Core Insights - Southern First Bancshares, Inc. has appointed Blair Miller as Chief Retail Experience Officer and Executive Vice President, aiming to enhance client service and company culture [1][2]. Company Overview - Southern First Bancshares, Inc. is a registered bank holding company based in Greenville, South Carolina, with consolidated assets of approximately $4.1 billion [5]. - The company's subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina, operating in 13 locations across South Carolina and parts of North Carolina and Georgia [5]. Leadership and Vision - Blair Miller brings over 20 years of experience, previously serving as Area Manager and Senior Vice President at Pinnacle Financial Partners for 12 years [2]. - Miller emphasizes the importance of client service and company culture, believing that excelling in these areas can lead to significant achievements [4]. - The Chief Innovation Officer, Dave Favela, expressed excitement about Miller's appointment, highlighting his creativity and passion as assets to the company's mission [3].

Financial Performance - Net income for Q4 2024 was $5.6 million, or $0.70 per diluted share, representing a 30% increase from Q3 2024 and a 37% increase from Q4 2023[4] - Net interest income increased by $1.9 million from Q3 2024 and $3.4 million from Q4 2023, primarily driven by higher interest income on loans[6] - Noninterest income for Q4 2024 was $2.8 million, a decrease from $3.2 million in Q3 2024, with mortgage banking income at $1.0 million[8] - Noninterest expense was $18.5 million, an increase of $505 thousand from Q3 2024 and $1.5 million from Q4 2023, driven by higher professional fees and other expenses[10] - The effective tax rate for Q4 2024 was 18.4%, down from 23.5% in Q3 2024 and 21.9% in Q4 2023[11] Asset and Liability Management - Total loans reached $3.6 billion and total deposits were $3.4 billion, with a net interest margin of 2.25%, up from 2.08% in Q3 2024 and 1.92% in Q4 2023[4] - Total assets as of December 31, 2024, were $4,087.6 million, a decrease from $4,174.6 million at the end of Q3 2024[15] - Total liabilities decreased to $3,757.1 million as of December 31, 2024, from $3,848.1 million at the end of Q3 2024[15] - Shareholders' equity increased to $330.4 million as of December 31, 2024, compared to $326.5 million at the end of Q3 2024[15] - Total deposits were $3.44 billion as of December 31, 2024, a decrease from $3.52 billion at September 30, 2024[20] Credit Quality - Nonperforming assets to total assets ratio was 0.27%, and past due loans to total loans ratio was 0.25%[4] - The company reported a reversal of the provision for credit losses of $200 thousand in Q4 2024, compared to no provision in Q3 2024[7] - Total nonperforming assets decreased by $706 thousand during Q4 2024, representing 0.27% of total assets compared to 0.28% in Q3 2024 and 0.10% in Q4 2023[16] - The allowance for credit losses was $39.9 million, or 1.10% of total loans, down from $40.2 million, or 1.11% at September 30, 2024[17] - Net charge-offs for Q4 2024 were $2 thousand, or 0.00% annualized, compared to net recoveries of $9 thousand in Q3 2024[17] Capital Ratios - Capital ratios remained strong, with a total risk-based capital ratio of 12.70% and a Tier 1 risk-based capital ratio of 11.16%[3] - Book value per common share increased to $40.47, with a tangible common equity ratio of 8.08%[4] - The book value per common share rose to $40.47 as of December 31, 2024, from $40.04 at the end of Q3 2024[15] Interest Income and Margin - Net interest income for Q4 2024 was $22.5 million, a $1.9 million increase from Q3 2024, attributed to a $1.9 million decrease in interest expense[13] - The average yield on interest-earning assets increased by 18 basis points compared to Q4 2023, contributing to the rise in net interest income[13] - The net interest margin on a tax-equivalent basis was 2.25% for Q4 2024, up 17 basis points from 2.08% in Q3 2024 and 33 basis points from 1.92% in Q4 2023[13] - The net interest spread for Q4 2024 was 1.38%, an increase from 1.16% in Q3 2024[12] Loan Portfolio - The average balance of loans was $3,620.8 million for Q4 2024, slightly down from $3,629.1 million in Q3 2024[12] - Total gross loans, net of deferred fees, amounted to $3.63 billion as of December 31, 2024, an increase from $3.60 billion a year earlier[19] - Owner-occupied real estate loans increased to $651.6 million in Q4 2024 from $642.6 million in Q3 2024[19] - Total consumer loans reached $1.40 billion as of December 31, 2024, slightly up from $1.39 billion in the previous quarter[19] Asset Classification - The classified asset ratio decreased to 4.25% in Q4 2024 from 4.35% in Q3 2024, remaining unchanged from Q4 2023[16] - The company added four new relationships to nonaccrual status during Q4 2024, while seven relationships returned to accrual status or paid off[16] - The provision for credit losses reversal was $250 thousand in Q4 2024, compared to no provision in Q3 2024 and a reversal of $640 thousand in Q4 2023[17]

