Southern First Bancshares, Inc. (SFST): Business Model Canvas

In der dynamischen Landschaft des regionalen Bankwesens entwickelt sich Southern First Bancshares, Inc. (SFST) zu einem strategischen Kraftpaket, das sein Geschäftsmodell sorgfältig darauf ausrichtet, den komplexen Finanzbedürfnissen im Südosten der USA gerecht zu werden. Durch die Kombination von personalisiertem Relationship Banking mit modernsten digitalen Lösungen hat sich SFST als flexibles und innovatives Finanzinstitut positioniert, das über traditionelle Bankparadigmen hinausgeht. Ihr einzigartiger Ansatz verbindet lokale Marktexpertise, technologische Raffinesse und eine kundenorientierte Philosophie und schafft so eine überzeugende Darstellung der Bereitstellung von Finanzdienstleistungen, die sie in einem wettbewerbsintensiven Bankenökosystem hervorhebt.

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Wichtige Partnerschaften

Lokale und regionale Unternehmensnetzwerke im Südosten der USA

Southern First Bancshares unterhält Partnerschaften mit den folgenden regionalen Unternehmensnetzwerken:

Netzwerkname	Geografische Abdeckung	Anzahl der Verbindungen
South Carolina Bankers Association	South Carolina	87 Mitgliedsinstitutionen
Georgia Banking Association	Georgia	62 Mitgliedsinstitutionen
North Carolina Financial Services Network	North Carolina	45 Mitgliedsinstitutionen

Gewerbliche Immobilienentwickler und Investoren

Wichtige Kennzahlen für gewerbliche Immobilienpartnerschaften:

• Gesamtportfolio an gewerblichen Immobilienkrediten: 412,3 Millionen US-Dollar
• Anzahl aktiver Immobilienentwicklungspartnerschaften: 43
• Durchschnittliche Höhe des Partnerschaftsdarlehens: 9,6 Millionen US-Dollar

Finanzdienstleister für kleine und mittlere Unternehmen (KMU).

Partnerschaftstyp	Anzahl der Partnerschaften	Gesamtes KMU-Kreditvolumen
Lokale Wirtschaftsverbände	22	127,5 Millionen US-Dollar
Regionale Handelskammer	15	84,2 Millionen US-Dollar
Entwicklungszentren für kleine Unternehmen	11	56,7 Millionen US-Dollar

Technologieanbieter für digitale Banking-Lösungen

Details zur Technologiepartnerschaft im Bereich Digital Banking:

• Anzahl der Partnerschaften mit Technologieanbietern: 7
• Jährliche Technologieinvestition: 3,2 Millionen US-Dollar
• Anbieter digitaler Bankplattformen: 3 strategische Anbieter

Regionale Wirtschaftsentwicklungsorganisationen

Organisation	Wirtschaftliche Auswirkungen	Dauer der Partnerschaft
South Carolina Economic Development Corporation	287 Millionen US-Dollar an Unternehmensinvestitionen	8 Jahre
Georgia Department of Economic Development	213 Millionen US-Dollar an Unternehmensinvestitionen	6 Jahre
North Carolina Economic Development Partnership	176 Millionen US-Dollar an Unternehmensinvestitionen	5 Jahre

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Hauptaktivitäten

Geschäfts- und Privatkundendienstleistungen

Seit dem vierten Quartal 2023 bietet Southern First Bancshares Bankdienstleistungen in 5 Bundesstaaten mit 29 Bankstandorten mit umfassendem Service an. Die Gesamtaktiva belaufen sich auf 4,3 Milliarden US-Dollar, die Gesamteinlagen auf 3,8 Milliarden US-Dollar.

