secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2022-01-25T23:59:59+00:00
Accession:  0001206774-22-000229
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q4 net income $12.0M ($1.49 EPS) vs $8.6M ($1.10) YoY; loans up 16%
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- Net income $12.0M for Q4 2021 vs $8.6M in Q4 2020; diluted EPS $1.49 vs $1.10.
- Total loans $2.49B (+16.2% YoY); deposits $2.56B (+19.7% YoY).
- Net interest margin 3.35% (tax-equivalent), down 20 bps YoY due to yield compression.
- Reversal of provision for loan losses $4.2M in Q4 vs $2.3M provision in Q4 2020.
- Expects CECL adoption on Jan 1, 2022 with retained earnings charge of $3.5M-$7.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677422000229/0001206774-22-000229-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677422000229/sfst4013201-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-22-000229

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