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Southern First Bancshares Reports Net Income of $2.7 Million for Q1 2023
Q1 2023 Revenue for Southern First Bancshares Stands at $38.3 Million
Southern First Bancshares, Inc.(SFST), and its subsidiary have released thei r unaudited consolidated financial statements for the first quarter of 2023. The financial data reveals the company's net income and revenue during the mentioned period.
Net Income
During the first quarter of 2023, Southern First Bancshares reported a net income of $2.7 million. This figure represents the company's bottom line after accounting for all expenses, including interest, provisions for credit losses, and taxes.
Revenue
The company's revenue for the first quarter of 2023 amounted to $38.3 million. This revenue includes interest income generated from loans, investment securities, federal funds sold, and interest-bearing deposits with banks.
Southern First Bancshares attributed its revenue growth to increased interest income from loans and investment securities, as well as favorable market conditions during the period. With this financial data as a foundation, Southern First Bancshares aims to continue its strategic initiatives and further strengthen its position in the financial industry. The company remains focused on delivering value to its shareholders while maintaining excellent customer service and driving sustainable growth.
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