secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN FIRST BANCSHARES INC (SFST)
CIK:        0001090009
Form:       8-K
Filed at:   2026-03-10T23:59:59+00:00
Accession:  0001206774-26-000131
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southern First extends $15M revolver to March 2027, drops ROAA covenant
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1090009/000120677426000131/0001206774-26-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1090009/000120677426000131/sfst4606951-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-26-000131

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