State Profile South Carolina

Fourth Quarter 2023

ECONOMIC INDICATORS (NOT SEASONALLY ADJUSTED, UNLESS NOTED)

Q4-23 Q3-23 Q4-22 2023 2022

2.9% 2.4% 3.5% 2.8% 4.1%

Employment Growth Rates (% change from year ago, unless noted)

Total Nonfarm (share of trailing four quarter employment in parentheses)

Manufacturing

Other (non-manufacturing) Goods-Producing

Private Service-Providing

Government

Unemployment Rate (% of labor force, seasonally adjusted)

(11%)

(5%)

(67%)

(16%)

0.9%

5.3%

3.4%

1.3%

3.0%

0.0%

3.0%

3.0%

1.2%

2.9%

3.4%

3.1%

4.3%

0.4%

3.2%

0.8%

3.4%

3.5%

1.3%

3.0%

4.6%

3.4%

5.1%

0.1%

3.2%

Other Indicators (% change of 4-qtr moving total, unless noted) Q4-23 2023 2022

Single-Family Home Permits

Multifamily Building Permits

Home Price Index (change from year ago)

Nonbusiness Bankruptcy Filings per 1000 people (quarterly annualized level)

-4.4%

-31.7%

8.3%

N/A

-11.9%

-21.4%

7.8%

0.75

-11.6%

24.0%

16.7%

0.69

-4.4%

-31.7%

9.2%

N/A

-11.6%

24.0%

20.8%

0.67

BANKING TRENDS

General Information Q4-23 Q3-23 Q4-22 2023 2022

Institutions (#) 45 45 46 45 46

Total Assets (in millions) $58,468 $57,554 $54,440 $58,468 $54,440

New Institutions (# < 3 years) 0 0 0 0 0

Subchapter S Institutions (#) 5 5 5 5 5

Asset Quality Q4-23 Q3-23 Q4-22 2023 2022

Past-Due and Nonaccrual Loans / Total Loans (median %) 0.79 0.51 0.50 0.79 0.50

Noncurrent Loans / Total Loans (median %) 0.23 0.30 0.20 0.23 0.20

Loan and Lease Allowance / Total Loans (median %) 1.13 1.11 1.15 1.13 1.15

Loan and Lease Allowance / Noncurrent Loans (median multiple) 4.29 4.35 5.17 4.29 5.17

Net Loan Losses / Total Loans (median %, year-to-date annualized) 0.00 0.00 0.00 0.00 0.00

Capital / Earnings (year-to-date annualized, unless noted) Q4-23 Q3-23 Q4-22 2023 2022

Tier 1 Leverage (median %, end of period) 10.02 9.90 10.03 10.02 10.03

Return on Assets (median %) 0.79 0.80 0.91 0.79 0.91

Pretax Return on Assets (median %) 0.97 1.01 1.17 0.97 1.17

Net Interest Margin (median %) 3.37 3.45 3.22 3.37 3.22

Yield on Earning Assets (median %) 4.52 4.45 3.49 4.52 3.49

Cost of Funding Earning Assets (median %) 1.13 0.97 0.25 1.13 0.25

Provisions to Avg. Assets (median %) 0.04 0.03 0.02 0.04 0.02

Noninterest Income to Avg. Assets (median %) 0.47 0.47 0.44 0.47 0.44

Overhead to Avg. Assets (median %) 2.41 2.39 2.40 2.41 2.40

Liquidity / Sensitivity Q4-23 Q3-23 2023

Net Loans to Assets (median %) 66.60 67.31 62.58 66.60 62.58

Noncore Funding to Assets (median %) 9.60 8.89 4.72 9.60 4.72

Long-term Assets to Assets (median %, call filers) 43.68 43.82 42.07 43.68 42.07

Brokered Deposits (number of institutions) 19 18 12 19 12

Brokered Deposits to Assets (median % for those above) 4.88 4.69 1.93 4.88 1.93

Loan Concentrations

(median % of Tier 1 Capital plus the Reserve for Loan and Lease Losses) Q4-23 Q3-23 Q4-22 2023 2022

Commercial and Industrial 35 38 36 35 36

Commercial Real Estate 223 224 231 223 231

Construction & Development 47 46 52 47 52

Multifamily Residential Real Estate 8 7 8 8 8

Nonresidential Real Estate 156 155 161 156 161

Residential Real Estate 197 193 159 197 159

Consumer 15 15 15 15 15

Agriculture 2 3 3 2 3

BANKING PROFILE

Asset Distribution

< $100 million 6 (13.3%)

Institutions in Market

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Charlotte-Concord-Gastonia, NC-SC 49 $382,302

Largest Deposit Markets (from 2023 Summary of Deposits) Deposits ($ millions) Institutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits ($ millions) Per

Employment Growth Rates (% change from year ago, unless noted)

Total Nonfarm (share of trailing four quarter employment in parentheses)

Manufacturing

Other (non-manufacturing) Goods-Producing

Private Service-Providing

Government

Unemployment Rate (% of labor force, seasonally adjusted)

Q3-23 Q4-22

Q4-22 2022

Columbia, SC 26 $26,491 $100 million to $250 million 8 (17.8%)

Greenville-Anderson, SC 39 $25,987 $250 million to $1 billion 22 (48.9%)

Charleston-North Charleston, SC 35 $20,967 $1 billion to $10 billion 8 (17.8%)

Myrtle Beach-Conway-North Myrtle Beach, SC-NC 22 $13,790 $10 billion 1 (2.2%)