SFST

Southern First (SFST) came out with quarterly earnings of $1.2 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $0.81 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +0.84%. A quarter ago, it was expected that this holding company for Southern First Bank would post earnings of $1.2 per share when it actually produced earnings of $1.19, delivering a surprise of -0.83%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Southern First, which belongs to the Zacks Banks - Southeast industry, posted revenues of $35.88 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.78%. This compares to year-ago revenues of $28.63 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Southern First shares have added about 19.2% since the beginning of the year versus the S&P 500's gain of 8.7%. While Southern First has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Southern First was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.28 on $38.13 million in revenues for the coming quarter and $5.05 on $147.54 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Colony Bankcorp (CBAN), is yet to report results for the quarter ended June 2026. The results are expected to be released on July 22. This bank holding company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of +4.4%. The consensus EPS estimate for the quarter has been revised 2% higher over the last 30 days to the current level. Colony Bankcorp's revenues are expected to be $40.77 million, up 25.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern First Bancshares, Inc. (SFST) : Free Stock Analysis Report Colony Bankcorp, Inc. (CBAN) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

GREENVILLE, S.C., July 21, 2026 /PRNewswire/ -- Southern First Bancshares, Inc. (NASDAQ: SFST) (Southern First), today announced its financial results for the three months ended June 30, 2026. Strong loan growth and continued margin expansion drove year-over-year net interest income growth of 28%. Net income was $11.2 million and diluted earnings per share was $1.20, representing a $0.39, or 48% increase over the second quarter of 2025, and a slight increase from the first quarter of 2026. Return on average assets was 0.96%, up 33 basis points over the second quarter of last year, and tangible common equity to assets was 9.62%, up 160 basis points from the second quarter of 2025. Key asset quality metrics were consistent both on a linked quarter and year-over-year basis. Net charge-offs were approximately $96 thousand, or 0.01% of average loans, annualized, and nonperforming assets were 0.27% of total assets. Provision for credit losses decreased by $275 thousand from the prior quarter, and the allowance for credit losses represented 1.10% of loans. "Our second quarter 2026 results continue to show impressive momentum. We increased retail client deposits by $184 million in the second quarter, representing a 22% annualized growth rate, and our loan portfolio grew at an annualized rate of 9% during the quarter. Our efficient business model, vibrant markets, and focus on organic growth are creating value for our clients and our shareholders. Our second quarter net income was $11.2 million, a 70% increase from the same quarter last year and a 13% increase over the first quarter of 2026. We also strengthened our capital position by raising gross proceeds of $65.2 million and issuing 1.2 million additional common shares earlier in the quarter to support our strong growth expectations. As planned, we redeemed a portion of our subordinated notes, which were subject to phase-out from regulatory capital treatment and carried a higher interest rate. We are proud of our team and our accomplishments this quarter, which we believe positions us for continued success in the second half of 2026," stated Art Seaver, Chief Executive Officer. Financial Highlights – Second Quarter 2026: Earnings Diluted earnings per common share was $1.20, up $0.39 or 48% compared to the second quarter of 2025 and up by $0.01 from the first quarter of 2026 Net income improved to $11.2 million, a $4.6 million increase or 70% compared to the second quarter of 2025 and a $1.3 million increase or 13%, compared to the first quarter of 2026 Total revenue was $35.9 million, an increase of $7.2 million or 25% year-over-year and $2.1 million on a linked quarter basis Net interest income improved by $7.1 million or 28% year-over-year driven primarily by new loan volume Net interest margin was 2.87%, a 37-basis point increase from 2.50% for the second quarter of 2025 and a one basis point decrease from the first quarter of 2026, which included a one-time increase in interest income from the repayment of a $5.1 million nonperforming loan Noninterest income was $3.5 million compared to $3.3 million for the second quarter of 2025 Service fees on deposit accounts increased 53% compared to the second quarter of 2025 and 15% from last quarter due in part to an increased focus on treasury management services Noninterest expense to average assets was 1.75%, compared to 1.86% for the second quarter of 2025 Return on average equity was 10.28%, compared to 7.71% for the second quarter of 2025 Return on average assets was 0.96%, compared to 0.63% for the second quarter of 2025 Balance Sheet Total loans were $4.0 billion, up $88 million or 9% (annualized) from the first quarter of 2026 Retail deposits were $3.6 billion, up $184 million or 22% (annualized) from the first quarter of 2026 Wholesale deposits were reduced by $181.3 million, or 32% from the second quarter of 2025 and $122.3 million or 98% (annualized) from the first quarter of 2026 Book value per common share was $47.77, an increase of 15% (annualized) from the first quarter of 2026 Tangible common equity (TCE) ratio was 9.62%, up 133 basis points on a linked quarter basis and up from 8.02% for the second quarter of 2025 Common Equity Tier 1 ratio (CET1) was 12.81%, up 178 basis points from the first quarter of 2026 and up from 10.71% for the second quarter 2025 Book value per share, tangible common equity ratio and Common Equity Tier 1 ratio were each positively affected by our recent capital raise of $65.2 million Asset Quality Nonperforming assets to total assets were 0.27%, compared to 0.26% for the linked quarter, while accruing loans 30 days or more past due to total loans decreased to 0.10%, compared to 0.20% for the first quarter Classified assets/Tier 1 capital plus allowance for credit losses was 3.15% compared to 3.25% for the linked quarter end Provision for credit losses was $1.0 million and includes a $950 thousand provision for loan losses and a $75 thousand provision for unfunded commitments driven by new loan growth; allowance for credit losses to total loans remained at 1.10% for the quarter Net charge-offs were 0.01% as a percentage of average loans on an annualized basis ABOUT SOUTHERN FIRST BANCSHARESSouthern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The company's wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. Southern First Bancshares has consolidated assets of approximately $4.7 billion, and its common stock is traded on The NASDAQ Global Market under the symbol "SFST." More information can be found at www.southernfirst.com. FORWARD-LOOKING STATEMENTSCertain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are identified by words such as "believe," "expect," "anticipate," "estimate," "preliminary", "intend," "plan," "target," "continue," "lasting," and "project," as well as similar expressions. Such statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (2) the strength of the United States economy in general and the strength of the local economies in which the company conducts operations may be different than expected; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan and deposit growth as well as pricing of each product, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action, including, but not limited to, changes affecting oversight of the financial services industry or consumer protection; (5) the impact of changes to Congress and the office of the President on the regulatory landscape and capital markets; (6) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could continue to have a negative impact on the company; (7) changes in interest rates, which may continue to affect the company's net income, interest expense, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of the company's assets, including its investment securities; (8) trade wars, government shutdowns, or a potential recession which may cause adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; (9) any increase in FDIC assessments which have increased and may continue to increase our cost of doing business; and (10) changes in accounting principles, policies, practices, or guidelines. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available at the SEC's Internet site (http://www.sec.gov). All subsequent written and oral forward-looking statements concerning the company or any person acting on its behalf are expressly qualified in its entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. MEDIA CONTACT:ART SEAVER 864-679-9010 FINANCIAL CONTACT:CHRIS ZYCH 864-679-9070 WEB SITE: www.southernfirst.com View original content to download multimedia:https://www.prnewswire.com/news-releases/southern-first-reports-second-quarter-2026-results-302829683.html

Southern First (SFST) came out with quarterly earnings of $1.19 per share, missing the Zacks Consensus Estimate of $1.2 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -0.42%. A quarter ago, it was expected that this holding company for Southern First Bank would post earnings of $1.11 per share when it actually produced earnings of $1.21, delivering a surprise of +9.01%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Southern First, which belongs to the Zacks Banks - Southeast industry, posted revenues of $33.8 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.21%. This compares to year-ago revenues of $26.5 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Southern First shares have added about 8.9% since the beginning of the year versus the S&P 500's gain of 3.9%. While Southern First has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Southern First was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.27 on $33.68 million in revenues for the coming quarter and $5.18 on $136.73 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. South Plains Financial (SPFI), another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 28. This company is expected to post quarterly earnings of $0.88 per share in its upcoming report, which represents a year-over-year change of +22.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. South Plains Financial's revenues are expected to be $54.35 million, up 10.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern First Bancshares, Inc. (SFST) : Free Stock Analysis Report South Plains Financial, Inc. (SPFI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

