---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-23-000050"
form_type: "8-K"
ticker: "SFST"
cik: "0001090009"
company_name: "SOUTHERN FIRST BANCSHARES INC"
filed_at: "2023-01-24T23:59:59+00:00"
generated_at: "2026-06-20T10:29:42.084259+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001206774-23-000050
- form_type: 8-K
- ticker: SFST
- cik: 0001090009
- company_name: SOUTHERN FIRST BANCSHARES INC
- filed_at: 2023-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090009/000120677423000050/0001206774-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090009/000120677423000050/southernfirst4154951-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-23-000050
- JSON: https://secwatch.observer/filing/0001206774-23-000050.json
- Plain text: https://secwatch.observer/filing/0001206774-23-000050.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090009/000120677423000050/0001206774-23-000050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.