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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 $7.5MQ3 2024Q2 2026
Deposit mix
60%Interest-bearing $254.1M40%Noninterest $166.4MQ3 2024Q2 2026

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 1.76%, down 8 bps year over year; NIM at 4.67%.
  • 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.

Return on Assets (YTD, annualized)

1.76%-8 bps YoY

Net Interest Margin (YTD, annualized)

4.67%+6 bps YoY

Efficiency Ratio (YTD, annualized)

53.75%-89 bps YoY

Tier 1 Leverage Ratio

29.14%+75 bps YoY

NIM

5.19%Q2 ’245.17%Q2 ’255.26%Q2 ’26+2%+1%

Non-interest income vs. expense

2.93%Q2 ’242.94%Q2 ’252.75%Q2 ’26+11%+6%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.86%2.14%1.75%1.84%1.87%1.86%1.69%1.76%-8 bps
Return on Equity7.00%7.98%6.28%6.60%6.65%6.57%5.88%6.12%-49 bps
Net Interest Margin4.54%4.53%4.52%4.61%4.62%4.61%4.57%4.67%+6 bps
Efficiency Ratio53.14%53.11%56.80%54.64%54.70%55.56%54.93%53.75%-89 bps
Non-Interest Burden1.95%1.93%2.24%2.17%2.16%2.19%2.34%2.29%+13 bps
Growth
Asset Growth (YoY)-2.82%-0.68%1.20%4.86%3.89%2.13%4.88%3.50%-136 bps
Loan Growth (YoY)-2.03%-1.74%-0.31%2.08%1.10%4.17%4.44%4.39%+232 bps
Deposit Growth (YoY)-3.64%1.01%1.08%4.21%2.47%0.56%4.40%2.46%-176 bps
Asset Quality
Nonperforming Loans / Loans0.57%0.61%0.62%0.73%0.73%0.73%0.75%0.73%0 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans1.23%1.24%1.22%1.20%1.22%1.19%1.17%1.15%-5 bps
Allowance Coverage of NPLs2.2x2.0x2.0x1.7x1.7x1.6x1.6x1.6x-0.1x
Capital
Tier 1 Leverage Ratio27.42%27.83%27.99%28.39%28.58%28.78%28.76%29.14%+75 bps
Total Risk-Based Capital27.42%27.83%27.99%28.39%28.58%28.78%28.76%29.14%+75 bps
Equity / Assets27.56%27.53%28.24%28.06%28.65%28.79%28.73%28.88%+82 bps
Liquidity & Funding
Loans / Deposits123.90%119.04%123.07%121.66%122.25%123.32%123.11%123.96%+230 bps
Liquid Assets / Assets9.55%12.36%10.32%11.07%11.56%10.84%11.20%10.65%-42 bps
CRE / Total Capitaln/an/an/an/a74.19%73.68%74.93%n/an/a