secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2021-10-26T23:59:59+00:00
Accession:  0001206774-21-002648
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677421002648/0001206774-21-002648-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677421002648/sfb3974021-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-21-002648

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer