Southern First Bancshares Inc., holding company for Southern First Bank, announced July 27 its net income improved to $10.3 million in the second quarter of 2021, which is a 120.7% increase when compared to the same time in 2020.
“We are incredibly excited about our performance in the second quarter of 2021,” said Southern First Bank chief executive officer Art Seaver. “Highlights from this quarter include solid earnings, significant growth in loans and deposits, and exciting recruiting success as we added talented new bankers in every market we serve.”
The financial institution’s other 2021 second quarter highlights include:
- Diluted earnings per common share improved to $1.29 per share, a 115.0% increase over Q2 2020
- Total loans increased 10.7% to $2.3 billion, compared to $2 billion in Q2 2020
- Total deposits increased 5.6% to $2.3 billion, compared to $2.2 billion in Q2 2020
- Net interest margin improved to 3.5%, compared to 3.42% for Q2 2020
Southern First operates 12 locations in Greenville, Columbia and Charleston as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia.