Southern First Q4 net income $4.2M ($0.51 EPS); net interest margin narrows to 1.92%

SOUTHERN FIRST BANCSHARES INC

2023-FY EPS reported $1.66 revenue$4,036,000

Net income $4.2M in Q4 2023, down from $5.5M in Q4 2022; diluted EPS $0.51 vs $0.68.
Full-year net income $13.4M ($1.66 EPS) vs $29.1M ($3.61 EPS) in 2022.
Net interest margin (tax-equivalent) fell to 1.92% from 2.88% a year ago due to rising deposit costs.
Total loans grew to $3.60B (up 10% YoY); total deposits $3.38B (up 8% YoY).
Nonperforming assets to total assets remained low at 0.10%; allowance for credit losses 1.13% of loans.

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 the three and twelve months ended December 31, 2023 results: net income Net income was $4.2 million, EPS $0.51 per diluted share.

Period: the three and twelve months ended December 31, 2023
Net income: Net income was $4.2 million
EPS: $0.51 per diluted share
Result: reported results

Exact text from the filing

On January 18, 2024, Southern First Bancshares, Inc., holding company for Southern First Bank, issued a press release announcing its financial results for the period ended December 31, 2023.

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SOUTHERN FIRST BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0001206774-24-000023

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