Follow-on Offering of Common Stock
NASDAQ: FFCH
September 2009
Filed Pursuant to Rule 433
Issuer Free Writing Prospectus dated September 21, 2009
Relating to Preliminary Prospectus Supplement dated September 21, 2009
Registration Statement No. 333-154722

1
Forward-looking Statements
The
Company
has
filed
a
registration
statement
(including
a
prospectus)
and
a
related
prospectus
supplement
with
the
SEC
for
the
offering
to
which
this
communication
relates.
Before
you
invest,
you
should
read
the
prospectus,
the
prospectus
supplement
and
other
documents
the
issuer
has
filed
with
the
SEC
for
more
complete
information
about
the
issuer
and
this
offering. 
You
may
get
these
documents
for
free
by
visiting
EDGAR
on
the
SEC
website
at
www.sec.gov.
Alternatively,
the
Company,
any
underwriter,
or
any
dealer
participating
in
the
offering
will
arrange
to
send
you
the
prospectus
if
you
request
it
by
calling
Sandler
O’Neill
&
Partners,
L.P.
toll
free
at
(866)
805-4128.
The
Private
Securities
Litigation
Report
Act
of
1995
provides
a
"safe
harbor"
for
certain
forward-looking
statements.
This
presentation
contains
forward-looking
statements
with
respect
to
the
Company’s
financial
condition,
results
of
operations,
plans,
objectives,
future
performance
or
business.
These
forward-looking
statements
are
subject
to
certain
risks
and
uncertainties,
including
those
identified
below,
which
could
cause
future
results
to
differ
materially
from
historical
results
or
those
anticipated.
The
words
"believe,"
"expect,"
"anticipate,"
"intend,"
"estimate,"
"goals,"
"would,"
"could,"
"should"
and
other
expressions
which
indicate
future
events
and
trends
identify
forward-looking
statements.
We
caution
readers
not
to
place
undue
reliance
on
these
forward-looking
statements,
which
is
based
only
on
information
actually
known
to
the
Company,
speak
only
as
of
their
dates,
and
if
no
date
is
provided,
then
such
statements
speak
only
as
of
today. 
There
are
a
number
of important
factors
that
could
cause
future
results
to
differ
materially
from
historical
results
or
those
anticipated,
including,
but
not
limited
to:
the
credit
risks
of
lending
activities,
including
changes
in
the
level
and
trend
of
loan
delinquencies
and
write-offs
and
changes
in
our
allowance
for
loan
losses
and
provision
for
loan
losses
that
may
be
impacted
by
deterioration
in
the
housing
and
commercial
real
estate
markets;
changes
in
general
economic
conditions,
either
nationally
or
in
our
market
areas;
changes
in
the
levels
of
general
interest
rates,
and
the
relative
differences
between
short
and
long
term
interest
rates,
deposit
interest
rates,
our
net
interest
margin
and
funding
sources;
fluctuations
in
the
demand
for
loans,
the
number
of
unsold
homes,
land
and
other
properties
and
fluctuations
in
real
estate
values
in
our
market
areas;
the
accuracy
of
the
results
of
our
internal
stress
test
and
the
assumptions
we
used
to
derive
such
results;
results
of
examinations
of
us
by
the
Office
of
Thrift
Supervision
or
the
Federal
Deposit
Insurance
Corporation
or
other
regulatory
authorities,
including
the
possibility
that
any
such
regulatory
authority
may,
among
other
things,
require
us
to
increase
our
reserve
for
loan
losses,
write-down
assets,
change
our
regulatory
capital
position
or
affect
our
ability
to
borrow
funds
or
maintain
or
increase
deposits,
which
could
adversely
affect
our
liquidity
and
earnings;
legislative
or
regulatory
changes
that
adversely
affect
our
business
including
changes
in
regulatory
policies
and
principles,
or
the
interpretation
of
regulatory
capital
or
other
rules;
further
increases
in
premiums
for
deposit
insurance;
our
ability
to
control
operating
costs
and
expenses;
the
use
of
estimates
in
determining
fair
value
of
certain
of
our
assets,
which
estimates
may
prove
to
be
incorrect
and
result
in
significant
declines
in
valuation;
difficulties
in
reducing
risk
associated
with
the
loans
on
our
balance
sheet;
staffing
fluctuations
in
response
to
product
demand
or
the
implementation
of
corporate
strategies
that
affect
our
workforce
and
potential
associated
charges;
computer
systems
on
which
we
depend
could
fail
or
experience
a
security
breach;
our
ability
to
retain
key
members
of
our
senior
management
team;
costs
and
effects
of
litigation,
including
settlements
and
judgments;
our
ability
to
implement
our
branch
expansion
strategy;
our
ability
to
successfully
integrate
any
assets,
liabilities,
customers,
systems,
and
management
personnel
we
have
acquired
or
may
in
the
future
acquire
into
our
operations
and
our
ability
to
realize
related
revenue
synergies
and
cost
savings
within
expected
time
frames
and
any
goodwill
charges
related
thereto;
changes
in
premiums
or
claims
that
adversely
affect
our
insurance
segment;
increased
competitive
pressures
among
financial
services
companies;
changes
in
consumer
spending,
borrowing
and
savings
habits;
the
availability
of
resources
to
address
changes
in
laws,
rules,
or
regulations
or
to
respond
to
regulatory
actions;
our
ability
to
pay
dividends
on
our
common
stock;
adverse
changes
in
the
securities
markets;
inability
of
key
third-party
providers
to
perform
their
obligations
to
us;
changes
in
accounting
policies
and
practices,
as
may
be
adopted
by
the
financial
institution
regulatory
agencies
or
the
Financial
Accounting
Standards
Board,
including
additional
guidance
and
interpretation
on
accounting
issues
and
details
of
the
implementation
of
new
accounting
methods;
other
economic,
competitive,
governmental,
regulatory,
and
technological
factors
affecting
our
operations,
pricing,
products
and
services;
future
legislative
changes
in
the
TARP
Capital
Purchase
Program
and
other
risks
described
elsewhere
in
the
Company’s
reports
filed
with
the
Securities
and
Exchange
Commission,
including
the
Annual
Report
on
Form
10-K
for
the
fiscal
year
ended
September
30,
2008,
the
Company’s
quarterly
reports
on
Form
10-Q,
other
documents
and
the
prospectus
supplement
filed
with
the
SEC
on
September
21,
2009.

