Southeastern Banking : Quarterly Financial Update

Quarterly Financial Update

3rd Quarter 2021

The following table presents selected consolidated financial data for the Company. This data is derived from the Company's quarterly unaudited financial statements and should be read in conjunction with the Company's annual audited financial statements and related notes. The Company's 2020 Annual Report is available online at www.edocumentview.com/sebc.

As of and for the periods ended:

(Dollars in thousands except per share data)

			Quarterly Results					Year‐to‐Date Results
Sep. 30,		Jun. 30,			Mar. 31,	Dec. 31,		Sep. 30,		Sep. 30,		Sep. 30,
2021		2021			2021			2020		2020		2021		2020

Summary of Operations: Interest income Interest expense

Net interest income

Provision for (recovery of) loan losses Other noninterest income

Other noninterest expense Net income before tax

Income tax Net income

Core Operating Earnings1:

Net income before tax

• Provision for (recovery of) loan losses ‐ Net gain (loss) on investments

‐ Net gain on sales of bank‐owned properties

• Valuation write‐downs on bank‐owned properties
• Net noninterest expense for bank‐owned properties
• • Core operating earnings1

Per Share Ratios:

Diluted earnings

Dividends

Book value at end of period

Profitability Ratios:

Return on average assets

Return on average equity

Net interest margin

Selected Quarter‐End Balances:

Total assets

Loans, net of unearned income Allowance for loan losses Investment securities, at amortized cost Deposits

Shareholders' equity Nonperforming assets:

Nonperforming loans Bank‐owned properties

Total nonperforming assets

Asset Quality Ratios:

Annualized net charge‐offs (recoveries) per quarter to quarterly average loans

Nonperforming assets to total assets Allowance for loan losses to net loans Allowance to nonperforming loans

Liquidity and Capital Ratios: Liquid assets to total assets Loans, net to total deposits

Average loans to average earning assets (quarterly)

Noninterest‐bearing deposits to total deposits Tier 1 leverage capital ratio

$ 4,665	$ 4,356	$ 4,345	$ 4,731	$ 4,265
96	96	103	119	145
4,569	4,260	4,242	4,612	4,120
‐	‐	(850)	425	150
972	995	1,015	1,041	941
3,242	3,189	3,095	3,143	3,105
2,299	2,066	3,012	2,085	1,806
441	398	595	439	346
$ 1,858	$ 1,668	$ 2,417	$ 1,646	$ 1,460

$ 2,299		$ 2,066		$ 3,012			$ 2,085		$ 1,806
	‐				‐					(850)				425					150
	‐				‐					‐			26					‐
	‐				7					88					62					33
	‐				‐					‐			19					‐
	19				17					14					8					19
$ 2,318		$ 2,076			$ 2,088			$ 2,449			$ 1,942
	$ 0.59				$ 0.53					$ 0.77					$ 0.52					$ 0.46
	0.16				0.16					0.15					0.15					0.15
	21.79				21.47					21.04					20.68					20.45
	1.24%				1.15%					1.80%					1.27%					1.15%
	10.72%				9.97%					14.91%					10.11%					9.06%
	3.25%				3.15%					3.38%					3.85%					3.50%
$600,303	$592,209	$570,198			$542,981	$505,611
282,183	272,059	271,547			264,570	270,885
	7,305				7,314					7,301					6,683					6,054
150,355	154,809	142,446			128,075	117,397
530,497	523,644	502,417			476,725	434,083
	68,669				67,635					66,293					65,165					64,448
$	826	$	804	$	832			$	1,031	$	1,104
	592				593					669					1,211					1,365
$	1,418		$	1,397			$	1,501				$	2,242			$	2,469
	0.01%				‐0.02%					‐2.25%			‐0.30%					0.08%
	0.24%				0.24%					0.26%					0.41%					0.49%
	2.59%				2.69%					2.69%					2.53%					2.23%
884.06%	909.75%	878.01%			648.05%	548.30%
	24.77%				24.60%					23.98%					23.69%					18.64%
	53.19%				51.96%					54.05%					55.50%					62.40%
	49.23%				49.73%					51.62%					56.04%					56.74%
	30.26%				30.59%					30.37%					26.82%					30.35%
	11.33%				11.39%					11.92%					12.28%					12.25%

$13,366	$12,997
295	540
13,071	12,457
(850)	750
2,982	2,600
9,526	9,269
7,377	5,038
1,434	972
$ 5,943	$ 4,066
$ 7,377	$ 5,038
(850)	750
‐	1
95	48
‐	63
50	57
$ 6,482	$ 5,859
$ 1.89	$ 1.29

0.47 0.45

21.79 20.45

1.39% 1.13%

11.82% 8.69%

3.26% 3.74%

1 Core operating earnings is a non‐GAAP (generally accepted accounting principles) measure. This alternative earnings measure is presented to highlight pre‐tax earnings capacity exclusive of credit‐related charges (e.g., provision for or recovery of loan losses, gains and losses on sales of foreclosed properties, valuation write‐downs on foreclosed properties and expenses related to carrying and disposing of foreclosed properties net of any rental income received on such properties) and any gains and losses on investment securities and other assets.