---
schema_version: "secwatch.filing_event.v1"
accession: "0001206774-24-000008"
form_type: "8-K"
ticker: "SFST"
cik: "0001090009"
company_name: "SOUTHERN FIRST BANCSHARES INC"
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T04:29:55.640696+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Southern First Bancshares enters $15M revolving credit facility with TIB, replaces matured facility

## Summary
- Revolving loan of up to $15M; interest at WSJ Prime plus 0.25% per annum.
- Maturity 14 months from closing; interest-only payments quarterly.
- Loan secured by pledge of all capital stock of Southern First Bank subsidiary.
- Replaces a similar facility that matured on December 20, 2023.

## SEC filing metadata
- accession: 0001206774-24-000008
- form_type: 8-K
- ticker: SFST
- cik: 0001090009
- company_name: SOUTHERN FIRST BANCSHARES INC
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1090009/000120677424000008/0001206774-24-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1090009/000120677424000008/sfst4282901-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001206774-24-000008
- JSON: https://secwatch.observer/filing/0001206774-24-000008.json
- Plain text: https://secwatch.observer/filing/0001206774-24-000008.txt

## Key facts
- Debt Financings
  SOUTHERN FIRST BANCSHARES INC incurred revolving credit of $15,000,000 with TIB, National Association at The Wall Street Journal Prime Rate plus 0.25% per annum maturing 14 months from the closing date.
  - Instrument: revolving credit
  - Principal: $15,000,000
  - Counterparty: TIB, National Association
  - Rate: The Wall Street Journal Prime Rate plus 0.25% per annum
  - Maturity: 14 months from the closing date
  - Event: incurrence
  source text: On December 28, 2023, Southern First Bancshares, Inc. (the "Company") entered into a Loan Agreement (the "Loan Agreement") with TIB, National Association (the "Lender") providing for a revolving multiple advances loan of up to an aggregate principal amount of $15,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090009/000120677424000008/0001206774-24-000008-index.htm
- Material Agreements
  SOUTHERN FIRST BANCSHARES INC entered into Loan Agreement with TIB, National Association valued at $15,000,000 (effective 2023-12-28).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: TIB, National Association
  - Value: $15,000,000
  - Effective: 2023-12-28
  source text: On December 28, 2023, Southern First Bancshares, Inc. (the "Company") entered into a Loan Agreement (the "Loan Agreement") with TIB, National Association (the "Lender") providing for a revolving multiple advances loan of up to an aggregate principal amount of $15,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1090009/000120677424000008/0001206774-24-000008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.