Southern First Reports Results for 2021
Greenville, South Carolina, January 25, 2022 – Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today announced its financial results for the three-month period and year ended December 31, 2021.
“We are incredibly proud of our team and their record performance in 2021,” stated Art Seaver, the company’s
Chief Executive Officer. “We have a proven ability to grow organically and have added significant talent to our
team this past year, including our new market expansion to Charlotte, North Carolina.”
2021 Fourth Quarter Highlights
- Net income improved to $12.0 million, compared to $8.6 million for Q4 2020
- Diluted earnings per common share improved to $1.49 per share, compared to $1.10 for Q4 2020
- Total loans increased 16.2% to $2.5 billion, compared to $2.1 billion at Q4 2020
- Total deposits increased 19.7% to $2.6 billion, compared to $2.1 billion at Q4 2020
- Adoption of Current Expected Credit Losses (CECL) reserve methodology as of January 1, 2022
For more information, and to read the press release in its entirety, please visit our Investor Relations page.