Southern First Q3 2021 net income $14.0M ($1.75 EPS) up from $2.2M in Q3 2020

SOUTHERN FIRST BANCSHARES INC

2021-Q3 EPS reported $4.36 revenue$9,445,000

Net income $14.0M ($1.75 diluted EPS) vs $2.2M ($0.28) a year ago; revenue $26.4M.
Record loan growth: loans up 14.9% to $2.4B; deposits up 11.6% to $2.4B.
Loan loss reversal of $6.0M vs provision of $11.1M in Q3 2020; allowance/loans 1.51%.
Net interest margin 3.38% vs 3.50% prior quarter on yield compression; NII up 7.4% YoY.
NPAs rose to 0.50% of assets from 0.27% due to one $9.0M relationship; classified assets ratio 14.90%.

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