Southern First Q2 net income $10.3M ($1.29 EPS), up 120% YoY; loans grow 10.7% to $2.25B

SOUTHERN FIRST BANCSHARES INC

2021-Q2 EPS reported $2.60 revenue$6,616,000

Net income $10.3M ($1.29 diluted EPS) vs $4.7M ($0.60) in Q2 2020, up 120.7% and 115%.
Total revenue $25.1M; net interest margin improved to 3.50% from 3.42% YoY.
Loans grew 10.7% to $2.254B, deposits up 5.6% to $2.31B.
Negative provision for loan losses of $1.9M vs $10.2M provision in Q2 2020.
Nonperforming assets improved to 0.27% of total assets; allowance coverage 619% of nonaccruals.

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