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    Southern First Bancshares (SFST)

    Market Price (8/24/2026): $62.91 | Market Cap: $577.8 MilSector: Financials | Industry: Regional Banks

    Southern First Bancshares (SFST)

    Market Price (8/24/2026): $62.91
    Market Cap: $577.8 Mil
    Sector: Financials
    Industry: Regional Banks

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, FCF Yield is 6.8%

    Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27%

    Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%

    Low stock price volatility
    Vol 12M is 30%

    Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.

    Trading close to highs
    Dist 52W High is -2.4%, Dist 3Y High is -2.4%

    Key risks
    SFST key risks include [1] its high real estate exposure, Show more.

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, FCF Yield is 6.8%
    1 Strong revenue growth
    Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 27%
    2 Attractive cash flow generation
    CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 30%
    3 Low stock price volatility
    Vol 12M is 30%
    4 Megatrend and thematic drivers
    Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology.
    5 Trading close to highs
    Dist 52W High is -2.4%, Dist 3Y High is -2.4%
    6 Key risks
    SFST key risks include [1] its high real estate exposure, Show more.

    SFST in ETFs

    Weight = SFST's share of each fund

    VTI0.00%
    IWM0.02%
    KRE0.23%
    IWN0.04%
    AVUV0.03%
    VTWO0.02%
    DFAS0.01%
    DFAC0.00%
    +1 more covered ETF

    Valuation & Metrics

    FYE: 12/31SFST [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$132.6 Mil—
    FY 2026 Sales$146.4 Mil—
    FY 2027 Sales$172.3 Mil—
    FY 2026 Sales Growth10.4%—
    FY 2027 Sales Growth17.7%12.9%
    EARNINGS
    LTM Net Income (GAAP) [3]$39.6 Mil—
    FY 2026 Net Income (Non-GAAP)$40.5 Mil—
    FY 2027 Net Income (Non-GAAP)$50.0 Mil—
    FY 2027 Net Income Growth23.5%19.0%
    FY 2026 EPS (Non-GAAP)$5.00—
    FY 2027 EPS (Non-GAAP)$6.17—
    FY 2027 EPS Growth23.5%—
    VALUATION
    FY 2026 P/S3.91.8
    FY 2027 P/S3.4—
    FY 2026 P/E14.38.5
    FY 2027 P/E11.6—

    [1] SFST forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 8/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    SFSTS&P 500
    REVENUE GROWTHVERY GOOD
    Rev LTM ($ Bil)0.1
    Rev Chg Q25.3%9.3%
    Rev Chg LTM27.4%8.4%
    Rev Chg 3Y Avg11.9%5.9%
    PROFITABILITYGOOD
    Op Inc LTM ($ Bil)�
    CFO LTM ($ Bil)0.0
    Net Inc LTM ($ Bil)0.0
    CFO/Rev LTM31.1%21.8%
    Net Inc Mgn29.9%13.0%
    VALUATIONLOW
    P/S4.43.3
    P/CFO14.015.6
    P/FCF14.720.3
    P/E14.623.2

    AI Analysis | Feedback

    MetricValueDateSource
    Net Interest Margin2.62%9302025Link
    Efficiency Ratio60.86%9302025Link
    Nonperforming Assets to Total Assets0.27%9302025Link
    Past Due Loans to Total Loans0.18%9302025Link
    Book Value Per Common Share43.519302025Link
    Tangible Common Equity (TCE) Ratio8.18%9302025Link
    Total Loans3.8 billion9302025Link
    Core Deposits2.9 billion9302025Link
    Allowance for Credit Losses to Total Loans1.10%6302025Link
    Number of Employees2979302025Link
    Number of Locations1311082025Link

    Price Chart

    Upcoming
    10/27/2026Earnings ReleaseRev: $37 Mil (E)
    EPS: $1.26 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 8/1/2026

    Southern First Bancshares (SFST) stock has gained about 10% since 4/30/2026 because of the following key factors:

    1. Southern First Bancshares reported strong financial results for fiscal Q2 2026, which ended June 30, 2026. The company's diluted earnings per share (EPS) reached $1.20, surpassing analysts' consensus estimates of $1.19 by 0.84%. This marked a significant 48% increase in EPS compared to fiscal Q2 2025, and net income surged by 70% year-over-year to $11.2 million.

    2. The company demonstrated robust loan and deposit growth, coupled with expanding net interest margins. During fiscal Q2 2026, the loan portfolio grew at an annualized rate of 9%, and retail client deposits increased by $184 million, representing a 22% annualized growth rate. These factors contributed to a 28% year-over-year increase in net interest income and a tax-equivalent net interest margin of 2.87%.

    Show more
    Updated on 8/1/2026

    Southern First Bancshares (SFST) stock has gained about 10% since 4/30/2026 because of the following key factors:

    1. Southern First Bancshares reported strong financial results for fiscal Q2 2026, which ended June 30, 2026. The company's diluted earnings per share (EPS) reached $1.20, surpassing analysts' consensus estimates of $1.19 by 0.84%. This marked a significant 48% increase in EPS compared to fiscal Q2 2025, and net income surged by 70% year-over-year to $11.2 million.

    2. The company demonstrated robust loan and deposit growth, coupled with expanding net interest margins. During fiscal Q2 2026, the loan portfolio grew at an annualized rate of 9%, and retail client deposits increased by $184 million, representing a 22% annualized growth rate. These factors contributed to a 28% year-over-year increase in net interest income and a tax-equivalent net interest margin of 2.87%.