2
Non-GAAP Measures
This
presentation
contains
certain
financial
information
determined
by
methods
other
than
in
accordance
with
Generally
Accepted
Accounting
Principles
(“GAAP”).
These
non-GAAP
financial
measures
calculated
using
GAAP
amounts
include
tangible
common
equity,
tangible
assets
and
pre-tax,
pre-provision
earnings.
We
calculate
tangible
equity
by
excluding
the
balance
of
goodwill
and
intangible
assets
from
our
calculation
of
shareholders’
equity.
We
calculate
tangible
common
equity
by
excluding
the
balance
of
preferred
equity
from
tangible
equity.
We
calculate
tangible
assets
by
excluding
the
balance
of
goodwill
and
other
intangible
assets
from
total
assets.
We
believe
that
this
is
consistent
with
the
treatment
by
the
Office
of
Thrift
Supervision,
our
bank
regulatory
agency,
which
excludes
goodwill
and
other
intangible
assets
from
the
calculation
of
risk-based
capital
ratios.
Accordingly,
management
believes
that
these
non-GAAP
financial
measures
provide
information
to
investors
that
is
useful
in
understanding
the
basis
of
our
risk-based
capital
ratios.
We
calculate
pre-tax,
pre-provision
earnings
by
adding
provision
for
loan
losses
to
income
before
income
taxes.
Management
believes
pre-
tax,
pre-provision
earnings
is
useful
in
assessing
the
Company’s
core
performance
and
trends,
particularly
during
periods
of
economic
stress. 
These
non-GAAP
financial
measures
are
supplemental
and
are
not
a
substitute
for
any
analysis
based
on
GAAP
financial
measures.
Because
not
all
companies
use
the
same
calculation
of
tangible
equity,
tangible
common
equity,
tangible
assets
and
pre-tax,
pre-provision
earnings,
this
presentation
may
not
be
comparable
to
other
similarly
titled
measures
as
calculated
by
other
companies. 
A
reconciliation
of
the
non-GAAP
measures
to
the
nearest
GAAP
measure
is
provided
in
the
appendix
to
this
presentation.
We
have
not
reconciled
tangible
common
equity
and
tangible
assets
to
the
extent
such
numbers
are
presented
on
a
forward-looking
basis
based
on
management’s
internal
stress
test
or
SCAP
methodology.
Estimates
that
would
be
required
for
the
reconciliation
cannot
reliably
be
produced
without
unreasonable
effort.

3
Offering Summary
15%
Over-Allotment Option:
Approximately 2,842,524
(1)
Number of Shares:
Keefe, Bruyette & Woods, Inc.
Scott & Stringfellow
FIG Partners, LLC
Co-Managers:
Sandler O’Neill + Partners, L.P.
Sole Book Running Manager:
General Corporate Purposes
Use of Proceeds:
Approximately 14,542,509
(1)
Pro Forma Shares Outstanding:
Approximately $50 million
Transaction Size:
Common Stock –
Effective Shelf Registration
Type of Offering:
FFCH / NASDAQ (GSM)
Ticker / Exchange:
First Financial Holdings, Inc.
Issuer:
(1)
Based
on
FFCH’s
closing
stock
price
of
$17.59
per
share
as
of
September
18,
2009
and
11,699,985
common
shares
outstanding
as
of
August 31, 2009

4
Transaction Rationale
•
Increases Tangible Common Equity ratio to 6.6%
•
Positions First Financial to take advantage of competitor dislocation and
recent management additions in commercial lending and wealth
management
•
Positions First Financial to take advantage of strategic acquisition
opportunities and FDIC-assisted transactions
•
Provides the capital flexibility to consider repayment of TARP Preferred
Stock and associated warrants

5
Strengthened Capital Position
Note:
Regulatory capital ratios are for First Federal Savings and Loan Association of Charleston (“First Federal”) as the OTS does not require its
holding company, First Financial Holdings, Inc. (“FFCH”), to maintain specific capital levels; as of June 30, 2009, First Financial Holdings, Inc. had
approximately $50.0 million of capital that could be downstreamed to First Federal
(1) Assumes a $50.0 million common equity raise with net proceeds of $46.5 million
(2)
Represents
publicly-traded
Southeast
commercial
banks
and
thrifts
with
total
assets
of
$
1.0
billion
-
$
5.0
billion;
for commercial bank peers, Tier 1 Leverage Ratio is used for Tier 1 Core Capital Ratio
Data
Source:
SNL
Financial
As of June 30, 2009
Reported
As Adjusted
(1)
Peers
(2)
Tangible Common Equity /
Tangible Assets
5.38
%
6.60
%
5.97
%
Tangible Equity /
Tangible Assets
7.20
8.40
7.81
Well -
Capitalized
Tier 1 Core Capital
5.00%
7.29
8.48
9.33
Tier 1 Risk Based Capital
6.00%
9.54
11.26
11.56
Total Risk Based Capital
10.00%
10.80
12.52
13.17

6
Corporate Profile
(1) Based on the average for the five fiscal years ending September 30, 2008
•
South Carolina’s “Most Convenient Bank”
–
$3.6 billion in Total Assets
–
Headquartered in Charleston, SC; 63 banking offices
•
Diversified business mix
-
Non-interest income approximates 38.5%
of total revenue
(1)
-
13 insurance offices / 24 brokerage offices
-
Enhanced wealth management platform
•
Disciplined credit culture throughout
75-year history
-
Recent enhancements to historically strong credit
administration
•
Strategic April 2009 FDIC-assisted transaction
-
Cape Fear Bank, Wilmington, NC
-
8
branches
and
$303.0
million
in
deposits
-
$28.9 mm Q3’09 gain and protection against future credit
losses
•
Experienced management team
-
Important new hires
First Financial Holdings, Inc.
Retail Banking Offices (47)
In-Store Offices (16)
First Southeast Insurance Services (12)
Kimbrell Insurance Group (1)
First Southeast Investor Services (24)

7
Experienced Management Team
•
Officer
and
Director
ownership
equals
6.8%
(1)
Name
Position
Age
Years of
Financial
Services
Experience
Relevant
Experience
A. Thomas Hood
President and Chief Executive Officer
63
34
Joined First Federal in 1975
R. Wayne Hall
Executive
Vice
President
-
Chief
Financial
Officer
59
23
EVP / CRO at Provident Bank
Joseph W. Amy
Executive
Vice
President
-
Chief
Credit
Officer
60
35
Credit positions at Mellon and
Fifth Third Bank
Charles F. Baarcke, Jr.
Executive
Vice
President
-
Chief
Lending
Officer
-
CRE
63
34
Joined First Federal in 1975
J. Dale Hall
Executive
Vice
President
-
Chief
Lending
Officer
-
C&I
61
39
Bank of America
John L. Ott, Jr.
Executive
Vice
President
-
Retail
Banking
61
38
Joined First Federal in 1971
(1) Based on December 12, 2008 Company Proxy statement. Ownership includes common stock and options exercisable within 60 days