Financial Performance - Net income available to common shareholders for Q3 2024 was $4.4 million, up from $4.1 million in Q3 2023, representing a 6.9% increase[126]. - Diluted earnings per share (EPS) for Q3 2024 was $0.54, compared to $0.51 for Q3 2023, reflecting a 5.9% increase[126]. - Net income available to common shareholders for the nine months ended September 30, 2024, was $9.9 million, compared to $9.3 million for the same period in 2023, a 6.5% increase[127]. - Diluted EPS for the nine months ended September 30, 2024, was $1.22, up from $1.15 in the same period of 2023, reflecting a 6.1% increase[127]. Assets and Liabilities - Total assets as of September 30, 2024, were $4.17 billion, a 2.9% increase from $4.06 billion at December 31, 2023[124]. - Total liabilities as of September 30, 2024, were $3.85 billion, up from $3.74 billion at December 31, 2023[124]. - The principal component of liabilities is deposits, which accounted for $3.52 billion of total liabilities as of September 30, 2024[124]. - Total deposits increased to $3.52 billion as of September 30, 2024, from $3.38 billion at December 31, 2023[124]. Interest Income and Margin - Net interest income for Q3 2024 was $20.6 million, a 6.4% increase from $19.3 million in Q3 2023, driven by a $3.7 million increase in interest income[128]. - Net interest margin on a tax-equivalent basis was 2.08% for Q3 2024, compared to 1.97% for the same period in 2023[128]. - The net interest margin (TE) increased by 11 basis points to 2.08% in Q3 2024 compared to Q3 2023, driven by an increase in interest-earning assets and yield[133]. - For the first nine months of 2024, the net interest margin (TE) decreased by 12 basis points to 2.00% compared to 2.12% in the same period of 2023[140]. Loans and Credit Quality - Average loans, excluding mortgage loans held for sale, increased to $3.62 billion for the nine months ended September 30, 2024, from $3.46 billion in the same period of 2023, representing a growth of 4.6%[162]. - Nonperforming assets increased to $11.6 million, or 0.28% of total assets, as of September 30, 2024, compared to $4.0 million, or 0.10% of total assets, at December 31, 2023[171]. - The allowance for credit losses was $40.2 million, representing 1.11% of outstanding loans and providing coverage of 346.78% of nonperforming loans at September 30, 2024[175]. Deposits and Funding - Retail deposits represented $2.93 billion, or 83.3% of total deposits, while wholesale deposits were $588.5 million, or 16.7%, at September 30, 2024[177]. - The loan-to-deposit ratio was 103% at September 30, 2024, down from 107% at December 31, 2023[177]. - Time deposits exceeding the FDIC insurance limit of $250,000 rose to $813.4 million from $568.1 million year-over-year[182]. Noninterest Income and Expenses - Noninterest income for Q3 2024 was $3.2 million, a 15.5% increase from $2.8 million in Q3 2023, with mortgage banking income rising by 20.0%[152]. - Noninterest expense for Q3 2024 was $18.0 million, a 4.3% increase from $17.3 million in Q3 2023, primarily due to higher compensation and benefits expenses[154]. - The efficiency ratio improved to 75.9% in Q3 2024 from 78.3% in Q3 2023, indicating better cost management relative to revenue[159]. Capital and Regulatory Compliance - Total shareholders' equity increased to $326.5 million, up $14.1 million from $312.5 million at the end of 2023, primarily due to net income of $9.9 million[195]. - The company maintains a capital conservation buffer, ensuring compliance with Basel III capital requirements, remaining "well capitalized" as of September 30, 2024[199]. - Total Capital to risk weighted assets as of September 30, 2024, is $399,736, representing a ratio of 12.61%[202]. Interest Rate Risk Management - The asset/liability management committee actively monitors interest rate risk exposure to maintain an appropriate balance between interest sensitive assets and liabilities[215]. - The forecasted impact on net interest income shows a decrease of 9.34% under a scenario of a 300 basis points increase in interest rates[217]. - A decrease of 300 basis points in interest rates is projected to increase net interest income by 26.29%[217].

