SCBT Reports Record Operating Results for 2Q 2013 of $0.77 per share; Declares Quarterly Cash Dividend

  SCBT Reports Record Operating Results for 2Q 2013 of $0.77 per share;
  Declares Quarterly Cash Dividend

Business Wire

COLUMBIA, S.C. -- July 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 June 30, 2013. Highlights of the second
quarter 2013 include:

  *Net income of $12.5 million, or $0.74 diluted EPS in 2Q 2013 compared to
    $10.6 million, or $0.63 diluted EPS 1Q 2013 and $8.0 million, or $0.55
    diluted EPS, in 2Q 2012;
  *Operating earnings, which excludes merger-related expense and securities
    gains or losses, of $13.1 million, or $0.77 diluted EPS in 2Q 2013
    compared to $12.0 million, or $0.71 diluted EPS in 1Q 2013 and $9.3
    million, or $0.63 diluted EPS in 2Q 2012;
  *Core deposit growth, excluding CDs and the Savannah acquisition, up $42.8
    million in 2Q 2013, or 6.2% annualized growth;
  *Return on average assets was 0.99% annualized in 2Q 2013 compared to 0.84%
    in 1Q 2013 and 0.75% in 2Q 2012;
  *Operating efficiency ratio was 63.8% in 2Q 2013 compared to 64.5% in 1Q
    2013 and compared to 60.8% in 2Q 2012;
  *Net charge-offs of non-acquired loans decreased to 0.40% annualized for 2Q
    ^  2013, compared to 0.56% annualized for 1Q 2013 and 0.77% annualized for
    2Q 2012;
  *Non-performing Assets (NPAs) improved to 2.56% of loans and repossessed
    assets, excluding acquired assets, for 2Q 2013 compared to 2.91% for 1Q
    2013 and 3.32% for 2Q 2012; and
  *Legacy loan growth for 2Q 2013 was $61.3 million or 9.4% annualized.

Quarterly Cash Dividend

The Board of Directors of SCBT has declared a quarterly cash dividend of $0.19
per share on its common stock payable on August 23, 2013 to shareholders of
record as of August 16, 2013. This per share amount is $0.01 per share, or
5.6% higher than the dividend paid in the immediately preceding quarter and is
$0.02 per share, or 11.8%, higher than a year ago.

Second 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 $12.5 million, or $0.74 per
diluted share, for the three months ended June 30, 2013 compared to
consolidated net income of $10.6 million, or $0.63 per diluted share, for the
first quarter of 2013. This $1.9 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 a decline
in noninterest income.

“I am pleased to announce record operating earnings for the second quarter,
and continued improvement in our return on assets and return on equity,” said
Robert R. Hill, Jr., president and CEO. “Our performance this quarter was
driven by continued asset quality improvements, a higher net interest income
and lower non-interest expense. We experienced some revenue slowdown in
mortgage banking, as mortgage originations decreased somewhat in association
with rising interest rates during the quarter. Our loan and core deposit
growth continued to be strong with non-acquired loan growth of 9.4%
annualized. We also completed the integration of The Savannah Bancorp., Inc.
and are making excellent progress in the Savannah market.”

Asset Quality

During the second quarter of 2013, SCBT continued to experience improvement in
asset quality, excluding acquired loans and other real estate owned (“OREO”),
as nonperforming loans declined by $4.0 million, or 7.0%, and classified
assets declined by $17.3 million, or 12.3% from the first quarter of 2013.
Nonperforming assets to total assets declined to 1.36% due to the decrease in
both non-acquired nonaccrual loans and OREO. NPAs, excluding acquired NPAs,
declined by $7.7 million from the first quarter 2013 level. Improvements in
asset quality continue as we experienced improvement in our markets in housing
starts (permits), home sales, continued decline in net charge-offs and lower
unemployment rates.

At June 30, 2013, the allowance for non-acquired loan losses was $38.6
million, or 1.45% of non-acquired period-end loans. The current allowance for
loan losses represents 73% of period-end non-acquired nonperforming loans. Net
charge-offs within the non-acquired loan portfolio decreased to $2.6 million,
or 0.40% annualized from $3.6 million, or 0.56% annualized in the first
quarter of 2013, and from $4.7 million, or 0.77% annualized in the second
quarter of 2012. In evaluating our provision for loan losses, 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.

Non-acquired OREO decreased by $3.7 million from the first quarter of 2013 and
decreased by $9.6 million from the second quarter of 2012. During the second
quarter, the Company recorded write-downs on 14 properties totaling $960,000;
sold 30 properties with book value of $4.6 million for a net gain of $136,000;
and added 17 properties for a total of $1.8 million.

Net Interest Income and Margin

Non-taxable equivalent net interest income was $55.3 million for the second
quarter of 2013, a $1.5 million increase from the first quarter of 2013,
resulting from an increase in yields on the acquired loan portfolio and an
increase in volume of non-acquired loans. The yield on interest earning assets
increased by 6 basis points to 5.13%.

We are estimating significant cash flow improvements in our acquired loan
portfolios, primarily in the CBT and Peoples portfolios, as part of our recast
process.

The overall cost of funds declined by 1 basis point from 21 basis points
during the first quarter to 20 basis points during the second quarter
(including the impact of non-interest bearing demand deposits).