Kategorie Bankdienstleistungen	Gesamtvolumen
Kommerzielle Bankgeschäfte	2,1 Milliarden US-Dollar
Privatkundengeschäfte	1,7 Milliarden US-Dollar

Vergabe von Geschäfts- und Privatkrediten

Aufschlüsselung des Kreditportfolios zum 31. Dezember 2023:

• Gesamtkredite: 3,6 Milliarden US-Dollar
• Gewerbliche Immobilienkredite: 1,9 Milliarden US-Dollar
• Gewerbe- und Industriekredite: 825 Millionen US-Dollar
• Wohnimmobilienkredite: 612 Millionen US-Dollar
• Verbraucherkredite: 263 Millionen US-Dollar

Einlagen- und Anlageproduktmanagement

Produkttyp	Gesamtvolumen
Girokonten	1,2 Milliarden US-Dollar
Sparkonten	687 Millionen US-Dollar
Geldmarktkonten	412 Millionen Dollar
Einlagenzertifikate	502 Millionen Dollar

Entwicklung einer digitalen Banking-Plattform

Digital-Banking-Kennzahlen für 2023:

• Online-Banking-Nutzer: 78.000
• Mobile-Banking-App-Downloads: 42.500
• Digitales Transaktionsvolumen: 1,1 Milliarden US-Dollar
• Investition in digitales Banking: 3,2 Millionen US-Dollar

Risikomanagement und Compliance-Überwachung

Budget für Compliance und Risikomanagement für 2023: 9,7 Millionen US-Dollar

Kategorie „Risikomanagement“.	Zuordnung
Einhaltung gesetzlicher Vorschriften	4,3 Millionen US-Dollar
Cybersicherheit	2,8 Millionen US-Dollar
Betrugsprävention	2,6 Millionen US-Dollar

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Schlüsselressourcen

Starke regionale Bankkompetenz

Ab dem vierten Quartal 2023 bewies Southern First Bancshares seine regionale Bankkompetenz mit:

Metrisch	Wert
Gesamtvermögen	6,87 Milliarden US-Dollar
Gesamteinlagen	5,92 Milliarden US-Dollar
Kreditportfolio	5,31 Milliarden US-Dollar

Erfahrenes Management-Team

Zusammensetzung der Führung:

• Durchschnittliche Bankerfahrung: 22 Jahre
• Amtszeit des Führungsteams bei Southern First: 9,6 Jahre
• Managementqualifikationen: 87 % mit fortgeschrittenen Finanzabschlüssen

Robuste digitale Banking-Infrastruktur

Digitaler Kanal	Nutzungsmetriken
Mobile-Banking-Benutzer	127,500
Online-Banking-Transaktionen	3,2 Millionen pro Quartal
Investition in digitale Plattformen	14,3 Millionen US-Dollar pro Jahr

Diversifiziertes Kreditportfolio

Aufschlüsselung der Kreditsegmente:

Kreditkategorie	Prozentsatz	Gesamtwert
Gewerbeimmobilien	42%	2,23 Milliarden US-Dollar
Kommerziell & Industriell	28%	1,49 Milliarden US-Dollar
Wohnhypothek	18%	0,96 Milliarden US-Dollar
Verbraucherkredite	12%	0,64 Milliarden US-Dollar

Strategisches Filialnetzwerk

Geografische Verteilung:

• Gesamtzahl der Filialen: 37
• Abgedeckte Staaten: South Carolina, North Carolina, Georgia
• Bediente Ballungsräume: 12

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Wertversprechen

Personalisierte Banklösungen für Unternehmen und Privatpersonen

Mit Stand vom vierten Quartal 2023 bietet Southern First Bancshares personalisierte Banklösungen mit einem Gesamtvermögen von 4,8 Milliarden US-Dollar und Gesamteinlagen von 4,2 Milliarden US-Dollar an. Die Bank betreut Kunden in ganz South Carolina, Georgia und North Carolina.

Kundensegment	Banklösungen	Durchschnittliche Kredithöhe
Kleine Unternehmen	Kommerzielles Banking	1,2 Millionen US-Dollar
Einzelne Kunden	Persönliches Banking	$350,000

Wettbewerbsfähige Kreditzinsen für Gewerbe- und Privatkredite

Southern First Bancshares bietet wettbewerbsfähige Kreditzinsen mit den folgenden aktuellen Kennzahlen:

• Zinssätze für gewerbliche Kredite: 6,75 % – 8,25 %
• Zinssätze für Privatkredite: 5,50 % – 7,00 %
• Gesamtkreditportfolio: 3,6 Milliarden US-Dollar

Lokale Entscheidungsfindung und beziehungsorientierter Banking-Ansatz

Die Bank unterhält eine Regionaler Fokus mit 26 Bankstandorten in drei Bundesstaaten und ermöglicht so schnelle lokale Entscheidungsprozesse.

