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Southern Bank

Spartanburg, SC · Cert 16288 · Southern Financial Corp.

State charter, non-member · FDIC · 8 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks under $1B in assets operating regionally3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets operating regionally (n=94). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

5

Q2 2024Q2 2026peer median (50)

Asset Quality

61

Q2 2024Q2 2026peer median (50)

Profitability

4

Q2 2024Q2 2026peer median (50)

Liquidity

54

Q2 2024Q2 2026peer median

Efficiency

7

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Southern Bank

Spartanburg, SC · Cert 16288 · Southern Financial Corp.

State charter, non-member · FDIC · 8 branches

Q2 2026

$407.9MAssets
$265.1MLoans
$358.4MDeposits
$32.1MEquity
Loan mix
88%RE $225.8M11%C&I $27.6M1%Consumer $3.2MQ3 2024Q2 2026
Deposit mix
90%Interest-bearing $321.3M10%Noninterest $37.1MQ3 2024Q2 2026

Market Position · Spartanburg, SC · 2026 SOD (annual) · 1.8% share · #13 of 22 inst. · $0.1B of $6.6B

1.9% Spartanburg
0.4% Greenville
14.3% Burke
0.4% Horry

Executive Summary

  • Earnings: ROA of 0.10%, down 6 bps year over year; NIM at 2.91%.
  • Asset quality: problem loans at 0.28% of loans (-61 bps YoY), with net recoveries of 0.03%.
  • Capital: tier 1 leverage ratio of 8.18%, down 84 bps from a year ago.
  • Funding: loans stand at 73.97% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

0.10%-6 bps YoY

Net Interest Margin (YTD, annualized)

2.91%+7 bps YoY

Efficiency Ratio (YTD, annualized)

91.64%+364 bps YoY

Tier 1 Leverage Ratio

8.18%-84 bps YoY

NIM

5.63%Q2 ’245.55%Q2 ’255.56%Q2 ’26+9%+2%

Non-interest income vs. expense

2.74%Q2 ’242.74%Q2 ’252.96%Q2 ’26+3%+7%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.12%0.16%0.23%0.16%0.19%0.24%0.09%0.10%-6 bps
Return on Equity1.56%1.99%2.70%1.93%2.25%2.91%1.14%1.31%-62 bps
Net Interest Margin2.65%2.68%2.99%2.85%2.92%2.93%2.93%2.91%+7 bps
Efficiency Ratio91.20%89.43%85.32%88.00%87.23%87.43%91.97%91.64%+364 bps
Non-Interest Burden2.39%2.37%2.51%2.47%2.52%2.53%2.67%2.64%+17 bps
Growth
Asset Growth (YoY)25.45%14.63%10.33%10.10%8.82%9.85%18.69%16.43%+634 bps
Loan Growth (YoY)17.02%7.40%12.51%7.60%10.72%19.58%24.79%25.04%+1,744 bps
Deposit Growth (YoY)20.52%11.35%5.45%8.72%7.58%10.16%21.08%19.90%+1,118 bps
Asset Quality
Nonperforming Loans / Loans0.60%0.34%0.33%0.89%0.16%0.14%0.12%0.28%-61 bps
Net Charge-Offs / Loans0.10%0.30%0.14%0.09%0.10%0.10%-0.05%-0.03%-11 bps
Allowance / Loans1.17%1.05%1.04%1.07%1.02%1.01%1.00%1.02%-5 bps
Allowance Coverage of NPLs1.9x3.0x3.2x1.2x6.4x7.4x8.6x3.7x+2.5x
Capital
Tier 1 Leverage Ratio9.54%9.38%9.33%9.02%9.13%9.06%8.36%8.18%-84 bps
Total Risk-Based Capital9.54%9.38%9.33%9.02%9.13%9.06%8.36%8.18%-84 bps
Equity / Assets8.53%8.32%8.45%8.16%8.47%8.47%7.75%7.88%-28 bps
Liquidity & Funding
Loans / Deposits70.60%68.66%71.76%70.93%72.67%74.53%73.97%73.97%+304 bps
Liquid Assets / Assets0.73%0.68%0.58%2.06%2.31%3.82%6.45%5.53%+347 bps
CRE / Total Capitaln/an/an/an/a438%459%488%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Southern Bank

Spartanburg, SC · Cert 16288 · Peer group: banks under $1B in assets operating regionally (n=94) · Southern Financial Corp.

State charter, non-member · FDIC · 8 branches

Q2 2026

$407.9MAssets
$265.1MLoans
$358.4MDeposits
$32.1MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 66% of banks under $1B in assets operating regionally (rank 33 of 94).
  • Widest gap: total risk-based capital ratio trails 99% of banks under $1B in assets operating regionally (rank 93 of 94).
  • Overall: at or above the peer median on 2 of 9 directional measures.

Return on Assets

0.10%

Rank 91 of 94

Net Interest Margin

2.91%

Rank 88 of 94

Efficiency Ratio

91.64%

Rank 88 of 94

Equity / Assets

7.88%

Rank 83 of 94

Non-interest income vs. expense

$1.3M$12.1MINCOMEEXPENSE
Unfavorable gap of $10.8M · efficiency ratio beats 7% of banks under $1B in assets operating regionally
Bank 91.64%Peer median 62.4%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets0.10%0.82%1.19%1.46%Beats 3%91 / 94
Return on Equity1.28%7.85%11.84%14.03%Beats 3%91 / 94
Net Interest Margin2.91%3.42%3.81%4.18%Beats 6%88 / 94
Efficiency Ratio91.64%55.99%62.41%73.02%Beats 7%88 / 94
Asset Quality
Nonperforming Loans / Loans0.28%0.19%0.47%1.14%Beats 66%33 / 94
Net Charge-Offs / Loans0.01%0.00%0.02%0.05%Beats 56%42 / 94
Capital
Tier 1 Capital Ratio8.18%10.28%11.95%15.07%Beats 1%93 / 94
Total Risk-Based Capital Ratio8.18%10.31%12.59%15.88%Beats 1%93 / 94
Equity / Assets7.88%8.98%10.21%11.41%Beats 12%83 / 94
Liquidity & Funding
Loans / Deposits73.97%72.62%84.44%94.55%26th pctl70 / 94
Loans / Assets64.99%62.50%72.84%78.99%29th pctl67 / 94
Brokered Deposits / Depositsn/aNot reported for this institution