Southern First Q1 net income falls to $2.5M from $2.7M YoY; NIM compresses to 1.94%

SOUTHERN FIRST BANCSHARES INC

2024-Q1 EPS reported $0.31 revenue$1,164,000

Net income $2.5M ($0.31 diluted EPS) vs $2.7M ($0.33) Q1 2023 and $4.2M ($0.51) Q4 2023.
Net interest margin 1.94% vs 2.36% YoY; improved 2 bps from Q4 2023's 1.92%.
Total loans $3.64B (+6.6% YoY); total deposits $3.46B (+1.0% YoY).
Nonperforming assets 0.09% of assets; no provision for credit losses; net charge-offs 0.03% annualized.
Efficiency ratio worsened to 84.94% from 76.12% a year ago; noninterest expense $18.1M.

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-month period ended March 31, 2024 results: net income $2.5 million, EPS $0.31.

Period: the three-month period ended March 31, 2024
Net income: $2.5 million
EPS: $0.31
Result: reported results

Exact text from the filing

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

View on SEC.gov

499 earnings releases filed in the last 30 days. Browse all earnings releases →

SOUTHERN FIRST BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0001206774-24-000377

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.