---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-23-000817"
form_type: "8-K"
ticker: "SFST"
cik: "0001090009"
company_name: "SOUTHERN FIRST BANCSHARES INC"
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T02:46:25.616655+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Southern First Q2 net income $2.5M ($0.31 EPS), down 66% YoY; NIM falls to 2.05%

## Summary
- Net income $2.5M vs $7.24M in Q2 2022; diluted EPS $0.31 vs $0.90; total revenue $21.6M down from $27.1M.
- Net interest margin (tax-equivalent) fell to 2.05% from 3.35% a year ago, driven by 301bp rise in deposit costs.
- Total loans grew 24% YoY to $3.54B; total deposits up 20% to $3.43B; core deposits down 2% from Q1.
- Credit quality remains strong: nonperforming assets 0.08% of total assets; allowance for credit losses 1.16% of loans.
- Provision for credit losses was $910K, down from $1.8M in Q1 2023; net charge-offs $425K (0.03% annualized).

## SEC filing metadata
- accession: 0001206774-23-000817
- form_type: 8-K
- ticker: SFST
- cik: 0001090009
- company_name: SOUTHERN FIRST BANCSHARES INC
- filed_at: 2023-07-25T23:59:59+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/1090009/000120677423000817/0001206774-23-000817-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090009/000120677423000817/sfst4223471-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-23-000817
- JSON: https://secwatch.observer/filing/0001206774-23-000817.json
- Plain text: https://secwatch.observer/filing/0001206774-23-000817.txt

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