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1. Company Snapshot

1.a. Company Description

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 segments: Commercial and Retail Banking, Mortgage Banking, and Corporate Operations.


The company accepts various deposit products that include checking accounts, commercial checking accounts, and savings accounts, as well as other time deposits, including daily money market accounts and long-term certificates of deposit.Its loan portfolio comprises commercial real estate loans; construction real estate loans; commercial business loans for various lines of businesses, such as the manufacturing, service industry, and professional service areas; consumer real estate and home equity loans; and other consumer loans, including secured and unsecured installment loans and revolving lines of credit.In addition, the company provides other bank services, such as internet banking, cash management, safe deposit boxes, direct deposit, automatic drafts, bill payment, and mobile banking services.


It operates through eight retail offices located in Greenville, Charleston, and Columbia; three retail offices located in Raleigh, Greensboro, and Charlotte markets; and one retail office located in Atlanta.The company was incorporated in 1999 and is headquartered in Greenville, South Carolina.

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1.b. Last Insights on SFST

Southern First Bancshares, Inc.'s recent performance was driven by strong Q3 2025 earnings, which surpassed estimates with $1.07 per share, significantly higher than the $0.54 per share reported a year ago. The company's revenue growth and improving asset quality have garnered attention. Operating in high-growth Southeastern markets, Southern First Bancshares exhibits robust deposit and loan growth. A favorable geographic footprint and potential for margin expansion further bolster growth prospects. The company has been rated Buy, citing takeover potential.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Southern First Bancshares, Inc. (SFST) Hit a 52 Week High, Can the Run Continue?

Nov -10

Source: zacks.com

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Compared to Estimates, Southern First (SFST) Q3 Earnings: A Look at Key Metrics

Oct -28

Source: zacks.com

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Southern First (SFST) Q3 Earnings and Revenues Top Estimates

Oct -28

Source: zacks.com

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Southern First Reports Third Quarter 2025 Results

Oct -28

Source: prnewswire.com

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Southern First Bancshares (SFST) Projected to Post Quarterly Earnings on Tuesday

Oct -26

Source: defenseworld.net

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Southern First Bancshares Gears Up For Strong Finish To 2025

Oct -13

Source: seekingalpha.com

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Best Momentum Stock to Buy for July 24th

Jul -24

Source:

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New Strong Buy Stocks for July 24th

Jul -24

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.00%)

6. Segments

Banking and Financial Services

Expected Growth: 4.0%

Southern First Bancshares, Inc.'s 4.0% growth in Banking and Financial Services is driven by strategic acquisitions, expansion into new markets, and a focus on commercial lending. Additionally, the company's emphasis on digital transformation, cost savings initiatives, and a strong capital position have contributed to its growth momentum.

7. Detailed Products

Commercial Loans

Southern First Bancshares, Inc. offers a range of commercial loans to businesses, including term loans, lines of credit, and construction loans, to support their growth and operations.

Mortgage Loans

The company provides mortgage loans to individuals and families to purchase or refinance their homes, including conventional, FHA, VA, and USDA loans.

Consumer Loans

Southern First Bancshares, Inc. offers consumer loans for personal expenses, debt consolidation, and other financial needs, including personal loans, credit cards, and home equity loans.

Deposit Services

The company provides a range of deposit services, including checking and savings accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs).

Treasury Management Services

Southern First Bancshares, Inc. offers treasury management services to businesses, including cash management, wire transfers, and account reconciliation.

Wealth Management Services

The company provides wealth management services, including investment advice, portfolio management, and retirement planning, to individuals and businesses.

8. Southern First Bancshares, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Southern First Bancshares, Inc. is medium due to the presence of alternative financial institutions and online banking services.

Bargaining Power Of Customers

The bargaining power of customers for Southern First Bancshares, Inc. is low due to the lack of concentration of buyers and the presence of multiple banking options.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Southern First Bancshares, Inc. is medium due to the presence of multiple suppliers of financial services and technology.

Threat Of New Entrants

The threat of new entrants for Southern First Bancshares, Inc. is low due to the high barriers to entry in the banking industry, including regulatory requirements and capital requirements.

Intensity Of Rivalry

The intensity of rivalry for Southern First Bancshares, Inc. is high due to the presence of multiple competitors in the banking industry, including large national banks and regional banks.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 50.08%
Debt Cost 8.03%
Equity Weight 49.92%
Equity Cost 8.03%
WACC 8.03%
Leverage 100.31%

11. Quality Control: Southern First Bancshares, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Shore Bancshares

A-Score: 6.6/10

Value: 7.4

Growth: 6.2

Quality: 6.3

Yield: 5.0

Momentum: 7.0

Volatility: 7.7

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First Seacoast Bank

A-Score: 5.6/10

Value: 8.6

Growth: 2.0

Quality: 4.5

Yield: 0.0

Momentum: 9.0

Volatility: 9.7

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Southern First

A-Score: 5.1/10

Value: 5.7

Growth: 5.2

Quality: 5.2

Yield: 0.0

Momentum: 8.0

Volatility: 6.3

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ECB Bancorp

A-Score: 4.9/10

Value: 4.0

Growth: 7.0

Quality: 3.2

Yield: 0.0

Momentum: 6.5

Volatility: 9.0

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Generations Bancorp NY

A-Score: 4.8/10

Value: 7.0

Growth: 2.3

Quality: 3.8

Yield: 0.0

Momentum: 8.0

Volatility: 8.0

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Blue Foundry Bank

A-Score: 4.7/10

Value: 8.8

Growth: 5.1

Quality: 4.6

Yield: 0.0

Momentum: 2.5

Volatility: 7.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

52.18$

Current Price

52.18$

Potential

-0.00%

Expected Cash-Flows