Southern First Bancshares Reports Strong Q4 Earnings
GREENVILLE, S.C. - Southern First Bancshares Inc. (SFST) today announced a net income of $5.6 million for its fourth quarter, reflecting an increase from the previous year. The bank reported earnings per share of 70 cents, surpassing analyst estimates.
During the quarter, Southern First Bank generated revenue of $53.9 million, exceeding expectations. Its net interest income reached $25.2 million, driven by strong loan growth and interest rate spreads.
For the full year 2023, the company posted a net income of $15.5 million, or $1.91 per share. Revenue for the year was recorded at $93.4 million, representing stable financial performance.
"We are pleased with the continued growth and profitability of our business," said CEO of Southern First Bancshares. "Our strategic initiatives are delivering positive results, and we are well-positioned for continued success in the coming year."