    3. A successful capital raise in April 2026 strengthened the company's financial position and supported growth initiatives. Southern First Bancshares completed a public offering of 1.2 million common shares at $54.00 per share, generating approximately $65.2 million in gross proceeds. This capital was intended to back the company's strong growth expectations and enhance its capital base, including the redemption of subordinated notes.

    4. Positive analyst sentiment and increased price targets likely contributed to the stock's upward trend. On February 5, 2026, Piper Sandler maintained an "Overweight" rating and raised its price target for SFST from $54 to $64. More recently, as of July 24, 2026, analysts provided an average price target of $66.50, indicating a potential upside of 9.83% from the closing price of $60.55.

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    Stock Movement Drivers

    Fundamental Drivers

    The 12.0% change in SFST stock from 4/30/2026 to 8/23/2026 was primarily driven by a 16.1% change in the company's Net Income Margin (%).
    (LTM values as of)43020268232026Change
    Stock Price ($)56.3063.0312.0%
    Change Contribution By: 
    Total Revenues ($ Mil)11813312.3%
    Net Income Margin (%)25.7%29.9%16.1%
    P/E Multiple15.214.6-4.1%
    Shares Outstanding (Mil)89-10.5%
    Cumulative Contribution12.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 8/23/2026
    ReturnCorrelation
    SFST12.0% 
    Market (SPY)6.5%9.1%
    Sector (XLF)10.3%49.6%

    Fundamental Drivers

    The 14.7% change in SFST stock from 1/31/2026 to 8/23/2026 was primarily driven by a 27.4% change in the company's Net Income Margin (%).
    (LTM values as of)13120268232026Change
    Stock Price ($)54.9463.0314.7%
    Change Contribution By: 
    Total Revenues ($ Mil)11113319.0%
    Net Income Margin (%)23.4%29.9%27.4%
    P/E Multiple16.914.6-13.4%
    Shares Outstanding (Mil)89-12.6%
    Cumulative Contribution14.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    1/31/2026 to 8/23/2026
    ReturnCorrelation
    SFST14.7% 
    Market (SPY)11.0%18.6%
    Sector (XLF)8.1%43.9%

    Fundamental Drivers

    The 51.7% change in SFST stock from 7/31/2025 to 8/23/2026 was primarily driven by a 61.0% change in the company's Net Income Margin (%).
    (LTM values as of)73120258232026Change
    Stock Price ($)41.5663.0351.7%
    Change Contribution By: 
    Total Revenues ($ Mil)9913334.6%
    Net Income Margin (%)18.5%29.9%61.0%
    P/E Multiple18.414.6-20.4%
    Shares Outstanding (Mil)89-12.0%
    Cumulative Contribution51.7%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2025 to 8/23/2026
    ReturnCorrelation
    SFST51.7% 
    Market (SPY)22.2%26.8%
    Sector (XLF)11.1%51.1%

    Fundamental Drivers

    The 108.8% change in SFST stock from 7/31/2023 to 8/23/2026 was primarily driven by a 43.9% change in the company's P/E Multiple.
    (LTM values as of)73120238232026Change
    Stock Price ($)30.1863.03108.8%
    Change Contribution By: 
    Total Revenues ($ Mil)10413327.6%
    Net Income Margin (%)22.9%29.9%30.2%
    P/E Multiple10.214.643.9%
    Shares Outstanding (Mil)89-12.6%
    Cumulative Contribution108.8%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    7/31/2023 to 8/23/2026
    ReturnCorrelation
    SFST108.8% 
    Market (SPY)73.2%35.7%
    Sector (XLF)70.0%53.0%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    SFST Return77%-27%-19%7%30%22%78%
    Peers Return52%-6%4%24%6%20%134%
    S&P 500 Return27%-19%24%23%16%12%103%

    Monthly Win Rates [3]
    SFST Win Rate83%25%42%58%58%88% 
    Peers Win Rate79%42%46%58%62%50% 
    S&P 500 Win Rate75%42%67%75%67%50% 

    Max Drawdowns [4]
    SFST Max Drawdown-15%-36%-53%-34%-23%-16% 
    Peers Max Drawdown-18%-25%-36%-18%-26%-16% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: SSB, ABCB, PNFP, SFBS, SMBK.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 8/21/2026 (YTD)

    How Low Can It Go

    EventSFSTS&P 500
    2025 US Tariff Shock
      % Loss-13.3%-18.8%
      % Gain to Breakeven15.3%23.1%
      Time to Breakeven15 days79 days
    Summer-Fall 2023 Five Percent Yield Shock
      % Loss-11.0%-9.5%
      % Gain to Breakeven12.4%10.5%
      Time to Breakeven10 days24 days
    2023 SVB Regional Banking Crisis
      % Loss-49.2%-6.7%
      % Gain to Breakeven97.0%7.1%
      Time to Breakeven552 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-35.4%-24.5%
      % Gain to Breakeven54.8%32.4%
      Time to Breakeven1401 days427 days
    2020 COVID-19 Crash
      % Loss-48.0%-33.7%
      % Gain to Breakeven92.2%50.9%
      Time to Breakeven323 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-21.8%-19.2%
      % Gain to Breakeven27.9%23.8%
      Time to Breakeven53 days105 days

