Southern First Q4 net income plunges 54% to $5.5M; EPS $0.68 vs $1.49 a year ago

SOUTHERN FIRST BANCSHARES INC

2022-FY EPS reported $3.61 revenue$4,198,000

Q4 2022 net income $5.5M ($0.68 diluted EPS) vs $12.0M ($1.49) in Q4 2021, down 54%.
Total loans grew 31% YoY to $3.3B; deposits up 22% to $3.1B; loan-to-deposit ratio 104.5%.
Net interest margin fell to 2.88% from 3.35% a year ago, pressured by 425 bps Fed rate hikes.
Provision for credit losses $2.3M vs reversal of $4.2M in Q4 2021, reflecting loan growth.
Nonperforming assets remained low at 0.07% of assets; book value per share $36.76, +5% YoY.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOUTHERN FIRST BANCSHARES INC reported Quarter Ended December 31, 2022 results: revenue 25,826, net income $ 5,492, EPS 0.68.

Period: Quarter Ended December 31, 2022
Revenue: 25,826
Net income: $ 5,492
EPS: 0.68
Result: reported results

Exact text from the filing

Net income available to common shareholders $ 5,492 8,413 7,240 7,970 12,005 Earnings per common share, diluted 0.68 1.04 0.90 0.98 1.49 Total revenue (1) 25,826 28,134 27,149 26,091 26,194

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Source: SEC EDGAR

accession 0001206774-23-000050

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