Southern First Bancshares, Inc. (SFST) Balance Sheet
SFST balance sheet, 2025
December 31, 2025 · U.S. dollars$4.40B assets = $4.03B liabilities + $368.7M equity
Both columns are drawn to the same scale: what SFST owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SFST financial health
Descriptive bands, not a rating. Fiscal 2025.
SFST balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.34B2016 | $4.40B2025 | +14.1%/yr | |
| Total liabilities | $1.23B2016 | $4.03B2025 | +14.1%/yr | |
| Shareholders’ equity | $109.9M2016 | $368.7M2025 | +14.4%/yr | |
| Cash & short-term investments | $87.0M2016 | $86.1M2025 | −0.1%/yr | |
| Total debt | $128.6M2016 | $264.9M2025 | +8.4%/yr | |
| Net cash (debt) | −$41.6M2016 | −$178.8M2025 | −$137.2M | |
| Working capital | −$1.00B2016 | −$3.63B2025 | −$2.6B | |
| Book value per share | $16.352016 | $45.562025 | +12.1%/yr | |
| Debt / equity | 1.172016 | 0.722025 | −0.45 | |
| Shares outstanding | 6.7M2016 | 8.1M2025 | +2.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SFST assets
SFST liabilities and equity
SFST debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SFST balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $86.1M | $34.9M | $46.3M | $165.1M | $162.0M | $88.1M | $121.8M | $111.9M | $110.6M | $87.0M |
| Cash & equivalents | $86.1M | $34.4M | $36.8M | $165.1M | $162.0M | $88.1M | $121.8M | $37.0M | $43.0M | $22.5M |
| Short-term investments | $19,000 | $461,000 | $9.5M | $93.3M | $120.3M | $94.7M | $67.7M | $74.9M | $67.6M | $64.5M |
| Receivables | $11.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $1.2M | $0 | $0 | $242,000 | $639,000 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $86.1M | $34.9M | $46.3M | $165.1M | $162.0M | $88.1M | $121.8M | $111.9M | $110.6M | $87.0M |
| Property, plant & equipment (net) | $83.5M | $88.8M | $94.3M | $99.2M | $92.4M | $60.2M | $58.5M | $32.4M | $32.2M | $28.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $133.3M | $137.1M | $138.6M | $104.2M | $124.3M | $2.26B | $1.95B | $1.67B | $1.38B | $1.16B |
| Other non-current assets | $4.10B | $3.83B | $3.78B | $3.32B | $2.55B | $76.9M | $133.0M | $85.5M | $98.4M | $69.0M |
| Total assets | $4.40B | $4.09B | $4.06B | $3.69B | $2.93B | $2.48B | $2.27B | $1.90B | $1.62B | $1.34B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $3.13B | $2.56B | $2.14B | $1.88B | $1.65B | $1.38B | $1.09B |
| Short-term debt | — | $2.2M | $2.1M | $177.0M | $2.0M | $27.3M | $112.1M | $25.0M | $42.2M | $78.0M |
| Deferred revenue | — | — | — | $12.5M | — | $9.5M | — | — | — | — |
| Total current liabilities | $3.72B | $3.44B | $3.38B | $3.23B | $2.49B | $1.92B | $1.64B | $1.65B | $1.38B | $1.09B |
| Long-term debt | $264.9M | $264.9M | $311.3M | $36.2M | $36.1M | $36.0M | $35.9M | $13.4M | $13.4M | $13.4M |
| Other long-term liabilities | $53.1M | $56.5M | $52.4M | $175.0M | $0 | $0 | $0 | $65.2M | $80.4M | $126.5M |
| Total liabilities | $4.03B | $3.76B | $3.74B | $211.2M | $36.1M | $36.0M | $35.9M | $1.73B | $1.47B | $1.23B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $82,000 | $82,000 | $81,000 | $80,000 | $79,000 | $78,000 | $77,000 | $75,000 | $73,000 | $65,000 |