    Compare to SSB, ABCB, PNFP, SFBS, SMBK

    In The Past

    Southern First Bancshares's stock fell -13.3% during the 2025 US Tariff Shock. Such a loss loss requires a 15.3% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    EventSFSTS&P 500
    2023 SVB Regional Banking Crisis
      % Loss-49.2%-6.7%
      % Gain to Breakeven97.0%7.1%
      Time to Breakeven552 days31 days
    2022 Inflation Shock & Fed Tightening
      % Loss-35.4%-24.5%
      % Gain to Breakeven54.8%32.4%
      Time to Breakeven1401 days427 days
    2020 COVID-19 Crash
      % Loss-48.0%-33.7%
      % Gain to Breakeven92.2%50.9%
      Time to Breakeven323 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-21.8%-19.2%
      % Gain to Breakeven27.9%23.8%
      Time to Breakeven53 days105 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-38.5%-17.9%
      % Gain to Breakeven62.5%21.8%
      Time to Breakeven208 days123 days
    2010 Eurozone Sovereign Debt Crisis / Flash Crash
      % Loss-32.1%-15.4%
      % Gain to Breakeven47.3%18.2%
      Time to Breakeven180 days125 days
    2008-2009 Global Financial Crisis
      % Loss-65.9%-53.4%
      % Gain to Breakeven193.3%114.4%
      Time to Breakeven1454 days1085 days

    Compare to SSB, ABCB, PNFP, SFBS, SMBK

    In The Past

    Southern First Bancshares's stock fell -13.3% during the 2025 US Tariff Shock. Such a loss loss requires a 15.3% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Southern First Bancshares (SFST)

    Southern First Bancshares, Inc. (SFST) is a bank holding company that operates Southern First Bank, offering a comprehensive suite of banking products and services. The company's operations are structured into three main segments: Commercial and Retail Banking, Mortgage Banking, and Corporate Operations, focusing on serving both individual consumers and businesses.

    The bank's core offerings include a wide array of deposit products such as checking, savings, money market, and certificate of deposit accounts. Its lending activities are extensive, encompassing commercial real estate and construction loans, commercial business loans tailored for various industries, and consumer loans including real estate, home equity, and other secured or unsecured installment and revolving lines of credit.

    Southern First Bank primarily serves the general public within specific markets across South Carolina, North Carolina, and Georgia. It maintains a physical presence through retail offices in strategic locations such as Greenville, Charleston, Columbia, Raleigh, Greensboro, Charlotte, and Atlanta. Beyond its primary deposit and loan products, the bank also provides essential services like internet banking, mobile banking, cash management, and direct deposit to enhance customer convenience.

    AI Analysis | Feedback

    Here are 1-3 brief analogies for Southern First Bancshares (SFST):

    • A regional Wells Fargo, serving the Carolinas and Georgia.
    • Like a smaller Truist, operating across South Carolina, North Carolina, and Georgia.

    AI Analysis | Feedback

    • Checking and Savings Accounts: Fundamental deposit accounts for individuals and businesses to manage their money.
    • Money Market Accounts: Interest-bearing deposit accounts offering competitive rates with some liquidity features.
    • Certificates of Deposit (CDs): Time-deposit accounts providing a fixed interest rate for a specific term.
    • Commercial Real Estate & Construction Loans: Financing for the acquisition, development, or refinancing of commercial properties.
    • Commercial Business Loans: Loans provided to businesses across various sectors for operational needs and growth.
    • Consumer Real Estate & Home Equity Loans: Mortgage and equity-backed loans for personal residential properties.
    • Other Consumer Loans: Includes secured and unsecured installment loans and revolving lines of credit for personal use.
    • Digital Banking Services: Convenient internet and mobile banking platforms for account management and transactions.
    • Cash Management Services: Tools and services to help businesses efficiently manage their cash flow.
    • Safe Deposit Boxes: Secure storage facilities for important documents and valuables.
    • Payment & Transfer Services: Features like direct deposit, automatic drafts, and bill payment for seamless fund transfers.

    AI Analysis | Feedback

    Southern First Bancshares (SFST) serves a diverse customer base, primarily categorized as follows:

    • Businesses/Commercial Clients: This includes various companies across manufacturing, service industries, and professional services. These customers utilize commercial checking accounts, commercial real estate loans, construction real estate loans, and commercial business loans. The company also offers cash management services to these business clients.
    • Individuals/Retail Clients: The general public represents a significant customer group, engaging in retail banking activities. These customers utilize checking accounts, savings accounts, other time deposits, and various consumer loans, including secured and unsecured installment loans and revolving lines of credit.
    • Mortgage Borrowers (Individuals): A distinct category within the individual customer base, these clients primarily seek consumer real estate loans and home equity loans, which are central to the company's Mortgage Banking segment.

    AI Analysis | Feedback

    null

    AI Analysis | Feedback

    R. Arthur Seaver Jr. Chief Executive Officer

    R. Arthur "Art" Seaver, Jr. has served as Chief Executive Officer of Southern First Bancshares since 1999. He possesses over 37 years of banking experience. Prior to forming Southern First Bank, Mr. Seaver held various positions with The Citizens & Southern National Bank of South Carolina from 1986 to 1992. From 1992 until February 1999, he was with Greenville National Bank, where he was a senior vice president in lending and managed deposit strategies before the bank was acquired by Regions Bank in 1998.

    Christian J. Zych Chief Financial Officer

    Christian J. Zych was appointed Chief Financial Officer and Executive Vice President in May 2024. He brings over 30 years of experience in the banking industry. Before joining Southern First, Mr. Zych spent more than a decade at United Community Bank, most recently serving as Director of Corporate Development and Investor Relations from 2014 until April 2024. In this role, his responsibilities included developing and executing corporate strategy, identifying and negotiating M&A transactions, managing investor relations, and overseeing capital planning.