Noninterest Income and Expense

Noninterest income declined for the second quarter of 2013 compared to the
second quarter of 2012. This decrease was the result of the following: (1)
mortgage banking income decreased $1.1 million due to fewer loans sold and
reduced pipeline; (2) service charges on deposit accounts were down $150,000;
(3) other fees were down $436,000 due to a decrease in recoveries related to
acquired loans; and (4) the negative accretion on the FDIC indemnification
asset increased by $2.9 million. Partially offsetting these decreases were
increases of $796,000 in trust and investment services income and $627,000 in
bankcard services income. 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 first quarter of 2013, noninterest income was down a total of
$1.0 million. This decrease resulted from a $1.4 million decrease in mortgage
banking income. Partially offsetting this decrease was an increase of $352,000
in bankcard services income.

Noninterest expense was $44.9 million in the second quarter of 2013, a 19.7%
or $7.4 million increase from $37.5 million in the second quarter of 2012.
This increase was driven primarily by an increase in salaries and benefits of
$5.5 million, or 30.0%, and increases in all other noninterest expense
categories, excluding merger-related expense and furniture and equipment
expense. The increase in salaries and employee benefits resulted primarily
from the impact of the addition of new FTEs largely related to the Savannah
acquisition. Declines of $1.1 million in merger-related expenses and $105,000
in furniture and equipment expenses partially offset these increases.

Compared to the first quarter of 2013, noninterest expense decreased by $1.6
million. The decrease resulted from a $1.1 million decline in merger-related
expenses and small declines in most other noninterest expense categories. This
decline was partially offset by an increase of $494,000 in salaries and
benefits, primarily the result of an increase the number of employees
participating in the 401(k) plan and the resulting match.

Balance Sheet and Capital

At June 30, 2013, SCBT’s total assets were $5.0 billion, up from $4.4 billion
at June 30, 2012, and down slightly from $5.1 billion at March 31, 2013. Since
June 30, 2012, the company’s balance sheet has grown by over $669.8 million,
or 15.3%, due primarily to closing of The Savannah Bancorp, Inc. acquisition.
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 $15.8 million
and decreases in FDIC receivables of $96.5 million. The asset growth was
supported primarily by $522.0 million in deposit growth, $42.2 million in
correspondent bank federal funds purchased and $91.7 million in additional
capital.

The Company’s book value per share increased to $30.33 per share at June 30,
2013, compared to $30.22 at March 31, 2013. Capital increased by $2.3 million
due primarily to net income of $12.5 million partially offset by an $8.3
million net unrealized loss on AFS securities and $3.1 million in dividends
paid to our shareholders. Tangible book value (“TBV”) per share increased by
$0.20 per share to $23.09 at June 30, 2013 from $22.89 at March 31, 2013 due
to the capital increases described above.

The total risk-based capital ratio is estimated to have increased by 30 basis
points from the first quarter of 2013 to 14.7%, due primarily to a change in
risk-weighted asset mix relative to the increase in capital. Tier 1 leverage
ratio increased to 9.2% from 8.9% at March 31, 2013. The increase is driven by
the growth in capital due to net income of $12.5 million partially offset by
the increase in average total assets. The Company’s capital positions remain
“well-capitalized” by all measures at June 30, 2013.

“Our performance during the quarter has enabled us to increase the dividend to
our shareholders to $0.19 per share, which is a $0.02 per share, or 11.8%,
increase over the dividend paid one year ago,” said John C. Pollok, CFO and
COO. “In addition, this current dividend will represent for a First Financial
shareholder a year over year increase of approximately 60% in dividend
received.”

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 $5.0 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, July 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
888-317-6016. The number for international participants is 412-317-6016. The
conference ID number is 10030421. Participants can also listen to the live
audio webcast through the Investor Relations section of www.SCBTonline.com. A
replay will be available beginning July 26^th by 2:00 pm Eastern Time until
9:00 a.m. on August 12^th. To listen to the replay, dial 877-344-7529 or
412-317-0088. The passcode is 10030421.

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 Section21E 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)
                                                                                                                                                          
                                                                                                             Second
                        Three Months Ended                                                                   Quarter    Six Months Ended                  YTD
                        June 30,         March 31,        December 31,     September 30,    June 30,         2013 -     June 30,                          2013 -
                                                                                                             2012                                         2012
EARNINGS SUMMARY                                                                                                                                          %
(non tax                2013             2013             2012             2012             2012             % Change   2013             2012             Change
equivalent)
Interest income         $ 57,530         $ 56,169         $ 50,263         $ 49,535         $ 45,470         26.5  %    $ 113,699        $ 87,690         29.7  %
Interest expense         2,246          2,368          2,351          2,625          2,936         -23.5 %     4,614         6,118         -24.6 %
Net interest income       55,284           53,801           47,912           46,910           42,534         30.0  %      109,085          81,572         33.7  %
Provision for loan        179              1,060            2,211            4,044            4,642          -96.1 %      1,239            7,365          -83.2 %
losses (1)
Noninterest income        8,485            9,523            10,900           9,166            11,744         -27.8 %      18,008           21,217         -15.1 %
Noninterest expense      44,885         46,441         48,139         38,031         37,508        19.7  %     91,326        72,727        25.6  %
Income before
provision for             18,705           15,823           8,462            14,001           12,128         54.2  %      34,528           22,697         52.1  %
income taxes
Provision for            6,173          5,174          2,552          4,938          4,097         50.7  %     11,347        7,638         48.6  %
income taxes
Net income              $ 12,532        $ 10,649        $ 5,910         $ 9,063         $ 8,031         56.0  %    $ 23,181        $ 15,059        53.9  %
                                                                                                                                                          
