Southern First Bancshares (SFST) investor relations material

Executive summary

• Q3 net income was $12.2M, up 41% YoY and 9% QoQ; diluted EPS was $1.28, up 21% YoY.

• Net interest income grew 25.9% YoY to $34.7M as loan growth and margin expansion supported profitability.

Financial highlights

• Total revenue was $37.5M, up 21% YoY; noninterest income declined 20.4% to $2.9M as more mortgage loans were retained rather than sold.

• Noninterest expense rose 7.2% YoY to $20.3M; provision for credit losses was $1.4M versus $850,000 a year earlier.

• Retail deposit service fees increased 45% YoY and 5% QoQ, supported in part by greater focus on treasury-management services.

• Total assets were $4.9B; loans were $4.18B and deposits were $4.1B at September 30, 2026.

• Core revenue increased 83% since Q1 2024, while noninterest expense rose 12% over the same period.

Outlook and guidance

• Management said Q3 performance positioned the business to finish 2026 strong; continued NIM improvement is expected, with additional Fed rate cuts expected to accelerate expansion.

• Revenue momentum is expected to continue through NIM expansion and loan growth; balance-sheet repricing and lower deposit costs support profitability.

• Average yield on new loan production was 6.44%, and average cost of new retail deposits was 3.05%; $29M of noncontractual loan payoffs below 6% increased repricing velocity.

• Strategy prioritizes profitable organic growth and treasury-management revenue; no acquisitions of fee-income businesses were planned.