Greenville, South Carolina, October 25, 2022 – Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today announced its financial results for the three-month period ended September 30, 2022.

“The third quarter saw exceptional growth for our company, including opening a record number of new deposit accounts,” stated Art Seaver, the company’s Chief Executive Officer. “I am proud of the performance of our team as we also experienced solid increases in total revenue and book value during the quarter.”

2022 Third Quarter Highlights

• Net income was $8.4 million and diluted earnings per common share were $1.04 for Q3 2022
• Net interest income increased 14.8% to $25.5 million at Q3 2022, compared to $22.2 million at Q3 2021
• Total loans increased 27% to $3.0 billion at Q3 2022, compared to $2.4 billion at Q3 2021
• Total deposits increased 23% to $3.0 billion at Q3 2022, compared to $2.4 billion at Q3 2021
• Book value per common share increased to $35.99, or 7%, over Q3 2021 
  

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