XML 59 R47.htm IDEA: XBRL DOCUMENT
v3.22.4

Parent Company Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
Schedule of condensed financial information of Southern First Bancshares, Inc. (parent company only) |
|  | December 31, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 13,882 |  |  |  | 12,379 |
Investment in subsidiaries |  |  | 317,102 |  |  |  | 301,880 |
Other assets |  |  | 21 |  |  |  | 21 |
Total assets |  | $ | 331,005 |  |  |  | 314,280 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 279 |  |  |  | 274 |
Subordinated debentures |  |  | 36,214 |  |  |  | 36,105 |
Shareholders’ equity |  |  | 294,512 |  |  |  | 277,901 |
Total liabilities and shareholders’ equity |  | $ | 331,005 |  |  |  | 314,280 |
|  | For the years ended December 31, |
(dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Revenues |  |  |  |  |  |  |  |  |
Interest income |  | $ | 20 |  |  |  | 17 |  |  |  | 17 |
Total revenue |  |  | 20 |  |  |  | 17 |  |  |  | 17 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 1,730 |  |  |  | 1,523 |  |  |  | 1,708 |
Other expenses |  |  | 240 |  |  |  | 285 |  |  |  | 283 |
Total expenses |  |  | 1,970 |  |  |  | 1,808 |  |  |  | 1,991 |
Income tax benefit |  |  | 409 |  |  |  | 376 |  |  |  | 415 |
Loss before equity in undistributed net income of subsidiaries |  |  | (1,541 | ) |  |  | (1,415 | ) |  |  | (1,559 | )
Equity in undistributed net income of subsidiaries |  |  | 30,656 |  |  |  | 48,126 |  |  |  | 19,887 |
Net income |  | $ | 29,115 |  |  |  | 46,711 |  |  |  | 18,328 |
|  | For the years ended December 31, |
(dollars in thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 29,115 |  |  |  | 46,711 |  |  |  | 18,328 |
Adjustments to reconcile net income to cash provided by (used for) operating activities |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiaries |  |  | (30,656 | ) |  |  | (48,126 | ) |  |  | (19,887 | )
Compensation expense related to stock options and restricted stock grants |  |  | 2,026 |  |  |  | 1,647 |  |  |  | 1,397 |
(Increase) decrease in other assets |  |  | - |  |  |  | 8 |  |  |  | (23 | )
Increase (decrease) in accounts payable and accrued expenses |  |  | 113 |  |  |  | 108 |  |  |  | 63 |
Net cash provided by (used for) operating activities |  |  | 598 |  |  |  | 348 |  |  |  | (122 | )
Investing activities |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries, net |  |  | - |  |  |  | - |  |  |  | - |
Net cash used for investing activities |  |  | - |  |  |  | - |  |  |  | - |
Financing activities |  |  |  |  |  |  |  |  |  |  |  |
Issuance of common stock |  |  | - |  |  |  | - |  |  |  | - |
Proceeds from the exercise of stock options and warrants |  |  | 905 |  |  |  | 3,012 |  |  |  | 1,388 |
Net cash provided by financing activities |  |  | 905 |  |  |  | 3,012 |  |  |  | 1,388 |
Net increase in cash and cash equivalents |  |  | 1,503 |  |  |  | 3,360 |  |  |  | 1,266 |
Cash and cash equivalents, beginning of year |  |  | 12,379 |  |  |  | 9,019 |  |  |  | 7,753 |
Cash and cash equivalents, end of year |  | $ | 13,882 |  |  |  | 12,379 |  |  |  | 9,019 |

X
- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References No definition available. + Details
Name: | sfst_ScheduleOfCondensedFinancialStatementTableTextBlock
Namespace Prefix: | sfst_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration