SFST Q1 net income nearly doubles to $9.9M; margin expands 47bp; equity raise closed

Filed May 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 5, 2025 · ~2 min read

Key Changes

• high

  Net income to common shareholders rose 87.8% to $9.9M ($1.19 diluted EPS) from $5.3M ($0.65 EPS) in Q1 2025, driven by a 29.4% increase in net interest income to $30.3M and a 47-basis-point expansion in net interest margin to 2.88%.

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

  Loan portfolio grew $97.1M (10.2% annualized) in Q1 2026 vs $52.2M (1.44%) in Q1 2025, with 2026 growth concentrated in commercial business loans ($58.1M) and commercial owner-occupied loans ($22.6M) rather than consumer real estate.

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

  Company closed a $65.2M equity offering on April 17, 2026 (1.2M shares at $54/share), earmarked for organic growth, capital support to the Bank, potential subordinated debt redemption, and working capital.

  MD&A & Notes: Subsequent Event verify on EDGAR →