Southern First Bancshares, Inc. (SFST) 10-Year Financial Performance & Capital Metrics

SFST • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutSouthern First Bancshares, Inc. operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It operates through three segments: Commercial and Retail Banking, Mortgage Banking, and Corporate Operations. 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 provides other bank services, such as internet banking, cash management, safe deposit boxes, direct deposit, automatic drafts, bill payment, and mobile banking services. It operates through eight retail offices located in Greenville, Charleston, and Columbia; three retail offices located in Raleigh, Greensboro, and Charlotte markets; and one retail office located in Atlanta. The company was incorporated in 1999 and is headquartered in Greenville, South Carolina.Show more

Net Interest Income $81M +4.6%
Total Revenue $213M +13.8%
Net Income $16M +15.7%
Return on Equity 4.83% +9.2%
Net Interest Margin 1.99% +3.8%
Efficiency Ratio 34.36% -6.4%
ROA 0.38% +10.0%
Equity / Assets 8.08% +4.9%
Book Value per Share 40.71 +5.2%
Tangible BV/Share 40.71 +5.2%
Debt/Equity 0.80 -19.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 34.4% efficiency ratio
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

✗Profits declining 11.0% over 5 years
✗Weak NIM of 2.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.65%

5Y15.74%

3Y24.61%

TTM-

Profit (Net Income) CAGR

10Y8.89%

5Y-11.03%

3Y-30.72%

TTM85.76%

EPS CAGR

10Y5.67%

5Y-11.81%

3Y-31.14%

TTM85.63%

ROCE

10Y Avg8.52%

5Y Avg7.59%

3Y Avg4.7%

Latest3%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	38.53M	43M	50.88M	60.15M	67.27M	79.81M	87.73M	97.62M	77.65M	81.22M
NII Growth %	0.17%	0.12%	0.18%	0.18%	0.12%	0.19%	0.1%	0.11%	-0.2%	0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	46.03M	51.19M	61.21M	76.66M	92.65M	94.82M	93.17M	117.66M	177.6M	201.21M
Interest Expense	7.5M	8.19M	10.33M	16.5M	25.38M	15.01M	5.43M	20.04M	99.94M	119.99M
Loan Loss Provision	3.2M	2.3M	2M	1.9M	2.3M	29.6M	-12.4M	6.16M	1.26M	125K
Non-Interest Income+	8.42M	10.85M	9.34M	6.05M	10.04M	27.35M	17.09M	9.97M	9.86M	12.11M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	54.45M	62.04M	70.55M	82.71M	102.69M	122.17M	110.26M	127.64M	187.46M	213.32M
Revenue Growth %	0.19%	0.14%	0.14%	0.17%	0.24%	0.19%	-0.1%	0.16%	0.47%	0.14%
Non-Interest Expense	28.21M	31.18M	34.55M	35.61M	39.53M	53.74M	56.43M	62.93M	68.83M	73.3M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	15.54M	20.37M	23.66M	28.69M	35.48M	23.82M	60.8M	38.11M	17.43M	19.91M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.6%	0.31%	0.16%	0.21%	0.24%	-0.33%	1.55%	-0.37%	-0.54%	0.14%
Pretax Income+	15.54M	20.37M	23.66M	28.69M	35.48M	23.82M	60.8M	38.11M	17.43M	19.91M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	5.37M	7.33M	10.62M	6.4M	7.62M	5.49M	14.09M	9M	4M	4.38M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	10.17M	13.04M	13.04M	22.29M	27.86M	18.33M	46.71M	29.11M	13.43M	15.53M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.53%	0.28%	0%	0.71%	0.25%	-0.34%	1.55%	-0.38%	-0.54%	0.16%
Net Income (Continuing)	10.17M	13.04M	13.04M	22.29M	27.86M	18.33M	46.71M	29.11M	13.43M	15.53M
EPS (Diluted)+	1.55	1.94	1.76	2.88	3.58	2.34	5.85	3.61	1.66	1.91
EPS Growth %	0.41%	0.25%	-0.09%	0.64%	0.24%	-0.35%	1.5%	-0.38%	-0.54%	0.15%
EPS (Basic)	1.64	2.06	1.86	3.02	3.70	2.37	5.96	3.66	1.67	1.92
Diluted Shares Outstanding	6.56M	6.72M	7.41M	7.74M	7.77M	7.82M	7.99M	8.07M	8.08M	8.12M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	29.28M	22.51M	43.02M	36.99M	38.56M	78.94M	80.33M	69.6M	36.82M	34.41M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	461K
Total Investments+	1.09B	1.22B	1.45B	1.75B	2.02B	2.25B	2.6B	3.33B	3.71B	3.73B
Investments Growth %	0.17%	0.12%	0.19%	0.2%	0.16%	0.11%	0.15%	0.28%	0.11%	0.01%
Long-Term Investments	996.78M	1.16B	1.38B	1.67B	1.95B	2.16B	2.48B	3.24B	3.7B	3.73B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	24.18M	28.36M	32.23M	32.43M	58.48M	60.24M	92.37M	99.18M	94.3M	88.79M
Other Assets	70.18M	61.57M	93.94M	80.92M	143.7M	79.65M	148.37M	177.11M	204.75M	217.4M
Total Current Assets	119.22M	86.99M	110.62M	111.9M	106.25M	173.67M	200.61M	162.94M	46.29M	34.87M
Total Non-Current Assets	1.1B	1.25B	1.51B	1.79B	2.16B	2.31B	2.72B	3.53B	4.01B	4.05B
Total Assets+	1.22B	1.34B	1.62B	1.9B	2.27B	2.48B	2.93B	3.69B	4.06B	4.09B
Asset Growth %	0.18%	0.1%	0.21%	0.17%	0.19%	0.1%	0.18%	0.26%	0.1%	0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0%	0%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	128.6M	128.6M	80.6M	63.4M	145.89M	61M	36.11M	211.21M	311.32M	264.9M
Net Debt	99.32M	106.09M	37.59M	26.41M	107.33M	-17.95M	-44.22M	141.62M	274.5M	230.49M
Long-Term Debt	128.6M	128.6M	80.6M	63.4M	145.89M	61M	36.11M	211.21M	311.32M	264.9M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	8.72M	0	0	0	39.32M	50.54M	47.72M	52.39M	52.44M	56.48M
Total Current Liabilities	985.73M	1.09B	1.38B	1.65B	1.88B	2.14B	2.56B	3.13B	3.38B	3.44B
Total Non-Current Liabilities	137.32M	139.88M	93.82M	78.56M	185.21M	111.53M	83.82M	263.61M	363.76M	321.38M
Total Liabilities	1.12B	1.23B	1.47B	1.73B	2.06B	2.25B	2.65B	3.4B	3.74B	3.76B
Total Equity+	94.24M	109.87M	149.69M	173.92M	205.86M	228.29M	277.9M	294.51M	312.47M	330.44M
Equity Growth %	0.14%	0.17%	0.36%	0.16%	0.18%	0.11%	0.22%	0.06%	0.06%	0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.13%	0.1%	0.14%	0.15%	0.08%	0.18%	0.1%	0.04%	0.05%
Book Value per Share	14.36	16.35	20.20	22.48	26.48	29.18	34.79	36.49	38.68	40.71
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	63K	65K	73K	75K	77K	78K	79K	80K	81K	82K
Additional Paid-in Capital	70.04M	73.37M	99.99M	102.63M	106.15M	108.83M	114.23M	119.03M	121.78M	124.64M
Retained Earnings	24.5M	37.54M	50.59M	72.87M	100.73M	119.06M	165.77M	192.12M	205.55M	221.08M
Accumulated OCI	-4K	-504K	-456K	-917K	-298K	1.02M	-740K	-13.41M	-11.34M	-11.47M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	20.11M	17.09M	17.19M	31.7M	18.31M	20.62M	78.07M	50.3M	17.65M	25.56M
Operating CF Growth %	3.25%	-0.15%	0.01%	0.84%	-0.42%	0.13%	2.79%	-0.36%	-0.65%	0.45%
Net Income	10.17M	13.04M	13.04M	22.29M	27.86M	18.33M	46.71M	29.11M	13.43M	15.53M