Effective tax rate        33.00      %     32.70      %     30.16      %     35.27      %     33.78      %                32.86      %     33.65      %
                                                                                                                                                          
Basic
weighted-average          16,790,167       16,787,487       15,320,472       14,920,423       14,650,914     14.6  %      16,803,656       14,260,257     17.8  %
common shares
Diluted
weighted-average          16,989,818       16,954,039       15,446,778       15,043,067       14,733,325     15.3  %      16,986,172       14,333,775     18.5  %
common shares
                                                                                                                                                          
Earnings per share      $ 0.75           $ 0.63           $ 0.39           $ 0.61           $ 0.55           36.4  %    $ 1.38           $ 1.06           30.2  %
- Basic
Earnings per share        0.74             0.63             0.38             0.60             0.55           34.5  %      1.36             1.05           29.5  %
- Diluted
                                                                                                                                                          
Cash dividends          $ 0.18           $ 0.18           $ 0.18           $ 0.17           $ 0.17           5.9   %    $ 0.36           $ 0.34           5.9   %
declared per share
Dividend payout           24.46      %     28.75      %     46.06      %     28.34      %     31.93      %   -23.4 %      26.43      %     32.90      %   -19.6 %
ratio (2)
                                                                                                                                                          
Operating Earnings
(non-GAAP) (3)
Net income (GAAP)       $ 12,532         $ 10,649         $ 5,910          $ 9,063          $ 8,031          56.0  %    $ 23,181         $ 15,059         53.9  %
Securities (gains)        --               --               (89        )     --               (40        )                --               --
losses, net of tax
Merger and
conversion related       576            1,321          5,274          357            1,323         -56.4 %     1,897          1,387      
expense, net of tax
Net operating
earnings (loss)         $ 13,108        $ 11,970        $ 11,095        $ 9,420         $ 9,314         40.7  %    $ 25,078        $ 16,446        52.5  %
(non-GAAP)
                                                                                                                                                          
Operating earnings
(loss) per share -      $ 0.78           $ 0.71           $ 0.72           $ 0.63           $ 0.64           21.9  %    $ 1.49           $ 1.15           29.6  %
Basic
Operating earnings
(loss) per share -        0.77             0.71             0.72             0.63             0.63           22.2  %      1.48             1.14           29.8  %
Diluted
                                                                                                                                                                
                                                                                                                                                          
                                                                                                             Second
                        AVERAGE for Quarter Ended                                                            Quarter    AVERAGE for Six Months            YTD
                        June 30,         March 31,        December 31,     September 30,    June 30,         2013 -     June 30,         June 30,         2013 -
                                                                                                             2012                                         2012
BALANCE SHEET           2013             2013             2012             2012             2012             % Change   2013             2012             %
HIGHLIGHTS                                                                                                                                                Change
Loans held for sale     $ 40,040         $ 51,216         $ 60,183         $ 56,300         $ 29,604         35.3  %    $ 45,597         $ 31,838         43.2  %
Acquired loans, net
of allowance for          927,520          997,010          582,726          501,214          484,084        91.6  %      962,073          420,876        128.6 %
acquired loan
losses
Non-acquired loans        2,629,897        2,576,545        2,528,753        2,497,478        2,456,069      7.1   %      2,603,368        2,456,075      6.0   %
Total loans (1)           3,557,417        3,573,555        3,111,479        2,998,692        2,940,153      21.0  %      3,565,441        2,876,951      23.9  %
FDIC receivable for
loss share                114,724          139,172          162,580          194,116          219,183        -47.7 %      126,881          232,870        -45.5 %
agreements
Total investment          527,926          553,214          510,434          501,816          468,334        12.7  %      540,499          396,405        36.4  %
securities
Intangible assets         123,881          125,257          87,372           79,857           79,041         56.7  %      124,565          76,565         62.7  %
Earning assets            4,496,341        4,489,187        3,972,280        3,766,889        3,703,552      21.4  %      4,492,784        3,537,629      27.0  %
Total assets              5,069,993        5,117,003        4,517,076        4,331,436        4,295,369      18.0  %      5,093,368        4,126,643      23.4  %
Noninterest-bearing       1,023,668        969,400          886,240          813,394          795,867        28.6  %      996,684          748,153        33.2  %
deposits
Interest-bearing          3,150,909        3,236,610        2,853,253        2,800,446        2,808,884      12.2  %      3,193,523        2,689,740      18.7  %
deposits
Total deposits            4,174,577        4,206,010        3,739,493        3,613,840        3,604,751      15.8  %      4,190,207        3,437,893      21.9  %
Federal funds
purchased and             297,025          319,602          247,970          223,844          215,678        37.7  %      308,251          222,389        38.6  %
repurchase
agreements
Other borrowings          54,461           54,713           47,555           45,908           46,203         17.9  %      54,587           46,342         17.8  %
Shareholders'             517,141          511,392          450,446          429,183          415,952        24.3  %      514,282          399,668        28.7  %
equity


