Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of condensed financial information of Southern First Bancshares, Inc. (parent company only)

	December 31,
(dollars in thousands)	2022		2021
Assets
Cash and cash equivalents	$	13,882		12,379
Investment in subsidiaries		317,102		301,880
Other assets		21		21
Total assets	$	331,005		314,280
Liabilities and Shareholders’ Equity
Accounts payable and accrued expenses	$	279		274
Subordinated debentures		36,214		36,105
Shareholders’ equity		294,512		277,901
Total liabilities and shareholders’ equity	$	331,005		314,280

	For the years ended December 31,
(dollars in thousands)	2022			2021			2020
Revenues
Interest income	$	20			17			17
Total revenue		20			17			17
Expenses
Interest expense		1,730			1,523			1,708
Other expenses		240			285			283
Total expenses		1,970			1,808			1,991
Income tax benefit		409			376			415
Loss before equity in undistributed net income of subsidiaries		(1,541	)		(1,415	)		(1,559	)
Equity in undistributed net income of subsidiaries		30,656			48,126			19,887
Net income	$	29,115			46,711			18,328

	For the years ended December 31,
(dollars in thousands)	2022			2021			2020
Operating activities
Net income	$	29,115			46,711			18,328
Adjustments to reconcile net income to cash provided by (used for) operating activities
Equity in undistributed net income of subsidiaries		(30,656	)		(48,126	)		(19,887	)
Compensation expense related to stock options and restricted stock grants		2,026			1,647			1,397
(Increase) decrease in other assets		-			8			(23	)
Increase (decrease) in accounts payable and accrued expenses		113			108			63
Net cash provided by (used for) operating activities		598			348			(122	)
Investing activities
Investment in subsidiaries, net		-			-			-
Net cash used for investing activities		-			-			-
Financing activities
Issuance of common stock		-			-			-
Proceeds from the exercise of stock options and warrants		905			3,012			1,388
Net cash provided by financing activities		905			3,012			1,388
Net increase in cash and cash equivalents		1,503			3,360			1,266
Cash and cash equivalents, beginning of year		12,379			9,019			7,753
Cash and cash equivalents, end of year	$	13,882			12,379			9,019