Core Viewpoint - Southern First (SFST) reported quarterly earnings of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.38 per share, and showing an increase from $0.51 per share a year ago, indicating a strong performance in the recent quarter [1] Financial Performance - The company achieved revenues of $23.77 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.83% and up from $22.09 million year-over-year [1] - Southern First has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates two times in the same period [1] Stock Performance and Outlook - Southern First shares have declined approximately 3% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The company's earnings outlook is mixed, with a current consensus EPS estimate of $0.41 on revenues of $24.25 million for the upcoming quarter and $1.39 on revenues of $91.27 million for the current fiscal year [4] Industry Context - The Banks - Southeast industry, to which Southern First belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, which may impact the stock's performance [5] - Another company in the same industry, First Citizens BancShares (FCNCA), is expected to report a quarterly earnings decline of 14.3% year-over-year, with revenues anticipated to decrease by 9.5% from the previous year [5]

Financial Performance - Net income for Q3 2024 was $4.4 million, or $0.54 per diluted share, representing a $1.4 million increase from Q2 2024 and a $284 thousand increase from Q3 2023 [4]. - Noninterest income for Q3 2024 was $3.2 million, down from $3.5 million in Q2 2024, with mortgage banking income at $1.4 million [5]. - Net interest income for Q3 2024 was $20.6 million, an increase of $1.1 million from Q2 2024, driven by a $625 thousand increase in interest income and a $438 thousand decrease in interest expense [7]. - The effective tax rate for Q3 2024 was 23.5%, slightly up from 23.3% in Q2 2024 [7]. - The book value per common share increased to $40.04 in Q3 2024, up from $39.09 in Q2 2024 [9]. Asset and Liability Management - Total assets as of September 30, 2024, were $4,174.6 million, up from $4,109.8 million in June 2024 [9]. - Total liabilities increased to $3,848.1 million as of September 30, 2024, compared to $3,791.1 million in June 2024 [9]. - Total deposits rose to $3,518.8 million in Q3 2024, up from $3,459.9 million in Q2 2024 [9]. - Total gross loans, net of deferred fees, amounted to $3.62 billion as of September 30, 2024, a slight decrease from $3.62 billion in Q2 2024 [12]. - Total deposits reached $3.52 billion as of September 30, 2024, an increase from $3.46 billion in Q2 2024 [13]. Loan and Credit Quality - Total loans amounted to $3.6 billion and total deposits were $3.5 billion [3]. - Nonperforming assets to total assets ratio was 0.28%, with net recoveries of $9 thousand [3]. - The allowance for credit losses was $40.2 million, or 1.11% of total loans, with net recoveries of $9 thousand for Q3 2024, compared to net charge-offs of $1.0 million in Q2 2024 [12]. - The classified asset ratio was 4.35% for Q3 2024, up from 4.22% in Q2 2024 [11]. - The allowance for credit losses to nonaccrual loans was 346.78% as of September 30, 2024, compared to 357.95% in Q2 2024 [12]. Efficiency and Ratios - The efficiency ratio improved to 75.90% in Q3 2024, compared to 80.87% in Q2 2024 [3]. - The loans to deposits ratio was 102.86% in Q3 2024, down from 104.70% in Q2 2024 [3]. - Net interest margin increased to 2.08% in Q3 2024, up from 1.98% in Q2 2024 [3]. - The yield on the loan portfolio increased by seven basis points in Q3 2024, while the cost of interest-bearing deposits decreased by two basis points compared to Q2 2024 [7]. - The company maintained a total risk-based capital ratio of 12.61% [3]. Other Key Metrics - Core checking accounts grew by 21% on an annualized basis [2]. - Noninterest expense decreased to $18.0 million in Q3 2024, a reduction of $604 thousand from Q2 2024, primarily due to lower compensation and benefits expenses [5]. - Total nonperforming assets increased by $365 thousand during Q3 2024, representing 0.28% of total assets, compared to 0.27% in Q2 2024 [11]. - Non-owner occupied real estate loans totaled $917.6 million as of September 30, 2024, compared to $917.0 million in Q2 2024 [12]. - The company did not record a provision for credit losses in Q3 2024, contrasting with a $750 thousand provision in Q2 2024 [12].

