SOUTHERN FIRST BANCSHARES INC
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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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.
Sep 30, 2024 · Filed Nov 1, 2024
SFST$60.82+2.6%Stored close · as of Nov 9, 2026
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Consolidated Balance Sheets
***SOUTHERN FIRST BANCSHARES, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
| September 30, | December 31, | |
|---|---|---|
| (dollars in thousands, except share data) | 2024 | 2023 |
| (Unaudited) | (Audited) | |
| ASSETS | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | $25,289 | 28,020 |
| Federal funds sold | 226,110 | 119,349 |
| Interest-bearing deposits with banks | 9,176 | 8,801 |
| Total cash and cash equivalents | 260,575 | 156,170 |
| Investment securities: | ||
| Investment securities available for sale | 134,597 | 134,702 |
| Other investments | 19,640 | 19,939 |
| Total investment securities | 154,237 | 154,641 |
| Mortgage loans held for sale | 8,602 | 7,194 |
| Loans | 3,619,556 | 3,602,627 |
| Less allowance for credit losses | (40,166) | (40,682) |
| Loans, net | 3,579,390 | 3,561,945 |
| Bank owned life insurance | 53,663 | 52,501 |
| Property and equipment, net | 90,158 | 94,301 |
| Deferred income taxes, net | 11,595 | 12,200 |
| Other assets | 16,411 | 16,837 |
| Total assets | $4,174,631 | 4,055,789 |
| LIABILITIES | ||
| Deposits | $3,518,825 | 3,379,564 |
| FHLB advances and related debt | 240,000 | 275,000 |
| Subordinated debentures | 24,903 | 36,322 |
| Other liabilities | 64,365 | 52,436 |
| Total liabilities | 3,848,093 | 3,743,322 |
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock, par value $.01 per share, 10,000,000 shares authorized | - | - |
| Common stock, par value $.01 per share, 20,000,000 shares authorized, 8,156,097 shares issued and outstanding at September 30, 2024; 10,000,000 shares authorized, 8,088,186 shares issued and outstanding at December 31, 2023. | 82 | 81 |
| Nonvested restricted stock | (4,219) | (3,596) |
| Additional paid-in capital | 124,288 | 121,777 |
| Accumulated other comprehensive loss | (9,063) | (11,342) |
| Retained earnings | 215,450 | 205,547 |
| Total shareholders’ equity | 326,538 | 312,467 |
| Total liabilities and shareholders’ equity | $4,174,631 | 4,055,789 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.