secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2024-01-18T23:59:59+00:00
Accession:  0001206774-24-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677424000023/0001206774-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677424000023/sfst4287851-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-24-000023

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