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Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Parent Company Financial Information [Abstract]

Schedule of condensed financial information of Southern First Bancshares, Inc. (parent company only)

Condensed Balance Sheets


		December 31,
(dollars in thousands)		2018			2017
Assets
Cash and cash equivalents		$	5,389		3,623
Investment in subsidiaries			181,919		159,440
Other assets			19		32
Total assets		$	187,327		163,095
Liabilities and Shareholders’ Equity
Accounts payable and accrued expenses		$	8		6
Junior subordinated debentures			13,403		13,403
Shareholders’ equity			173,916		149,686
Total liabilities and shareholders’ equity		$	187,327		163,095

Condensed Statements of Income


		For the years ended December 31,
(dollars in thousands)		2018				2017			2016
Revenues
Interest income		$	9			11			2
Total revenue			9			11			2
Expenses
Interest expense			592			514			402
Other expenses			240			246			243
Total expenses			832			760			645
Income tax benefit			173			262			172
Loss before equity in undistributed net income of subsidiaries			(650	)		(487	)		(471	)
Equity in undistributed net income of subsidiaries			22,939			13,532			13,507
Net income		$	22,289			13,045			13,036

Condensed Statements of Cash Flows


		For the years ended December 31,
(dollars in thousands)		2018				2017			2016
Operating activities
Net income		$	22,289			13,045			13,036
Adjustments to reconcile net income to cash provided by (used for) operating activities
Equity in undistributed net income of subsidiaries			(22,939	)		(13,532	)		(13,507	)
Compensation expense related to stock options and restricted stock grants			1,502			1,258			1,998
(Increase) decrease in other assets			12			2,772			(449	)
Increase (decrease) in accounts payable and accrued expenses			2			2			(1	)
Net cash provided by operating activities			866			3,545			1,077
Investing activities
Investment in subsidiaries, net			-			(27,334	)		(668	)
Net cash used for investing activities			-			(27,334	)		(668	)
Financing activities
Issuance of common stock			-			24,758			-
Proceeds from the exercise of stock options and warrants			900			705			1,098
Net cash provided by financing activities			900			25,463			1,098
Net increase (decrease) in cash and cash equivalents			1,766			1,674			1,507
Cash and cash equivalents, beginning of year			3,623			1,949			442
Cash and cash equivalents, end of year		$	5,389			3,623			1,949