Financial Performance - Net income available to common shareholders for Q2 2024 was $2.999 million, up 22% from $2.458 million in Q2 2023[124] - Diluted earnings per share (EPS) increased to $0.37 for Q2 2024, compared to $0.31 for Q2 2023, reflecting a 19.35% growth[124] - For the six months ended June 30, 2024, net income was $5.5 million, up from $5.2 million in the same period of 2023[125] - Diluted EPS for the six months ended June 30, 2024, was $0.68, compared to $0.64 for the same period in 2023, indicating a 6.25% increase[125] Assets and Liabilities - Total assets as of June 30, 2024, reached $4.11 billion, a 1.3% increase from $4.06 billion at December 31, 2023[122] - Total liabilities at June 30, 2024, were $3.79 billion, compared to $3.74 billion at December 31, 2023[122] - The principal component of liabilities is deposits, which accounted for $3.46 billion of total liabilities as of June 30, 2024[122] - Total deposits increased to $3.46 billion as of June 30, 2024, from $3.38 billion at December 31, 2023[122] Interest Income and Margin - Net interest income for Q2 2024 was $19.5 million, a 3.7% increase from $18.8 million in Q2 2023, driven by a $7.9 million rise in interest income[126] - The net interest margin on a tax-equivalent basis was 1.98% for Q2 2024, down from 2.05% in Q2 2023[126] - The net interest margin (TE) decreased by 7 basis points to 1.98% in Q2 2024 compared to Q2 2023, primarily due to rising deposit and borrowing costs outpacing loan yields[131] - Total interest income for the first half of 2024 was $38.2 million, compared to $39.2 million for the same period in 2023, reflecting a $1.1 million, or 2.74%, decrease[141] Interest Expense - The company recorded a $19.0 million increase in interest expense for the first half of 2024, primarily due to higher rates on interest-bearing deposits[141] - Total interest expense for Q2 2024 was $2.2 million, reflecting a $572,000 increase from the previous year[140] Noninterest Income and Expenses - Noninterest income for Q2 2024 was $3.5 million, a $787,000, or 28.8%, increase from $2.7 million in Q2 2023, with mortgage banking income rising by 43.8%[146] - Total noninterest expense for Q2 2024 was $18.6 million, a $1.3 million, or 7.2%, increase from $17.4 million in Q2 2023, primarily due to higher compensation and benefits[150] - The efficiency ratio for Q2 2024 was 80.9%, compared to 80.7% in Q2 2023, indicating a slight increase in expenses relative to revenue[151] Credit Quality - The provision for credit losses in Q2 2024 was $500,000, down from $910,000 in Q2 2023, with a total provision expense of $325,000 for the first half of 2024[144] - Nonperforming assets totaled $11.2 million, or 0.27% of total assets, as of June 30, 2024, compared to $4.0 million, or 0.10% of total assets, at December 31, 2023[161] - The allowance for credit losses was $40.2 million, representing 1.11% of outstanding loans and providing coverage of 357.95% of nonperforming loans at June 30, 2024[166] Deposits and Loans - Retail deposits represented $3.00 billion, or 86.6% of total deposits, while wholesale deposits were $463.7 million, or 13.4%, at June 30, 2024[169] - The loan-to-deposit ratio was 105% at June 30, 2024, compared to 107% at December 31, 2023[169] - Average loans for the six months ended June 30, 2024, were $3.63 billion, up from $3.42 billion in the same period of 2023[153] - The loan portfolio increased by $19.9 million, or 0.55%, during the first six months of 2024, with a $6.0 million increase in commercial loans and a $13.9 million increase in consumer loans[156] Capital and Equity - Total shareholders' equity increased to $318.7 million at June 30, 2024, from $312.5 million at December 31, 2023, driven by net income of $5.5 million[182] - Total