SCBT Financial Corporation
(Unaudited)
(Dollars in thousands, except per share data)
                                                                                                      Second
                        ENDING Balance                                                                       Quarter
                        June 30,         March 31,        December 31,     September 30,    June 30,         2013 -
                                                                                                             2012
BALANCE SHEET           2013             2013             2012             2012             2012             %
HIGHLIGHTS                                                                                                   Change
Loans held for sale     $ 47,980         $ 50,449         $ 65,279         $ 71,585         $ 42,525         12.8  %
Acquired loans            921,840          995,255          1,074,742        520,991          560,058        64.6  %
Non-acquired loans        2,665,595        2,604,298        2,571,003        2,517,352        2,481,251      7.4   %
Total loans (1)           3,587,435        3,599,553        3,645,745        3,038,343        3,041,309      18.0  %
FDIC receivable for
loss share                104,048          124,340          146,171          174,321          200,569        -48.1 %
agreements
Total investment          531,579          533,255          560,091          500,587          511,138        4.0   %
securities
Intangible assets         123,352          124,668          125,801          79,391           79,971         54.2  %
Allowance for
acquired loan             (31,597    )     (31,277    )     (32,132    )     (31,138    )     (35,813    )   -11.8 %
losses
Allowance for
non-acquired loan         (38,625    )     (41,669    )     (44,378    )     (46,439    )     (47,269    )   -18.3 %
losses (1)
Premises and              109,794          110,792          115,583          105,579          106,458        3.1   %
equipment
Total assets              5,043,078        5,141,929        5,136,446        4,325,232        4,373,269      15.3  %
Noninterest-bearing       1,046,537        1,002,662        981,963          818,633          806,235        29.8  %
deposits
Interest-bearing          3,136,432        3,216,694        3,316,397        2,770,665        2,854,737      9.9   %
deposits
Total deposits            4,182,969        4,219,356        4,298,360        3,589,298        3,660,972      14.3  %
Federal funds
purchased and             262,447          328,701          238,621          226,330          220,264        19.2  %
repurchase
agreements
Other borrowings          54,372           54,638           54,897           45,807           46,105         17.9  %
Total liabilities         4,526,486        4,627,718        4,628,897        3,891,308        3,948,363      14.6  %
Shareholders'             516,592          514,211          507,549          433,924          424,906        21.6  %
equity
                                                                                                             
Common shares
issued and                17,032,061       17,017,904       16,937,464       15,114,185       15,085,991     12.9  %
outstanding
                                                                                                             
                                                                                                             Second
                                                                                                             Quarter
                        June 30,         March 31,        December 31,     September 30,    June 30,         2013 -
                                                                                                             2012
NONPERFORMING                                                                                                %
ASSETS (ENDING          2013             2013             2012             2012             2012             Change
BALANCE)
Non-acquired
Non-acquired            $ 40,854         $ 42,945         $ 48,387         $ 46,295         $ 47,940         -14.8 %
nonaccrual loans
Restructured loans        11,689           13,636           13,151           12,882           9,530          22.7  %
Other real estate
owned ("OREO") not
covered under FDIC        15,950           19,680           19,069           22,424           25,518         -37.5 %
loss share
agreements
Accruing loans past       198              121              500              156              137            44.5  %
due 90 days or more
Other nonperforming      --             --             --             --             --         
assets
Total non-acquired
nonperforming            68,691         76,382         81,107         81,757         83,125        -17.4 %
assets
Acquired (7)
Acquired nonaccrual       --               --               --               --               --
loans
OREO covered under
FDIC loss share           35,142           34,244           34,257           47,063           53,146         -33.9 %
agreements
OREO not covered
under FDIC loss           17,536           16,766           13,179           5,059            5,745          205.2 %
share agreements
Other nonperforming      --             26             44             57             73         
assets
Total acquired
nonperforming            52,678         51,036         47,480         52,179         58,964        -10.7 %
assets
Total nonperforming     $ 121,369       $ 127,418       $ 128,587       $ 133,936       $ 142,089       -14.6 %
assets
                                                                                                             
Excluding Acquired
Assets
Total nonperforming
assets as a
percentage of total      2.56       %    2.91       %    3.13       %    3.22       %    3.32       %
non-acquired loans
and repossessed
assets (1) (4)
Total nonperforming
assets as a              1.36       %    1.49       %    1.58       %    1.89       %    1.90       %
percentage of total
assets (5)
NPLs as a
percentage of            1.98       %    2.18       %    2.41       %    2.36       %    2.32       %
period end
non-acquired loans
Including Acquired
Assets
Total nonperforming
assets as a
percentage of total      3.32       %    3.47       %    3.46       %    4.31       %    4.55       %
loans and
repossessed assets
(1) (4)
Total nonperforming
assets as a              2.41       %    2.48       %    2.50       %    3.10       %    3.25       %
percentage of total
assets
NPLs as a
percentage of            1.47       %    1.58       %    1.70       %    1.95       %    1.89       %
period end loans
                                                                                                             