8
Highly Attractive Markets
Note:
(1) Beaufort County, South Carolina
(2) FFCH Banking Markets consist of the 3 North Carolina and 7 South Carolina counties
(3) Weighted average based on FDIC deposit data as of June 30, 2008
Data Source:
9.54%
15.95%
17.76%
5.53%
12.04%
12.20%
7.27%
8.66%
0%
5%
10%
15%
20%
Charleston
MSA
Wilmington
MSA
Myrtle Beach
MSA
Georgetown
County
Hilton
Head (1)
All FFCH
Markets (2)
SC
NC
2009 –
2014 Projected Growth Rate in Number of Households
4.79%
US Average
FDIC deposit data as of June 30, 2008
SNL Financial
Population
645,729
359,383
264,423
62,931
157,963
1,623,376
4,524,760
9,370,242
Projected Population Growth
8.31
%
14.66
%
16.22
%
4.08
%
11.64
%
11.00
%
6.10
%
8.13
%
Median Household Income ($) (3)
$
51,624
$
50,477
$
46,996
$
45,158
$
62,527
$
50,838
$
48,210
$
51,418
Projected Median HHI Growth (3)
5.41
%
4.07
%
4.10
%
6.12
%
1.16
%
4.53
%
4.74
%
4.31
%
Total Deposits in Market ($mm)
$9,095
$5,852
$5,681
$1,140
$3,360
$26,944
$66,549
$218,507
First Federal Deposits ($mm)
$1,215
$440
$306
$94
$93
$2,305
$1,865
$440
Market Share %
13.36
%
7.51
%
5.39
%
8.23
%
2.76
%
8.50
%
2.80
%
0.20
%
Market Share Rank
3
5
10
5
14
4
8
39

9
Leading Market Share
•
Market disruption is a key opportunity…
June '08
June '08
Charleston MSA
Headquarters
Total
Assets
(1)
Total
Deposits
Market
Share
June '07
Market
Share
% of
Total
Deposits
Total Deposit
1
Wells Fargo & Co.
San Francisco, CA
$
1,284,176
$
2,268
24.9
%
26.7
%
0.3
%
Market =
2
Bank of America Corp.
Charlotte, NC
2,254,394
1,219
13.4
14.5
0.2
$
9,095
3
First Financial Holdings Inc.
Charleston, SC
3,607
1,215
13.4
13.0
52.7
4
Synovus Financial Corp.
Columbus, GA
34,350
599
6.6
7.3
2.3
5
First Citizens Bancorp.
Columbia, SC
7,099
519
5.7
5.6
8.8
6
BB&T Corp.
Winston-Salem, NC
152,398
444
4.9
5.2
0.4
7
Tidelands Bancshares Inc
Mount Pleasant, SC
824
420
4.6
3.8
86.2
8
Carolina Financial Corporation
Charleston, SC
1,132
414
4.6
3.8
49.9
9
Southcoast Financial Corp.
Mount Pleasant, SC
520
377
4.2
3.6
100.0
10
South Financial Group Inc.
Greenville, SC
12,588
228
2.5
3.3
2.3
Top 10 Institutions
$
7,704
84.7
%
86.9
%
June '08
June '08
Wilmington MSA
Headquarters
Total
Assets
(1)
Total
Deposits
Market
Share
June '07
Market
Share
% of
Total
Deposits
Total Deposit
1
BB&T Corp.
Winston-Salem, NC
$
152,398
$
1,535
26.2
%
26.0
%
1.5
%
Market =
2
Wells Fargo & Co.
San Francisco, CA
1,284,176
830
14.2
14.7
0.1
$
5,852
3
Bank of America Corp.
Charlotte, NC
2,254,394
605
10.3
10.3
0.1
4
First Citizens BancShares Inc.
Raleigh, NC
17,318
583
10.0
10.9
4.1
5
First Financial Holdings Inc.
Charleston, SC
3,607
440
7.5
7.2
19.1
6
First Bancorp
Troy, NC
3,518
432
7.4
6.7
15.7
7
RBC Bancorporation
Raleigh, NC
29,938
342
5.9
5.8
1.9
8
Security Savings Bank SSB
Southport, NC
422
247
4.2
3.9
82.3
9
SunTrust Banks Inc.
Atlanta, GA
176,735
175
3.0
3.3
0.2
10
NewBridge Bancorp
Greensboro, NC
2,065
151
2.6
3.1
8.9
Top 10 Institutions
$
5,340
91.2
%
92.0
%
(1) Financial information as of June 30, 2009
Note:
           
        SNL Financial
Data Source:
Dollars in millions

10
Cape Fear Transaction
•
On April 10, 2009, First Federal acquired certain of the assets and
assumed certain of the liabilities of Cape Fear Bank in Wilmington, NC
through an FDIC-assisted transaction
–
8 branches in the NC counties of New Hanover, Pender and Brunswick
–
$387.0
million
of
loans;
$303.0
million
in
deposits
(1)
•
Transaction terms
–
Deposit Premium: 1.0%
–
Asset Discount: $74.0 million
•
Loss-sharing agreement and purchase accounting adjustments
–
Covered Assets: $395.4 million
–
Loss Threshold: $110.0 million with First Loss Tranche of $31.5 million
–
FDIC Indemnification Asset: $60.4 million (net of $8.7 million discount)
–
Total
Fair
Value
Adjustment
on
Covered
Assets:
$113.4
million
–
Maximum
First
Federal
exposure:
$14.3
million
–
Pre-tax gain: $47.7 million ($28.9 million capital impact in Q2 ’09)
(1) Based on Cape Fear book balance as of April 10, 2009

11
Cape Fear Transaction
•
Integration milestones since April
–
Converted Cape Fear to First Federal’s system within 120 days
–
Grew
customer
deposits
by
approximately
$70
million
by
June
30
th
–
Hired
38-yr
Bank
of
America
veteran
as
EVP
and
CLO
-
C&I
–
Other key hires in banking, wealth management and brokerage
–
High employee retention
–
Consolidated branch network to six branches
–
Two new In-store Financial Centers planned for mid-October
•
Long-term business opportunities
–
Significant market dislocation resulting from distracted competitors
–
Significant improvements in products and services in the Wilmington
market
Mortgage lending along coastal North Carolina
Business lending, Insurance services, Brokerage / Trust services
Wealth management