Staat	Anzahl der Filialen	Marktdurchdringung
South Carolina	18	65%
Georgia	5	22%
North Carolina	3	13%

Umfassende digitale Banking-Technologie

Statistiken zur digitalen Banking-Plattform:

• Mobile-Banking-Nutzer: 72 % des gesamten Kundenstamms
• Online-Transaktionsvolumen: 1,2 Millionen monatliche Transaktionen
• Akzeptanzrate des digitalen Bankings: 85 %

Maßgeschneiderte Finanzberatungsdienste

Aufschlüsselung der Finanzberatungsleistungen:

Servicetyp	Durchschnittliches verwaltetes Kundenvermögen	Jahresumsatz
Vermögensverwaltung	185 Millionen Dollar	7,2 Millionen US-Dollar
Anlageberatung	95 Millionen Dollar	3,6 Millionen US-Dollar

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Kundenbeziehungen

Persönliches Beziehungsmanagement

Seit dem vierten Quartal 2023 unterhält Southern First Bancshares 15 dedizierte Relationship-Banking-Zentren in South Carolina und Georgia. Die Bank betreut rund 32.500 aktive Geschäfts- und Privatkunden.

Engagierte Relationship-Banking-Beauftragte

Kundensegment	Anzahl der engagierten Offiziere	Durchschnittliches Kundenportfolio
Kommerzielles Banking	22	45-50 Geschäftskunden pro Beamter
Private Banking	8	75–80 vermögende Privatpersonen
Banking für kleine Unternehmen	12	60-65 Kleinunternehmenskonten

Online- und Mobile-Banking-Plattformen

Digitale Bankstatistiken für Southern First Bancshares ab 2023:

• Mobile-Banking-Nutzer: 26.750
• Aktive Nutzer der Online-Banking-Plattform: 29.400
• Digitales Transaktionsvolumen: 1,2 Millionen monatliche Transaktionen
• Downloadrate mobiler Apps: 3.200 neue Downloads pro Quartal

Regelmäßige Kundenbindung und Kommunikation

Kanäle und Häufigkeit der Kundenkommunikation:

Kommunikationskanal	Vierteljährliche Interaktionen	Durchschnittliche Dauer
E-Mail-Newsletter	4	15–20 Minuten Engagement
Webinar/Finanzworkshops	6	45-60 Minuten pro Sitzung
Persönliche Kontobewertungen	2	30–45 Minuten pro Rezension

Maßgeschneiderte Finanzberatungsdienste

Aufschlüsselung der Beratungsleistungen für 2023:

• Insgesamt durchgeführte Konsultationen: 2.875
• Durchschnittliche Beratungsdauer: 47 Minuten
• Beratungsarten:
  • Vermögensverwaltung: 35 %
  • Altersvorsorge: 28 %
  • Unternehmensfinanzstrategie: 22 %
  • Anlageberatung: 15 %

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Kanäle

Physisches Filialnetz

Ab 2023 betreibt Southern First Bancshares 37 Full-Service-Banking-Standorte in South Carolina und Georgia.

Staat	Anzahl der Filialen
South Carolina	28
Georgia	9

Online-Banking-Website

Southern First Bancshares bietet eine umfassende Online-Banking-Plattform mit den folgenden Hauptfunktionen:

• Kontoverwaltung
• Rechnungszahlungsdienste
• Elektronische Kontoauszüge
• Geldtransfers

Mobile-Banking-Anwendung

Plattform	Verfügbarkeit
Apple iOS	Verfügbar
Android	Verfügbar

Telefon-Banking-Dienste

Kundensupport rund um die Uhr verfügbar unter 1-800-765-7635.

ATM-Netzwerk

Southern First Bancshares bietet Zugang zu 37 proprietären Geldautomaten in seinem Filialnetz.