GREENVILLE, S.C., April 21, 2026 /PRNewswire/ -- Southern First Bancshares, Inc. (NASDAQ: SFST) (Southern First), today announced its financial results for the three months ended March 31, 2026. Strong loan growth and continued margin expansion drove year-over-year net interest income growth of 29%. Net income was $9.9 million and diluted earnings per share was $1.19, representing a $0.54, or 83%, increase over the first quarter of 2025, and relatively unchanged from the fourth quarter of 2025. Return on average assets was 0.91%, up 39 basis points over the first quarter of last year, and tangible common equity to assets was 8.29%, up 41 basis points from the first quarter of 2025. Net charge-offs were approximately $50 thousand, or 0.01% of average loans, annualized, consistent with linked quarter and year-over-year results. Nonperforming assets were 0.26% of total assets, down from 0.32% for the fourth quarter. Provision for credit losses increased by $650 thousand, and the allowance for credit losses represented 1.10% of loans, consistent with the past several quarters. "We are excited to report our first quarter 2026 results which include record retail deposit growth of nearly $210 million, representing a 27% annualized growth rate. Our first quarter 2026 net income was $9.9 million and is 88% higher than the same quarter last year. We have tremendous momentum in growing client relationships and raised additional capital in the form of common equity this quarter to support our growth expectations," stated Art Seaver, Chief Executive Officer. On April 15, 2026, Southern First announced an underwritten public offering of 1,050,000 shares of common stock and granted the underwriters an option to purchase up to 157,500 additional shares. The offering closed on April 17, 2026, with a total of 1,207,500 shares issued at $54.00 per share for aggregate gross proceeds of approximately $65.2 million before discounts and expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth initiatives, providing capital to the Company's bank subsidiary, redeeming or repurchasing outstanding indebtedness, including subordinated debt, and for working capital purposes. Financial Highlights – First Quarter 2026: Earnings Diluted earnings per common share was $1.19, up $0.54, or 83%, compared to the first quarter of 2025; and down slightly by $0.01 from the fourth quarter of 2025 Net income improved to $9.9 million, a $4.6 million increase, or 88%, compared to the first quarter of 2025 Total revenue was $33.8 million, an increase of $7.3 million, or 28%, year-over-year and $2.0 million on a linked quarter basis Net interest income improved by $6.9 million, or 29% year-over-year, driven primarily by new loan volume Net interest margin was 2.88%, a 16 basis point increase from 2.72% for the fourth quarter of 2025, and included a $543 thousand repayment of interest on one large nonaccrual loan Noninterest income was $3.5 million compared to $3.1 million for the first quarter last year; the increase was impacted by a one-time $515 thousand loss on the sale of securities in the fourth quarter of 2025 Noninterest expense to average assets was 1.84%, compared to 1.87% for first quarter of 2025 Return on average equity was 10.67%, compared to 6.38% for the first quarter of 2025 Return on average assets was 0.91%, compared to 0.52% for the first quarter of 2025 Balance Sheet Total loans were $3.9 billion, up $97.1 million, or 10% (annualized), from the fourth quarter of 2025 Retail deposits were $3.4 billion, up $207.8 million, or 27% (annualized) from the fourth quarter of 2025 Book value per common share was $46.00, an increase of 10% (annualized) from the fourth quarter of 2025 Tangible common equity (TCE) ratio was 8.29%, down 8 basis points on a linked quarter basis driven by loan growth, and up from 7.88% for the first quarter of 2025 Common equity Tier1 ratio (CET1) was 11.03%, down slightly from the fourth quarter of 2025, and up from 10.75% for the first quarter 2025 Asset Quality Nonperforming assets to total assets were 0.26%, compared to 0.32% for the linked quarter, primarily due to the repayment of a large nonaccrual loan, while accruing loans 30 days or more past due to total loans were 0.20%, compared to 0.14% for the fourth quarter Classified assets were 3.25% as a percentage of total loans compared to 4.28% for the linked quarter end Provision for credit losses was $1.3 million and includes a $1.2 million provision for loan losses and a $150 thousand provision for unfunded commitments driven by new loan growth; Allowance for credit losses to total loans remained at 1.10% for the quarter Net charge-offs were 0.01% as a percentage of average loans on an annualized basis ABOUT SOUTHERN FIRST BANCSHARES Southern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The company's wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. Southern First Bancshares has consolidated assets of approximately $4.6 billion and its common stock is traded on The NASDAQ Global Market under the symbol "SFST." More information can be found at www.southernfirst.com. FORWARD-LOOKING STATEMENTS Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are identified by words such as "believe," "expect," "anticipate," "estimate," "preliminary", "intend," "plan," "target," "continue," "lasting," and "project," as well as similar expressions. Such statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (2) the strength of the United States economy in general and the strength of the local economies in which the company conducts operations may be different than expected; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan and deposit growth as well as pricing of each product, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action, including, but not limited to, changes affecting oversight of the financial services industry or consumer protection; (5) the impact of changes to Congress and the office of the President on the regulatory landscape and capital markets; (6) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could continue to have a negative impact on the company; (7) changes in interest rates, which may continue to affect the company's net income, interest expense, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of the company's assets, including its investment securities; (8) trade wars, government shutdowns, or a potential recession which may cause adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; (9) any increase in FDIC assessments which have increased and may continue to increase our cost of doing business; and (10) changes in accounting principles, policies, practices, or guidelines. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available at the SEC's Internet site (http://www.sec.gov). All subsequent written and oral forward-looking statements concerning the company or any person acting on its behalf are expressly qualified in its entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. MEDIA CONTACT: ART SEAVER 864-679-9010 FINANCIAL CONTACT: CHRIS ZYCH 864-679-9070 WEB SITE: www.southernfirst.com View original content to download multimedia:https://www.prnewswire.com/news-releases/southern-first-reports-first-quarter-2026-results-302747706.html

GREENVILLE, S.C., Jan. 22, 2026 /PRNewswire/ -- Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today announced its financial results for the three and twelve months ended December 31, 2025. "We are very pleased to report our fourth quarter financial performance, which was our strongest of 2025 and clearly demonstrates the continued momentum we achieved throughout the year. We maintained solid loan growth, funded by even stronger growth in client deposits. Our full banking relationship strategy continues to drive improving financial returns, including an expanding net interest margin that increased 10 basis points from last quarter and 36 basis points over last year. We continue to strengthen our balance sheet with higher capital levels and have again achieved outstanding asset quality. Our team remains highly motivated and intentional about improving financial performance while delivering client service at levels that are second to none, and that commitment was clearly reflected in our results this quarter and throughout the year. We are fortunate to operate in some of the strongest markets in the Southeast and will continue expanding our teams to grow our business in the disciplined manner that has defined our success. While we remain mindful of broader economic conditions and factors impacting our business, our markets have proven to be resilient and offer tremendous growth opportunities that we intend to fully capitalize on," stated Art Seaver, Chief Executive Officer. "Looking ahead to the new year, we are optimistic and have high expectations for continued financial performance improvement. Our business pipeline is strong and our team is ready. We expect to build on our track record of attracting experienced bankers who share our commitment to exceptional client service and to supporting our local communities, which remains at the core of everything we do." 2025 Fourth Quarter Highlights Diluted earnings per common share of $1.21, up $0.14, or 13%, from Q3 2025, and up $0.51, or 73%, compared to Q4 2024 Net interest margin of 2.72%, compared to 2.62% for Q3 2025 and 2.25% for Q4 2024 Total loans of $3.8 billion, up 6% from Q4 2024; Total deposits of $3.7 billion, up 8% from Q4 2024; Core deposits of $2.9 billion, up 8% from Q4 2024 Nonperforming assets to total assets of 0.32% and past due loans to total loans of 0.13% Book value per common share of $44.89 increased 3% from Q3 2025 and increased 11% compared to Q4 2024; Tangible Common Equity (TCE) ratio of 8.37% Net income for the fourth quarter of 2025 was $9.9 million, or $1.21 per diluted share, a $1.2 million increase from the third quarter of 2025 and a $4.2 million increase from the fourth quarter of 2024. Net interest income increased $1.2 million during the fourth quarter of 2025, as compared to the third quarter of 2025, and increased $6.3 million, as compared to the fourth quarter of 2024. The increase in net interest income from the prior quarter and prior year was primarily driven by an increase in interest income on loans, combined with a decrease in interest expense on deposits. The provision for credit losses was $650 thousand for the fourth quarter of 2025 compared to a provision for credit losses of $850 thousand for the third quarter of 2025 and a $200 thousand reversal of the provision for credit losses for the fourth quarter of 2024. The provision during the fourth quarter of 2025 includes a $550 thousand provision for credit losses and a $100 thousand provision for the reserve for unfunded commitments. The provision for credit losses in the fourth quarter of 2025 was primarily driven by an increase in the impairment on individually evaluated loans. Noninterest income was $3.1 million for the fourth quarter of 2025, compared to $3.6 million for the third quarter of 2025, and $2.8 million for the fourth quarter of 2024. Mortgage banking income continues to be the largest component of noninterest income at $1.7 million in fee revenue for the fourth quarter of 2025 and $1.0 million for the fourth quarter of 2024. The decrease in noninterest income from the previous quarter was driven by a $515 thousand loss on the sale of securities, as we executed transactions in our portfolio as part of our overall balance sheet and interest rate risk management strategies. Noninterest expense for the fourth quarter of 2025 was $18.4 million, a $530 thousand decrease from the third quarter of 2025, and a $128 thousand decrease from the fourth quarter of 2024. The decrease in noninterest expense from the previous quarter was driven by a decrease in compensation and benefits primarily related to a reduction in group medical insurance expense, offset in part by an increase in professional fees and other noninterest expenses. The decrease in noninterest expense from the previous year related primarily to decreases in compensation and benefits, occupancy, and insurance expense, offset in part by an increase in outside service and data processing costs. The effective tax rate was 22.8% for the fourth quarter of 2025, 23.6% for the third quarter of 2025, and 18.4% for the fourth quarter of 2024. The changes in the effective tax rate are driven by the effect of equity compensation transactions during the quarter. Net interest income was $28.7 million for the fourth quarter of 2025, a $1.2 million increase from the third quarter of 2025, driven by a $1.7 million decrease in interest expense. The decrease in interest expense was driven by a 22 basis point decrease in the cost of our interest-bearing deposits over the previous quarter. In comparison to the fourth quarter of 2024, net interest income increased $6.3 million, resulting primarily from $218 million growth in the average balances of our interest-earning assets combined with a 56 basis point decrease in the cost of interest-bearing deposits. Net interest margin, on a tax-equivalent basis, was 2.72% for the fourth quarter of 2025, a 10 basis point increase from 2.62% for the third quarter of 2025 and a 47 basis point increase from 2.25% for the fourth quarter of 2024. Total nonperforming assets were $14.1 million at December 31, 2025, representing 0.32% of total assets compared to 0.27% for the third quarter of 2025 and 0.27% for the fourth quarter of 2024. In addition, the classified asset ratio increased to 4.22% for the fourth quarter of 2025 from 3.90% in the third quarter of 2025 and decreased from 4.25% in the fourth quarter of 2024. At December 31, 2025, the allowance for credit losses was $42.3 million, or 1.10% of total loans, compared to $41.8 million, or 1.10% of total loans at September 30, 2025, and $39.9 million, or 1.10% of total loans, at December 31, 2024. We had net charge-offs of $69 thousand for the fourth quarter of 2025, compared to net recoveries of $14 thousand for the third quarter of 2025 and net charge-offs of $2 thousand for the fourth quarter of 2024. There was a provision for credit losses of $550 thousand for the fourth quarter of 2025, compared to a provision for credit losses of $500 thousand for the third quarter of 2025 and a reversal of the provision for credit losses of $250 thousand for the fourth quarter of 2024. The provision during the fourth quarter of 2025 was primarily driven by additional impairment on our individually evaluated loans. ABOUT SOUTHERN FIRST BANCSHARES Southern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The company's wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. Southern First Bancshares has consolidated assets of approximately $4.4 billion and its common stock is traded on The NASDAQ Global Market under the symbol "SFST." More information can be found at www.southernfirst.com. FORWARD-LOOKING STATEMENTS Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are identified by words such as "believe," "expect," "anticipate," "estimate," "preliminary", "intend," "plan," "target," "continue," "lasting," and "project," as well as similar expressions. Such statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (2) the strength of the United States economy in general and the strength of the local economies in which the company conducts operations may be different than expected; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan and deposit growth as well as pricing of each product, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action, including, but not limited to, changes affecting oversight of the financial services industry or consumer protection; (5) the impact of changes to Congress and the office of the President on the regulatory landscape and capital markets; (6) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could continue to have a negative impact on the company; (7) changes in interest rates, which may continue to affect the company's net income, interest expense, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of the company's assets, including its investment securities; (8) trade wars, government shutdowns, or a potential recession which may cause adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; (9) any increase in FDIC assessments which have increased and may continue to increase our cost of doing business; and (10) changes in accounting principles, policies, practices, or guidelines. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available at the SEC's Internet site (http://www.sec.gov). All subsequent written and oral forward-looking statements concerning the company or any person acting on its behalf are expressly qualified in its entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. FINANCIAL & MEDIA CONTACT: ART SEAVER 864-679-9010 WEB SITE: www.southernfirst.com View original content to download multimedia:https://www.prnewswire.com/news-releases/southern-first-reports-fourth-quarter-2025-results-302666859.html