OTHER ASSET QUALITY
INFORMATION
Classified Assets
(Ending Balance)
(11)
Classified loans        $ 107,671        $ 121,222        $ 124,133        $ 135,095        $ 135,099        -20.3 %
OREO and other
nonperforming             15,950           19,680           19,069           22,424           25,518         -37.5 %
assets
Total classified        $ 123,621       $ 140,902       $ 143,202       $ 157,519       $ 160,617       -23.0 %
assets
                                                                                                             
Tier 1 capital and
non-acquired            $ 494,562       $ 484,744       $ 477,686       $ 444,200       $ 436,964       13.2  %
allowance for loan
losses
Classified assets
as a percentage of
Tier 1 capital and       25.00      %    29.07      %    29.98      %    35.46      %    36.76      %
non-acquired
allowance for loan
losses
                                                                                                             
Non-acquired Loans      $ 10,957        $ 7,199         $ 7,189         $ 9,270         $ 10,464        4.7   %
30-89 Day Past Due


SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                           Second                            
                  Quarter Ended                                                                   Quarter    Six Months Ended           YTD
                  June 30,        March 31,       December 31,    September 30,   June 30,        2013 -     June 30,     June 30,      2013 -
                                                                                                  2012                                  2012
ALLOWANCE FOR                                                                                                                           %
LOAN LOSSES       2013            2013            2012            2012            2012            % Change   2013         2012          Change
(1)
Non-acquired
Loans:
Balance at
beginning of      $ 41,669        $ 44,378        $ 46,439        $ 47,269        $ 47,607        -12.5  %   $ 44,378     $ 49,367      -10.1 %
period
Loans charged       (2,827    )     (4,148    )     (4,291    )     (5,506    )     (5,114    )   -44.7  %     (6,975 )     (10,458 )   -33.3 %
off
Overdrafts          (393      )     (459      )     (446      )     (434      )     (441      )   -10.9  %     (852   )     (795    )   7.2   %
charged off
Loan                436             826             550             481             700           -37.7  %     1,262        2,124       -40.6 %
recoveries
Overdraft          140           219           131           129           125          12.0   %    359        341        5.3   %
recoveries
Net                 (2,644    )     (3,562    )     (4,056    )     (5,330    )     (4,730    )   -44.1  %     (6,206 )     (8,788  )   -29.4 %
charge-offs
Provision for
loan losses
on                 (400      )    853           1,995         4,500         4,392        -109.1 %    453        6,690      -93.2 %
non-acquired
loans
Balance at
end of
period,            38,625        41,669        44,378        46,439        47,269       -18.3  %    38,625     47,269     -18.3 %
non-acquired
loans
Acquired
Loans:
Balance at
beginning of        31,277          32,132          31,138          35,812          34,355                     32,132       31,620
period
Loans charged       --              --              --              --              --                         --           --
off
Loan               --            --            --            --            --                       --         --      
recoveries
Net                 --              --              --              --              --                         --           --
charge-offs
Provision for
loan losses
on acquired
loans:
Provision for
loan losses
before
benefit             320             (855      )     994             (4,674    )     1,457                      (535   )     4,193
attributable
to FDIC loss
share
agreements
Benefit
attributable
to FDIC loss       259           1,062         (778      )    4,218         (1,208    )               1,322      (3,518  )
share
agreements
Net provision
for loan
losses on          579           207           216           (456      )    249                      787        675     
acquired
loans
Provision for
loan losses
recorded
through the        (259      )    (1,062    )    778           (4,218    )    1,208                    (1,322 )    3,518   
FDIC loss
share
receivable
Balance at
end of
period,            31,597        31,277        32,132        31,138        35,812                   31,597     35,813  
acquired
loans
Balance at
end of
period, total     $ 70,222       $ 72,946       $ 76,510       $ 77,577       $ 83,081       -15.5  %   $ 70,222    $ 83,082     -15.5 %
allowance for
loan losses
                                                                                                                                        
Total
provision for
loan losses       $ 179          $ 1,060        $ 2,211        $ 4,044        $ 4,641                   $ 1,240     $ 7,365   
charged to
operations
Allowance for
non-acquired
loan losses
as a               1.45      %    1.60      %    1.73      %    1.84      %    1.91      %               1.45   %    1.91    %
percentage of
non-acquired
loans (1)
Allowance for
loan losses
as a               1.96      %    2.03      %    2.10      %    2.55      %    2.73      %               1.96   %    2.73    %
percentage of
total loans
(1)
Allowance for
non-acquired
loan losses
as a               73.23     %    73.49     %    71.53     %    78.27     %    82.05     %               73.23  %    82.05   %
percentage of
non-acquired
nonperforming
loans
Net
charge-offs
on
non-acquired
loans as a
percentage of      0.40      %    0.56      %    0.64      %    0.85      %    0.77      %               0.48   %    0.72    %
average
non-acquired
loans
(annualized)
(1)
                                                                                                                                        
