SFST

MKT CAP:$532M

Southern First Bancshares, Inc.

Market Cap

$532M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$56.65+$4.95 (+9.57%)

Apr 23, 2026

Company Details

Southern First Bancshares, Inc. operates as the bank holding company for Southern First Bank that provides various banking products and services to general public in South Carolina, North Carolina, and Georgia. It operates through three seg...

CEO

R. Arthur Seaver Jr.

IPO Date

Oct 28, 1999

Website

www.southernfirst.com

Key Metrics TTM

Revenue

$206M

-4.4% YoY

Net Income

$35M

EPS (Diluted)

$4.29

Free Cash Flow

$30M

Revenue / Share

$24.80

Gross Margin

59.3%

Operating Margin

22.0%

Net Margin

17.0%

FCF Margin

14.5%

P/S

2.6x

P/E

15.2x

Earnings Reports

Q1 2026

Mar 30, 2026

$34M-35.9%EPS $1.20

FY 2025

Feb 24, 2026

$225M+5.3%EPS $3.75

Q4 2025

Feb 24, 2026

$58M+6.9%EPS $1.21

Q3 2025

Oct 31, 2025

$59M+7.8%EPS $1.07

Q2 2025

Aug 1, 2025

$56M+2.9%EPS $0.81

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$30M	$26M	$10M
Q3 22	$34M	$27M	$11M
Q4 22	$36M	$23M	$7M
Q1 23	$40M	$21M	$4M
Q2 23	$45M	$21M	$3M
Q3 23	$50M	$23M	$5M
Q4 23	$51M	$22M	$5M
Q1 24	$51M	$21M	$3M
Q2 24	$54M	$23M	$4M
Q3 24	$54M	$24M	$6M
Q4 24	$54M	$25M	$7M
Q1 25	$53M	$26M	$7M
Q2 25	$56M	$28M	$9M
Q3 25	$59M	$30M	$11M
Q4 25	$58M	$31M	$13M
Q1 26	$34M	$32M	$12M