Southern First (SFST) came out with quarterly earnings of $1.21 per share, beating the Zacks Consensus Estimate of $1.11 per share. This compares to earnings of $0.7 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.01%. A quarter ago, it was expected that this holding company for Southern First Bank would post earnings of $0.89 per share when it actually produced earnings of $1.07, delivering a surprise of +20.22%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Southern First, which belongs to the Zacks Banks - Southeast industry, posted revenues of $31.83 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 0.21%. This compares to year-ago revenues of $25.24 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Southern First shares have added about 10.4% since the beginning of the year versus the S&P 500's gain of 0.4%. While Southern First has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Southern First was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.00 on $32.9 million in revenues for the coming quarter and $4.44 on $141.4 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. United Bankshares (UBSI), another stock in the same industry, has yet to report results for the quarter ended December 2025. This holding company for United Bank is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents a year-over-year change of +24.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. United Bankshares' revenues are expected to be $315.48 million, up 20.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern First Bancshares, Inc. (SFST) : Free Stock Analysis Report United Bankshares, Inc. (UBSI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

GREENVILLE, S.C., Oct. 28, 2025 /PRNewswire/ -- Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today announced its financial results for the nine months ended September 30, 2025. "Our third quarter financial performance clearly shows the steady momentum that continued this quarter, in line with our expectations. Our team remains highly focused on executing our plans for increased profitability and high-quality loan growth, funded by client retail deposits, which is core to our full relationship banking strategy. Superior asset quality metrics and margin expansion are the result of our intentional and disciplined approach. We have again achieved historically high revenue growth over the same quarter last year, at a rate which was two and a half times our expense growth. This expanded profitability further strengthened capital levels, providing ample support for our strong business pipelines. Although we maintain a cautious outlook and actively monitor for emerging risks, our markets have continued to exhibit vibrant and sustainable growth momentum," stated Art Seaver, Chief Executive Officer. "We continue to attract and retain experienced bankers who share our commitment to outstanding client service, delivered with a personal touch, and to supporting our local communities. Our Southeastern markets remain healthy and resilient, and we are well positioned to benefit from the opportunities created by ongoing banking industry consolidation. This quarter's results reinforce our optimism in the financial outlook for the remainder of the year." 2025 Third Quarter Highlights Diluted earnings per common share of $1.07, up $0.26, or 32%, from Q2 2025, and $0.53, or 98%, compared to Q3 2024 Net interest margin of 2.62%, compared to 2.50% for Q2 2025 and 2.08% for Q3 2024 Total loans of $3.8 billion, up 4% (annualized) from Q2 2025; core deposits of $2.9 billion, up 2% (annualized) from Q2 2025 Nonperforming assets to total assets of 0.27% and past due loans to total loans of 0.18% Book value per common share of $43.51 increased 12% (annualized) from Q2 2025 and 9% compared to Q3 2024; Tangible Common Equity (TCE) ratio of 8.18% Net income for the third quarter of 2025 was $8.7 million, or $1.07 per diluted share, a $2.1 million increase from the second quarter of 2025 and a $4.3 million increase from the third quarter of 2024. Net interest income increased $2.2 million during the third quarter of 2025, compared to the second quarter of 2025, and increased $6.9 million, compared to the third quarter of 2024. The increase in net interest income from the prior quarter and prior year was primarily driven by an increase in interest income on loans, combined with a decrease in interest expense on deposits. The provision for credit losses was $850 thousand for the third quarter of 2025 compared to a provision for credit losses of $700 thousand for the second quarter of 2025 and no provision for credit losses for the third quarter of 2024. The provision during the third quarter of 2025 includes a $500 thousand provision for credit losses and a $350 thousand provision for the reserve for unfunded commitments. The provision for credit losses in the third quarter of 2025 was primarily driven by a change in qualitative factors related to an increase in past due loans and risk migration among our commercial business and non-owner occupied loans. Noninterest income was $3.6 million for the third quarter of 2025, compared to $3.3 million for the second quarter of 2025, and $3.2 million for the third quarter of 2024. Mortgage banking income continues to be the largest component of noninterest income at $1.6 million in fee revenue for the third and second quarters of 2025, and $1.4 million for the third quarter of 2024. In addition, service fees on deposit accounts increased 10% over the prior quarter and 37% over the prior year. Noninterest expense for the third quarter of 2025 was $18.9 million, a $390 thousand decrease from the second quarter of 2025, and a $907 thousand increase from the third quarter of 2024. The decrease in noninterest expense from the previous quarter was driven by a decrease in compensation and benefits and occupancy expenses, offset