Quarterly ResultJul 21, 2026, 08:36 AM
Southern First Q2 Net Income $11.2M, EPS $1.20
AI Summary
Southern First Bancshares, Inc. announced strong financial results for the second quarter of 2026. Net income rose 70% year-over-year to $11.2 million, with diluted earnings per share increasing 48% to $1.20. The company experienced robust growth in its loan portfolio and retail deposits, alongside significant net interest income growth and an improved capital position following a $65.2 million capital raise.
Key Highlights
- Diluted earnings per common share was $1.20, up $0.39 or 48% compared to Q2 2025.
- Net income improved to $11.2 million, a $4.6 million increase or 70% compared to Q2 2025.
- Total revenue was $35.9 million, an increase of $7.2 million or 25% year-over-year.
- Net interest income improved by $7.1 million or 28% year-over-year, driven by new loan volume.
- Retail client deposits increased by $184 million in Q2, representing a 22% annualized growth rate.
- Loan portfolio grew at an annualized rate of 9% during the quarter to $4.0 billion.
- Strengthened capital position by raising gross proceeds of $65.2 million and issuing 1.2 million shares.
- Tangible common equity to assets was 9.62%, up 160 basis points from Q2 2025.
Price Impact
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