secwatch.observer — SEC 8-K summary
======================================

Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2022-04-26T23:59:59+00:00
Accession:  0001206774-22-001205
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southern First Q1 net income $8.0M ($0.98 EPS); loans up 22% to $2.7B
---------------------------------------------------------------------

- Net income $8.0M, diluted EPS $0.98 vs $1.49 in Q4 2021 and $1.31 in Q1 2021.
- Total loans $2.66B, up 22% YoY; deposits $2.71B, up 20% YoY; loan growth strongest quarter in history.
- Net interest margin stable at 3.37%; net interest income $23.2M, up $307K QoQ and $1.9M YoY.
- Provision for credit losses $1.1M under new CECL methodology; $86.4M hotel loans upgraded.
- Mortgage banking income fell to $1.5M from $4.6M in prior year quarter due to lower volume.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677422001205/0001206774-22-001205-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677422001205/sfb4052661-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-22-001205

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