in part by an increase in insurance expense. The increase in noninterest expense from the previous year related primarily to increases in compensation and benefits, outside service and data processing costs, and other noninterest expenses, offset in part by a decrease in occupancy. The effective tax rate was 23.6% for the third quarter of 2025, 23.4% for the second quarter of 2025, and 23.5% for the third quarter of 2024. The changes in the effective tax rate are driven by the effect of equity compensation transactions during the quarter. Net interest income was $27.5 million for the third quarter of 2025, a $2.2 million increase from the second quarter of 2025, driven by a $2.7 million increase in interest income, partially offset by a $434 thousand increase in interest expense. The increase in interest income was driven by an increase in the yield on interest-earning assets, as loan yield increased seven basis points over the previous quarter. In addition, the cost of our interest-bearing deposits decreased seven basis points over the previous quarter. In comparison to the third quarter of 2024, net interest income increased $6.9 million, resulting primarily from a 65 basis point decrease in the cost of interest-bearing deposits. Net interest margin, on a tax-equivalent basis, was 2.62% for the third quarter of 2025, a 12 basis point increase from 2.50% for the second quarter of 2025 and a 54 basis point increase from 2.08% for the third quarter of 2024. Total nonperforming assets were $11.7 million at September 30, 2025, representing 0.27% of total assets compared to 0.27% for the second quarter of 2025 and 0.28% for the third quarter of 2024. In addition, the classified asset ratio decreased to 3.90% for the third quarter of 2025 from 4.28% in the second quarter of 2025 and 4.35% in the third quarter of 2024. At September 30, 2025, the allowance for credit losses was $41.8 million, or 1.10% of total loans, compared to $41.3 million, or 1.10% of total loans at June 30, 2025, and $40.2 million, or 1.11% of total loans, at September 30, 2024. We had net recoveries of $14 thousand, for the third quarter of 2025, compared to net charge-offs of $52 thousand for the second quarter of 2025 and net recoveries of $9 thousand for the third quarter of 2024. There was a provision for credit losses of $500 thousand for the third quarter of 2025, compared to a provision for credit losses of $650 thousand for the second quarter of 2025 and no provision for credit losses for the third quarter of 2024. The provision during the third quarter of 2025 was primarily driven by changes in qualitative factors related to an increase in past due loans and risk migration among our commercial business and non-owner occupied loans. ABOUT SOUTHERN FIRST BANCSHARES Southern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The company's wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. Southern First Bancshares has consolidated assets of approximately $4.4 billion and its common stock is traded on The NASDAQ Global Market under the symbol "SFST." More information can be found at www.southernfirst.com. FORWARD-LOOKING STATEMENTS Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are identified by words such as "believe," "expect," "anticipate," "estimate," "preliminary", "intend," "plan," "target," "continue," "lasting," and "project," as well as similar expressions. Such statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) competitive pressures among depository and other financial institutions may increase significantly and have an effect on pricing, spending, third-party relationships and revenues; (2) the strength of the United States economy in general and the strength of the local economies in which the company conducts operations may be different than expected; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan and deposit growth as well as pricing of each product, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in legislation, regulation, policies, or administrative practices, whether by judicial, governmental, or legislative action, including, but not limited to, changes affecting oversight of the financial services industry or consumer protection; (5) the impact of changes to Congress and the office of the President on the regulatory landscape and capital markets; (6) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could continue to have a negative impact on the company; (7) changes in interest rates, which may continue to affect the company's net income, interest expense, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of the company's assets, including its investment securities; (8) trade wars, government shutdowns, or a potential recession which may cause adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; (9) any increase in FDIC assessments which have increased and may continue to increase our cost of doing business; and (10) changes in accounting principles, policies, practices, or guidelines. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our reports (such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available at the SEC's Internet site (http://www.sec.gov). All subsequent written and oral forward-looking statements concerning the company or any person acting on its behalf are expressly qualified in its entirety by the cautionary statements above. We do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law. FINANCIAL & MEDIA CONTACT: ART SEAVER 864-679-9010 WEB SITE: www.southernfirst.com View original content to download multimedia:https://www.prnewswire.com/news-releases/southern-first-reports-third-quarter-2025-results-302594242.html