| Retained earnings (deficit) | $251.4M | $221.1M | $205.5M | $192.1M | $165.8M | $119.1M | $100.7M | $72.9M | $50.6M | $37.5M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$7.5M | −$11.5M | −$11.3M | −$13.4M | −$2.2M | $325,000 | −$1.1M | −$917,000 | −$456,000 | −$504,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $368.7M | $330.4M | $312.5M | $3.48B | $2.89B | $2.45B | $2.23B | $173.9M | $149.7M | $109.9M |
| Key figures | ||||||||||
| Total debt | $264.9M | $264.9M | $311.3M | $213.2M | $38.1M | $63.3M | $148.0M | $63.4M | $80.6M | $128.6M |
| Net cash (debt) | −$178.8M | −$230.0M | −$265.0M | −$48.2M | $123.9M | $24.8M | −$26.2M | $48.5M | $30.0M | −$41.6M |
| Working capital | −$3.63B | −$3.40B | −$3.33B | −$3.06B | −$2.33B | −$1.83B | −$1.52B | −$1.54B | −$1.27B | −$1.00B |
| Tangible book value | $368.7M | $330.4M | $312.5M | $3.48B | $2.89B | $2.45B | $2.23B | $173.9M | $149.7M | $109.9M |
| Book value per share | $45.56 | $40.71 | $38.68 | $431.23 | $361.68 | $312.69 | $287.08 | $22.48 | $20.20 | $16.35 |
| Shares outstanding | 8.1M | 8.1M | 8.1M | 8.1M | 8.0M | 7.8M | 7.8M | 7.7M | 7.4M | 6.7M |
| Current ratio | 0.02 | 0.01 | 0.01 | 0.05 | 0.06 | 0.05 | 0.07 | 0.07 | 0.08 | 0.08 |
| Quick ratio | 0.03 | 0.01 | 0.01 | 0.05 | 0.06 | 0.05 | 0.07 | 0.07 | 0.08 | 0.08 |
| Debt / equity | 0.72 | 0.80 | 1.00 | 0.06 | 0.01 | 0.03 | 0.07 | 0.36 | 0.54 | 1.17 |
| Equity / assets | 8.4% | 8.1% | 7.7% | 94.3% | 98.8% | 98.5% | 98.4% | 9.2% | 9.2% | 8.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $174.5M | $114.6M | $86.1M | $104.8M | $90.7M | $41.9M | $34.9M | $169.1M | $151.7M | $148.7M | $46.3M | $168.7M |
| Cash & equivalents | $30.1M | $114.5M | $86.1M | $104.4M | $90.2M | $41.4M | $34.4M | $34.5M | $30.4M | $22.7M | $36.8M | $24.7M |
| Short-term investments | $144.4M | $35,000 | $19,000 | $469,000 | $466,000 | $465,000 | $461,000 | $134.6M | $121.4M | $126.0M | $9.5M | $144.0M |
| Receivables | $0 | $0 | $11.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $30.1M | $114.6M | $86.1M | $104.8M | $90.7M | $41.9M | $34.9M | $169.1M | $151.7M | $148.7M | $46.3M | $168.7M |
| Property, plant & equipment (net) | $88.0M | $88.6M | $83.5M | $84.6M | $85.9M | $87.4M | $88.8M | $90.2M | $91.5M | $93.0M | $94.3M | $95.7M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $150.1M | $129.8M | $133.3M | $136.6M | $134.2M | $136.7M | $137.1M | $139.7M | $125.4M | $129.9M | $138.6M | $163.6M |
| Other non-current assets | $4.43B | $4.25B | $4.10B | $4.03B | $4.00B | $4.02B | $3.83B | $3.78B | $3.74B | $3.73B | $3.78B | $3.59B |
| Total assets | $4.70B | $4.58B | $4.40B | $4.36B | $4.31B | $4.28B | $4.09B | $4.17B | $4.11B | $4.11B | $4.06B | $4.02B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | $3.35B |
| Short-term debt | $1.1M | — | $2.2M | — | $1.1M | $1.6M | $2.2M | $531,000 | $1.1M | $1.6M | $2.1M | $516,000 |
| Total current liabilities | $1.1M | $3.87B | $3.72B | $3.68B | $3.64B | $3.62B | $3.44B | $3.52B | $3.46B | $3.46B | $3.38B | $3.35B |
| Long-term debt | $253.4M | $264.9M | $264.9M | $264.9M | $264.9M | $264.9M | $264.9M | $264.9M | $276.4M | $276.3M | $311.3M | $311.3M |
| Other long-term liabilities | $3.99B | $60.6M | $53.1M | $60.9M | $61.4M | $60.9M | $56.5M | $64.4M | $54.9M | $53.4M | $52.4M | $57.0M |
| Total liabilities | $4.25B | $4.20B | $4.03B | $4.00B | $3.96B | $3.95B | $3.76B | $3.85B | $3.79B | $3.79B | $3.74B | $3.72B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $95,000 | $82,000 | $82,000 | $82,000 | $82,000 | $82,000 | $82,000 | $82,000 | $82,000 | $82,000 | $81,000 | $81,000 |
