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Southern First Bancshares, Inc. (NASDAQ:SFST), a profitable regional bank with a market capitalization of $295 million and a "Fair" financial health rating according to InvestingPro, announced the appointment of three new directors to its board, effective June 1, 2025. The appointments were approved by the joint Board of Directors of Southern First Bancshares and Southern First Bank. The new directors are Jennifer S. Cluverius, Darrin Goss, Sr., and William M. McClatchey, Jr.
Ms. Cluverius, a shareholder at Maynard Nexsen, PC, will serve on the Compensation Committee. She holds a bachelor’s degree from Clemson University and a J.D. from the University of South Carolina School of Law. Mr. Goss, the president and CEO of the Coastal Community Foundation, will join the Audit Committee. He has a bachelor’s degree from Wofford College and a master’s degree from North Greenville University. Mr. McClatchey, CEO of Chaucer Creek Capital, will be part of the Risk Committee. He completed his undergraduate degree at Duke University and his MBA at the University of North Carolina. These appointments come as the bank maintains strong profitability with a P/E ratio of 16.2x and revenue growth of 12% over the last twelve months.
The new directors will participate in the current compensation arrangements applicable to the company’s non-employee directors. There are no arrangements or understandings with other persons regarding their selection, and none of the directors have engaged in any transactions reportable as related party transactions under SEC regulations. InvestingPro analysis suggests the stock is currently fairly valued, with additional metrics and insights available to subscribers, including 5 more exclusive ProTips about the company’s financial outlook.
This information is based on a recent SEC filing by Southern First Bancshares.
In other recent news, Southern First Bancshares has announced the promotion of Wes Wilbanks to Chief Credit Officer and Executive Vice President. Wilbanks, who joined Southern First in 2021, brings 25 years of experience in banking, including senior credit roles at a regional bank. This strategic appointment is part of the company’s ongoing efforts to enhance growth and risk management within its loan portfolio. Meanwhile, Southern First Bancshares also announced the upcoming departure of its Chief Risk Officer, William M. Aiken III, effective March 31, 2025. Aiken has been with the company since 2020 and has played a crucial role in shaping its risk management strategies. The company has not yet named a successor for the Chief Risk Officer position. These executive changes reflect Southern First Bancshares’ commitment to maintaining a strong leadership team as it navigates the competitive banking landscape. Stakeholders will be watching closely to see how these shifts impact the company’s strategic direction and risk management policies.
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