Loan Portfolio and Credit Quality

13
Thorough Credit Risk Management
•
Credit analysis with 100% of loans underwritten internally
•
Quarterly independent 3
rd
party loan reviews
–
40% -
60% dollar coverage; sampling includes all loan types
•
Further enhancing credit management process
–
New Chief Credit Officer hired September 1, 2009
–
Credit Policy revised June 2009 to implement more stringent underwriting
guidelines, including dual signature approval
•
Experienced loss mitigation team
–
Senior manager proactively coordinating loan workout strategies
–
Mortgage resolution support on 1-4 family
–
Problem Asset Review process to review action plans and monitor progress
•
Establishment of Credit Risk Management Department
–
Central portfolio credit risk reporting
–
Portfolio concentration management

14
Loan
Composition
–
June
30,
2009
Note:
Dollars in millions
(1)
Covered
loans
represent
those
acquired
in
the
Cape
Fear
Bank
FDIC-assisted
transaction
that
are
subject
to
a
Loss-sharing
Agreement
with the FDIC
2%
13%
2%
7%
7%
5%
29%
35%
Non-
Covered
Covered
(1)
Total
% of
Portfolio
Real Estate - Residential
$
890
$
40
$
930
34.9
%
Real Estate - Construction
45
12
57
2.1
Commercial Real Estate
336
6
342
12.9
Commercial Construction
43
4
47
1.8
Commercial Business
92
104
196
7.4
Land - Residential
135
53
188
7.0
Land - Commercial
105
14
119
4.5
Total Consumer
746
38
785
29.4
Home Equity
362
33
395
14.8
Manufactured Housing
239
--
239
9.0
Marine
78
0
78
2.9
Credit Cards
17
--
17
0.6
Other
51
5
56
2.1
Total Loans
$
2,393
$
271
$
2,664
100.0
%
Loan Composition
Real Estate -
Residential
Real Estate -
Construction
Commercial Real Estate
Commercial Construction
Commercial Business
Land -
Residential
Land -
Commercial
Total Consumer

15
Loan
Composition
–
June
30,
2009
Note:
(1) LTVs at time of origination
Dollars in thousands
Real Estate -
Residential
Real Estate -
Construction
Commercial Real
Estate
Commercial
Construction
Commercial
Business
Land -
Residential
Land -
Commercial
Total
Consumer
Noncovered
Loans
Outstanding Balance
$
889,477
$
45,051
$
336,593
$
43,436
$
91,793
$
134,615
$
104,807
$
746,812
Average Loan Amount
132
455
395
1,143
56
158
896
27
68.7%
74.6%
57.7%
66.6%
30.9%
75.5%
68.2%
36.1%
>=91%
14%
2
%
3
%
3
%
13%
6
%
5
%
15%
80% to 90%
28
48
22
21
9
51
23
19
51% to 79%
36
45
41
58
9
31
51
11
=<50%
22
5
34
18
69
12
21
55
Fixed Rate
55%
38%
85%
63%
41%
89
%
52%
54%
Variable Rate
45
62
15
37
59
11
48
46
Consumer
Home
Equity
Manufactured
Housing
Marine
Credit Cards
Other
Noncovered
Loans
Outstanding Balance
$
361,589
$
238,549
$
77,642
$
16,949
$
52,083
Average Loan Amount
58
38
17
--
5
23.9
%
84.6
%
74.6
%
--
16.7%
>=91%
--
39
%
30
%
--
5
%
80% to 90%
3
38
37
--
8
51% to 79%
8
18
16
--
6
=<50%
89
5
17
--
81
Fixed Rate
--
100
%
100
%
--
39%
Variable Rate
100
--
--
100
61
LTV
Distribution:
(1)
Weighted-Average-LTV
(1)
LTV Distribution:
(1)
Weighted-Average-LTV
(1)

16
Credit Quality –
June 30, 2009
Total
Total
Total
ALLL /
YTD
YTD NCOs/
Portfolio
Delinquent
(1)
Nonaccrual
NPLs
(2)
% NPLs
ALLL
Loans
NCOs
Avg Loans
Real Estate - Residential
$
929,706
$
12,215
$
22,305
$
22,305
2.40
%
$
4,576
0.49
%
$
474
0.07
%
Real Estate - Construction
56,788
404
7,381
7,381
13.00
4,409
7.76
3,314
6.85
Commercial Real Estate
342,349
2,682
3,394
3,394
0.99
7,586
2.22
154
0.06
Commercial Construction
47,445
--
2,265
2,265
4.77
1,053
2.22
--
--
Commercial Business
196,307
1,187
736
736
0.37
7,342
3.74
2,730
3.39
Land - Residential
187,797
5,866
10,333
10,333
5.50
6,054
3.22
3,128
2.78
Land - Commercial
118,940
2,756
10,991
10,991
9.24
10,027
8.43
1,110
1.20
Consumer
Home Equity
394,961
3,522
6,226
6,226
1.58
4,538
1.15
2,769
1.03
Manufactured Housing
238,549
2,925
2,275
2,275
0.95
3,383
1.42
1,819
1.05
Marine
77,818
992
169
169
0.22
2,725
3.50
1,845
3.12
Credit Cards
16,949
376
--
153
0.90
1,000
5.90
585
4.74
Other
56,388
604
225
225
0.40
1,806
3.20
1,297
3.23
Total
$
2,663,997
$
33,529
$
66,300
$
66,453
2.49
%
$
54,499
2.05
%
$
19,225
1.02
%
Note:
(1) Consists of $33.4 million of 30-89 days past due loans and $153,000 of 90+ days past due loans
(2)
Includes
loans
90+
days
past
due
but
still
accruing
interest
and
nonaccrual
loans
Dollars in thousands

17
Credit Quality –
Peer Comparison
FFCH
Peer Median
(1)
Note:
(1)
Represents
publicly-traded
Southeast
commercial
banks
and
thrifts
with
total
assets
of
$
1.0
billion
-
$
5.0
billion
Data Source:
SNL Financial
0.51%
0.29%
0.21%
2.20%
0.34%
0.64%
2.14%
0.84%
0.28%
0.23%
0.35%
3.63%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
NPAs / Assets
NCOs / Average Loans
0.32%
0.29%
0.22%
0.21%
0.37%
1.02%
0.22%
0.13%
0.12%
0.17%
0.58%
1.11%
0.00%
0.25%
0.50%
0.75%
1.00%
1.25%
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
Financial
information
based
on
respective
companies’
fiscal
year
end
dates

