Southern First Q1 net income $9.9M (EPS $1.19), up 88% YoY; completes $65M stock offering

SOUTHERN FIRST BANCSHARES INC

Q1 2026 net income $9.9M, diluted EPS $1.19, up 88% and 83% YoY; NIM expanded 47bps to 2.88%.
Completed $65M common stock offering to support growth; will redeem remaining $11.5M subordinated debt.
Total loans grew $97M (10% ann. linked-qtr); deposits grew $208M (27% ann.); NPAs low at 0.26%.
Shareholders elected 16 directors, approved say-on-pay, and ratified Elliott Davis as auditor.
Plans to open new Cary, NC office in 2026; added three new directors; named Forbes Best Bank 2026.

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