Capital to risk-weighted assets as of June 30, 2024, is $406,383 thousand with a ratio of 12.77%[189] - Tier 1 Capital to risk-weighted assets is $343,614 thousand, representing 10.80% as of June 30, 2024[189] - Common Equity Tier 1 Capital to risk-weighted assets stands at $330,614 thousand, which is 10.39% as of June 30, 2024[189] Risk Management - Interest rate risk is actively monitored, with potential impacts on net interest income forecasted under various scenarios[199] - A 300 basis point increase in interest rates is projected to decrease net interest income by 13.97%[202] Miscellaneous - The Company has not paid cash dividends to shareholders since inception, as cash dividends depend on receiving cash from the Bank[190] - The financial statements have been prepared on a historical cost basis, not accounting for inflation effects[191]

Core Viewpoint - Southern First (SFST) reported quarterly earnings of $0.37 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, and showing an increase from $0.31 per share a year ago [1][11]. Financial Performance - The company posted revenues of $23.05 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.16%, compared to $21.56 million in the same quarter last year [2]. - This quarterly report represents an earnings surprise of 27.59% [11]. - Over the last four quarters, Southern First has exceeded consensus EPS estimates three times [7]. Future Outlook - The company is expected to report quarterly earnings of $1.15 per share in its upcoming report, reflecting a year-over-year change of +26.4% [5]. - The current consensus EPS estimate for the next quarter is $0.38 on revenues of $23.57 million, and for the current fiscal year, it is $1.39 on revenues of $91.27 million [6]. - The estimate revisions trend for Southern First is currently unfavorable, leading to a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [13]. Industry Context - Southern First operates within the Zacks Banks - Southeast industry, which is currently ranked in the bottom 29% of over 250 Zacks industries [10]. - The company’s shares have declined approximately 6.2% since the beginning of the year, contrasting with the S&P 500's gain of 17.2% [8].

Core Insights - Southern First Bancshares, Inc. reported solid financial performance for the second quarter of 2024, with net income of $3.0 million and diluted earnings per share of $0.37, reflecting an increase from the previous quarter and year [7][24][27]. Financial Performance - Total interest income for Q2 2024 was $50.5 million, an increase of $2.2 million from Q1 2024, driven by higher interest income on loans and federal funds sold [9][30]. - Net interest income was $19.5 million for Q2 2024, up $883 thousand from Q1 2024, with a net interest margin of 1.98%, a four-basis point increase from the previous quarter [9][30][24]. - Noninterest income rose to $3.5 million in Q2 2024, compared to $2.7 million in Q1 2024, with mortgage banking income being the largest component [28][24]. Asset Quality - Nonperforming assets increased to $11.2 million, representing 0.27% of total assets, up from 0.09% in Q1 2024 [14][24]. - The allowance for credit losses was $40.2 million, or 1.11% of total loans, with net charge-offs of $1.0 million for Q2 2024 [32][24]. Balance Sheet - Total assets as of June 30, 2024, were approximately $4.1 billion, with total loans at $3.6 billion, a decrease of $21.2 million from Q1 2024 [13][24]. - Total deposits were $3.5 billion, a slight decrease of $812 thousand from the previous quarter [24][13]. Management Commentary - The CEO highlighted the company's focus on disciplined pricing and building a strong balance sheet, while also noting the addition of a new Chief Financial Officer to enhance the team's capabilities [16].