18
Credit Quality –
SCAP Analysis
Note:
Represents the mid-point of the indicative loss rates under each scenario as per Board of Governors of the Federal Reserve System (2009) “The Supervisory Capital
Assessment Program: Overview of Results”
(1) Analysis assumes that FFCH’s exposure to potential losses from the Cape Fear transaction are covered by the fair value adjustments recorded in connection with the
transaction; see Appendix page 37
Dollars in thousands
Balance as of 12/31/08
SCAP -
Baseline
SCAP -
More Adverse
Loan Type
$MM
%
%
$MM
%
$MM
Commercial & Industrial
$95.6
4.0
3.5
$3.3
6.5
$6.2
CRE
Nonfarm, Non-residential
343.2
14.4
4.5
15.4
8.0
27.5
Construction
141.0
5.9
10.0
14.1
16.5
23.3
Multifamily
28.2
1.2
5.0
1.4
10.5
3.0
Subtotal CRE
512.4
21.6
6.0
31.0
10.5
53.7
First Lien Mortgages
1,026.5
43.2
5.5
56.5
7.8
79.6
Second/Junior Lien Mortgages
Closed-end Junior Liens
18.5
0.8
19.0
3.5
23.5
4.3
HELOCs
344.5
14.5
7.0
24.1
9.5
32.7
Credit Cards
16.8
0.7
14.5
2.4
19.0
3.2
Other Consumer
361.5
15.2
5.0
18.1
10.0
36.2
Other Loans
0.0
0.0
3.0
0.0
7.0
0.0
Total
$2,375.8
100.0
$138.9
$215.9
Losses as a % of 12/31/08 Gross Loans
5.8%
9.1%
Estimated Credit Losses as of December 31, 2008
$138.9
$215.9
Less: 1/1/09 -
6/30/09 Net Charge-Offs
(16.3)
(16.3)
Estimated Credit Losses on Legacy Portfolio (7/1/09 -
12/31/10)
(1)
$122.6
$199.6

19
Credit Quality –
SCAP Analysis
Balance as of 12/31/08
Management Estimates
Actual Losses: June 30, 2009
Loan Type
$MM
%
%
$MM
Q3'09
YTD
Real Estate - Residential
$
882.9
37.2
1.0
%
$
9.2
0.10
%
0.07
%
Real Estate - Construction
68.0
2.9
13.0
%
8.8
12.79
%
6.85
%
Commercial Real Estate
314.5
13.2
4.8
%
15.2
0.03
%
0.01
%
Commercial Construction
39.4
1.7
5.3
%
2.1
--
--
Commercial Business
95.6
4.0
15.4
%
14.7
2.77
%
3.39
%
Land - Residential
145.8
6.1
8.3
%
12.1
6.34
%
2.78
%
Land - Commercial
107.0
4.5
18.7
%
20.1
2.84
%
1.20
%
Total Consumer
Home Equity
344.5
14.5
2.6
%
9.1
1.18
%
1.03
%
Manufactured Housing
227.7
9.6
3.0
%
6.8
1.22
%
1.05
%
Marine
79.9
3.4
6.8
%
5.5
5.15
%
4.74
%
Credit Cards
16.8
0.7
11.9
%
2.0
1.98
%
3.12
%
Other Consumer
53.8
2.3
6.7
%
3.6
1.49
%
3.23
%
Total Loans
$
2,375.8
100.0
%
4.6
%
$
109.0
1.43
%
1.02
%
Estimated Credit Losses as of December 31, 2008
$109.0
Less: 1/1/09 - 6/30/09 Net Charge-Offs
(16.3)
Estimated Credit Losses on Legacy Portfolio (7/1/09 - 12/31/10)
(1)
$92.7
Note:
(1) Analysis assumes that FFCH’s exposure to potential losses from the Cape Fear transaction are covered by the fair value adjustments recorded in connection with the
transaction; see appendix 37
Management Assumptions
Dollars in thousands; FFCH financial information based on savings institution level data

20
Credit Quality –
SCAP Analysis
Note:
Dollars in thousands
(1)
Targeted
ALLL
/
Loans
as
of
December
31,
2010
based
on
gross
loans
(HFI)
as
of
June
30,
2009
reduced
by
the
estimated
credit
losses
under
the
SCAP Analysis
(2)
Per
management.
Assumes
Pretax,
Pre-Provision
Income
is
based
on
the
following
assumptions:
Q4'09
is
equal
to
Q3'09
actual
($20.4
million);
FY
2010 equals $74.4
million; Q1'11 equals 1/4 of the FY 2010 estimate
(3) Based on Q3'09 impact
(4) Analysis assumes that the net proceeds from the capital raise plus $35.0 million of existing liquid assets at FFCH is downstreamed to First Federal
Assumptions:
Gross Proceeds
$50,000
Net Proceeds
$46,500
Targeted ALLL / Loans (12/31/10) (1)
2.00%
Pretax, Pre-provision Income (2)
$113,405
Effective Tax Rate
37%
Quarterly TARP Preferred Dividend (3)
$945
Quarterly Common Stock Dividend per Share
$0.05
Existing Liquid Assets Downstreamed
$35,000
Reported
Capital Raise
Stress Test Analysis
06/30/09
06/30/09
Management
Baseline
More Adverse
SCAP Analysis -  Est. Credit Losses
--
--
$92,707
$122,606
$199,574
Consolidated
Tangible Equity / Tangible Assets
7.2%
8.4%
8.5%
8.1%
6.8%
Tangible Common Equity / Tangible Assets
5.4%
6.6%
6.8%
6.3%
5.0%
Thrift-Level (4)
Tier 1 Core Capital Ratio (5%)
7.3%
9.4%
9.5%
9.0%
7.8%
Tier Risk-Based Capital Ratio (6%)
9.5%
12.6%
12.8%
12.1%
10.3%
Total Risk-Based Capital Ratio (10%)
10.8%
13.8%
14.0%
13.3%
11.6%

