secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2026-05-20T18:50:47+00:00
Accession:  0001206774-26-000289
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 5.07, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677426000289/0001206774-26-000289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677426000289/sfst4641091-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-26-000289

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