Valuation

Quarter	P/S	P/E
Q2 22	3.2x	8.5x
Q3 22	2.9x	9.5x
Q4 22	2.8x	12.2x
Q1 23	1.8x	10.5x
Q2 23	1.3x	10.6x
Q3 23	1.2x	14.4x
Q4 23	1.6x	23.0x
Q1 24	1.2x	18.6x
Q2 24	1.1x	17.1x
Q3 24	1.3x	19.7x
Q4 24	1.5x	20.7x
Q1 25	1.2x	14.6x
Q2 25	1.4x	14.1x
Q3 25	1.6x	13.8x
Q4 25	1.9x	13.8x
Q1 26	2.1x	12.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$8M	$2M
Q2 22	$7M	$3M
Q3 22	$22M	$18M
Q4 22	$13M	$13M
Q1 23	$1M	$1M
Q2 23	-$7M	-$7M
Q3 23	$16M	$16M
Q4 23	$7M	$7M
Q1 24	-$3M	-$3M
Q2 24	$4M	$4M
Q3 24	$26M	$26M
Q4 24	-$2M	-$2M
Q1 25	$8M	$7M
Q2 25	$10M	$10M
Q3 25	$14M	$14M
Q4 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$6M
Q2 22	$3M
Q3 22	$4M
Q4 22	$816.0K
Q1 23	$180.0K
Q2 23	$587.0K
Q3 23	$353.0K
Q4 23	$122.0K
Q1 24	$280.0K
Q2 24	$92.0K
Q3 24	$195.0K
Q4 24	$218.0K
Q1 25	$141.0K
Q2 25	$80.0K
Q3 25	$88.0K
Q4 25	$272.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+13.4%	+57.5%
Q3 22	+21.2%	+140.3%
Q4 22	+40.8%	+188.3%
Q1 23	+47.4%	+115.5%
Q2 23	+51.9%	+107.6%
Q3 23	+49.3%	+99.8%
Q4 23	+41.6%	+57.7%
Q1 24	+26.4%	+29.3%
Q2 24	+19.0%	+19.0%
Q3 24	+8.3%	+8.3%
Q4 24	+4.7%	+1.9%
Q1 25	+3.4%	-3.8%
Q2 25	+2.9%	-6.2%
Q3 25	+7.8%	-2.8%
Q4 25	+6.9%	-4.5%
Q1 26	-35.9%	-53.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$492.0K	1.8%
Q2 22	$495.0K	1.7%
Q3 22	$514.0K	1.5%
Q4 22	$525.0K	1.4%
Q1 23	$483.0K	1.2%
Q2 23	$473.0K	1.0%
Q3 23	$519.0K	1.0%
Q4 23	$468.0K	0.9%
Q1 24	$555.0K	1.1%
Q2 24	$562.0K	1.0%
Q3 24	$582.0K	1.1%
Q4 24	$584.0K	1.1%
Q1 25	$537.0K	1.0%
Q2 25	$605.0K	1.1%
Q3 25	$539.0K	0.9%
Q4 25	$591.0K	1.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$10M	$329.0K
Q3 22	$12M	$338.0K
Q4 22	$6M	$282.0K
Q1 23	$11M	$366.0K
Q2 23	$11M	$335.0K
Q3 23	$11M	$293.0K
Q4 23	$5M	$364.0K
Q1 24	$12M	$369.0K
Q2 24	$12M	$389.0K
Q3 24	—	$319.0K
Q4 24	$12M	$335.0K
Q1 25	$509.0K	$374.0K
Q2 25	$609.0K	$397.0K
Q3 25	$17M	$412.0K
Q4 25	$13M	—
Q1 26	$14M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$58M	$99M	$157M
Q3 22	$21M	$92M	$113M
Q4 22	$70M	$93M	$163M
Q1 23	$30M	$94M	$124M
Q2 23	$35M	$92M	$126M
Q3 23	$25M	$144M	$169M
Q4 23	$37M	$9M	$46M
Q1 24	$23M	$126M	$149M
Q2 24	$30M	$121M	$152M
Q3 24	$34M	$135M	$169M
Q4 24	$34M	$461.0K	$35M
Q1 25	$41M	$465.0K	$42M
Q2 25	$90M	$466.0K	$91M
Q3 25	$104M	$469.0K	$105M
Q4 25	$28M	$128M	$156M
Q1 26	$33M	$0	$33M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	8M	-0.5%	+0.7%
Q3 22	8M	+0.1%	+0.7%
Q4 22	8M	+0.1%	+0.2%
Q1 23	8M	+0.3%	-0.0%
Q2 23	8M	-0.3%	+0.2%
Q3 23	8M	+0.0%	+0.1%
Q4 23	8M	+0.1%	+0.1%
Q1 24	8M	+0.8%	+0.6%
Q2 24	8M	-0.0%	+0.9%
Q3 24	8M	-0.6%	+0.2%
Q4 24	8M	+0.3%	+0.5%
Q1 25	8M	-0.1%	-0.4%
Q2 25	8M	+0.3%	-0.1%
Q3 25	8M	-0.7%	-0.1%
Q4 25	8M	+0.5%	+0.1%
Q1 26	8M	+2.1%	+2.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$124.1K	241
Q3 22	$139.5K	241
Q4 22	$124.0K	293
Q1 23	$137.8K	293
Q2 23	$155.0K	293
Q3 23	$171.3K	293
Q4 23	$173.9K	296
Q1 24	$172.4K	296
Q2 24	$182.7K	296
Q3 24	$183.6K	296
Q4 24	$181.4K	297
Q1 25	$177.6K	297
Q2 25	$187.4K	297
Q3 25	$197.3K	297
Q4 25	$182.9K	315
Q1 26	$107.3K	315

Revenue / Employee