Southern First Q3 net income $4.4M ($0.54 EPS); net interest margin expands 10 bps to 2.08%

SOUTHERN FIRST BANCSHARES INC

2024-Q3 EPS reported $1.22 revenue$4,536,000

Net income $4.4M, diluted EPS $0.54 vs $0.37 in Q2 2024 and $0.51 in Q3 2023.
Net interest margin (tax-equivalent) 2.08%, up 10 bps from 1.98% in Q2 2024; net interest income $20.6M.
Total loans $3.62B (flat QoQ); total deposits $3.52B, up $59M from Q2 2024.
Nonperforming assets 0.28% of assets; net recoveries $9k; no provision for credit losses in Q3.
Core checking accounts grew 21% annualized; CEO cites disciplined pricing and credit standards.

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