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Southern First Bancshares (SFST) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Southern First Bancshares (SFST) Q3 2026 earnings results →
Q3 2026 Revenue up 21% year over year to $37.5M · 33¢ of every $1 of revenue kept as net profit · operating margin 42.2%
Southern First Bancshares made $37.5M in Q3 2026 (+21% Y/Y): Net interest income $34.7M, Noninterest income $2.9M. Operating margin 42.2%, net earnings $12.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $37.5M in Q3 2026, up 21% year over year and up 5% from the previous quarter. Net interest income was the largest line at 92% of revenue. Net interest income added $7.1M year over year (up 26%), 111% of the total change. Noninterest income declined 20%.
Operating profit was $15.8M, a 42.2% margin (up 5.8 points year over year). Of the extra revenue versus Q3 2025, 70% reached operating profit, above the 36% margin then. Total costs grew 10% against revenue growth of 21%. The fastest-growing cost line was Credit loss provision (+65%). Net earnings were $12.2M, up 41% year over year. The effective tax rate was 22.7%.
Operating cash flow was $21.3M (up 47% year over year), 175% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $638K of share-based compensation. Working capital and other items added $7.5M. Capital expenditures of $934K left free cash flow of $20.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $37.5M | +21% | 42.2% | $12.2M | $21.3M |
| Q2 2026 | 10-Q | Aug 3, 2026 | $35.9M | +25% | 40.3% | $11.2M | $18.0M |
| Q1 2026 | 10-Q | May 1, 2026 | $33.8M | +28% | 36.9% | $9.9M | $10.8M |
| Q4 2025 | 10-K | Feb 24, 2026 | $31.8M | +26% | 40.1% | $9.9M | −$2.1M |
| Q3 2025 | 10-Q | Oct 31, 2025 | $31.1M | +31% | 36.4% | $8.7M | $14.5M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $28.6M | +24% | 30.0% | $6.6M | $10.5M |
| Q1 2025 | 10-Q | May 5, 2025 | $26.5M | +24% | 26.1% | $5.3M | $7.6M |
Charts
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About Southern First Bancshares
Southern First Bancshares, Inc. (the “Company”) was incorporated in March 1999 under the laws of South Carolina and is a bank holding company registered under the Bank Holding Company Act of 1956 (the “BHCA”). Our primary business is to serve as the holding company for Southern First Bank (the “Bank”), a South Carolina state bank. The Bank is a commercial bank with eight retail offices located in the Greenville, Columbia, and Charleston markets of South Carolina, three retail offices in the Raleigh, Greensboro, and Charlotte markets of North Carolina and one retail office in Atlanta, Georgia. In addition, we opened our Dream Mortgage Center, a loan production office, located in Columbia, South Carolina during 2023 and expect to open a retail office in Cary, North Carolina in late 2026.
In its own words, from its 10-K, filed Feb 24, 2026.
Southern First Bancshares against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +21% against the peers' median +8%. Operating margin: 42.2% against the peers' median 32.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SFST Southern First Bancshares | Q3 2026 | $37.5M | +21% | 42.2% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: Southern First Bancshares 10-Q on SEC EDGAR · CIK 1090009 · National Commercial Banks
Guidance and outlook
13F: who owns SFST and who is buying
More on SFST
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results