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Enterprise Bank of South Carolina

Ehrhardt, SC · Cert 11539 · Varn Financial Corp.

State charter, non-member · FDIC · 12 branches

Q2 2026

$535.1MAssets
$293.9MLoans
$472.2MDeposits
$48.7MEquity
Loan mix
87%RE $246.4M9%C&I $24.5M4%Consumer $11.9MQ2 2025Q2 2026
Deposit mix
79%Interest-bearing $373.3M21%Noninterest $98.9MQ2 2025Q2 2026

NIM

4.08%Q2 ’244.57%Q2 ’254.33%Q2 ’26+12%+8%

Non-interest income vs. expense

2.64%Q2 ’242.69%Q2 ’252.78%Q2 ’26+2%-161%

Market Position · Charleston-North Charleston, SC · 2026 SOD (annual) · 0.2% share · #28 of 37 inst. · $0.1B of $25.6B

41.4% Bamberg
45.6% Barnwell
16.4% Colleton
0.2% Charleston

Executive Summary

  • Earnings: ROA of 6.21%, up 543 bps year over year; NIM at 3.48%.
  • Asset quality: problem loans at 3.64% of loans (-52 bps YoY), with net charge-offs at 0.11%.
  • Capital: tier 1 leverage ratio of 9.26%, up 232 bps from a year ago.
  • Funding: loans stand at 62.23% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

6.21%+543 bps YoY

Net Interest Margin (YTD, annualized)

3.48%+25 bps YoY

Efficiency Ratio (YTD, annualized)

36.69%-3,700 bps YoY

Tier 1 Leverage Ratio

9.26%+232 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.78%0.80%2.30%8.55%6.21%+543 bps
Return on Equity22.48%21.97%55.88%123.01%80.70%+5,822 bps
Net Interest Margin3.23%3.29%3.42%3.46%3.48%+25 bps
Efficiency Ratio73.69%73.41%70.92%23.19%36.69%-3,700 bps
Non-Interest Burden2.26%2.30%2.26%-5.58%-1.39%-366 bps
Growth
Asset Growth (YoY)6.03%6.60%-0.50%3.27%9.41%+337 bps
Loan Growth (YoY)3.11%9.35%7.80%9.61%11.23%+812 bps
Deposit Growth (YoY)5.07%5.42%-3.57%-4.14%0.84%-422 bps
Asset Quality
Nonperforming Loans / Loans4.16%4.06%3.78%3.70%3.64%-52 bps
Net Charge-Offs / Loans0.37%0.27%0.41%0.10%0.11%-26 bps
Allowance / Loans0.68%0.70%0.70%0.74%0.71%+3 bps
Allowance Coverage of NPLs0.2x0.2x0.2x0.2x0.2x0.0x
Capital
Tier 1 Leverage Ratio6.94%7.22%7.57%9.53%9.26%+232 bps
Total Risk-Based Capital13.53%13.38%13.39%16.43%16.13%+260 bps
Equity / Assets3.86%4.23%6.05%7.80%9.10%+524 bps
Liquidity & Funding
Loans / Deposits56.42%59.24%60.62%61.20%62.23%+581 bps
Liquid Assets / Assets36.92%33.50%31.13%31.72%29.05%-787 bps
CRE / Total Capitaln/a243%235%222%n/an/a