| Retained earnings (deficit) | $272.5M | $261.3M | $251.4M | $241.6M | $232.9M | $226.3M | $221.1M | $215.4M | $211.1M | $208.1M | $205.5M | $201.4M |
| Accumulated other comprehensive income | −$9.3M | −$7.9M | −$7.5M | −$8.4M | −$9.6M | −$10.0M | −$11.5M | −$9.1M | −$11.9M | −$11.8M | −$11.3M | −$15.3M |
| Total shareholders' equity | $452.3M | $379.4M | $368.7M | $356.3M | $345.5M | $337.6M | $330.4M | $326.5M | $318.7M | $315.3M | $312.5M | $303.9M |
| Key figures | ||||||||||||
| Total debt | $280.2M | $264.9M | $264.9M | $264.9M | $264.9M | $264.9M | $264.9M | $264.9M | $276.4M | $276.3M | $311.3M | $311.3M |
| Net cash (debt) | −$105.7M | −$150.3M | −$178.8M | −$160.1M | −$174.2M | −$223.0M | −$230.0M | −$95.8M | −$124.6M | −$127.6M | −$265.0M | −$142.6M |
| Working capital | $29.0M | −$3.76B | −$3.63B | −$3.57B | −$3.55B | −$3.58B | −$3.40B | −$3.35B | −$3.31B | −$3.31B | −$3.33B | −$3.18B |
| Tangible book value | $452.3M | $379.4M | $368.7M | $356.3M | $345.5M | $337.6M | $330.4M | $326.5M | $318.7M | $315.3M | $312.5M | $303.9M |
| Book value per share | $48.53 | $45.75 | $45.38 | $44.10 | $42.47 | $41.62 | $40.71 | $40.37 | $39.15 | $38.72 | $38.67 | $37.65 |
| Shares outstanding | 9.3M | 8.3M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M |
| Current ratio | 27.12 | 0.03 | 0.02 | 0.03 | 0.02 | 0.01 | 0.01 | 0.05 | 0.04 | 0.04 | 0.01 | 0.05 |
| Quick ratio | 157.20 | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.05 | 0.04 | 0.04 | 0.01 | 0.05 |
| Debt / equity | 0.62 | 0.70 | 0.72 | 0.74 | 0.77 | 0.78 | 0.80 | 0.81 | 0.87 | 0.88 | 1.00 | 1.02 |
| Equity / assets | 9.6% | 8.3% | 8.4% | 8.2% | 8.0% | 7.9% | 8.1% | 7.8% | 7.8% | 7.7% | 7.7% | 7.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
SFST financial position
At the end of fiscal 2025 (December 31, 2025), Southern First Bancshares had total assets of $4.4 billion (up 7.7% from a year earlier), total liabilities of $4.0 billion and shareholders' equity of $368.7 million. It held $86.1 million in cash and short-term investments against $264.9 million of debt, net debt of $178.8 million. Its current ratio was 0.02. In the latest quarter (ended June 30, 2026) total assets were $4.7 billion and equity $452.3 million.
Related: SFST income statement, SFST cash flow statement, SFST key metrics. See the SFST stock overview for the latest quote and news.
SFST balance sheet FAQ
What are Southern First Bancshares's total assets?
Southern First Bancshares reported total assets of $4.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.1 billion a year earlier.
How much debt does Southern First Bancshares have?
Southern First Bancshares had $264.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.72.
How much cash does Southern First Bancshares have?
Southern First Bancshares held $86.1 million in cash and short-term investments at the end of fiscal 2025; with $264.9 million of debt that is net debt of $178.8 million.
What is Southern First Bancshares's book value?
Southern First Bancshares's shareholders' equity (book value) was $368.7 million at the end of fiscal 2025, or $45.56 per share.
What is Southern First Bancshares's current ratio?
Southern First Bancshares had current assets of $86.1 million and current liabilities of $3.7 billion, a current ratio of 0.02 (current liabilities exceed current assets).