Beach First National Bancshares, Inc. 3 for 2 Stock Split Trades Ex-Dividend


MYRTLE BEACH, S.C., Dec. 28, 2006 (PRIME NEWSWIRE) -- Beach First National Bancshares, Inc., (Nasdaq:BFNB) announces that December 22, 2006 is the ex-dividend date for the previously announced 3-for-2 stock split. The additional shares were distributed on December 21, 2006 to shareholders of record as of December 1, 2006.

Beach First National Bancshares is listed on the NASDAQ Global Market under the stock symbol BFNB and CUSIP 073334. Approximately 1,589,000 additional shares were distributed to existing shareholders bringing the total outstanding shares to approximately 4,769,000 shares. The December 21, 2006 closing share price of $26.40 and all historical share prices and outstanding share amounts will be adjusted for the effect of the stock split.

A table reporting the most recent five-year and three-quarter share and per share data is included for reference purposes while the various online financial databases update their data over the next few days or weeks.

Beach First National Bancshares, Inc. (BFNB) is the parent of Beach First National Bank, a $492.0 million financial company headquartered in Myrtle Beach, South Carolina, the Grand Strand's only locally owned community bank. Beach First operates six banking locations in Myrtle Beach, Surfside Beach, North Myrtle Beach, Pawleys Island, and Hilton Head Island, South Carolina, and offers a full line of banking products and services, including NetTeller internet banking. The company's website is beachfirst.com.

The Beach First National Bank logo is available at http://media.primezone.com/prs/single/?pkgid=703

Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, such as a downturn in the economy, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.

Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.



                     For the Most Recent Five Years
                Amounts in thousands except per share data

                     2005       2004       2003       2002       2001
                 -----------------------------------------------------
 Net Income          3,360      1,436      1,009        707        459
 Average Shares
  Basic              3,976      3,016      2,967      1,978      1,485
  Diluted            4,111      3,134      3,023      1,987      1,501
 Net Income Per
  Share ($)
  Basic               0.85       0.48       0.34       0.36       0.31
  Diluted             0.82       0.46       0.33       0.36       0.31
 At December 31 ($)
  Assets           397,389    242,091    165,093    118,409     63,204
  Shareholder's
   Equity           39,125     16,333     14,733     13,928     13,149
  Book Value per
   share              8.22       5.41       7.42       7.04       6.65
  Outstanding
   Shares        4,754,937  3,020,262  1,985,652  1,977,552  1,977,552
 Performance
  Ratios (%)
  Return on Equity   11.37       9.10       7.05       5.24       3.97
  Return on Assets    1.08       0.70       0.70       0.75       0.62
  Net Interest
   Margin             4.60       4.30       4.51       4.88       4.34


          For the Most Recent Three Quarters (Unaudited)
            Amounts in thousands except per share data
                                             2006
 ---------------------------------------------------------------
                                Third       Second       First 
                               Quarter      Quarter     Quarter

 Net Income                       1,730       1,423       1,212
 Average Shares
  Basic                           4,768       4,761       4,758
  Diluted                         4,882       4,875       4,865
 Net Income Per Share ($)
  Basic                             .36         .30         .25
  Diluted                           .35         .29         .25
 At Quarter-end ($)
  Assets                        492,036     461,859     426,709
  Shareholder's Equity           43,576      40,820      40,080
  Book Value per share             9.14        8.57        8.42
  Outstanding Shares          4,768,512   4,761,762   4,761,687


             For the Most Recent Three Quarters (Unaudited)
                       For the period ending
                            9/30/2006     6/30/2006      3/31/2006
 -----------------------------------------------------------------
 Performance Ratios (%)
  Return on Equity             13.93         12.88          12.02
  Return on Assets              1.30          1.22           1.17
  Net Interest Margin           4.57          4.50           4.42


            

Contact Data