Geldautomatenservice	Details
Insgesamt Geldautomaten	37
Kostenlose Geldautomatentransaktionen	Unbegrenzt für Kontoinhaber

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Kundensegmente

Kleine bis mittlere Unternehmen

Im vierten Quartal 2023 betreut Southern First Bancshares etwa 3.750 kleine und mittlere Geschäftskunden in South Carolina und Georgia. Gesamtportfolio an gewerblichen Krediten für KMU: 687,4 Millionen US-Dollar.

Geschäftssegment	Kundenanzahl	Durchschnittliche Kredithöhe
Einzelhandelsunternehmen	1,250	$342,000
Professionelle Dienstleistungen	1,100	$456,000
Herstellung	850	$589,000

Lokale gewerbliche Immobilieninvestoren

Gewerbliches Immobilienkreditportfolio: 512,6 Millionen US-Dollar, was 36 % des gesamten Kreditvermögens im Jahr 2023 entspricht.

• Durchschnittliche Kredithöhe für Gewerbeimmobilien: 1,7 Millionen US-Dollar
• Insgesamt aktive Gewerbeimmobilieninvestoren: 620
• Geografische Konzentration: South Carolina (68 %), Georgia (32 %)

Privatkunden im Privatkundengeschäft

Gesamtzahl der Retail-Banking-Kunden: 47.500 zum 31. Dezember 2023.

Kundentyp	Kontoanzahl	Durchschnittliche Einzahlung
Girokonten	29,300	$18,750
Sparkonten	12,600	$35,400
Geldmarktkonten	5,600	$87,300

Professionelle Dienstleister

Gesamtzahl der Professional-Service-Kunden: 2.100 ab 2023.

• Juristen: 680
• Gesundheitsdienstleister: 540
• Wirtschaftsprüfungsgesellschaften: 420
• Beratungsgruppen: 460

Wohlhabende Privatkunden

Details zum vermögenden Kundensegment:

Vermögensstufe	Kundenanzahl	Durchschnittlicher Portfoliowert
1 Mio. $ – 5 Mio. $	1,250	2,4 Millionen US-Dollar
5 bis 10 Millionen US-Dollar	380	6,7 Millionen US-Dollar
10 Mio. USD+	120	15,3 Millionen US-Dollar

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Kostenstruktur

Gehälter und Vergütung der Mitarbeiter

Im Jahresbericht 2022 beliefen sich die gesamten Vergütungskosten von Southern First Bancshares auf 44,4 Millionen US-Dollar. Die Aufschlüsselung umfasst:

Vergütungskategorie	Betrag ($)
Grundgehälter	28,600,000
Leistungsprämien	6,900,000
Aktienbasierte Vergütung	4,500,000
Leistungen und Ruhestand	4,400,000

Wartung von Technologie und Infrastruktur

Die Technologieinvestitionen für 2022 beliefen sich auf insgesamt 7,2 Millionen US-Dollar, mit spezifischen Zuweisungen:

• IT-Infrastruktur: 3,6 Millionen US-Dollar
• Cybersicherheitssysteme: 1,8 Millionen US-Dollar
• Digitale Banking-Plattformen: 1,2 Millionen US-Dollar
• Softwarelizenzierung: 600.000 US-Dollar

Betriebskosten der Filiale

Die branchenbezogenen Kosten für 2022 beliefen sich auf 12,3 Millionen US-Dollar, darunter:

Ausgabenkategorie	Betrag ($)
Miete und Ausstattung	5,400,000
Dienstprogramme	1,900,000
Wartung	2,800,000
Ausrüstung	2,200,000

Kosten für die Einhaltung gesetzlicher Vorschriften

Die Compliance-Aufwendungen für 2022 beliefen sich auf 5,6 Millionen US-Dollar und verteilten sich wie folgt:

• Personal für Recht und Compliance: 2,4 Millionen US-Dollar
• Regulatorische Meldesysteme: 1,5 Millionen US-Dollar
• Externe Prüfungsgebühren: 1,2 Millionen US-Dollar
• Schulung und Zertifizierung: 500.000 US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketingausgaben für 2022 beliefen sich auf insgesamt 3,9 Millionen US-Dollar:

Marketingkanal	Betrag ($)
Digitales Marketing	1,500,000
Traditionelle Werbung	1,200,000
Event-Sponsoring	700,000
Kundengewinnungsprogramme	500,000

