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SFST

Southern First Bancshares, Inc.

SFST

Southern First Bancshares, Inc. • NASDAQ
$50.76 ▼ -0.39% (-0.20)
Market Cap $415.68 M
52w High $52.60
52w Low $29.14
Dividend Yield 0%
P/E 15.72
Volume 17.14K
Outstanding Shares 8.19M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $58.586M ▲ $18.946M ▼ $8.662M ▲ 14.785% ▲ $1.08 ▲ $12.691M ▲
Q2-2025 $55.652M ▲ $19.336M ▲ $6.581M ▲ 11.825% ▲ $0.81 ▲ $9.721M ▲
Q1-2025 $52.761M ▼ $18.836M ▲ $5.266M ▼ 9.981% ▼ $0.65 ▼ $8.08M
Q4-2024 $53.883M ▼ $18.516M ▲ $5.627M ▲ 10.443% ▲ $0.7 ▲ $8.08M ▲
Q3-2024 $54.346M $18.039M $4.382M 8.063% $0.54 $6.932M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $104.838M ▲ $4.359B ▲ $4.002B ▲ $356.348M ▲
Q2-2025 $90.664M ▲ $4.308B ▲ $3.963B ▲ $345.462M ▲
Q1-2025 $41.91M ▲ $4.284B ▲ $3.947B ▲ $337.598M ▲
Q4-2024 $34.872M ▼ $4.088B ▼ $3.757B ▼ $330.444M ▲
Q3-2024 $169.062M $4.175B $3.848B $326.538M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $8.662M ▲ $14.486M ▲ $-43.205M ▲ $40.59M ▲ $11.871M ▲ $14.398M ▲
Q2-2025 $6.581M ▲ $10.475M ▲ $-60.214M ▼ $15.714M ▼ $-34.025M ▼ $10.395M ▲
Q1-2025 $5.266M ▼ $7.582M ▲ $-50.404M ▼ $185.016M ▲ $142.194M ▲ $7.441M ▲
Q4-2024 $5.627M ▲ $-6.937M ▼ $-7.819M ▲ $-82.956M ▼ $0 ▼ $-7.155M ▼
Q3-2024 $4.382M $26.33M $-8.061M $47.479M $65.748M $26.135M

Five-Year Company Overview

Income Statement

Income Statement Southern First’s income profile over the last few years shows a classic banking cycle: strong momentum coming out of the pandemic period, then earnings pressure as the rate environment shifted, followed by a more recent stabilization. Revenue has generally trended higher over time, which suggests the bank continues to grow its client base and loan book. Profitability, however, has been more up‑and‑down. Earnings were exceptionally strong a few years ago, then compressed as funding costs rose and margins tightened, and now appear to be improving again but from a lower level than the prior peak. Overall, this looks like a bank that is still growing but is working through margin and credit pressures that are common across regional banks. Profitability remains positive, but not as elevated as in the unusually favorable conditions earlier in the decade.

Balance Sheet

Balance Sheet The balance sheet shows a bank that has grown steadily, with total assets expanding meaningfully over the period. That points to ongoing loan growth and a larger presence in its markets. Equity has also increased over time, which is a healthy sign of retained earnings and capital build. At the same time, the bank is using more borrowings than it did several years ago, a pattern seen at many regional banks as deposit costs and competition have increased. Cash and liquid resources are present but not especially large relative to total assets, which is typical of a growth‑oriented community bank but does place a premium on stable funding and prudent liquidity management. In short, the balance sheet reflects measured growth and capital build, with a gradual increase in leverage that will need to be balanced carefully against risk and regulatory expectations.

Cash Flow

Cash Flow Cash generation from the core business has remained consistently positive, even as earnings moved up and down. That indicates the underlying banking operations continue to throw off cash, despite margin pressure. Free cash flow has also stayed positive after investments, suggesting the bank has not been overextending itself on new branches, technology, or other long‑term projects. Capital spending has been modest, and appears focused rather than aggressive. Taken together, Southern First’s cash flow picture looks steady and self‑funded: the bank is covering its needs from operations and still has room to invest, without relying heavily on external capital just to keep the lights on.

Competitive Edge

Competitive Edge Southern First operates as a relationship‑driven regional bank in attractive Southeastern markets. Its edge is not in exotic products, but in high‑touch service built around its “ClientFIRST” culture, where clients get direct access to a dedicated team rather than a call center. This model tends to resonate with small and mid‑sized businesses and higher‑value retail clients who feel underserved by very large banks. It can lead to loyal, stickier relationships and a differentiated reputation locally. Competitive risks remain real: larger regional and national banks can outspend it on technology and marketing, and digital‑only players compete on price and convenience. Southern First’s challenge is to maintain its service edge while staying technologically current, and to manage concentration risk in its regional footprint and lending niches.

Innovation and R&D

Innovation and R&D For a community‑style bank, Southern First has been notably intentional about technology and innovation, even if it is not a pure fintech player. The bank has modernized its credit analysis with tools like Moody’s CreditLens, upgraded its personal online and mobile platforms, and offers a reasonably sophisticated digital suite for business clients, including treasury and fraud‑prevention tools and integrations with accounting software. The creation of a Chief Innovation Officer role is important: it signals an ongoing effort to use data, analytics, and digital channels to support, rather than replace, its relationship model. The bank appears to be a disciplined “fast follower” in technology—adopting mature, proven tools rather than experimenting at the bleeding edge. The key question is how effectively it will turn these investments into better client retention, deeper relationships, and more efficient growth over time.

Summary

Southern First Bancshares looks like a growing regional bank that has moved from an unusually strong earnings period into a more normal, more competitive environment. Its income statement shows rising revenue but more volatile profits, with current earnings at healthier‑than‑average levels but below prior peaks. The balance sheet reflects steady asset and capital growth, alongside greater use of borrowings and the need for careful liquidity and risk management. Cash flows from operations remain solid and comfortably cover investment needs. Strategically, the bank’s key asset is its high‑touch “ClientFIRST” culture, tailored to clients who value local decision‑making and personal relationships. That advantage is being reinforced through thoughtful, if not radical, technology investments and a clear innovation mandate. The main areas to watch are: how well the bank defends its margins in a shifting rate and competitive backdrop; how it manages credit quality and funding costs as it grows; and whether its technology and data initiatives translate into tangible gains in client loyalty, efficiency, and long‑term profitability.

NEWS

October 28, 2025 · 7:15 AM UTC

Southern First Reports Third Quarter 2025 Results

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