    Calvin C. Hurst President and Chief Banking Officer

    Calvin C. Hurst has served as the President of Southern First Bancshares since August 2022, and previously as Chief Banking Officer since March 2019. He has over 18 years of banking experience, having worked for several large financial institutions from 2006 to 2019. His previous roles included Commercial Underwriter, Commercial Relationship Manager, and Regional Vice President for TD Bank, starting in 2016.

    Julie A. Fairchild Chief Accounting Officer

    Julie A. Fairchild has served as Chief Accounting Officer and Principal Accounting Officer of Southern First Bancshares since October 2024. She joined the bank in 2005 and has held various positions, including Executive Vice President of Accounting and Finance. Prior to her tenure at Southern First Bank, Ms. Fairchild worked as an Audit Manager for Elliott Davis LLC, a regional public accounting and consulting firm.

    Silvia T. King Chief Human Resources Officer

    Silvia T. King has served as Chief Human Resources Officer of Southern First Bancshares since March 2018. She has over 20 years of human resources leadership experience, with prior roles in human resources and senior management at Monsanto Company and Select Comfort Corporation from 2009 to 2016.

    AI Analysis | Feedback

    Southern First Bancshares (SFST) faces key risks primarily related to asset quality and the fluctuations within the mortgage banking sector.

    1. Credit Risk and Asset Quality: While Southern First Bank generally maintains strong asset quality, there have been some minor concerns regarding nonperforming assets. The ratio of nonperforming assets to total assets saw a slight increase in the final quarter of 2025, an area warranting attention. For smaller banks like Southern First, loan quality ratios can be significantly impacted by even a limited number of deteriorated loan relationships.
    2. Exposure to Mortgage Banking Income Volatility: Mortgage banking income constitutes the largest portion of Southern First Bancshares' noninterest income. This reliance makes the company susceptible to changes in mortgage origination and closing volumes, which can introduce volatility to its overall earnings.

    AI Analysis | Feedback

    The rise of neobanks and digital-first challenger banks poses an emerging threat to Southern First Bancshares. These institutions operate with significantly lower overhead due to the absence of a physical branch network, allowing them to offer more competitive rates, lower fees, and often superior digital user experiences. They directly threaten Southern First Bancshares' ability to attract and retain deposit accounts (checking, savings, money market) and basic transaction services, especially among digitally-savvy customers.

    Additionally, the growth of specialized fintech lenders represents an emerging threat. These online lenders leverage advanced analytics and technology to offer faster, more convenient, and sometimes more tailored lending solutions for specific segments, such as small business loans or consumer personal loans. By providing alternative options for borrowers, these fintechs can disintermediate traditional banks and directly impact Southern First Bancshares' commercial business loan, consumer real estate, and other consumer loan portfolios.

    AI Analysis | Feedback

    Southern First Bancshares (SFST) operates in the commercial and retail banking, and mortgage banking segments across South Carolina, North Carolina, and Georgia. The addressable markets for its main products and services in these regions are substantial.

    South Carolina

    • Mortgage Originations: In 2024, the total mortgage loan value in South Carolina was approximately $37.6 billion (U.S. region). Approximately 181,343 mortgage applications were processed in 2024, with an average loan amount of $276,897.
    • Deposits: Community bank branches in South Carolina held approximately $45.7 billion in total deposits as of December 13, 2024 (U.S. region).

    North Carolina

    • Total Deposits: As of Q2 2024, banks operating in North Carolina held $693 billion in deposits (U.S. region).
    • New Home Loans: In 2024, new home loans booked in North Carolina totaled $37.2 billion (U.S. region).
    • Small Business Loans: North Carolina banks provided $21.3 billion in small business loans in 2024 (U.S. region). Another source indicates $9.9 billion in loans to small businesses in 2024.
    • Small Farm Loans: The market for small farm loans in North Carolina was $2.1 billion in 2024 (U.S. region).
    • Commercial Real Estate: While a precise overall commercial real estate lending market size is not explicitly stated, North Carolina's commercial leasing industry is projected to reach $4.0 billion in 2026. The state is home to over 864,000 active businesses that require commercial property financing.

    Georgia (U.S. State)

    • Total Deposits: As of Q2 2024, banks operating in Georgia held $342 billion in deposits (U.S. region).
    • New Home Loans: In 2024, new home loans booked in Georgia totaled $36.5 billion (U.S. region). The total mortgage loan value in Georgia was approximately $71.0 billion in 2024.
    • Small Business Loans: Banks in Georgia provided $22 billion in small business loans in 2024 (U.S. region).
    • Small Farm Loans: The market for small farm loans in Georgia was $2.6 billion in 2024 (U.S. region).
    • Commercial Real Estate Loans: The real estate loans and collateralized debt industry in Georgia is projected to be $18.4 billion in 2026 (U.S. region). Georgia also saw an annual commercial real estate investment volume of approximately $19.8 billion.