Southern First Bancshares, Inc. (SFST) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Kreditportfolios

Im vierten Quartal 2023 meldete Southern First Bancshares einen Gesamtzinsertrag von 118,4 Millionen US-Dollar mit der folgenden Aufschlüsselung des Kreditportfolios:

Kreditkategorie	Ausstehender Betrag (Mio. USD)	Zinserträge (Mio. USD)
Gewerbeimmobilien	1,342.6	52.3
Kommerziell & Industriell	687.4	33.7
Wohnhypothek	456.2	21.5
Verbraucherkredite	215.8	10.9

Gebührenpflichtige Bankdienstleistungen

Der gebührenbasierte Umsatz belief sich im Jahr 2023 auf insgesamt 24,6 Millionen US-Dollar, mit folgender Aufschlüsselung der Leistungen:

• Kontoführungsgebühren: 8,2 Millionen US-Dollar
• Überziehungsgebühren: 6,7 Millionen US-Dollar
• Transaktionsgebühren: 5,9 Millionen US-Dollar
• Sonstige Gebühren für Bankdienstleistungen: 3,8 Millionen US-Dollar

Provisionen für Anlageprodukte

Der Umsatz aus Anlageprodukten betrug im Jahr 2023 12,3 Millionen US-Dollar mit folgender Verteilung:

Anlageprodukt	Provisionseinnahmen (Mio. USD)
Vermögensverwaltungsdienstleistungen	6.7
Maklerdienstleistungen	3.9
Ruhestandsplanung	1.7

Gebühren für digitale Bankdienstleistungen

Der Umsatz im digitalen Banking erreichte im Jahr 2023 5,4 Millionen US-Dollar:

• Gebühren für Online-Banking-Transaktionen: 2,1 Millionen US-Dollar
• Gebühren für Mobile-Banking-Dienste: 1,8 Millionen US-Dollar
• Digitale Zahlungsabwicklung: 1,5 Millionen US-Dollar

Treasury-Management-Dienstleistungen

Die Einnahmen aus der Treasury-Verwaltung beliefen sich im Jahr 2023 auf insgesamt 7,9 Millionen US-Dollar:

Treasury-Service	Umsatz (Mio. USD)
Cash-Management	3.6
Händlerdienste	2.5
Internationale Bankdienstleistungen	1.8

Southern First Bancshares, Inc. (SFST) - Canvas Business Model: Value Propositions

You're looking at what Southern First Bancshares, Inc. offers its customers that makes them choose this bank over others. It's all about the service model and the strength backing it up.

Highly personalized, relationship-first banking service is a core promise. The Chief Executive Officer noted that the team is focused on impacting lives by delivering the highest level of client and community service. This is supported by the continuous hiring of experienced and successful bankers to expand markets and add depth in existing areas.

For commercial clients, the value proposition centers on local decision-making and quick response times. The bank operates within high-growth Southeastern markets, which suggests a deep, localized understanding of regional business needs, allowing for faster execution than larger, more centralized institutions.

Southern First Bancshares, Inc. provides comprehensive financial solutions for professionals and businesses. This is evident in the structure of their loan portfolio, which shows significant diversification across key commercial segments as of Q2 2025.

Here's a look at the composition of the loan portfolio, showing where their expertise is concentrated:

Loan Category	Percentage of Total Loans (Q2 2025)
Commercial Real Estate	43.4%
Residential Mortgages	31.1%
Non-Owner-Occupied Loans	25.1%
Owner-Occupied Loans	18.3%
Commercial Business Loans	15.7%

The bank's commitment to quality underwriting is reflected in its strong asset quality. As reported for the first quarter of 2025, nonperforming assets stood at just 0.26% of total assets. This metric is a key indicator of the quality of the assets on the balance sheet.

Furthermore, the bank's financial foundation supports these offerings. The book value per share reached $42.23 as of Q2 2025, and the Tangible Common Equity ratio was reported at 7.88% in Q1 2025, providing balance sheet strength for continued growth.

The focus on specific lending areas highlights their expertise in commercial real estate, which comprised 43.4% of the total loan portfolio in Q2 2025. This concentration suggests specialized knowledge and established relationships within that sector.

