Southern First Q3 net income $8.4M ($1.04 EPS); loans up 27% YoY to $3.0B

SOUTHERN FIRST BANCSHARES INC

2022-Q3 EPS reported $2.93 revenue$3,907,000

Net income $8.4M vs $14.0M in Q3 2021; diluted EPS $1.04 vs $1.75.
Net interest income rose 14.8% to $25.5M; net interest margin fell to 3.19% from 3.38%.
Total loans $3.03B (+27% YoY); total deposits $3.00B (+23% YoY).
Provision for credit losses $950k (vs reversal of $6.0M in Q3 2021); net recoveries $1.6M.
Nonperforming assets/total assets 0.08% vs 0.50% a year ago; classified asset ratio improved to 5.24%.

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