secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2023-01-24T23:59:59+00:00
Accession:  0001206774-23-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677423000050/0001206774-23-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677423000050/southernfirst4154951-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-23-000050

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