    AI Analysis | Feedback

    Southern First Bancshares (SFST) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market advantages:

    • Expansion within High-Growth Southeastern Markets: The company benefits from its strategic presence in metropolitan areas across South Carolina, North Carolina, and Georgia, which are projected to experience population growth approximately 2.5 times the national average. This favorable geographic footprint is anticipated to fuel both deposit and loan growth.
    • Continued Loan and Deposit Growth: Southern First Bancshares has demonstrated strong growth in its loan portfolio, which contributed significantly to an increase in total assets. Total loans reached $3.7 billion in the second quarter of 2025, reflecting an approximate 7% annualized growth from the first quarter, driven by robust contributions from both commercial and consumer lending segments. Total deposits also experienced a 1.7% annualized increase.
    • Net Interest Margin Expansion: The company is well-positioned to benefit from adjusting interest rates. As time deposits, such as Certificates of Deposit (CDs), mature, the bank expects to lower the interest rates paid on these deposits. Concurrently, many of its loans are anticipated to reprice to higher rates, leading to a continued expansion of its net interest margin, with some benefits becoming even more pronounced in 2026.
    • Improved Operational Efficiency: Southern First Bancshares has successfully increased revenues while maintaining cost control, resulting in an improved efficiency ratio. This ongoing focus on operational efficiency and cost management is expected to enhance profitability and contribute to overall net revenue growth.
    • Leveraging Enhanced Client Experience and Technology: While its new corporate headquarters in Greenville, SC, including a flagship retail banking office, was completed in December 2021, the company continues to benefit from this investment. The facility and its integration of forward-focused technology, such as Interactive Teller Machines (ITMs), aim to combine convenience, simplicity, and strong client relationships, which are crucial for attracting and retaining customers, thereby supporting sustained revenue growth.

    AI Analysis | Feedback

    Share Repurchases

    • Southern First Bancshares authorized a share repurchase plan of up to $5 million of its common stock in June 2025, which represents approximately 2% of its outstanding shares.
    • This repurchase authorization is set to remain in effect until March 22, 2026.
    • The company is not obligated to repurchase any shares under this plan.

    Share Issuance

    • The number of shares outstanding for Southern First Bancshares has seen slight increases over the last few years, reaching 8.03 million at the end of 2025.
    • In 2024, the company had 8.02 million shares outstanding, which was an increase of 0.1% from the previous year.
    • Looking back to 2021, the company reported 7.87 million shares outstanding.

    Capital Expenditures

    • In the fourth quarter of 2025, Southern First invested $272,000 in capital expenditures.
    • This amount represents a 209.1% increase in capital expenditures compared to the prior quarter.
    • These capital expenditures were primarily used for funding long-term assets and infrastructure.

    Peer Outperformance in Regional Banks

    SFST has trailed 78% of its 262 Regional Banks peers over 5Y. Regional Banks ranks 5th of 18 industries in Financials by median 5Y return.
    Share of Regional Banks constituents that SFST has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    82%
    of 283 industry peers · 40.3% return
    3Y
    81%
    of 273 industry peers · 121.1% return
    5Y
    22%
    of 262 industry peers · 27.1% return
    null
    Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is SFST's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Investment Banking & Brokerage 13 5.7%134.1%133.9% IBKR 512% · SNEX 252% · GS 187%
    Reinsurance 6 19.3%80.7%117.8% SPNT 140% · MTG 130% · RGA 128%
    Diversified Banks 12 37.4%131.6%101.7% JPM 153% · CM 148% · RY 135%
    Life & Health Insurance 19 11.2%56.2%84.8% UNM 285% · FG 197% · MFC 172%
    Regional Banks ← 263 25.9%86.0%64.5% GCBC 395% · ESQ 364% · NBN 297%
    Property & Casualty Insurance 42 11.1%74.2%63.8% ASIC 2583900% · HRTG 433% · UVE 278%
    Multi-line Insurance 9 13.5%78.4%57.8% GNW 176% · L 101% · SLF 86%
    Consumer Finance 30 10.1%87.8%34.4% ENVA 660% · EZPW 391% · FCFS 185%
    Multi-Sector Holdings 6 1.4%16.7%33.9% JEF 78% · BRK-B 73% · VOYA 66%
    Insurance Brokers 15 -9.5%11.4%33.7% LIFE 571% · AJG 94% · ARX 87%
    Asset Management & Custody Banks 83 -8.7%23.5%25.5% SII 341% · WT 303% · VCTR 289%
    Financial Exchanges & Data 15 -1.6%14.2%13.9% VIRT 216% · CBOE 156% · CME 69%
    Commercial & Residential Mortgage Finance 12 -31.1%19.6%4.5% FNMA 474% · FMCC 460% · ESNT 60%
    Specialized Finance 3 18.7%53.6%3.7% EFC 36% · CACC 4% · HASI -14%
    Mortgage REITs 34 -7.2%13.6%-11.5% RITM 61% · NREF 53% · DX 41%
    Transaction & Payment Processing Services 15 1.4%8.4%-41.3% MA 65% · V 65% · CPAY 58%
    Diversified Capital Markets 21 -29.3%-4.7%-45.9% BTCS 584% · OPY 176% · LPLA 153%
    Diversified Financial Services 5 -6.3%63.2%-58.0% FRHC 166% · EQH 80% · TMS -58%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

    Latest Trefis Analyses

    Title
    0ARTICLES

    Recent Active Movers

    Top Gainers

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    ETHAiShares Ethereum Trust ETFCryptocurrency28.6%-18.7%
    IBITiShares Bitcoin Trust ETFCryptocurrency22.6%-12.0%
    FBTCFidelity Wise Origin Bitcoin FundCryptocurrency22.4%-12.1%
    RINGiShares MSCI Global Gold Miners ETFEquity15.8%23.4%
    IBBiShares Biotechnology ETFEquity7.7%26.6%
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    PPLTETFS Physical Platinum SharesCommodity7.2%-8.7%
    USOUnited States Oil Fund LPCommodity6.4%94.7%
    ARKKARK Innovation ETFEquity6.3%12.1%
    IAUiShares Gold TrustCommodity5.5%6.9%

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    KREState Street SPDR S&P Regional Bankin...Equity-3.9%16.2%

