Southern First Awarded Raymond James Community Bankers Cup, Recognized in Top 10% of Community Banks for 2021
GREENVILLE, S.C., May 10, 2022 -- Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, was awarded the Raymond James Community Bankers Cup for its 2021 performance.
Each year, Raymond James, a leading diversified financial services company, evaluates community banks based on various profitability, operational efficiency, and balance sheet metrics. Of the 229 community banks considered, the top 10% demonstrated excellence in six financial performance and stability measures: nonperforming assets to loans and real estate owned, five-year average core deposit percentage, net interest margin, efficiency ratio, return on average assets, and return on average tangible common equity.
The tenth annual Raymond James Community Bankers Cup was presented to 23 banks that performed in the top 10% of community banks with assets between $500 million and $10 billion as of December 31, 2021. Of the banks awarded, Southern First was ranked no. 6 in overall performance and the only bank headquartered in South Carolina to be recognized.
"This accomplishment speaks to the value of our relationship-first approach to banking. Congratulations to our team on this incredible recognition and thank you to our clients for the privilege of serving you," stated Art Seaver, the company's Chief Executive Officer.