Southern First Bancshares, Inc. (SFST) Financial Statements (2024 and earlier)

Company Profile

Business Address 6 VERDAE BOULEVARD
GREENVILLE, SC 29607
State of Incorp. SC
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,80085,527100,687127,81672,87392,165
Cash and cash equivalents5,80085,527100,687127,81672,87392,165
Total current assets:5,80085,527100,687127,81672,87392,165
Noncurrent Assets
Inventory, real estate545     
Property, plant and equipment99,18392,37060,23658,47832,43032,234
Deferred income tax assets12,5228,3979,518 
Total noncurrent assets:112,250100,76769,75458,47832,43032,234
Other undisclosed assets3,573,9312,739,2542,312,1462,080,9011,795,3111,500,226
TOTAL ASSETS:3,691,9812,925,5482,482,5872,267,1951,900,6141,624,625
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt      7,200
Total current liabilities:      7,200
Noncurrent Liabilities
Liabilities, other than long-term debt      
Operating lease, liability    
Total noncurrent liabilities:      
Other undisclosed liabilities3,397,4692,647,6472,254,2932,061,3351,726,6981,467,739
Total liabilities:3,397,4692,647,6472,254,2932,061,3351,726,6981,474,939
Equity
Equity, attributable to parent, including:294,512277,901228,294205,860173,916149,686
Common stock80     
Additional paid in capital119,027114,226108,831106,152102,62599,986
Accumulated other comprehensive income (loss)(13,410)(740)1,023(298)(917)(456)
Retained earnings192,121165,771119,060100,73272,87450,585
Other undisclosed equity, attributable to parent(3,306)(1,356)(620)(726)(666)(429)
Total equity:294,512277,901228,294205,860173,916149,686
TOTAL LIABILITIES AND EQUITY:3,691,9812,925,5482,482,5872,267,1951,900,6141,624,625

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues115,67291,83293,40390,55174,85665,912
Net investment income115,67291,83293,40390,55174,85659,592
Cost of revenue(6,155) (29,600)(2,300)(1,900)(2,000)
Provision for loan, lease, and other losses(6,155) (29,600)(2,300)(1,900)
Financial services costs(2,000)
Gross profit:109,51791,83263,80388,25172,95663,912
Operating expenses(19,068)(14,745)(12,848)(12,354)(10,781)(31,169)
Operating income:90,44977,08750,95575,89762,17532,743
Nonoperating income (expense)1,289846(132)1,001878811
Bank owned life insurance income1,2891,2311,0911,001878811
Loss from real estate operations  (385)(1,223)   
Interest and debt expense(20,041)(5,435)(15,008)(25,383)(16,505)(10,333)
Income from continuing operations before equity method investments, income taxes:71,69772,49835,81551,51546,54823,221
Other undisclosed income (loss) from continuing operations before income taxes(33,584)(11,695)(11,996)(16,036)(17,858)440
Income from continuing operations before income taxes:38,11360,80323,81935,47928,69023,661
Income tax expense(8,998)(14,092)(5,491)(7,621)(6,401)(10,616)
Income from continuing operations:29,11546,71118,32827,85822,28913,045
Income before gain (loss) on sale of properties:46,71118,32827,85822,28913,045
Net income available to common stockholders, diluted:29,11546,71118,32827,85822,28913,045

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:29,11546,71118,32827,85822,28913,045
Comprehensive income:29,11546,71118,32827,85822,28913,045
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(12,670)(1,763)1,321619(461)48
Comprehensive income, net of tax, attributable to parent:16,44544,94819,64928,47721,82813,093

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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