. Management believes that non-GAAP operating measures provide
additional useful information that allows readers to evaluate the ongoing performance of the company. Non-GAAP
measures should not be considered as an alternative to any measure of performance or financial condition as
promulgated under GAAP, and investors should consider the company's performance and financial condition as
reported under GAAP and all other relevant information when assessing the performance or financial condition of
the company. Non-GAAP measures have limitations as analytical tools, and investors should not consider them in
isolation or as a substitute for analysis of the company's results or financial condition as reported under GAAP.
Operating earnings and the related operating return measures (non-GAAP) exclude the following from net income
(GAAP) on an after-tax basis: (a) pre-tax merger and conversion related expense of $1,963,000, $7,552,000,
$568,000, $1,998,000, and $96,000, for the quarters ended March 31, 2013, December 31, 2012, September 30, 2012,
June 30, 2012, and March 31, 2012, respectively; and (b) pre-tax securities gains of $128,000 and $61,000 for the
quarters ended December 31, 2012 and June 30, 2012, respectively.
(4) Repossessed assets includes OREO and other
nonperforming assets.
(5) Calculated by dividing total non-acquired NPAs
by total assets.
(6) Pre-tax, pre-provision operating earnings is a non-GAAP measure and excludes the effect of the provision for
loan losses, the provision for income taxes, the gains on acquisitions, gains or losses on sales of securities,
OTTI, and merger and conversion related expense. Management believes that non-GAAP pre-tax, pre-provision
operating earnings provides additional useful information that allows readers to evaluate the ongoing performance
of the company. Non-GAAP measures should not be considered as an alternative to any measure of performance or
financial condition as promulgated under GAAP, and investors should consider the company's performance and
financial condition as reported under GAAP and all other relevant information when assessing the performance or
financial condition of the company. Non-GAAP measures have limitations as analytical tools, and investors should
not consider them in isolation or as a substitute for analysis of the company's results or financial condition as
reported under GAAP.
(7) Acquired loans are not included in non-performing loans because the accretion method is being used for all
acquired loan pools.
(8) If an other-than-temporary impairment charge was recorded during the quarter, the amount would be reflected
in the "securities gains (losses), net" line item.
(9) March 31, 2013 ratios are estimated and may be subject to change pending the final filing of the FR Y-9C; all
other periods are presented as filed. All ratios are rounded down to one decimal point.
(10) The tangible measures are non-GAAP measures and exclude the effect of period end or average balance of
intangible assets. The tangible return on equity measures also add back the after-tax amortization of intangibles
to GAAP basis net income. Management believes that these non-GAAP tangible measures provide additional useful
information, particularly since these measures are widely used by industry analysts for companies with prior
merger and acquisition activities. Non-GAAP measures should not be considered as an alternative to any measure of
performance or financial condition as promulgated under GAAP, and investors should consider the company's
performance and financial condition as reported under GAAP and all other relevant information when assessing the
performance or financial condition of the company. Non-GAAP measures have limitations as analytical tools, and
investors should not consider them in isolation or as a substitute for analysis of the company's results or
financial condition as reported under GAAP. The sections titled "Reconciliation of Non-GAAP to GAAP" provide
tables that reconcile non-GAAP measures to GAAP.
(11) Classified asset data
excludes acquired assets.

Contact:

SCBT Financial Corporation
Media Contact: Donna Pullen, 803-765-4558
Analyst Contact: John C. Pollok, 803-765-4628
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