The latest update is out from Southern First Bancshares ( (SFST) ).
Southern First Bancshares, Inc. reported strong financial results for Q3 2024, with net income of $4.4 million and significant growth in core checking accounts by 21% annualized. Despite challenges in loan growth, the company achieved a net interest margin of 2.08%, reflecting effective cost management. CEO Art Seaver emphasized the focus on high-quality assets and the anticipation of increased profitability amid economic uncertainties. The bank’s commitment to relationship banking continues to build robust business pipelines, positioning it well for future opportunities.
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