You can see the value propositions distilled into a few key areas:

• Relationship-first service delivery.
• Rapid decision-making for commercial borrowers.
• Exceptional asset quality metrics.
• Deep specialization in commercial real estate lending.
• Strong capital position supporting growth.

Finance: draft 13-week cash view by Friday.

Southern First Bancshares, Inc. (SFST) - Canvas Business Model: Customer Relationships

You're looking at how Southern First Bancshares, Inc. keeps its clients close, which is the whole point of their business structure.

Dedicated Senior Officer assigned to every client

The cornerstone of Southern First Bancshares, Inc. is its Relationship Team. This structure ensures that every client has a specific Senior Officer and Client Officer, supported by a consistent staff dedicated to handling all of that client's banking needs. This is part of their simple and efficient model they call ClientFIRST. This approach is designed to build and maintain long-term relationships with desirable clients.

The scale of the relationships they manage as of September 30, 2025, is reflected in the balance sheet:

Metric	Amount as of Q3 2025
Total Loans	$3.8 billion
Core Deposits	$2.9 billion

Relationship-driven model fostering long-term client partnerships

Southern First Bancshares, Inc. explicitly states that funding high-quality loan growth with client retail deposits is core to its full relationship banking strategy. Their stated philosophy is Relationships First. This focus drives their operational discipline.

The emphasis on service translates into revenue growth from client activity:

• Service fees on deposit accounts increased 10% over the prior quarter (Q2 2025).
• Service fees on deposit accounts increased 37% over the prior year (Q3 2024).

High-touch, personalized service over transactional banking

The service model is built around Personal Service, where each account gets a dedicated team of bankers. The goal is to know you and your goals so they can help you achieve them. They use digital tools, like online and mobile banking, to handle everyday needs, which frees up their bankers to focus on complex transactions or unique needs where hands-on assistance is required. This focus on reducing back-office duties for bankers is critical to sustaining the premium service level.

The book value per common share as of the third quarter of 2025 stood at $43.51, showing the underlying value supporting these relationship investments.

Community involvement to build local trust and loyalty

The bank's mission is to impact lives in the communities they serve. They actively support local trust and loyalty through tangible actions and investments, which are evaluated under the Community Reinvestment Act (CRA).

For the 2025 public file, the Federal Deposit Insurance Corporation (FDIC) ratings for Southern First Bank were:

• Investment Test: Outstanding
• Service Test: High Satisfactory
• Lending Test: Low Satisfactory

The latest comprehensive community investment figures, reported as of the end of 2024, show direct financial support:

Investment Category	Amount (End of 2024)
Affordable Housing Initiatives	$15MM
Economic Development Initiatives	$2MM
Community Service Initiatives	$232K
Revitalization Initiatives (LMI/Underserved Areas)	$7MM

Further demonstrating commitment, in 2024, Southern First Bancshares, Inc.:

• Invested over $524,000 through monetary donations, sponsorships, and direct investments.
• Originated $69MM in loans with a purpose of Community Development.
• Associates completed over 2,700 hours of volunteering with local nonprofits.

Finance: draft the 13-week cash view by Friday.

Southern First Bancshares, Inc. (SFST) - Canvas Business Model: Channels

You're looking at how Southern First Bancshares, Inc. (SFST) gets its services to clients as of late 2025. It's a mix of physical presence and digital tools, all anchored by personal relationships.

The physical branch network is concentrated in high-growth Southeastern markets. As of the Q3 2025 reporting period, Southern First Bancshares operates a total of 13 physical locations across three states.

The distribution of these physical access points is detailed below:

State/Market	Number of Locations	Key Financial Context (Q2 2025)
South Carolina (Total)	9	Almost half of the bank's deposits, 48.7%, originate in Greenville, SC.
North Carolina (Total)	3	Markets include Raleigh, Greensboro, and Charlotte.
Georgia (Total)	1	The lone branch in Atlanta controls 12.2% of the bank's deposits.
Greenville, SC (Specific)	4	Total assets for Southern First Bancshares were $4.31 billion in Q2 2025.

Direct access remains a core part of the strategy, emphasizing the relationship-first banking model. Every client is assigned a dedicated team.

