Southern First Bancshares, Inc. (SFST)

Southern First Bancshares Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	184.46	166.14	114.23	91.6	93.13	88.93
Interest Income on Investments	14.76	11.46	3.43	1.57	1.69	3.72
Total Interest Income	199.22	177.6	117.66	93.17	94.82	92.65
Interest Paid on Deposits	110	91.37	18.1	3.91	13.06	23.73
Interest Paid on Borrowings	11.39	8.57	1.94	1.53	1.95	1.65
Total Interest Expense	121.39	99.94	20.04	5.44	15.01	25.38
Net Interest Income	77.82	77.65	97.62	87.73	79.81	67.27
Net Interest Income Growth (YoY)	-5.91%	-20.45%	11.27%	9.93%	18.64%	11.83%
Mortgage Banking Activities	5.41	4.04	4.2	11.38	19.79	9.92
Gain (Loss) on Sale of Assets	-	-	-0.39	0.01	-	-
Gain (Loss) on Sale of Investments	-	-	0.01	-0	-	0.73
Other Non-Interest Income	4.65	4.44	4.5	4.54	6.71	4.77
Total Non-Interest Income	11.69	9.86	9.58	17.1	27.35	16.48
Non-Interest Income Growth (YoY)	26.60%	2.92%	-43.98%	-37.48%	65.99%	61.54%
Revenues Before Loan Losses	89.52	87.51	107.2	104.83	107.16	83.75
Provision for Loan Losses	-0.65	1.26	6.16	-12.4	29.6	2.3
Revenue	90.17	86.25	101.05	117.23	77.56	81.45
Revenue Growth (YoY)	3.18%	-14.64%	-13.81%	51.15%	-4.77%	18.98%
Salaries and Employee Benefits	40.17	38.33	36.76	34.46	33.28	22.13
Occupancy Expenses	10.42	10.26	9.11	6.96	6.23	5.51
Federal Deposit Insurance	3.88	3.77	1.69	1.15	1.38	0.81
Selling, General & Administrative	13.68	12.87	11.99	10.61	9.22	7.6
Other Non-Interest Expense	3.66	3.6	3.39	2.88	2.4	8.45
Total Non-Interest Expense	71.81	68.83	62.93	56.43	53.74	44.47
EBT Excluding Unusual Items	18.36	17.43	38.11	60.8	23.82	36.98
Other Unusual Items	-	-	-	-	-	-1.5
Pretax Income	18.36	17.43	38.11	60.8	23.82	35.48
Income Tax Expense	4.29	4	9	14.09	5.49	7.62
Net Income	14.07	13.43	29.12	46.71	18.33	27.86
Net Income to Common	14.07	13.43	29.12	46.71	18.33	27.86
Net Income Growth	-4.62%	-53.89%	-37.67%	154.86%	-34.21%	24.99%
Basic Shares Outstanding	8	8	8	8	8	8
Diluted Shares Outstanding	8	8	8	8	8	8
Shares Change (YoY)	0.46%	0.08%	1.04%	2.11%	0.66%	0.45%
EPS (Basic)	1.74	1.67	3.66	5.96	2.37	3.70
EPS (Diluted)	1.73	1.66	3.61	5.85	2.34	3.58
EPS Growth	-5.48%	-54.02%	-38.29%	150.00%	-34.64%	24.31%
Effective Tax Rate	23.35%	22.96%	23.61%	23.18%	23.05%	21.48%

Source: S&P Capital IQ. Banks template. Financial Sources.