Southern First Q1 net income surges 87% on margin expansion; $65M capital raise follows

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 5, 2025 · ~1 min read

Key Changes

• high

  Net income jumped 87% to $9.9M (EPS $1.19 vs $0.65 prior year) as net interest margin expanded 47 basis points to 2.88%, driven by higher loan yields and lower deposit costs.

  MD&A: Net Income and Margin verify on EDGAR →
• high

  Loan portfolio grew $97M (10.2% annualized) vs $52M prior year, led by commercial business and owner-occupied real estate, signaling stronger commercial lending momentum.

  MD&A: Loan Growth verify on EDGAR →
• high

  Company raised $65M in April 2026 equity offering at $54/share for organic growth, capital support, and potential subordinated debt redemption.

  MD&A: Capital Raise verify on EDGAR →