earnings
confidence high
sentiment neutral
materiality 0.65
Southern First Q2 net income $7.2M ($0.90 diluted EPS); loans up 26% YoY to $2.8B
SOUTHERN FIRST BANCSHARES INC
2022-Q2 EPS reported
$1.88
revenue$2,678,000
- Net income $7.2M ($0.90 diluted EPS) vs $10.3M ($1.29) in Q2 2021; net interest income up 16.1% to $24.9M.
- Loans grew 26% YoY to $2.8B; deposits up 24% to $2.9B; book value per share $35.39 (+11%).
- NIM 3.35% (down 15 bps YoY); mortgage banking income dropped $1.4M vs Q2 2021.
- Provision for credit losses $1.8M vs reversal of $1.9M in Q2 2021; allowance 1.20% of loans.
- Nonperforming assets at 0.09% of total assets, improved from 0.27% a year ago.