SOUTHERN FIRST BANCSHARES INC
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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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, 2025 · Filed Oct 31, 2025
SFST$60.43-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
*(Unaudited)
| For the three months · For the nine months | ||||
|---|---|---|---|---|
| ended September 30, | ended September 30, | |||
| (dollars in thousands, except share data) | 2025 | 2024 | 2025 | 2024 |
| Interest income | ||||
| Loans | $50,999 | 47,550 | 147,077 | 139,700 |
| Investment securities | 1,342 | 1,412 | 4,102 | 4,308 |
| Federal funds sold and interest-bearing deposits with banks | 2,645 | 2,209 | 5,773 | 6,072 |
| Total interest income | 54,986 | 51,171 | 156,952 | 150,080 |
| Interest expense | ||||
| Deposits | 24,703 | 27,725 | 72,572 | 82,873 |
| Borrowings | 2,754 | 2,855 | 8,172 | 8,443 |
| Total interest expense | 27,457 | 30,580 | 80,744 | 91,316 |
| Net interest income | 27,529 | 20,591 | 76,208 | 58,764 |
| Provision for credit losses | 850 | - | 2,300 | 325 |
| Net interest income after provision for credit losses | 26,679 | 20,591 | 73,908 | 58,439 |
| Noninterest income | ||||
| Mortgage banking income | 1,600 | 1,449 | 4,593 | 4,536 |
| Service fees on deposit accounts | 625 | 455 | 1,731 | 1,265 |
| ATM and debit card income | 601 | 599 | 1,739 | 1,730 |
| Income from bank owned life insurance | 439 | 401 | 1,254 | 1,162 |
| Other income | 335 | 271 | 729 | 669 |
| Total noninterest income | 3,600 | 3,175 | 10,046 | 9,362 |
| Noninterest expenses | ||||
| Compensation and benefits | 11,299 | 10,789 | 34,277 | 32,936 |
| Occupancy | 2,447 | 2,595 | 7,517 | 7,704 |
| Outside service and data processing | 2,158 | 1,930 | 6,383 | 5,738 |
| Insurance | 961 | 1,025 | 2,881 | 2,945 |
| Professional fees | 605 | 548 | 1,723 | 1,748 |
| Marketing | 412 | 319 | 1,183 | 1,077 |
| Other | 1,064 | 833 | 3,153 | 2,634 |
| Total noninterest expenses | 18,946 | 18,039 | 57,117 | 54,782 |
| Income before income tax expense | 11,333 | 5,727 | 26,837 | 13,019 |
| Income tax expense | 2,671 | 1,345 | 6,328 | 3,116 |
| Net income | $8,662 | 4,382 | 20,509 | 9,903 |
| Earnings per common share | ||||
| Basic | $1.08 | 0.54 | 2.55 | 1.22 |
| Diluted | 1.07 | 0.54 | 2.54 | 1.22 |
| Weighted average common shares outstanding | ||||
| Basic | 8,030,944 | 8,064,283 | 8,048,426 | 8,100,003 |
| Diluted | 8,080,459 | 8,089,176 | 8,080,678 | 8,123,846 |
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