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Southern First Bancshares, Inc. operates as the bank holding company for Southern First Bank that provides commercial, consumer, and mortgage loans to the general public in South Carolina, North Carolina, and Georgia. The company accepts various deposit products that include checking accounts, commercial checking accounts, and savings accounts, as well as other time deposits, including daily money market accounts and long-term certificates of deposit. Its loan portfolio comprises commercial real estate loans; construction real estate loans; commercial business loans for various lines of businesses, such as the manufacturing, service industry, and professional service areas; consumer real estate and home equity loans; and other consumer loans, including secured and unsecured installment loans and revolving lines of credit. In addition, the company offers other bank services, such as internet banking, cash management, safe deposit boxes, direct deposit, automatic drafts, bill payment, and mobile banking services. The company was incorporated in 1999 and is headquartered in Greenville, South Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $118M | - | $30M | $30M | 8.2% | 26.5% | 95.5% |
| 2024 | $93M | - | $16M | $25M | 4.7% | 6.7% | 15.7% |
| 2023 | $88M | - | $13M | $16M | 4.3% | -18.7% | -53.9% |
| 2022 | $108M | - | $29M | $36M | 9.9% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 107.60 | 87.51 | 93.36 | 118.09 |
| Operating Revenue | - | 107.60 | 87.51 | 93.36 | 118.09 |
| Selling General And Administration | - | 41.69 | 45.40 | 48.98 | 50.21 |
| Interest Income | - | 117.66 | 177.60 | 201.21 | 211.48 |
| Interest Expense | - | 20.04 | 99.94 | 119.99 | 106.53 |
| Net Interest Income | - | 97.62 | 77.65 | 81.22 | 104.95 |
| Pretax Income | - | 38.11 | 17.43 | 19.91 | 39.60 |
| Tax Provision | - | 9 | 4 | 4.38 | 9.24 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.09 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Net Income From Continuing And Discontinued Operation | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Net Income From Continuing Operation Net Minority Interest | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Net Income | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Net Income Common Stockholders | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Net Income Including Noncontrolling Interests | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Normalized Income | - | 29.42 | 13.43 | 15.53 | 30.37 |
| Diluted NI Availto Com Stockholders | - | 29.12 | 13.43 | 15.53 | 30.37 |
| Basic Average Shares | - | 7.96 | 8.05 | 8.08 | 8.05 |
| Diluted Average Shares | - | 8.07 | 8.08 | 8.12 | 8.09 |
| Reconciled Depreciation | - | 3.70 | 4.82 | 4.81 | 4.31 |
| Total Unusual Items | 0.01 | -0.39 | 0 | 0.03 | - |
| Total Unusual Items Excluding Goodwill | 0.01 | -0.39 | 0 | 0.03 | - |
| Special Income Charges | 0.01 | -0.39 | 0 | 0.03 | - |
| Other Special Charges | -0.01 | 0.39 | - | -0.03 | - |
| Gain On Sale Of Security | - | 0.01 | 0 | 0 | -0.52 |
| General And Administrative Expense | - | 40.48 | 44.04 | 47.57 | 48.68 |
| Other Gand A | 4.86 | - | - | - | - |
| Salaries And Wages | - | 38.79 | 40.28 | 43.55 | 44.81 |
| Insurance And Claims | - | 1.69 | 3.77 | 4.02 | 3.88 |
| Selling And Marketing Expense | - | 1.22 | 1.36 | 1.41 | 1.53 |
| Occupancy And Equipment | - | 9.10 | 10.26 | 10.29 | 9.98 |
| Professional Expense And Contract Services Expense | - | 2.64 | 2.50 | 2.40 | 2.46 |
| Other Non Interest Expense | - | 9.50 | 10.68 | 11.65 | 12.89 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Southern First Bancshares, Inc.this co. | SFST | $553M | 18.20↑ premium | 1.50 | 8.2% | - |
| PRA Group, Inc. | PRAA | $574M | -1.88 | 0.59 | -31.1% | - |
| Innventure, Inc. | INV | $562M | -1.92 | 0.98 | -50.9% | -1.17 |
| ACNB Corporation | ACNB | $553M | 14.92 | 1.32 | 8.8% | - |
| Northrim BanCorp, Inc. | NRIM | $552M |
| - |
| - |
| - |
| - |
| - |
| - |
| 8.54 |
| 1.69 |
| 19.8% |
| - |
| Civista Bancshares, Inc. | CIVB | $542M | 11.73 | 1.00 | 8.5% | - |
| Unity Bancorp, Inc. | UNTY | $539M | 9.31 | 1.56 | 16.8% | - |
| Bridgewater Bancshares, Inc. | BWB | $532M | 11.54 | 1.18 | 10.2% | - |
| Capital Bancorp, Inc. | CBNK | $531M | 9.29 | 1.32 | 14.2% | - |
| Peer Median | - | 9.30 | 1.25 | 9.5% | -1.17 | |