SOUTHERN FIRST BANCSHARES INC (SFST): debt financing — Southern First extends $15M revolver to March 2027, drops ROAA covenant

SOUTHERN FIRST BANCSHARES INC

Modification of $15.0M revolving credit facility with TIB, National Association; maturity extended to March 5, 2027.
Quarterly interest payments due March 5, 2026 and each June, September, December, March thereafter.
Removed Return on Average Assets covenant; revised Debt Service Coverage Ratio to ≥1.25x measured annually.
Non-Usage Fee of 0.25% ($37,500 less interest accrued) payable on maturity; zero balance outstanding as of March 10, 2026.
All other loan terms, collateral pledges, and guarantees remain in full force.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SOUTHERN FIRST BANCSHARES INC amended revolving credit of up to an aggregate principal amount of $15.0 million with TIB, National Association maturing March 5, 2027.

Instrument: revolving credit
Principal: up to an aggregate principal amount of $15.0 million
Counterparty: TIB, National Association
Maturity: March 5, 2027
Event: amendment

Exact text from the filing

On March 5, 2026, Southern First Bancshares, Inc. (the “Company”) entered into a Modification of Loan (the “Modification Agreement”) amending both the Loan Agreement (“Loan Agreement”) and the Promissory Note

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SOUTHERN FIRST BANCSHARES INC amended Modification Agreement with TIB, National Association valued at up to an aggregate principal amount of $15.0 million (effective 2026-03-05).

Action: amendment
Agreement: credit facility
Counterparty: TIB, National Association
Value: up to an aggregate principal amount of $15.0 million
Effective: 2026-03-05

Exact text from the filing

On March 5, 2026, Southern First Bancshares, Inc. (the “Company”) entered into a Modification of Loan (the “Modification Agreement”) amending both the Loan Agreement (“Loan Agreement”) and the Promissory Note (the “Promissory Note”), each dated as of December 28, 2023, by and between the Company and TIB, National Association (the “Lender”).

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

SOUTHERN FIRST BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0001206774-26-000131

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.