SOUTHERN FIRST BANCSHARES INC SFST Income Statement

Southern first bancshares inc (SFST)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income
Loans
88,929	73,718	58,808	49,315	44,316	38,092	34,242	32,668	32,892	32,587	31,722
Investment securities
2,101	1,801	1,617	1,711	1,577	1,784	1,813	1,963	2,144	2,883	4,424
Federal funds sold and interest-bearing deposits with banks
1,622	1,138	784	165	137	72	63	67	106	59	31
Total interest income
92,652	76,657	61,209	51,191	46,030	39,948	36,118	34,698	35,142	35,529	36,177
Interest expense
Deposits
23,730	14,836	7,373	3,941	3,585	2,820	2,862	4,177	6,993	9,424	9,996
Borrowings
1,653	1,669	2,960	4,251	3,916	4,088	4,235	4,525	4,861	5,893	6,899
Total interest expense
25,383	16,505	10,333	8,192	7,501	6,908	7,097	8,702	11,854	15,317	16,895
Net interest income
67,269	60,152	50,876	42,999	38,529	33,040	29,021	25,996	23,288	20,212	19,282
Provision for loan losses
2,300	1,900	2,000	2,300	3,200	4,175	3,475	4,550	5,270	5,610	4,310
Net interest income after provision for loan losses
64,969	58,252	48,876	40,699	35,329	28,865	25,546	21,446	18,018	14,602	14,972
Noninterest income
Mortgage banking income
9,923	5,544	5,152	6,837	-	-	-	-	-	-	-
Service fees on deposit accounts
1,061	1,040	1,168	1,002	-	-	-	-	-	-	-
ATM and debit card income
1,728	1,490	1,172	892	-	-	-	-	-	-	-
Service fees on deposit accounts
1,061	1,040	1,168	1,002	-	-	-	-	-	-	-
Mortgage banking income
-	-	-	-	4,963	2,699	1,235	1,044	877	711	431
Service fees on deposit accounts
-	-	-	-	893	923	879	767	638	583	732
Income from bank owned life insurance
1,001	878	811	736	685	667	658	632	565	554	605
Gain on sale of investment securities, net
727	7	4	431	297	230	-	-	-	-	-
Loss on extinguishment of debt
-1,496	-	-	-	-	-	-	-	-	-	-
Gain on sale of investment securities
-	-	-	-	-	-	-	363	23	1,156	41
Other than temporary impairment on investment securities
-	-	-	-	-	-	-	-	25	450	-
Other income
2,039	1,242	1,030	948	1,578	1,261	1,030	956	692	491	376
Total noninterest income
14,983	10,201	9,337	10,846	8,416	5,780	3,802	3,762	2,770	3,045	2,185
Noninterest expenses
Compensation and benefits
29,025	25,561	21,791	18,969	17,048	14,043	12,302	10,073	8,933	8,245	7,840
Occupancy
5,527	5,049	4,121	3,582	3,310	2,978	3,056	2,468	2,282	2,135	1,938
Other real estate owned expenses
-	-	-	-	1,142	647	179	-	-	-	-
Real estate owned expenses
-	-	-	-	-	-	-	939	940	674	342
Outside service and data processing costs
4,187	3,302	3,158	2,654	2,447	2,514	2,406	2,070	1,869	1,624	1,451
Insurance
813	1,284	1,146	962	855	832	818	1,367	1,437	1,533	-
Professional fees
1,699	1,574	1,362	1,208	987	952	858	841	658	659	650
Insurance
-	-	-	-	-	-	-	-	-	-	1,433
Marketing
941	856	737	807	870	774	731	637	686	690	659
Other
2,281	2,137	2,237	2,994	1,550	2,167	1,462	1,118	1,062	1,004	1,080
Total noninterest expenses
44,473	39,763	34,552	31,176	28,209	24,907	21,812	19,513	17,867	16,564	15,393
Income before income tax expense
35,479	28,690	23,661	20,369	15,536	9,738	7,536	5,695	2,921	1,083	1,764
Income tax expense
7,621	6,401	10,616	7,333	5,369	3,113	2,416	1,833	833	193	345
Net income available to common shareholders
27,858	22,289	13,045	13,036	10,167	6,625	5,120	3,862	2,088	890	1,419
Preferred stock dividend
-	-	-	-	-	915	771	840	865	865	730
Discount accretion
-	-	-	-	-	-	-	360	279	260	200
Gain on redemption of preferred stock
-	-	-	-	-	-	-20	-96	0	0	-
Net income available to common shareholders
-	-	-	-	-	5,710	4,369	2,758	944	-235	489
Earnings per common share
Basic
3.70	3.02	1.86	2.06	1.64	1.15	1.02	0.65	0.22	-0.06	0.07
Diluted
3.58	2.88	1.76	1.94	1.55	1.10	0.98	0.64	0.22	-0.06	0.07
Weighted average common shares outstanding
Basic
7,528	7,384	7,005	6,318	6,204	4,980	4,279	4,229	4,200	4,178	3,696,438
Diluted
7,772	7,737	7,393	6,720	6,560	5,199	4,458	4,339	4,286	4,178	3,727,750