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First Piedmont Federal Savings and Loan Association

Gaffney, SC · Cert 28859

State savings bank · OCC · 7 branches

Q2 2026

$597.1MAssets
$521.2MLoans
$420.5MDeposits
$172.5MEquity
Loan mix
98%RE $505.6M0%C&I $0.5M1%Consumer $7.5MQ2 2025Q2 2026
Deposit mix
60%Interest-bearing $254.1M40%Noninterest $166.4MQ2 2025Q2 2026

NIM

5.39%Q2 ’245.29%Q2 ’255.38%Q2 ’26-2%+1%

Non-interest income vs. expense

2.98%Q2 ’242.89%Q2 ’252.80%Q2 ’26+13%+7%

Market Position · Spartanburg, SC · 2026 SOD (annual) · 2.2% share · #12 of 22 inst. · $0.1B of $6.6B

49.7% Cherokee
2.3% Spartanburg

Executive Summary

  • Earnings: ROA of 1.83%, down 12 bps year over year; NIM at 4.78%.
  • Asset quality: problem loans at 0.73% of loans (0 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 29.14%, up 75 bps from a year ago.
  • Funding: loans stand at 123.96% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.83%-12 bps YoY

Net Interest Margin (quarter, annualized)

4.78%+6 bps YoY

Efficiency Ratio (quarter, annualized)

52.65%+7 bps YoY

Tier 1 Leverage Ratio

29.14%+75 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.95%1.91%1.82%1.69%1.83%-12 bps
Return on Equity6.92%6.75%6.34%5.88%6.35%-57 bps
Net Interest Margin4.72%4.74%4.69%4.57%4.78%+6 bps
Efficiency Ratio52.58%54.81%58.06%54.93%52.65%+7 bps
Non-Interest Burden2.10%2.18%2.36%2.34%2.26%+15 bps
Growth
Asset Growth (YoY)4.86%3.89%2.13%4.88%3.50%-136 bps
Loan Growth (YoY)2.08%1.10%4.17%4.44%4.39%+232 bps
Deposit Growth (YoY)4.21%2.47%0.56%4.40%2.46%-176 bps
Asset Quality
Nonperforming Loans / Loans0.73%0.73%0.73%0.75%0.73%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.20%1.22%1.19%1.17%1.15%-5 bps
Allowance Coverage of NPLs1.7x1.7x1.6x1.6x1.6x-0.1x
Capital
Tier 1 Leverage Ratio28.39%28.58%28.78%28.76%29.14%+75 bps
Total Risk-Based Capital28.39%28.58%28.78%28.76%29.14%+75 bps
Equity / Assets28.06%28.65%28.79%28.73%28.88%+82 bps
Liquidity & Funding
Loans / Deposits121.66%122.25%123.32%123.11%123.96%+230 bps
Liquid Assets / Assets11.07%11.56%10.84%11.20%10.65%-42 bps
CRE / Total Capitaln/a74.19%73.68%74.93%n/an/a