SOUTHERN FIRST BANCSHARES INC

For the period ended Mar 31, 2024. Filed Apr 30, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed Apr 30, 2024

SFST$60.43-0.6%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

*(Unaudited)

	For the three months
	ended March 31,
(dollars in thousands, except share data)	2024	2023
Interest income
Loans	$45,605	36,748
Investment securities	1,478	613
Federal funds sold and interest-bearing deposits with banks	1,280	969
Total interest income	48,363	38,330
Interest expense
Deposits	26,932	17,179
Borrowings	2,786	727
Total interest expense	29,718	17,906
Net interest income	18,645	20,424
Provision for (reversal of) credit losses	(175)	1,825
Net interest income after provision for (reversal of) credit losses	18,820	18,599
Noninterest income
Mortgage banking income	1,164	622
Service fees on deposit accounts	387	325
ATM and debit card income	544	555
Income from bank owned life insurance	377	332
Other income	192	210
Total noninterest income	2,664	2,044
Noninterest expenses
Compensation and benefits	10,857	10,356
Occupancy	2,557	2,457
Outside service and data processing costs	1,846	1,629
Insurance	955	689
Professional fees	618	660
Marketing	369	366
Other	898	947
Total noninterest expenses	18,100	17,104
Income before income tax expense	3,384	3,539
Income tax expense	862	836
Net income	$2,522	2,703
Earnings per common share
Basic	$0.31	0.34
Diluted	0.31	0.33
Weighted average common shares outstanding
Basic	8,110,249	8,025,876
Diluted	8,141,921	8,092,270

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.