Financial Performance - Net income available to common shareholders for Q2 2024 was $2,999 thousand, an increase of 18.9% from $2,522 thousand in Q1 2024[3] - Total revenue for Q2 2024 reached $23,051 thousand, up 8.2% from $21,309 thousand in Q1 2024[3] - Net income for Q2 2024 was $3.0 million, or $0.37 per diluted share, an increase of $477 thousand from Q1 2024 and $541 thousand from Q2 2023[17] - Noninterest income rose to $3.5 million in Q2 2024, compared to $2.7 million in Q1 2024, with mortgage banking income at $1.9 million[18] - The effective tax rate was 23.3% in Q2 2024, down from 25.5% in Q1 2024[20] Interest Income and Margin - Net interest income for Q2 2024 was $19,528 thousand, an increase of 4.7% from $18,645 thousand in Q1 2024[4] - The net interest margin for Q2 2024 improved to 1.98%, a four-basis point increase from 1.94% in Q1 2024[7] - Net interest margin improved to 1.98% in Q2 2024, compared to 1.94% in Q1 2024[16] - The net interest spread for the second quarter of 2024 was 1.08%, compared to 1.05% in the previous quarter[21] Loans and Deposits - Total loans as of June 30, 2024, were $3,622,521 thousand, a slight decrease from $3,643,766 thousand in Q1 2024[3] - Total loans decreased by $21.2 million, or 2.35% annualized, to $3.6 billion in Q2 2024 compared to Q1 2024[16] - Total deposits stood at $3,459,869 thousand, a marginal decrease from $3,460,681 thousand in Q1 2024[3] - Total deposits were $3.5 billion in Q2 2024, a decrease of $812 thousand, or 0.09% annualized, from Q1 2024[16] Asset Quality - The provision for credit losses was $500 thousand in Q2 2024, compared to a reversal of $175 thousand in Q1 2024[4] - Nonperforming assets to total assets ratio increased to 0.27% in Q2 2024, up from 0.09% in Q1 2024[3] - Nonperforming assets increased to $11.2 million, representing 0.27% of total assets, up from 0.09% in Q1 2024[10] - The classified asset ratio increased to 4.22% in Q2 2024 from 3.99% in Q1 2024[10] Expenses and Efficiency - Noninterest expense for Q2 2024 was $18,643 thousand, reflecting an increase of $543 thousand from Q1 2024[5] - The efficiency ratio improved to 80.87% in Q2 2024, down from 84.94% in Q1 2024[3] Balance Sheet and Assets - Total assets were $4.1 billion as of June 30, 2024, slightly up from $4.1 billion at the end of Q1 2024[8] - Total assets increased to $4,138.8 million as of June 30, 2024, compared to $4,018.1 million at the end of the previous quarter[21] - The company reported total liabilities of $3,090.1 million and shareholders' equity of $316.9 million for the quarter ended June 30, 2024[21] - The allowance for credit losses was $40.2 million, or 1.11% of total loans, consistent with the previous quarter's allowance of $40.4 million[24] Market Presence and Operations - Southern First Bancshares has consolidated assets of approximately $4.1 billion, indicating a stable financial position[32] - The company operates in 12 locations across South Carolina and North Carolina, as well as Atlanta, Georgia, indicating a strong market presence[32] - Southern First Bank is the second largest bank headquartered in South Carolina, highlighting its significant market share[32] - The common stock of Southern First Bancshares is traded on The NASDAQ Global Market under the symbol "SFST," providing liquidity for investors[32] - The bank has been providing financial services since 1999, showcasing its long-standing experience in the industry[32] Deposit Composition - Total interest-bearing deposits, including NOW accounts and savings, reflect a diverse deposit base, essential for funding operations[31] - Money market accounts decreased to $1,562,786 thousand from $1,603,796 thousand, reflecting a decline of 2.0%[31] - Time deposits of less than $250,000 increased to $219,532 thousand, up 6.7% from $206,657 thousand in the previous quarter[31] - Time and out-of-market deposits of $250,000 and over rose to $671,646 thousand, an increase of 2.0% from $653,208 thousand[31] Future Outlook - The company anticipates continued competitive pressures and potential impacts from changes in interest rates and economic conditions[28]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission file number 000-27719 Southern First Bancshares, Inc. (Exact name of registrant as specified in its charter) South Carolina 58-2459561 ( ...