21
(1) As of June 30, 2009
(2) FDIC-Insured financial institutions with assets between $1.0 billion and $10.0 billion
(3) Delinquency levels are for FFCH loans secured by 1-4 residential properties
Credit Quality –
SCAP Analysis
% of
(1)
March 2009 Delinquencies
June 2009 Delinquencies
FFCH Loans
FDIC
(2)
FFCH
FDIC
(2)
FFCH
30 to 89 Days
(3)
All loans secured by real estate
34.58
%
1.91
%
1.59
%
1.55
%
1.33
%
Construction, development and land
15.43
3.35
2.37
2.50
2.20
Nonfarm nonresidential
11.47
1.28
0.65
1.12
0.85
Multifamily residential real estate
1.38
1.82
0.30
2.04
0.23
Home equity loans
14.83
0.80
0.86
0.70
0.89
Other 1-4 family residential (seconds)
0.84
2.01
0.71
1.72
0.77
Commercial and industrial loans
7.37
1.10
1.05
1.01
0.60
Credit card loans
0.64
1.86
2.26
1.84
1.32
Loans to Individuals
13.47
1.85
0.93
2.09
1.21
Greater than 89 Days
(3)
All loans secured by real estate
34.58
%
4.77
%
1.90
%
5.60
%
2.38
%
Construction, development and land
15.43
12.75
7.66
15.37
7.54
Nonfarm nonresidential
11.47
2.13
0.69
2.61
0.93
Multifamily residential real estate
1.38
4.90
1.86
5.68
1.53
Home equity loans
14.83
0.98
1.39
0.97
1.58
Other 1-4 family residential (seconds)
0.84
2.95
2.00
3.57
2.65
Commercial and industrial loans
7.37
2.00
0.65
2.35
0.37
Credit card loans
0.64
2.26
0.11
1.92
0.90
Loans to Individuals
13.47
1.02
0.60
1.22
0.68

Deposits and Investments

23
Deposit Mix –
June 30, 2009
Balance
Weighted
Average
Rate
Non-interest Bearing
$
203,354
--
Interest Bearing
339,878
0.46
%
Statement
145,541
0.45
Money Market
341,209
1.02
FFCH
870,329
2.93
Cape Fear
214,159
1.55
Customer CDs
1,084,488
2.66
CDARs
101,131
1.67
Others
125,454
2.14
Brokered
226,585
1.93
Total Deposits
$
2,341,055
1.66
%
Note:
Deposit Mix
•
Utilize Brokered CD market when cost-
efficient
•
Liquid loan portfolio provides borrowing
capacity
Non-interest Bearing
Interest Bearing
Statement
Money Market
Customer CDs -
FFCH
Customer CDs -
Cape Fear
Brokered -
CDARs
Brokered -
Others
6%
15%
37%
9%
4%
5%
9%
15%
Dollars in thousands

24
Core Deposit Initiatives
•
South Carolina’s “Most Convenient Bank”
–
Seven-day a week banking
–
Extended banking hours
–
Member of nationwide surcharge-free ATM network
•
Innovative deposit products and services
–
Moolah Checking
–
In-school banking programs
•
Multiple distribution channels
–
16 in-store financial centers
•
60% of all new checking account openings
•
In-store
average
annual
checking
account
growth
of
17%
(1)
–
Internet banking capabilities
–
Introducing mobile banking in calendar Q4’09
•
Deposit-linked compensation
–
All customer-relationship employees company wide
(1)
Average
annual
growth
from
June
2004
–
June
2009

25
Investment Portfolio –
June 30, 2009
Note:
Dollars in millions
(1) Excludes FHLB stock
•
57% fixed / 43% variable
•
Tax equivalent yield: 5.36%
•
Weighted average life: 19.6 years; Modified duration: 3.3 years
Below
Gross
Investment
Book
Market
OCI
OTTI
AAA
AA
A
BBB
Grade
Private Label/CMO
$
375.7
$
383.9
$
8.2
($0.7)
$
273.9
$
14.0
$
12.4
$
40.8
$
34.6
100% Bank Trust Pref CDO
11.7
7.5
(4.2)
(1.2)
11.7
Corporate
7.6
5.9
(1.7)
2.0
1.0
4.6
Agency MBS
124.7
126.9
2.2
Agency CMO
11.4
11.6
0.2
Treasury/Agency
3.7
3.7
Municipal
21.8
22.8
2.9
10.5
6.7
0.9
0.8
Total (1)
$
556.6
$
562.3
$
4.7
($1.9)
$
276.8
$
24.5
$
21.1
$
42.7
$
51.7
•
Private label / CMO
–
2003-2005 vintages
–
All but 4 securities are in super senior or senior tranches (4 are in mezzanine)
•
Bank trust preferred CDOs
–
<$1 Million; all are in mezzanine tranche

Financial Results

27
History of Strong Financial Performance
$44,013
$45,651
$47,744
$47,915
$24,554
$26,225
$27,629
$25,072
$22,638
($419)
$53,936
$45,611
($10,000)
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
Net Income –
Common Shareholders
Pretax, Pre-Provision Earnings
FFCH Diluted EPS
$
1.92
$
2.09
$
2.27
$
2.07
$
1.94
($0.04)
$1,729
Net Income
Pre-TARP
Dividend
Note:
Dollars in thousands, except per share data

28
Net Interest Margin
•
Historically stable NIM driven by strong asset / liability process
•
Improving trends due to lower cost of funds and Cape Fear transaction
•
Future upside due to greater pricing power and C&I lending strategy
3.38%
3.32%
3.35%
3.36%
3.23%
3.35%
3.56%
3.48%
3.48%
3.64%
4.16%
3.28%
3.08%
3.24%
3.57%
3.61%
3.65%
3.77%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
FY-04
FY-05
FY-06
FY-07
Q1-08
Q2-08
Q3-08
Q4-08
Q1-09
Q2-09
Q3-09
FFCH
Peer Median (1)
FY-08
FY-09
(1) Represents publicly-traded Southeast commercial banks and thrifts with total assets of $ 1.0 billion - $ 5.0 billion
           
        SNL Financial
Data Source:

29
Non-Interest
Income
Note:
Dollars
in
thousands
(1) Based on the average for the five fiscal years ending September 30, 2008
•
Non-interest
income
/
total
revenue
=
38.5%
(1)
•
YTD 2009 decline: economic factors impacting businesses + higher NIM
•
Future initiatives: Expanding insurance business in Wilmington and
enhanced wealth management platform franchise-wide
$40,440
$47,364
$51,955
$53,217
$62,882
$38,871
$51,828
30.7%
40.8%
39.1%
39.5%
34.6%
38.3%
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Non-Interest Income
% of Total Revenue
Annualized

30
Fee Based Services
YTD 2009
FY 2008
2006
2007
2008
2009
FY
FY
FY
YTD
Commissions on Insurance
$
20,792
$
22,046
$
24,830
$
18,747
Deposit Service Charges and Fees
20,266
21,566
23,901
16,636
Mortgage Banking Income
4,989
4,255
7,456
5,398
Trust / Brokerage Fees
3,607
3,628
3,896
2,244
Credit Card Fee Income
759
796
858
589
Total Fee Income
$
50,413
$
52,291
$
60,941
$
43,614
Total Non-Interest Income
$
51,955
$
53,217
$
62,882
$
38,871
38%
12%
5%
1%
43%
39%
12%
6%
1%
41%
Deposit Service Charges
Mortgage
Insurance
Trust/ Brokerage Fees
Credit Card
               Dollars in thousands
Note:

31
$
17,514
$
20,012
$
20,792
$
22,046
$
24,830
$
18,747
$24,996
14.8%
16.0%
16.0%
15.5%
14.7%
15.9%
$
0
$
10,000
$
20,000
$
30,000
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
0.0%
5.0%
10.0%
15.0%
20.0%
Insurance Revenues
% of Total Revenues
Insurance Operations
•
Successful acquiror of well-respected, highly-profitable Southeastern
insurance agencies
•
Ranked 4
th
nationally for contribution of insurance operations to total net
income
(1)
•
Major carriers represented: Allstate, Chubb, Hartford, Selective, Travelers
•
51% P&C –
Commercial;  33% P&C –
Personal; 17% Life & Health
(2)
Insurance Rev./
Non-Int. Inc.
41.5
%
40.6
%
40.0
%
41.4
%
39.5
%
48.2
%
Annualized
(1) Bank Insurance and Securities Association, November 2008
(2) Based on insurance commissions for the twelve months ending June 30, 2009
               Dollars in thousands
Note:

32
Enhanced Wealth Management Platform
•
Deliver Banking, Brokerage, Insurance, Trust and 401K services
•
Mass
/
Select
affluent
($100,000
-
$2
million
of
investable
assets)
-
target
market aligning delivery capabilities with market demographics
•
Planned future enhancement of capabilities to capture additional
opportunities in the Select Affluent space (above $2 million)
•
Client-centric
advisory-driven
sales
model
–
team
approach
•
Concierge level service leveraging the historic legacy and reputation of the
First Federal brand

33
Efficiency Ratio
FFCH Consolidated
63.2
%
63.8
%
64.7
%
67.2
%
64.3
%
59.3
%
Peer Median (1)
64.0
62.3
62.2
63.6
68.6
72.2
Efficiency Ratio
Note:
Financial
information
based
on
respective
companies’
fiscal
year-end
dates
(1)
Represents
publicly-traded
Southeast
commercial
banks
and
thrifts
with
total
assets
of
$
1.0
billion
-
$
5.0
billion
Data Source:
SNL Financial
63.8%
64.7%
59.3%
53.1%
58.5%
61.2%
58.5%
57.9%
57.9%
63.2%
67.2%
64.3%
0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
Bank Only
Consolidated
•
Cost savings initiatives have benefited FFCH in the challenging operating
environment

34
Investment Highlights
•
Proven management team with a meaningful ownership position
•
Diversified income stream and balance sheet
•
Long-term attractive banking markets
•
Attractive expansion opportunities in banking and insurance businesses
•
Exceptional
“You’re
First”
customer
service
and
convenience
•
Core deposit growth
•
Effective management of interest-rate risk
•
Opportunities in C&I lending and wealth management

35
Market Valuation Comparison
Note:
Market information as of September 18, 2009
(1)
Represents
publicly-traded
Southeast
commercial
banks
and
thrifts
with
total
assets
of
$
1.0
billion
-
$
5.0
billion
and
a
current
market capitalization
greater than $100.0 million
(2) Assumes a common equity raise with net proceeds of $46.5 million, issued at the closing stock price of $17.59 per share as of September 18, 2009
Data Source:
SNL Financial
Current Market Price /
Tangible
Book
% of 52
Value
Wk High
First Financial Holdings, Inc.
107.0
%
42.3
%
Peer Median
(1)
152.5
58.0
SNL Southeast Bank Index
145.8
NA
First Financial Holdings, Inc. -
Pro Forma
(2)
107.1
--

Appendix

37
Cape Fear Transaction
Note:
Dollars
in
thousands;
balances
as
of
April
10,
2009
(1) Under FAS 141, fair value discount for performing loans represents interest mark only
Covered Assets:
$395,444
OREO
Performing
Loans
SOP 03-3
Impaired
Loans
Loans
Contractual Balance
$
386,819
$
274,515
Contractual Balance
$
216,173
$
170,646
Fair Value Discount
(1)
(12,116)
(85,343)
Accretable Yield (SOP 03-3)
--
(10,713)
Allowance for Loan Losses
(4,132)
--
Fair Value of Loans Acquired, Net
$
199,925
$
74,590
Cape Fear Book Balance
$
8,625
Fair Value Adjustment
(1,083)
Fair Value
$
7,542
FFCH
Potenital
FFCH
Exposure
Losses ($mm)
Losses
First Loss Tranche
100
%
$0 - $31.5
$
31.5
Up to Loss Threshold
20
31.5 - 110
15.7
> Loss Threshold
5
110 - 395
14.3
$
61.5
vs.
Total FV Marks
$
113.4

38
Consumer Lending
Home Equity Loans
(1)
Manufactured Housing
•
59% of balances are first liens or
seconds to our own first liens
•
Average LTV is 71% for second
position equity lines where another
lender holds the first
(2)
•
100% variable rate (prime-based)
•
Average line amount = $79,325
•
Average home value = $316,112
(2)
•
30-day or more delinquency rate =
2.47%
•
100% in-market originations
•
100% fixed rate
•
Average loan balance = $38,340
•
Average rate = 9.29%
•
30-day or more delinquency rate =
2.18%
•
State of Origin:
SC
69
%
NC
12
FL
11
GA
6
Other
2
Net Charge-Offs / Average Loans
FY 2005
FY 2006
FY 2007
FY 2008
Q3 2009
Home Equity
0.03
%
0.01
%
0.04
%
0.27
%
1.28
%
Manufactured Housing
1.77
%
1.27
%
0.98
%
0.94
%
1.20
%
(1) All Home Equity loan data is for legacy First Federal only, excluding the 30-day or more delinquency rate
(2) Measured at the time of origination

