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Southern Bank and Trust Company

Mount Olive, NC · Cert 15359 · Southern Bancshares N C Inc.

State charter, non-member · FDIC · 56 branches

Q2 2026

$5.3BAssets
$3.6BLoans
$4.8BDeposits
$433.7MEquity
Loan mix
92%RE $3.1B7%C&I $0.2B1%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
69%Interest-bearing $3.3B31%Noninterest $1.5BQ2 2025Q2 2026

NIM

3.77%Q2 ’244.10%Q2 ’254.29%Q2 ’26+24%+14%

Non-interest income vs. expense

1.99%Q2 ’242.07%Q2 ’252.09%Q2 ’26+11%-2%

Market Position · Virginia Beach-Chesapeake-Norfolk, VA-NC · 2026 SOD (annual) · 2.6% share · #7 of 22 inst. · $0.8B of $31.1B

85.4% Hertford
17.2% Nash
24.0% Wayne
11.6% Pitt

Executive Summary

  • Earnings: ROA of 1.91%, up 47 bps year over year; NIM at 3.42%.
  • Asset quality: problem loans at 0.12% of loans (-2 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 9.63%, down 34 bps from a year ago.
  • Funding: loans stand at 74.65% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.91%+47 bps YoY

Net Interest Margin (quarter, annualized)

3.42%+43 bps YoY

Efficiency Ratio (quarter, annualized)

52.05%-630 bps YoY

Tier 1 Leverage Ratio

9.63%-34 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.44%0.72%2.10%0.89%1.91%+47 bps
Return on Equity18.73%9.01%25.82%10.90%23.25%+453 bps
Net Interest Margin2.99%3.08%3.24%3.34%3.42%+43 bps
Efficiency Ratio58.35%54.78%52.22%53.23%52.05%-630 bps
Non-Interest Burden1.50%1.41%1.43%1.50%1.48%-3 bps
Growth
Asset Growth (YoY)3.04%3.74%3.69%6.85%7.31%+427 bps
Loan Growth (YoY)3.91%4.88%5.11%7.62%8.44%+452 bps
Deposit Growth (YoY)6.97%6.34%5.26%6.75%7.82%+84 bps
Asset Quality
Nonperforming Loans / Loans0.14%0.15%0.13%0.12%0.12%-2 bps
Net Charge-Offs / Loans0.00%-0.01%0.01%0.00%0.01%0 bps
Allowance / Loans1.04%1.03%1.05%1.05%1.05%+1 bps
Allowance Coverage of NPLs7.2x6.9x8.2x8.6x8.7x+1.5x
Capital
Tier 1 Leverage Ratio9.98%9.92%9.57%9.69%9.63%-34 bps
Total Risk-Based Capital14.20%14.36%13.87%14.07%13.63%-58 bps
Equity / Assets7.93%8.13%8.16%8.22%8.18%+25 bps
Liquidity & Funding
Loans / Deposits74.22%72.09%73.02%72.85%74.65%+43 bps
Liquid Assets / Assets1.86%5.51%4.16%4.12%3.10%+124 bps
CRE / Total Capitaln/a322%333%333%n/an/a