Southern First Bancshares Reports Strong Q1 2025 Results

Southern First Bancshares ( (SFST) ) has released its Q1 earnings. Here is a breakdown of the information Southern First Bancshares presented to its investors.

Southern First Bancshares, Inc., headquartered in Greenville, South Carolina, is a bank holding company that operates Southern First Bank, providing financial services across South Carolina, North Carolina, and Georgia. The company is recognized for its strong asset quality and community-focused approach.

Southern First Bancshares reported a strong start to 2025 with significant growth in loans and deposits, alongside solid margin expansion. The company achieved a net income of $5.3 million for the first quarter, reflecting a 109% increase compared to the same period in the previous year.

Key financial highlights include a net interest margin of 2.41%, an increase from both the previous quarter and the prior year, driven by reduced interest expenses on deposits. Total loans reached $3.7 billion, marking a 6% annualized growth over the previous quarter, while core deposits rose by 23% annualized. The company’s asset quality remains robust, with nonperforming assets at 0.26% of total assets.

The bank’s efficiency ratio improved to 71.08%, and its tangible common equity ratio stood at 7.88%. Southern First continues to expand its market presence by hiring experienced bankers and focusing on community support and shareholder value enhancement.

Looking ahead, Southern First Bancshares remains well-positioned to navigate potential economic uncertainties, with strong capital ratios and a commitment to maintaining profitability and growth. The management expresses confidence in the company’s ability to adapt to market changes and continue its trajectory of success.