Southern First Bancshares, Inc. (SFST)

Southern First Bancshares Income Statement

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

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

Updated Mar 3, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q