Southern First Bancshares, Inc. (SFST)

Southern First Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	190.79	186.86	166.14	114.23	91.6	93.13
Interest Income on Investments	13.48	14.35	11.46	3.43	1.57	1.69
Total Interest Income	204.27	201.21	177.6	117.66	93.17	94.82
Interest Paid on Deposits	101.5	108.77	91.37	18.1	3.91	13.06
Interest Paid on Borrowings	11.05	11.22	8.57	1.94	1.53	1.95
Total Interest Expense	112.54	119.99	99.94	20.04	5.44	15.01
Net Interest Income	91.73	81.22	77.65	97.62	87.73	79.81
Net Interest Income Growth (YoY)	19.78%	4.59%	-20.45%	11.27%	9.93%	18.64%
Mortgage Banking Activities	5.47	5.56	4.04	4.2	11.38	19.79
Gain (Loss) on Sale of Assets	0.03	0.03	-	-0.39	0.01	-
Gain (Loss) on Sale of Investments	-	-	-	-	-0	-
Other Non-Interest Income	4.85	4.79	4.44	4.51	4.54	6.71
Total Non-Interest Income	12.4	12.14	9.86	9.58	17.1	27.35
Non-Interest Income Growth (YoY)	10.06%	23.13%	2.92%	-43.98%	-37.48%	65.99%
Revenues Before Loan Losses	104.13	93.36	87.51	107.2	104.83	107.16
Provision for Loan Losses	1.25	0.13	1.26	6.16	-12.4	29.6
Revenue	102.88	93.24	86.25	101.05	117.23	77.56
Revenue Growth (YoY)	15.60%	8.10%	-14.64%	-13.81%	51.15%	-4.77%
Salaries and Employee Benefits	42.07	41.26	38.33	36.76	34.46	33.28
Occupancy Expenses	7.85	7.89	7.86	9.11	6.96	6.23
Federal Deposit Insurance	4.02	4.02	3.77	1.69	1.15	1.38
Selling, General & Administrative	16.61	16.24	15.27	11.99	10.61	9.22
Other Non-Interest Expense	4.2	3.91	3.6	3.39	2.88	2.4
Total Non-Interest Expense	74.75	73.33	68.83	62.93	56.43	53.74
EBT Excluding Unusual Items	28.12	19.91	17.43	38.11	60.8	23.82
Pretax Income	28.12	19.91	17.43	38.11	60.8	23.82
Income Tax Expense	6.27	4.38	4	9	14.09	5.49
Net Income	21.86	15.53	13.43	29.12	46.71	18.33
Net Income to Common	21.86	15.53	13.43	29.12	46.71	18.33
Net Income Growth	58.54%	15.67%	-53.89%	-37.67%	154.86%	-34.21%
Basic Shares Outstanding	8	8	8	8	8	8
Diluted Shares Outstanding	8	8	8	8	8	8
Shares Change (YoY)	-0.02%	0.48%	0.08%	1.03%	2.11%	0.66%
EPS (Basic)	2.71	1.92	1.67	3.66	5.96	2.37
EPS (Diluted)	2.69	1.91	1.66	3.61	5.85	2.34
EPS Growth	58.48%	15.06%	-54.02%	-38.29%	150.00%	-34.64%
Effective Tax Rate	22.29%	22.01%	22.96%	23.61%	23.18%	23.05%

Updated Jul 22, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q