                                                                                                  Second
                                                                                                  Quarter
                  June 30,        March 31,       December 31,    September 30,   June 30,        2013 -
                                                                                                  2012
LOAN
PORTFOLIO         2013            2013            2012            2012            2012            % Change
(ENDING
balance) (1)
Acquired          $ 239,082       $ 257,066       $ 282,728       $ 309,034       $ 332,874       -28.2  %
covered loans
Acquired
non-covered         682,758         738,189         792,014         211,957         227,184       200.5  %
loans
Non-acquired
loans:
Commercial
non-owner
occupied real
estate:
Construction
and land            285,370         273,488         273,420         273,606         279,519       2.1    %
development
Commercial
non-owner          298,769       298,707       290,071       278,935       284,147      5.1    %
occupied
Total
commercial
non-owner           584,139         572,195         563,491         552,541         563,666       3.6    %
occupied real
estate
Consumer real
estate:
Consumer
owner               460,434         443,134         434,503         430,825         420,298       9.5    %
occupied
Home equity        250,988       249,356       255,284       255,677       257,061      -2.4   %
loans
Total
consumer real       711,422         692,490         689,787         686,502         677,359       5.0    %
estate
Commercial
owner               802,125         796,139         784,152         787,623         763,338       5.1    %
occupied real
estate
Commercial
and                 294,580         291,308         279,763         245,285         228,010       29.2   %
industrial
Other income
producing           136,957         131,776         133,713         131,832         132,193       3.6    %
property
Consumer non        104,239         93,997          86,934          86,729          87,290        19.4   %
real estate
Other              32,133        26,393        33,163        26,840        29,395       9.3    %
Total
non-acquired       2,665,595     2,604,298     2,571,003     2,517,352     2,481,251    7.4    %
loans
Total loans
(net of           $ 3,587,435    $ 3,599,553    $ 3,645,745    $ 3,038,343    $ 3,041,309    18.0   %
unearned
income) (1)
                                                                                                                                        
Loans held        $ 47,980       $ 50,449       $ 65,279       $ 71,585       $ 42,525       12.8   %
for sale

                                                                                                                                              
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands, except per share data)
                                                                                                                         
                                                                                                                                                
                       Quarter Ended                                                                                  Six Months Ended
                       June 30,         March 31,        December 31,     September 30,    June 30,                   June 30,     June 30,
SELECTED RATIOS        2013             2013             2012             2012             2012                       2013         2012
                                                                                                                                                
Return on average
assets                  0.99       %    0.84       %    0.52       %    0.83       %    0.75       %              0.92   %    0.73   %
(annualized)
                                                                                                                                                
Operating return
on average assets       1.04       %    0.95       %    0.98       %    0.87       %    0.88       %              0.99   %    0.80   %
(annualized)
(non-GAAP) (3)
                                                                                                                                                
Return on average
equity                  9.72       %    8.45       %    5.22       %    8.40       %    7.77       %              9.09   %    7.58   %
(annualized)
                                                                                                                                                
Operating return
on average equity       10.17      %    9.49       %    9.80       %    8.73       %    9.05       %              9.83   %    8.28   %
(annualized)
(non-GAAP) (3)
                                                                                                                                                
Return on average
tangible equity         13.48      %    11.92      %    6.91       %    10.74      %    9.92       %              12.71  %    9.80   %
(annualized)
(non-GAAP) (10)
                                                                                                                                                
Net interest
margin (tax             5.01       %    4.94       %    4.88       %    5.03       %    4.69       %              4.97   %    4.70   %
equivalent)
                                                                                                                                                
Efficiency ratio        69.49      %    72.37      %    80.95      %    66.91      %    68.34      %              70.92  %    70.07  %
(tax equivalent)
                                                                                                                                                
Operating
efficiency ratio        63.79      %    64.47      %    62.84      %    58.96      %    60.84      %              64.13  %    63.40  %
excluding OREO
expense
                                                                                                                                                
Book value per         $ 30.33         $ 30.22         $ 29.97         $ 28.71         $ 28.17      
common share
                                                                                                                                                
Tangible book
value per common       $ 23.09         $ 22.89         $ 22.54         $ 23.46         $ 22.86      
share (non-GAAP)
(10)
                                                                                                                                                
Common shares
issued and              17,032,061     17,017,904     16,937,464     15,114,185     15,085,991 
outstanding
                                                                                                                                                
Equity-to-assets        10.24      %    10.00      %    9.88       %    10.03      %    9.72       %
                                                                                                                                                
Tangible
equity-to-tangible      7.99       %    7.76       %    7.62       %    8.35       %    8.03       %
assets (non-GAAP)
(10)
                                                                                                                                                
Tier 1 leverage         9.2        %    8.8        %    9.8        %    9.3        %    9.2        %
(9)
                                                                                                                                                
Tier 1 risk-based       13.4       %    13.2       %    12.7       %    14.0       %    13.9       %
capital (9)
                                                                                                                                                
Total risk-based        14.7       %    14.4       %    13.9       %    15.2       %    15.1       %
capital (9)
                                                                                                                                                
                                                                                                                                                
                       Quarter Ended                                                                                  Six Months Ended
                       June 30,         March 31,        December 31,     September 30,    June 30,                   June 30,     June 30,
RECONCILIATION OF      2013             2013             2012             2012             2012                       2013         2012
NON-GAAP TO GAAP
                                                                                                                                                