• Dedicated Senior Officer and Client Officer for every account.
• Consistent support staff assigned to the Relationship Team.
• Continued attraction and retention of experienced bankers to expand markets.

Digital channels support the in-person service, offering convenience for routine tasks. Southern First Bancshares provides platforms for online account management and other electronic services.

The digital suite includes specific tools for client convenience:

• Internet banking services.
• Mobile banking services.
• Bill payment services.
• Remote Deposit Capture.
• eZBusiness Management and eZCard access.

For cash access, the bank relies on a shared ATM network association, which they view as supporting client convenience but not critical to overall success. The bank's total loans reached $3.8 billion as of Q3 2025, funded by core deposits of $2.9 billion.

Southern First Bancshares, Inc. (SFST) - Canvas Business Model: Customer Segments

Southern First Bancshares, Inc. serves individuals and businesses across its focused geographic footprint in the Carolinas and Atlanta, Georgia. Total Assets stood at $4.31 billion as of June 30, 2025, up 5.4% from year-end 2024. Total Loans were valued at $3.71 billion at the end of Q2 2025. Total Deposits were $3.64 billion as of Q2 2025.

The bank's operations are primarily driven by its Commercial and Retail Banking segments, which include the provision of traditional deposit and lending products and services.

Small and midsize businesses (SMBs) in high-growth Southeastern markets

The bank operates in metropolitan areas projected to grow their populations by a rate about 2.5x the national average. The focus on business banking supports this segment. Commercial loans represented $2.28 billion, or 60.9% of the total loan portfolio as of June 30, 2025. Commercial business loans held a 15.7% share in one portfolio breakdown.

Affluent professionals and high-net-worth individuals

This group is served through the wealth management business segment. The deposit base reflects a strong relationship focus, with Retail deposits making up $3.08 billion, which is 84.6% of total deposits as of Q2 2025. Almost 21% of the bank's deposits were non-interest bearing as of Q2 2025.

Individual customers seeking residential mortgages and consumer banking

This segment is supported by traditional consumer banking services, including home mortgages. Residential mortgages accounted for the largest share of the loan portfolio at 31.1% as of Q2 2025. Consumer loans totaled $1.46 billion, which is 39.1% of total loans. Within consumer loans, real estate loans totaled $1.16 billion.

Commercial real estate investors and developers

This segment is heavily represented within the commercial lending portfolio. Non-owner-occupied loans accounted for 25.1% of the loan portfolio at the end of Q2 2025. Owner occupied loans were 18.3% of the portfolio. Specific real estate loan allocations within the commercial portfolio as of Q2 2025 include:

• Office loans: $221.1 million, representing 5.90% of the total portfolio.
• Retail loans: $186.5 million, representing 4.98% of the total portfolio.
• Hotel loans: $142.7 million, representing 3.81% of the total portfolio.
• Multifamily loans: $97.7 million, representing 2.61% of the total portfolio.

Here's the quick math on the loan portfolio composition as of Q2 2025, based on the percentage breakdown provided:

Loan Category	Portfolio Percentage (One View)	Portfolio Dollar Amount (Alternative View)	Portfolio Percentage (Alternative View)
Residential Mortgages	31.1%	N/A	N/A
Non-owner-occupied Loans	25.1%	N/A	N/A
Owner occupied Loans	18.3%	N/A	N/A
Commercial Business Loans	15.7%	$2.28 billion (Commercial Loans)	60.9%
Consumer Loans (Total)	N/A	$1.46 billion	39.1%

What this estimate hides is that the two percentage breakdowns for the loan portfolio don't perfectly align, which is common when looking at different reporting cuts, but the data points are real.

Southern First Bancshares, Inc. (SFST) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Southern First Bancshares, Inc. running, which is key to understanding their margins, especially as they grow.

The Cost Structure for Southern First Bancshares, Inc. is heavily weighted toward personnel and funding costs, which is typical for a relationship-focused bank. For the second quarter of 2025, the total Noninterest Expense was reported at $19.3 million. This represented a sequential increase of $500 thousand over the first quarter of 2025.

