GREENVILLE, S.C. - Southern First Bancshares, Inc. (NASDAQ: NASDAQ:SFST), the parent company of Southern First Bank (NASDAQ:FRBA), today announced the appointment of Chris Zych as its new Chief Financial Officer and Executive Vice President.
Zych, who brings 30 years of banking industry experience to his new role, previously served as Director of Corporate Development and Investor Relations at United Community Bank. His career has been marked by significant achievements in financial management, corporate strategy formulation and execution, and investor relations. Zych is a graduate of Wake Forest University School of Business, where he earned his MBA, and Bentley University, where he received a bachelor's degree in finance.
Art Seaver, CEO of Southern First, expressed confidence in Zych's ability to contribute to the bank's narrative of organic growth and consistent performance, citing his extensive experience in developing investor relationships.
In response to his appointment, Zych shared his enthusiasm for joining Southern First, recognizing the bank's commitment to client service and community impact. He anticipates the bank will encounter numerous growth opportunities and is keen to contribute to its ongoing success.
Southern First Bancshares, headquartered in Greenville, South Carolina, is the holding company for Southern First Bank, which is the second-largest bank based in the state. Since its inception in 1999, Southern First Bank has expanded to 13 locations across South Carolina, North Carolina, and Georgia. The company boasts consolidated assets of around $4.1 billion.
This executive appointment is expected to support Southern First's strategic objectives and bolster its financial leadership.
The information regarding Chris Zych's appointment is based on a press release statement from Southern First Bancshares, Inc.
InvestingPro Insights
As Southern First Bancshares (NASDAQ: SFST) welcomes Chris Zych as the new CFO, investors may be keen to understand the financial standing and market sentiment surrounding the company. According to real-time data from InvestingPro, Southern First Bancshares has a market capitalization of $215.73 million and a P/E ratio of 16.13. These metrics are crucial as they provide a snapshot of the company's value and profitability from an investor's perspective.
Despite a challenging environment, indicated by a revenue decline of 9.94% over the last twelve months as of Q1 2024, the company has shown a quarterly revenue growth of 4.07% in Q1 2024. This suggests that Southern First Bancshares may be on a path to recovery, with the potential for growth opportunities that the new CFO, Chris Zych, is eager to pursue.
An InvestingPro Tip highlights that analysts predict the company will be profitable this year, which aligns with the company's positive operating income margin of 24.46% over the last twelve months. Moreover, the company has been profitable over the last twelve months with a basic and diluted EPS (Continuing Operations) of $1.64. This is an important consideration for investors looking at the company's earnings potential.
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