Depreciation & Amortization	1.31M	1.25M	1.46M	1.75M	1.92M	2.19M	2.32M	3.7M	4.82M	4.81M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	10.95M	486K	-1.41M	4.99M	-15.8M	-2.07M	35.6M	16.43M	-1.96M	3.28M
Working Capital Changes	-3.08M	318K	2.84M	1.17M	2.64M	775K	-8.21M	-965K	-576K	-345K
Cash from Investing+	-175.96M	-139.92M	-239.01M	-301.71M	-275.58M	-230.77M	-410.63M	-792.58M	-378.57M	-28.86M
Purchase of Investments	-57.37M	-18.78M	-25.06M	-23.23M	-44.6M	-53.19M	-51.64M	-40.8M	-114.87M	-28.24M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-136.86M	-158.83M	-231.4M	-291.79M	-272.61M	-200.74M	-355.01M	-782.03M	-329.43M	-30.38M
Cash from Financing+	177.45M	106.52M	267.44M	250.71M	312.22M	183.02M	399.08M	745.94M	346.22M	9.99M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	0	0	24.76M	0	0	1.39M	3.01M	905K	518K	294K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	0	-1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K	-1000K
Other Financing	197.45M	106.52M	290.68M	267.91M	229.76M	266.63M	421.07M	570.04M	245.7M	56.2M
Net Change in Cash+	21.6M	-16.31M	45.61M	-19.29M	54.94M	-27.13M	66.52M	3.67M	-14.7M	6.69M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	41.26M	62.87M	46.55M	92.17M	72.87M	127.82M	100.69M	167.21M	170.87M	156.17M
Cash at End	62.87M	46.55M	92.17M	72.87M	127.82M	100.69M	167.21M	170.87M	156.17M	162.86M
Interest Paid	7.29M	8.31M	9.99M	15.41M	25.16M	16.31M	6.4M	18.88M	93.35M	119.35M
Income Taxes Paid	6.63M	6.68M	8.39M	5.45M	7.88M	2.74M	21.65M	11.83M	1.51M	3.77M
Free Cash Flow+	15.46M	11.66M	11.81M	29.76M	9.88M	13.34M	51.56M	36.35M	16.41M	24.77M
FCF Growth %	5.16%	-0.25%	0.01%	1.52%	-0.67%	0.35%	2.86%	-0.29%	-0.55%	0.51%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.47%	12.77%	10.05%	13.78%	14.67%	8.44%	18.46%	10.17%	4.42%	4.83%
Return on Assets (ROA)	0.9%	1.02%	0.88%	1.26%	1.34%	0.77%	1.73%	0.88%	0.35%	0.38%
Net Interest Margin	3.17%	3.21%	3.13%	3.16%	2.97%	3.21%	3%	2.64%	1.91%	1.99%
Efficiency Ratio	51.81%	50.25%	48.98%	43.06%	38.5%	43.99%	51.18%	49.31%	36.72%	34.36%
Equity / Assets	7.74%	8.19%	9.21%	9.15%	9.08%	9.2%	9.5%	7.98%	7.7%	8.08%
Book Value / Share	14.36	16.35	20.2	22.48	26.48	29.18	34.79	36.49	38.68	40.71
NII Growth	16.61%	11.6%	18.32%	18.23%	11.83%	18.64%	9.93%	11.27%	-20.45%	4.59%

Frequently Asked Questions

Valuation & Price

Southern First Bancshares, Inc. (SFST) has a price-to-earnings (P/E) ratio of 29.2x. This suggests investors expect higher future growth.

Growth & Financials

Southern First Bancshares, Inc. (SFST) grew revenue by 13.8% over the past year. This is steady growth.

Yes, Southern First Bancshares, Inc. (SFST) is profitable, generating $26.1M in net income for fiscal year 2024 (7.3% net margin).

Dividend & Returns

Southern First Bancshares, Inc. (SFST) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Industry Metrics

Southern First Bancshares, Inc. (SFST) has a net interest margin (NIM) of 2.0%. NIM has been under pressure due to interest rate environment.

Southern First Bancshares, Inc. (SFST) has an efficiency ratio of 34.4%. This is excellent, indicating strong cost control.

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