Southern First Q3 2023 net income $4.1M ($0.51 EPS); NIM falls to 1.97% from 3.19% YoY

SOUTHERN FIRST BANCSHARES INC

2023-Q3 EPS reported $1.15 revenue$3,167,000

Net income $4.1M ($0.51 diluted) vs $2.5M Q2 2023 and $8.4M Q3 2022.
Net interest margin (tax-equivalent) 1.97%, down 8 bps QoQ and 122 bps YoY.
Loans $3.55B (+17% YoY); core deposits flat at $2.9B; total deposits $3.35B.
Credit quality: NPAs/Assets 0.11%, net recoveries $126k; ACL/loans 1.16%.
Book value per share $37.57, up 4% YoY; CET1 ratio improved to 10.17%.

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 0.9

SOUTHERN FIRST BANCSHARES INC reported three-month period ended September 30, 2023 results: net income Net income was $4.1 million, EPS diluted earnings per common share were $0.51 for Q3 2023.

Period: three-month period ended September 30, 2023
Net income: Net income was $4.1 million
EPS: diluted earnings per common share were $0.51 for Q3 2023
Result: reported results

Exact text from the filing

On October 19, 2023, Southern First Bancshares, Inc., holding company for Southern First Bank, issued a press release announcing its financial results for the period ended September 30, 2023.

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SOUTHERN FIRST BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0001206774-23-001196

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