39
Loan Composition –
June 30, 2009
Note:
Dollars
in
thousands
(1)
Covered
loans
represent
those
acquired
in
the
Cape
Fear
Bank
FDIC-assisted
transaction
that
are
subject
to
a
Loss-sharing Agreement with the FDIC
(2) LTVs at time of origination
•
Covered Loans: $271 million
(1)
Commercial
Consumer
Real Estate -
Residential
Real Estate -
Construction
Real Estate and
Construction
Commercial
Business
Land
Total
Consumer
Home
Equity
Marine
Covered Loans
Outstanding Balance
$
40,229
$
11,737
$
9,764
$
104,514
$
67,313
$
37,853
$
33,372
$
176
Average Loan Amount
150
152
160
148
190
32
66
15
Weighted Average LTV
(2)
71.6
%
75.7
%
58.8
%
64.7
%
67.0
%
70.7
%
65.8
%
74.2%
LTV Distribution:
(2)
>=91%
10
%
5
%
--
1
%
8
%
4
%
--
--
80% to 90%
27
56
17
30
13
31
30
65
51% to 79%
51
33
47
50
58
44
48
33
=<50%
12
6
36
19
21
21
22
2
Fixed Rate
74
%
24
%
82
%
80
%
64
%
94
%
2
%
82
%
Variable Rate
26
76
18
20
36
6
98
18

40
Credit Quality –
Recent Trends
Note:
Dollars in thousands
Legacy First Federal Savings and Loan
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Delinquent + Nonaccrual
Real
Estate
-
Residential
$
$
14,230
$
16,458
$
20,773
$
30,893
$
34,281
%
1.63
%
1.86
%
2.35
%
3.50
%
3.85%
Real
Estate
-
Construction
$
$
3,822
$
8,842
$
12,471
$
10,870
$
7,785
%
5.23
%
12.56
%
18.35
%
19.26
%
17.28%
Commercial Real Estate
$
$
2,550
$
1,722
$
3,243
$
5,534
$
6,076
%
0.87
%
0.56
%
1.03
%
1.72
%
1.81%
Commercial Construction
$
--
--
$
2,236
$
2,242
$
2,265
%
5.68
%
5.40
%
5.21%
Commercial Business
$
$
871
$
1,026
$
2,753
$
1,565
$
1,788
%
0.97
%
1.14
%
2.88
%
1.68
%
1.95%
Land -
Residential
$
$
5,302
$
7,817
$
13,997
$
14,035
$
16,122
%
3.65
%
5.33
%
9.60
%
9.79
%
11.98%
Land -
Commercial
$
--
$
458
$
1,082
$
5,918
$
13,747
%
0.45
%
1.01
%
5.49
%
13.12%
Home Equity
$
$
2,522
$
5,296
$
8,504
$
7,979
$
9,359
%
0.84
%
1.63
%
2.47
%
2.24
%
2.59%
Manufactured Housing
$
$
4,172
$
5,194
$
5,460
$
4,209
$
5,200
%
1.91
%
2.32
%
2.40
%
1.81
%
2.18%
Marine
$
$
375
$
1,046
$
1,625
$
804
$
1,161
%
0.45
%
1.25
%
2.03
%
1.03
%
1.50%
Credit Cards
$
$
302
$
329
$
397
$
382
$
376
%
1.91
%
2.04
%
2.36
%
2.37
%
2.22%
Other
$
$
548
$
535
$
1,080
$
601
$
811
%
0.97
%
0.94
%
2.01
%
1.17
%
1.56%
Total
$
34,694
$
48,723
$
73,621
$
85,032
$
98,971

41
Credit Quality –
Recent Trends
Note:
(1) NCOs / Loans percentages calculated on an annualized basis
Dollars in thousands
Legacy First Federal Savings and Loan
Jun-08
Sep-08
Dec-08
Mar-09
Jun-09
Net Charge-offs / Loans
(1)
Real Estate -
Residential
$
$
70
$
259
$
75
$
167
$
232
%
0.03
%
0.12
%
0.03
%
0.08
%
0.10%
Real Estate -
Construction
$
--
$
286
$
99
$
1,205
$
2,010
%
--
1.63
%
0.58
%
8.54
%
17.85%
Commercial Real Estate
$
--
--
--
$
119
$
35
%
--
--
--
0.15
%
0.04%
Commercial Construction
$
--
--
--
--
--
%
--
--
--
--
--
Commercial Business
$
$
129
$
219
$
654
$
1,130
$
946
%
0.57
%
0.98
%
2.74
%
4.86
%
4.12%
Land -
Residential
$
--
--
$
256
$
387
$
2,485
%
--
--
0.70
%
1.08
%
7.38%
Land -
Commercial
$
--
--
--
--
$
1,110
%
--
--
--
--
4.24%
Home Equity
$
$
389
$
164
$
170
$
1,446
$
1,153
%
0.52
%
0.20
%
0.20
%
1.62
%
1.28%
Manufactured Housing
$
$
459
$
668
$
448
$
654
$
717
%
0.84
%
1.20
%
0.79
%
1.13
%
1.20%
Marine
$
$
147
$
174
$
654
$
808
$
383
%
0.70
%
0.83
%
3.27
%
4.15
%
1.97%
Credit Cards
$
$
194
$
225
$
208
$
164
$
213
%
4.90
%
5.58
%
4.96
%
4.07
%
5.03%
Other
$
$
397
$
256
$
369
$
723
$
205
%
2.81
%
1.80
%
2.74
%
5.63
%
1.57%
Total
$
1,785
$
2,251
$
2,933
$
6,803
$
9,489

42
Non-GAAP Reconciliation Tables
Note:
(1)
Assume
a
$50.0
million
common
equity
raise
with
net
proceeds
of
$46.5
million
As of June 30, 2009
Reported
As Adjusted
(1)
Stockholders’ Equity
$ 293,029
$ 339,529
Goodwill
27,996
27,996
Other Intangible Assets, net
7,783
7,783
Tangible Equity
257,250
303,750
Preferred Equity
65,000
65,000
Tangible Common Equity
192,250
238,750
Total Assets
3,607,066
3,653,566
Goodwill
27,996
27,996
Other Intangible Assets, net
7,783
7,783
Tangible Assets
3,571,287
3,617,787
FY-04
FY-05
FY-06
FY-07
FY-08
YTD-09
Income Before Income Taxes
$38,338
$40,825
$42,850
$40,447
$36,997
$2,313
Add: Provision for Loan Losses
5,675
4,826
4,894
5,164
16,939
45,602
Pre-Tax, Pre-Provision Earnings
$44,013
$45,651
$47,744
$45,611
$53,936
$47,915
Dollars in thousands

43
ATLANTIC
Acceptance Corp.
KINGHORN
Insurance Services, Inc.
The
KIMBRELL
Company, Inc.
FIRST
SOUTHEAST
Insurance Services, Inc.
FIRST
SOUTHEAST
Investor Services, Inc.
SOMERS-PARDUE
Insurance Services
JOHNSON
Insurance Associates, Inc./
Benefit Administrators, Inc.