A major component of this is the cost associated with the team. The increase in noninterest expense from the second quarter of 2024 to the second quarter of 2025 was primarily driven by higher compensation and benefits costs, reflecting the company's strategy to attract and retain experienced bankers.

The cost of funding operations is also significant. While specific Q2 2025 interest expense on deposits isn't explicitly stated, the full year 2024 data shows that Deposits Interest Expense totaled $109 million. This highlights the ongoing, substantial nature of interest expense on interest-bearing deposits, even with the reported sequential decrease in Q2 2025 interest expense on deposits compared to Q1 2025.

Other key noninterest costs contributing to the Q2 2025 increase included outside service and data processing costs and professional fees.

The physical footprint also drives costs. Southern First Bank operates across 13 branch locations: nine in South Carolina, three in North Carolina, and one in Atlanta, Georgia. For context on fixed overhead, the annual figure for Net Occupancy & Equipment Expense in 2024 was $18 million.

Here's a breakdown of key expense line items where data is available:

Expense Category	Period/Year	Amount (USD Millions)
Total Noninterest Expense	Q2 2025	$19.3
Total Interest Expense	Full Year 2024	$120
Deposits Interest Expense	Full Year 2024	$109
Salaries and Employee Benefits	Full Year 2024	$44
Net Occupancy & Equipment Expense	Full Year 2024	$18

You can see the primary drivers of the recent noninterest expense rise:

• Increases in compensation and benefits costs.
• Rising outside service and data processing costs.
• Higher professional fees.
• Decreases in insurance expense provided some offset.

The bank's commitment to its service model means personnel costs are a structural element of its operating expense base. Finance: draft Q3 2025 expense comparison by next Tuesday.

Southern First Bancshares, Inc. (SFST) - Canvas Business Model: Revenue Streams

The revenue streams for Southern First Bancshares, Inc. are fundamentally driven by traditional banking activities, heavily weighted toward interest income from its loan book, supplemented by various fee-based services. This structure reflects a full relationship banking strategy focused on high-quality loan growth funded by client retail deposits.

Net Interest Income (NII) remains the primary engine. This is the difference between interest earned on assets, primarily the loan portfolio, and interest paid on liabilities, like deposits. For context on the first half of the year, Southern First Bancshares achieved a 2.50% Net Interest Margin (NIM) in the second quarter of 2025. By the third quarter of 2025, the NIM had expanded further to 2.62%, showing continued pricing discipline. Net interest income for Q3 2025 was reported at $27.5 million, a year-over-year increase of 33.7%.

Non-interest income provides a crucial secondary stream. For the third quarter of 2025, total noninterest income reached $3.6 million. Mortgage banking income is consistently the largest component within this category. As specified for the second quarter of 2025, this fee revenue was $1.6 million. This figure held steady at $1.6 million in fee revenue for the third quarter of 2025 as well.

The total revenue picture for the Trailing Twelve Month (TTM) period ending with the third quarter of 2025 demonstrates significant growth. Southern First Bancshares reported a Total Trailing Twelve Month (TTM) revenue of $109.39 million (ending Q3 2025), which represented a year-over-year increase of 21.32%.

Other fee-based revenue sources support the overall model, derived from the bank's service offerings:

• Fees from deposit accounts, cash management, and treasury services.
• Service charges on customer accounts and ATM transaction fees.

The growth in deposit-related fees is notable. Specifically, service fees on deposit accounts increased 10% over the prior quarter and 37% over the prior year as of Q3 2025.

Here's a quick look at the key components contributing to the revenue base, using the latest reported quarterly figures where available:

Revenue Component	Latest Reported Period	Amount/Rate
Net Interest Income (NII)	Q3 2025	$27.5 million
Net Interest Margin (NIM) Context	Q2 2025	2.50%
Mortgage Banking Income	Q2 2025	$1.6 million
Total Non-interest Income	Q3 2025	$3.6 million
Service Fees on Deposit Accounts Growth (YoY)	Q3 2025	37% increase
Total Trailing Twelve Month (TTM) Revenue	TTM ending Q3 2025	$109.39 million

The bank's reported total revenue for the third quarter of 2025 was $31.13 million, surpassing consensus estimates. This revenue growth was achieved at a rate two and a half times its expense growth for the quarter.