---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-23-001196"
form_type: "8-K"
ticker: "SFST"
cik: "0001090009"
company_name: "SOUTHERN FIRST BANCSHARES INC"
filed_at: "2023-10-19T23:59:59+00:00"
generated_at: "2026-06-09T19:42:33.690878+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001206774-23-001196
- form_type: 8-K
- ticker: SFST
- cik: 0001090009
- company_name: SOUTHERN FIRST BANCSHARES INC
- filed_at: 2023-10-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090009/000120677423001196/0001206774-23-001196-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090009/000120677423001196/sfst4255921-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-23-001196
- JSON: https://secwatch.observer/filing/0001206774-23-001196.json
- Plain text: https://secwatch.observer/filing/0001206774-23-001196.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090009/000120677423001196/0001206774-23-001196-index.htm

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