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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 0.12%, up 2 bps year over year; NIM at 2.97%.
  • Asset quality: problem loans at 0.28% of loans (-61 bps YoY), with net recoveries of 0.01%.
  • 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 (quarter, annualized)

0.12%+2 bps YoY

Net Interest Margin (quarter, annualized)

2.97%+16 bps YoY

Efficiency Ratio (quarter, annualized)

91.32%+54 bps YoY

Tier 1 Leverage Ratio

8.18%-84 bps YoY

NIM

5.81%Q2 ’245.60%Q2 ’255.70%Q2 ’26+4%+6%

Non-interest income vs. expense

2.83%Q2 ’242.77%Q2 ’253.03%Q2 ’26+6%+6%

Discrete quarter, annualized.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.16%0.26%0.23%0.10%0.24%0.40%0.09%0.12%+2 bps
Return on Equity1.86%3.08%2.70%1.16%2.91%4.74%1.14%1.48%+32 bps
Net Interest Margin2.94%2.99%2.99%2.81%3.21%3.14%2.93%2.97%+16 bps
Efficiency Ratio87.77%84.66%85.32%90.78%85.86%87.98%91.97%91.32%+54 bps
Non-Interest Burden2.55%2.50%2.51%2.53%2.72%2.73%2.67%2.68%+15 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 / Loans0.01%0.88%0.14%0.03%0.14%0.10%-0.05%-0.01%-4 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