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    TickerCompanyCategory1M RtnYTD Rtn
    RINGiShares MSCI Global Gold Miners ETFEquity40.9%23.4%
    ETHAiShares Ethereum Trust ETFCryptocurrency29.3%-18.7%
    SLViShares Silver TrustCommodity20.5%-2.6%
    IBITiShares Bitcoin Trust ETFCryptocurrency19.2%-12.0%
    FBTCFidelity Wise Origin Bitcoin FundCryptocurrency18.9%-12.1%
    IGViShares Expanded Tech-Software Sector...Equity18.7%-2.2%
    PPLTETFS Physical Platinum SharesCommodity17.7%-8.7%
    ARKKARK Innovation ETFEquity16.8%12.1%
    GDEWisdomTree Efficient Gold Plus Equity...Equity16.5%0.3%
    GLDMSPDR Gold MiniShares TrustCommodity14.0%7.0%

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    TickerCompanyCategory1M RtnYTD Rtn
    XLUState Street Utilities Select Sector ...Equity-7.4%0.9%
    UNGUnited States Natural Gas Fund LPCommodity-5.8%-18.5%
    SOXXiShares Semiconductor ETFEquity-5.7%72.8%
    SOXQInvesco PHLX Semiconductor ETFEquity-4.9%65.9%
    ICLNiShares Global Clean Energy ETFEquity-4.2%7.1%
    USOUnited States Oil Fund LPCommodity-3.5%94.7%
    SMHVanEck Semiconductor ETFEquity-3.4%55.6%
    EWZiShares MSCI Brazil ETFEquity-3.1%10.4%
    MTUMiShares MSCI USA Momentum Factor ETFEquity-2.8%22.0%
    EDVVanguard World Funds Extended Duratio...Bond-2.2%-6.1%

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    Peer Comparisons

    Peers to compare with:

    Financials

    SFSTSSBABCBPNFPSFBSSMBKMedian
    NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
    Mkt Price63.03106.8686.20102.2643.3451.0474.62
    Mkt Cap0.610.45.815.54.70.95.3
    Rev LTM1332,6561,2293,306619210924
    Op Inc LTM-------
    FCF LTM398605221,43546465493
    FCF 3Y Avg3546738988330951349
    CFO LTM419285491,53647373511
    CFO 3Y Avg3652040996931558362

    Growth & Margins

    SFSTSSBABCBPNFPSFBSSMBKMedian
    NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
    Rev Chg LTM27.4%25.2%9.1%88.5%20.1%12.4%22.7%
    Rev Chg 3Y Avg11.9%15.9%5.2%37.8%10.1%8.5%11.0%
    Rev Chg Q25.3%1.2%8.8%146.1%27.6%13.6%19.5%
    QoQ Delta Rev Chg LTM5.8%0.3%2.1%26.9%6.2%3.3%4.5%
    Op Inc Chg LTM-------
    Op Inc Chg 3Y Avg-------
    Op Mgn LTM-------
    Op Mgn 3Y Avg-------
    QoQ Delta Op Mgn LTM-------
    CFO/Rev LTM31.1%34.9%44.6%46.5%76.4%34.9%39.8%
    CFO/Rev 3Y Avg33.1%24.2%35.4%44.3%58.7%31.1%34.3%
    FCF/Rev LTM29.6%32.4%42.5%43.4%75.0%31.1%37.4%
    FCF/Rev 3Y Avg32.1%21.7%33.7%39.9%57.5%27.5%32.9%

    Valuation

    SFSTSSBABCBPNFPSFBSSMBKMedian
    NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
    Mkt Cap0.610.45.815.54.70.95.3
    P/S4.43.94.74.77.74.14.5
    P/Op Inc-------
    P/EBIT-------
    P/E14.610.915.318.814.815.014.9
    P/CFO14.011.210.510.110.011.710.9
    Total Yield6.8%11.4%7.5%6.5%7.5%7.3%7.4%
    Dividend Yield0.0%2.3%1.0%1.2%0.8%0.7%0.9%
    FCF Yield 3Y Avg10.1%6.0%8.2%-7.3%8.8%8.2%
    D/E0.40.10.20.70.00.10.2
    Net D/E0.3-0.0-0.3-1.0-0.4-0.8-0.4

