Southern First Bancshares Inc
BRIEF: For the fiscal year ended 31 December 2012, Southern First Bancshares, Inc. interest income decreased 1% to $34.7M. Net interest income after loan loss provision increased 19% to $21.4M. Net income applicable to common stockholders increased from $944K to $2.8M. Net interest income after loan loss provision reflects increase in interest earning assets and decrease in interest bearing liabilities.
Common Stock $.01 Par, 02/12, 10M auth., 3,841,812 issd. and O/S. Insiders control 24.88%. Initial Public Offering: 10/26/1999, 1,100,000 shares @ $10.00 by Wachovia Securities, Inc. 11/03, 3-for-2 stock split. 07/07, 01//11, 10% Stock dividend. 02/12, 10% Stock dividend. 13/01, 10% Stock dividend.
Southern First Bancshares, Inc., is the holding company for Southern First Bank, N.A. (the Bank). The Bank is primarily engaged in the business of accepting demand deposits and savings deposits insured by the Federal Deposit Insurance Corporation (the FDIC), and providing commercial, consumer and mortgage loans to the general public. The Trusts are special purpose subsidiaries organized for the sole purpose of issuing trust preferred securities. The Company's primary markets include Greenville County, South Carolina and the Columbia market, which includes Richland and Lexington Counties. The Bank offers other bank services including safe deposit boxes, traveler's checks, direct deposit, United States Savings Bonds, and banking by mail. It earns fees for most of these services, including debit and credit card transactions, sales of checks, and wire transfers. It also receives automated teller machine (ATM) transaction fees from transactions performed by its clients.