Greenville, South Carolina, April 22, 2025 – Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today announced its financial results for the three months ended March 31, 2025.

“We are pleased to report our first quarter results, which reflect our continued momentum and a great start to the year. We had exceptional loan and deposit growth and another quarter of solid margin expansion. We are well positioned for any additional Fed moves but are confident in our ability to increase profitability without them. Asset quality, which has always been a strength of our company, remains excellent. Our capital ratios are strong and provide the balance sheet strength and support we need for continued growth and increasing performance. We are prepared for the uncertainty and potential instability in our immediate operating environment and in the broader economy based on recent trade and tariff events,” stated Art Seaver, Chief Executive Officer. “We recently celebrated the 25^th anniversary of our grand opening, and I am extremely proud of our great team and the company they’ve built. Our people are highly energized and ready to drive our future success through impacting lives in our markets. Our business opportunities have continued to increase, we have continued to hire experienced and successful bankers to expand our markets, and we remain focused on supporting our communities and enhancing value for our shareholders.”

2025 First Quarter Highlights

• Net income of $5.3 million and diluted earnings per common share of $0.65, up 109% compared to Q1 2024
• Net interest margin of 2.41%, compared to 2.25% for Q4 2024 and 1.94% for Q1 2024
• Total loans of $3.7 billion, up 6% (annualized) over Q4 2024
• Core deposits of $2.8 billion, up 23% (annualized) over Q4 2024
• Nonperforming assets to total assets of 0.26% and past due loans to total loans of 0.27%
• Book value per common share of $41.33 and a Tangible Common Equity (TCE) ratio of 7.88%