    Returns

    SFSTSSBABCBPNFPSFBSSMBKMedian
    NameSouthern.SouthSta.Ameris B.Pinnacle.Servisfi.SmartFin. 
    1M Rtn2.5%1.4%-1.7%0.1%-1.1%2.2%0.8%
    3M Rtn10.0%13.7%2.0%5.8%12.0%22.8%11.0%
    6M Rtn3.8%2.6%3.4%2.3%-0.1%22.7%3.0%
    12M Rtn40.3%9.1%20.9%9.1%-1.9%40.2%15.0%
    3Y Rtn121.1%63.5%125.0%9.1%57.7%129.2%92.3%
    1M Excs Rtn0.5%2.6%-6.9%-0.7%-4.0%0.6%-0.1%
    3M Excs Rtn7.4%11.5%-1.2%2.5%8.7%19.8%8.0%
    6M Excs Rtn-7.3%-8.5%-7.6%-8.8%-11.2%11.6%-8.0%
    12M Excs Rtn30.2%-6.6%5.0%-10.9%-15.6%26.4%-0.8%
    3Y Excs Rtn50.8%-16.4%42.7%-65.1%-24.4%51.8%13.1%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q3
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/2023
    Filing Date8/3/20265/1/20262/24/202610/31/20258/1/20255/5/20253/3/202511/1/20247/31/20244/30/20243/5/202410/31/2023
    Key Financials Quarterly            
    Total Revenue363432312926252423212122
    Net Income111010975643344
    EPS1.221.211.231.080.810.650.700.540.370.310.510.51
    Key Financials TTM            
    Total Revenue TTM13312511811110499939088868892
    Net Income TTM403530262218161414131315
    Growth Rates Quarterly            
    Total Revenue Growth25.3%27.6%26.1%31.0%24.2%24.3%18.0%7.6%6.9%-5.2%-17.2%-21.5%
    Net Income Growth70.1%87.8%75.2%97.7%119.4%108.8%35.0%6.9%22.0%-6.7%-24.1%-51.3%
    Margins Quarterly            
    Net Income Margin31.2%29.3%31.0%27.8%23.0%19.9%22.3%18.4%13.0%11.8%19.5%18.5%
    Cash & Debt            
    Total Cash1031158610591423516915214946169
    Total Debt253265265265265265265265276276311311
    Net Debt / (Cash)15115017916017422323096125128265143
    Cash Flows Quarterly            
    FCF from Operations1811-214108-2264-3716
    Cash Flows TTM            
    FCF from Operations TTM413430314336263424131824
    Returns to Shareholders Quarterly            
    Dividends000000000000
    Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly            
    ROIC13.5%14.7%13.3%12.6%9.2%6.3%6.6%8.5%5.2%4.3%4.5%6.7%
    Return on Invested Capital (ROIC) TTM            
    ROIC TTM12.0%13.0%10.3%9.5%7.6%5.5%4.6%6.8%5.9%5.6%3.6%6.0%

    Segment Financials

    Revenue by Segment
    $ Mil20252024202320222021
    Financial service operations1189388108105
    Total1189388108105


    Net Income by Segment
    $ Mil20212020201920182017
    Commercial and retail banking4511252212
    Mortgage banking39311
    Corporate Operations-1-2-1-1-0
    Total4718282213


    Assets by Segment
    $ Mil20212020201920182017
    Commercial and retail banking2,8992,4192,2391,9051,616
    Corporate Operations314265242187163
    Mortgage banking26632798
    Eliminations-314-264-242-201-163
    Total2,9262,4832,2671,9011,625


    Price Behavior

    Price Behavior
    Market Price$63.03 
    Market Cap ($ Bil)0.5 
    First Trading Date10/28/1999 
    Distance from 52W High-2.4% 
       50 Days200 Days
    DMA Price$61.23$56.31
    DMA Trendupup
    Distance from DMA2.9%11.9%
     3M1YR
    Volatility24.5%29.3%
    Downside Capture13.5445.02
    Upside Capture55.6974.88
    Correlation (SPY)5.3%25.2%
    SFST Betas & Captures as of 7/31/2026

     1M2M3M6M1Y3Y
    Beta0.580.010.110.360.630.80
    Up Beta-0.31-0.77-0.610.310.820.77
    Down Beta0.01-0.32-0.17-0.400.270.65
    Up Capture120%64%62%67%82%87%
    Bmk +ve Days11223567138427
    Stock +ve Days12263673131391
    Down Capture88%13%25%58%62%95%
    Bmk -ve Days11212859114326
    Stock -ve Days10172751119355

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SFST
    SFST50.5%29.7%1.38-
    Sector ETF (XLF)10.1%14.6%0.4449.8%
    Equity (SPY)21.1%12.9%1.2224.9%
    Gold (GLD)37.5%28.8%1.10-5.0%
    Commodities (DBC)43.2%20.2%1.66-25.1%
    Real Estate (VNQ)12.9%13.8%0.6431.8%
    Bitcoin (BTCUSD)-31.6%44.1%-0.734.4%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SFST
    SFST4.2%34.0%0.18-
    Sector ETF (XLF)10.1%18.4%0.4153.7%
    Equity (SPY)12.9%17.2%0.5738.5%
    Gold (GLD)20.6%18.6%0.90-2.2%
    Commodities (DBC)10.4%19.6%0.413.8%
    Real Estate (VNQ)2.3%18.9%0.0237.5%
    Bitcoin (BTCUSD)10.4%52.8%0.3814.4%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with SFST
    SFST8.8%37.9%0.34-
    Sector ETF (XLF)13.5%22.0%0.5660.6%
    Equity (SPY)15.2%17.9%0.7245.4%
    Gold (GLD)12.7%16.2%0.64-3.9%
    Commodities (DBC)8.0%18.0%0.3613.0%
    Real Estate (VNQ)5.0%20.7%0.2045.9%
    Bitcoin (BTCUSD)63.1%66.1%1.0311.8%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date7312026
    Short Interest: Shares Quantity0.4 Mil
    Short Interest: % Change Since 7152026-8.8%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest2.9 days
    Basic Shares Quantity9.2 Mil
    Short % of Basic Shares3.8%