Pre-tax,
Pre-provision
Operating Earnings
(6)
Net income (GAAP)      $ 12,532         $ 10,649         $ 5,910          $ 9,063          $ 8,031          56.0  %   $ 23,181     $ 15,059     53.9  %
Provision for loan       179              1,060            2,211            4,044            4,642          -96.1 %     1,239        7,365      -83.2 %
losses (1)
Provision for           6,173          5,174          2,552          4,938          4,097         50.7  %    11,347    7,638     48.6  %
income taxes
Pre-tax,
pre-provision            18,884           16,883           10,673           18,045           16,770         12.6  %     35,767       30,062     19.0  %
income
Securities gains         --               --               (128       )     --               (61        )               --           (61    )
Merger and
conversion related      860            1,963          7,552          568            1,998                    2,823      2,094  
expense
Pre-tax,
pre-provision          $ 19,744        $ 18,846        $ 18,097        $ 18,613        $ 18,707        5.5   %   $ 38,590    $ 32,095    20.2  %
operating earnings
(non-GAAP)
                                                                                                                                                
Operating
efficiency ratio
excluding OREO
expense
Operating
efficiency ratio         63.79      %     64.47      %     62.84      %     58.96      %     60.84      %               64.13  %     63.40  %
excluding OREO
expense
Effect to adjust
for OREO and loan        4.37       %     4.84       %     5.41       %     6.95       %     3.86       %               4.60   %     4.65   %
related expense
Effect to adjust
for merger and          1.33       %    3.06       %    12.70      %    1.00       %    3.64       %              2.19   %    2.02   %
conversion
expenses
Efficiency ratio        69.49      %    72.37      %    80.95      %    66.91      %    68.34      %              70.92  %    70.07  %
(Tax Equivalent)
                                                                                                                                                
Operating Return
of Average Assets
(3)
Operating return
on average assets        1.04       %     0.95       %     0.98       %     0.87       %     0.88       %               0.99   %     0.80   %
(non-GAAP)
Effect to adjust
for securities           0.00       %     0.00       %     0.01       %     0.00       %     0.00       %               0.00   %     0.00   %
gains (losses)
Effect to adjust
for merger and          -0.05      %    -0.11      %    -0.47      %    -0.04      %    -0.13      %              -0.07  %    -0.07  %
conversion related
expenses
Return on average       0.99       %    0.84       %    0.52       %    0.83       %    0.75       %              0.92   %    0.73   %
assets (GAAP)
                                                                                                                                                
Operating Return
of Average Equity
(3)
Operating return
on average equity        10.17      %     9.49       %     9.80       %     8.73       %     9.05       %               9.83   %     8.28   %
(non-GAAP)
Effect to adjust
for securities           0.00       %     0.00       %     0.08       %     0.00       %     0.04       %               0.00   %     0.00   %
gains (losses)
Effect to adjust
for merger and          -0.45      %    -1.04      %    -4.66      %    -0.33      %    -1.32      %              -0.74  %    -0.70  %
conversion related
expenses
Return on average       9.72       %    8.45       %    5.22       %    8.40       %    7.77       %              9.09   %    7.58   %
equity (GAAP)


SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                                              
                        Quarter Ended                                                                         Six Months Ended
                        June 30,        March 31,     December     September 30,   June 30,                   June      June
                                                      31,                                                     30,       30,
RECONCILIATION OF
NON-GAAP TO GAAP        2013            2013          2012         2012            2012                       2013      2012
(CONTINUED)
                                                                                                                        
Return on Average
Tangible Equity
(10)
Return on average
tangible equity           13.48     %      11.92  %      6.91  %     10.74     %      9.92   %                12.71 %   9.80  %
(non-GAAP)
Effect to adjust
for intangible           -3.76     %     -3.47  %     -1.69 %    -2.34     %     -2.15  %                -3.62 %   -2.22 %
assets
Return on average        9.72      %     8.45   %     5.22  %    8.40      %     7.77   %                9.09  %   7.58  %
equity (GAAP)
                                                                                                                        
Tangible Book Value
Per Common Share
(10)
Tangible book value
per common share        $ 23.09         $  22.89      $  22.54     $ 23.46         $  22.86
(non-GAAP)
Effect to adjust
for intangible           7.24           7.33        7.43      5.25           5.30   
assets
Book value per          $ 30.33        $  30.22     $  29.97    $ 28.71        $  28.17  
common share (GAAP)
                                                                                                                        
Tangible
Equity-to-Tangible
Assets (10)
Tangible
equity-to-tangible        7.99      %      7.76   %      7.62  %     8.35      %      8.03   %
assets (non-GAAP)
Effect to adjust
for intangible           2.25      %     2.24   %     2.26  %    1.68      %     1.69   %
assets
Equity-to-assets         10.24     %     10.00  %     9.88  %    10.03     %     9.72   %
(GAAP)
                                                                                                                        
                                                                                                                        
                        Three Months Ended
                        June 30, 2013                              June 30, 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       $ 370,958       $  444           0.48  %     265,462       $  279        0.42    %
time deposits
Investment
securities                378,426          2,096         2.22  %     337,612          2,036      2.43    %
(taxable)
Investment
securities                149,500          1,174         3.15  %     130,722          1,035      3.18    %
(tax-exempt)
Loans held for sale       40,040           337           3.38  %     29,604           276        3.75    %
Acquired loans, net
of allowance for          927,520          24,492        10.59 %     484,084          11,869     9.86    %
acquired loan
losses
Non-acquired loans       2,629,901      28,987       4.42  %    2,456,069      29,975    4.91    %
(1)
Total
interest-earning          4,496,345        57,530        5.13  %     3,703,553        45,470     4.94    %
assets
                                                                                                                        
