Welcome to our dedicated page for Southern First news (Ticker: SFST), a resource for investors and traders seeking the latest updates and insights on Southern First stock.
Southern First Bancshares, Inc. (NASDAQ: SFST) is the bank holding company for Southern First Bank, a commercial banking institution based in Greenville, South Carolina. This news page aggregates press releases and media coverage related to SFST, with a focus on the company’s financial performance, balance sheet trends, and strategic developments in its Southeastern markets.
Readers can find detailed quarterly and annual earnings announcements that outline net income, net interest income, net interest margin, loan and deposit balances, asset quality metrics, and capital ratios. Management commentary in these releases discusses themes such as margin expansion, funding costs, loan growth or deliberate balance sheet positioning, and the performance of core deposits. The company also highlights noninterest income sources, including mortgage banking income, service fees on deposit accounts, and ATM and debit card income.
In addition to financial results, Southern First Bancshares issues news about governance and leadership, such as appointments to its Board of Directors and executive team roles including Chief Financial Officer, Chief Retail Experience Officer, and Chief Credit Officer. These updates provide context on how the company is building its leadership bench to support growth, risk management, and client service.
Because Southern First Bank operates in markets across South Carolina, North Carolina, and Georgia, its news often references local economic conditions, community involvement, and opportunities arising from banking industry consolidation. Investors and observers can use this page to follow SFST’s ongoing narrative around relationship banking, asset quality, and strategic positioning. For those tracking SFST stock, this news feed offers a consolidated view of the company’s latest disclosures and corporate announcements.
Southern First Bancshares, Inc. (NASDAQ: SFST) has appointed Chris Zych as Chief Financial Officer, bringing 30 years of banking industry experience. Zych will focus on investor relationships and financial strategy to drive growth and success. Southern First Bank, the company's wholly-owned subsidiary, operates in multiple locations across the Southeast.
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Southern First Bancshares, Inc. (NASDAQ: SFST) reported financial results for Q1 2023, highlighting a net income of $2.7 million and diluted earnings per share of $0.33. Total deposits surged 27% to $3.4 billion, while total loans increased by 28% to the same amount compared to Q1 2022. The book value per share rose to $37.16, up 6% year-over-year. Despite these positive metrics, net income decreased by $2.8 million from the previous quarter, largely due to rising interest expenses driven by the Federal Reserve's interest rate hikes. Noninterest income showed a slight rise to $2.0 million, though it remains lower than the prior year. The company increased its provision for credit losses to $1.8 million. The net interest margin experienced a notable drop to 2.36%, reflecting the challenging interest rate landscape.
Southern First Bancshares, Inc. (NASDAQ: SFST) has announced the appointment of Andy Borrmann as Chief Financial Officer and Executive Vice President, effective April 3, 2023. Borrmann brings nearly 30 years of financial industry experience, having served as CFO at SouthCrest Bank and SouthCrest Financial Group. His background includes over a decade as a bank analyst at SunTrust Robinson Humphrey and Morgan Keegan. CEO Art Seaver praised Borrmann's adept management and strong investor relationships. Borrmann expressed enthusiasm for joining the institution, highlighting the "limitless" opportunities ahead for Southern First.
Southern First Bancshares, Inc. (NASDAQ: SFST) has announced the opening of its new Dream Mortgage Center in Columbia, South Carolina. This center aims to enhance homeownership opportunities by providing a supportive environment for community members, featuring mortgage lending experts, homebuyer education courses, and community events. The facility, located at 452 Killian Road, is strategically positioned in a high-traffic area to foster lasting relationships with potential homeowners. The CEO, Art Seaver, highlighted that this initiative is a significant investment in the local market and underscores the company's commitment to improving access to homeownership.
Southern First Bancshares (SFST) reported its Q4 2022 results, revealing a net income of $5.5 million, down from $12.0 million in Q4 2021. Diluted EPS was $0.68, a decline from $1.49 year-over-year.
Total loans surged 31% to $3.3 billion, while deposits rose 22% to $3.1 billion. Book value per share increased by 5% to $36.76. The net interest margin decreased to 2.88% from 3.35% due to rising interest expenses. The provision for loan losses was $2.3 million, reflecting a growing loan portfolio.
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