    Returns Analyses

    Earnings Returns History

    Updated 8/21/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/21/20260.5%0.3%4.6%
    4/21/20260.6%0.4%-0.7%
    1/22/20263.4%-5.6%6.8%
    10/28/20256.1%4.5%21.0%
    7/22/20259.1%11.0%4.0%
    4/22/20254.1%4.2%19.2%
    1/28/20252.1%-3.6%-8.5%
    10/22/20244.9%4.5%20.1%
    ...
    SUMMARY STATS   
    # Positive161413
    # Negative81011
    Median Positive2.8%4.3%13.0%
    Median Negative-3.3%-3.9%-5.4%
    Max Positive9.1%11.0%22.7%
    Max Negative-7.2%-9.0%-15.0%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    7/21/20260.5%0.3%4.6%
    4/21/20260.6%0.4%-0.7%
    1/22/20263.4%-5.6%6.8%
    10/28/20256.1%4.5%21.0%
    7/22/20259.1%11.0%4.0%
    4/22/20254.1%4.2%19.2%
    1/28/20252.1%-3.6%-8.5%
    10/22/20244.9%4.5%20.1%
    7/18/20243.0%2.0%-9.6%
    4/18/20246.4%0.1%6.4%
    1/18/20241.6%7.6%-5.4%
    10/19/20230.7%-0.7%11.0%
    7/25/2023-1.6%5.0%-0.8%
    4/25/2023-7.2%-9.0%-15.0%
    1/24/2023-5.4%-5.3%-6.7%
    10/25/20223.9%7.0%15.2%
    7/26/2022-3.9%-4.1%-3.5%
    4/26/2022-2.9%-4.7%-10.2%
    1/25/20221.3%-2.3%-4.9%
    10/26/2021-1.0%-0.4%18.2%
    7/27/2021-0.8%-2.2%-2.2%
    4/27/20212.7%5.0%3.5%
    1/26/20210.9%0.9%13.0%
    10/27/2020-3.8%2.5%22.7%
    SUMMARY STATS   
    # Positive161413
    # Negative81011
    Median Positive2.8%4.3%13.0%
    Median Negative-3.3%-3.9%-5.4%
    Max Positive9.1%11.0%22.7%
    Max Negative-7.2%-9.0%-15.0%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/03/202610-Q
    03/31/202605/01/202610-Q
    12/31/202502/24/202610-K
    09/30/202510/31/202510-Q
    06/30/202508/01/202510-Q
    03/31/202505/05/202510-Q
    12/31/202403/03/202510-K
    09/30/202411/01/202410-Q
    06/30/202407/31/202410-Q
    03/31/202404/30/202410-Q
    12/31/202303/05/202410-K
    09/30/202310/31/202310-Q
    06/30/202308/01/202310-Q
    03/31/202305/02/202310-Q
    12/31/202202/13/202310-K
    09/30/202211/01/202210-Q
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/03/202610-Q
    03/31/202605/01/202610-Q
    12/31/202502/24/202610-K
    09/30/202510/31/202510-Q
    06/30/202508/01/202510-Q
    03/31/202505/05/202510-Q
    12/31/202403/03/202510-K
    09/30/202411/01/202410-Q
    06/30/202407/31/202410-Q
    03/31/202404/30/202410-Q
    12/31/202303/05/202410-K
    09/30/202310/31/202310-Q
    06/30/202308/01/202310-Q
    03/31/202305/02/202310-Q
    12/31/202202/13/202310-K
    09/30/202211/01/202210-Q
    06/30/202208/02/202210-Q
    03/31/202205/06/202210-Q
    12/31/202103/04/202210-K
    09/30/202111/02/202110-Q
    06/30/202108/05/202110-Q
    03/31/202104/29/202110-Q
    12/31/202003/02/202110-K
    09/30/202011/02/202010-Q
    06/30/202008/03/202010-Q
    03/31/202004/28/202010-Q
    12/31/201903/02/202010-K
    09/30/201911/01/201910-Q

    Insider Activity

    Updated 8/13/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Seaver, R Arthur JRChief Executive OfficerDirectSell813202663.5921,0001,335,3755,188,695Form
    2Fairchild, Julie AnnChief Accounting OfficerDirectSell804202663.001,50094,500327,600Form
    3Lattimore, Ray DirectSell729202659.2825314,99766,805Form
    4Cubbage, Leighton M DirectSell612202660.6076546,3593,073,329Form
    5Maner, William IV DirectBuy309202652.3540020,940187,675Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Seaver, R Arthur JRChief Executive OfficerDirectSell813202663.5921,0001,335,3755,188,695Form
    2Fairchild, Julie AnnChief Accounting OfficerDirectSell804202663.001,50094,500327,600Form
    3Lattimore, Ray DirectSell729202659.2825314,99766,805Form
    4Cubbage, Leighton M DirectSell612202660.6076546,3593,073,329Form
    5Maner, William IV DirectBuy309202652.3540020,940187,675Form
    6King, Silvia TChief Human Resources OfficerDirectSell227202660.492,625158,796239,737Form
    7Seaver, R Arthur JRChief Executive OfficerDirectSell1217202555.1410,000551,4195,936,246Form
    8Ellison, David G DirectSell1210202553.281,00053,2852,646,186Form
    9Fairchild, Julie AnnChief Accounting OfficerDirectSell1125202550.001,25862,900223,000Form
    10Ellison, David G DirectBuy1106202543.502008,7002,203,754Form
    11Ellison, David G DirectBuy1103202544.001004,4002,220,284Form
    12Locke, Anna T DirectBuy1103202544.052259,912145,027Form
    13Cubbage, Leighton M DirectSell829202545.12351,5792,308,790Form

    Investor Activity (13F)

    Updated Aug 24, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Endeavour Capital Advisors Inc$33.1 Mil7.5%42Hold13F
    Rhino Investment Partners, Inc$11.5 Mil3.2%39Hold13F
    Active Manager
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Endeavour Capital Advisors Inc$33.1 Mil7.5%42Hold13F
    Rhino Investment Partners, Inc$11.5 Mil3.2%39Hold13F

    Southern First Bancshares — Investor Video Playlist

    Industry Resources

    External Quote Links


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