Greenville, South Carolina, July 26, 2022 – Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today announced its financial results for the three-month period ended June 30, 2021.

“I am incredibly proud of the Southern First team as they generated significant new client relationships and record loan growth for the second quarter,” stated Art Seaver, the company’s Chief Executive Officer. “During this time of high inflation, rising interest rates, and the resulting transition in housing and mortgage, our team’s efforts resulted in strong performance with solid growth in net interest income and book value.”

2022 Second Quarter Highlights

• Net income was $7.2 million and diluted earnings per common share were $0.90 for Q2 2022
• Net interest income increased 16.1% to $24.9 million at Q2 2022, compared to $21.4 million at Q2 2021
• Total loans increased 26% to $2.8 billion at Q2 2022, compared to $2.3 billion at Q2 2021
• Total deposits increased 24% to $2.9 billion at Q2 2022, compared to $2.3 billion at Q2 2021
• Book value per common share increased to $35.39, or 11%, over Q2 2021
• Completed move to new headquarters in Greenville, South Carolina
  

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