Noninterest-Earning
Assets:
Cash and due from         96,132                                     94,360
banks
Other assets              519,059                                    545,170
Allowance for
non-acquired loan        (41,543   )                               (47,714   )
losses
Total
noninterest-earning      573,648                                  591,816   
assets
Total Assets            $ 5,069,993                               $ 4,295,369 
                                                                                                                        
Interest-Bearing
Liabilities:
Transaction and
money market            $ 1,822,379     $  570           0.13  %   $ 1,548,083     $  840        0.22    %
accounts
Savings deposits          353,574          81            0.09  %     296,518          128        0.17    %
Certificates and          974,957          812           0.33  %     964,284          1,303      0.54    %
other time deposits
Federal funds
purchased and             297,025          115           0.16  %     215,678          110        0.21    %
repurchase
agreements
Other borrowings         54,461         668          4.92  %    46,203         555       4.83    %
Total
interest-bearing          3,502,396        2,246         0.26  %     3,070,766        2,936      0.38    %
liabilities
                                                                                                                        
Noninterest-Bearing
Liabilities:
Demand deposits           1,023,668                                  795,867
Other liabilities        26,788                                   12,784    
Total
noninterest-bearing       1,050,456                                  808,651
liabilities
("Non-IBL")
Shareholders'            517,141                                  415,952   
equity
Total Non-IBL and
shareholders'            1,567,597                                1,224,603 
equity
Total liabilities
and shareholders'       $ 5,069,993                               $ 4,295,369 
equity
                                                                                  
Net interest income
and margin (NON-TAX                     $  55,284      4.93  %                   $  42,534    4.62    %
EQUIV.)
Net interest margin                                     5.01  %                                 4.69    %
(TAX EQUIVALENT)


SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                                                         
                        Six Months Ended
                        June 30, 2013                              June 30, 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       $ 341,245       $ 862            0.51  %   $ 232,436       $  491        0.42    %
time deposits
Investment
securities                386,626         4,257          2.22  %     300,326          3,727      2.50    %
(taxable)
Investment
securities                153,873         2,381          3.12  %     96,079           1,574      3.29    %
(tax-exempt)
Loans held for sale       45,597          719            3.18  %     31,838           598        3.78    %
Acquired loans, net
of allowance for          962,073         47,862         10.03 %     420,876          20,979     10.02   %
acquired loan
losses
Non-acquired loans       2,603,370     57,618        4.46  %    2,456,075      60,321    4.94    %
(1)
Total
interest-earning          4,492,784       113,699        5.10  %     3,537,630        87,690     4.98    %
assets
                                                                                                                                    
Noninterest-Earning
Assets:
Cash and due from         108,002                                    93,284
banks
Other assets              535,514                                    544,244
Allowance for
non-acquired loan        (42,932   )                               (48,515   )
losses
Total
noninterest-earning      600,584                                  589,013   
assets
Total Assets            $ 5,093,368                               $ 4,126,643 
                                                                                                                                    
Interest-Bearing
Liabilities:
Transaction and
money market            $ 1,837,306     $ 1,176          0.13  %   $ 1,489,451     $  1,847      0.25    %
accounts
Savings deposits          351,781         162            0.09  %     282,384          275        0.20    %
Certificates and          1,004,436       1,686          0.34  %     917,908          2,643      0.58    %
other time deposits
Federal funds
purchased and             308,251         251            0.16  %     222,389          236        0.21    %
repurchase
agreements
Other borrowings         54,587        1,340         4.95  %    46,342         1,116     4.84    %
Total
interest-bearing          3,556,361       4,615          0.26  %     2,958,474        6,117      0.42    %
liabilities
                                                                                                                                    
Noninterest-Bearing
Liabilities:
Demand deposits           996,684                                    748,152
Other liabilities        26,041                                   20,349    
Total
noninterest-bearing       1,022,725                                  768,501
liabilities
("Non-IBL")
Shareholders'            514,282                                  399,668   
equity
Total Non-IBL and
shareholders'            1,537,007                                1,168,169 
equity
Total liabilities
and shareholders'       $ 5,093,368                               $ 4,126,643 
equity
                                                                                  
Net interest income
and margin (NON-TAX                     $ 109,084      4.90  %                   $  81,573    4.64    %
EQUIV.)
Net interest margin                                     4.97  %                                 4.70    %
(TAX EQUIVALENT)
                                                                                                                                    
                                                                                                                                    
SCBT Financial Corporation
(Unaudited)
(Dollars in thousands)
                                                                                                 Second
                        Three Months Ended                                                       Quarter      Six Months Ended      YTD
                        June 30,        March 31,     December     September 30,   June 30,      2013 -       June 30,              2013 -
                                                      31,                                        2012                               2012
NONINTEREST INCOME      2013            2013          2012         2012            2012          % Change     2013       2012       % Change
& EXPENSE
Noninterest income:
                                                                                                                                        %
Service charges on      $ 5,736         $ 5,761       $  6,313     $ 6,169         $  5,886      -2.5    %     11,497     11,333    1.4 *Story
deposit accounts                                                                                                                        too
                                                                                                                                        large*

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