XML 32 R21.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of carrying value of hedged asset and liability and cumulative fair value hedging adjustment

Schedule of carrying value of hedged asset and liability and cumulative fair value hedging adjustment
	March 31, 2024						December 31, 2023
(dollars in thousands)		Carrying Amount			Hedged Asset			Carrying Amount			Hedged Liability
Fixed Rate Asset/Liability1	$	203,206		$	3,206		$	199,518		$	482

¹ These amounts included the amortized cost basis of closed portfolios of fixed rate loans used to designate hedging relationships in which the hedged item is the stated amount of the assets in the closed portfolio anticipated to be outstanding for the designated hedged period. As of March 31, 2024, the amortized cost basis of the closed portfolio used in this hedging relationship was $706.9 million, the cumulative basis adjustment associated with this hedging relationship was $3.2 million, and the amount of the designated hedged item was $200.0 million.

Schedule of outstanding financial derivative instruments

Schedule of outstanding financial derivative instruments
						March 31, 2024
						Fair Value
(dollars in thousands)	Notional			Balance Sheet Location		Asset/(Liability)
Derivatives designated as hedging instruments:
Fair value swap Fair value swap [Member]	$	200,000		Other assets		$	3,206
Derivatives not designated as hedging instruments:
Mortgage loan interest rate lock commitments Mortgage loan interest rate lock commitments [Member]		28,986		Other assets			316
MBS forward sales commitments MBS forward sales commitments [Member]		19,500		Other liabilities			(59	)
Total derivative financial instruments Total derivative financial instruments [Member]	$	248,486				$	3,463
							December 31, 2023
							Fair Value
(dollars in thousands)		Notional		Balance Sheet Location			Asset/(Liability)
Derivatives designated as hedging instruments:
Fair value swap	$	200,000		Other liabilities		$	(482	)
Derivatives not designated as hedging instruments:
Mortgage loan interest rate lock commitments		12,973		Other assets			159
MBS forward sales commitments		10,000		Other liabilities			(68	)
Total derivative financial instruments	$	222,973				$	(391	)

Schedule of summarize the effect of fair value hedging relationship recognized in consolidated statement of income

Schedule of summarize the effect of fair value hedging relationship recognized in consolidated statement of income
	Three months ended March 31,
(dollars in thousands)		2024			2023
Gain (loss) on fair value hedging relationship:
Hedged asset	$	3,688			-
Fair value derivative designated as hedging instrument		(3,738	)		-
Total gain (loss) recognized in interest income on loans	$	(50	)		-

X

- References

No definition available.

+ Details

Name:	SFST_ScheduleOfHedgedAssetFairValueHedgeLastOfLayerCumulativeTableTextBlock
Namespace Prefix:	SFST_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

+ Details

Name:	us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration