Southern First Bancshares, Inc. (SFST) Announces $5M Share Buyback

The Board of Directors of Southern First Bancshares, Inc. (NASDAQ: SFST) announced the authorization for the repurchase of up to $5MM of capital, or approximately 2%, of the Company’s common stock under a share repurchase plan.

Under the repurchase plan, the Company may repurchase shares from time to time by means of, among other means, open market purchases and in solicited and unsolicited privately negotiated transactions. The actual means and timing of any purchases, quantity of purchased shares and prices will be, subject to certain limitations, at the discretion of management and will depend on a number of factors, including the market price of the Company’s common stock, share issuances under Company equity plans, general market and economic conditions, and applicable legal and regulatory requirements.

The Company’s management believes the repurchase plan, depending upon market and business conditions, may, among other things, provide capital management opportunities for the Company. The Company is not obligated to repurchase any such shares under the repurchase plan. The repurchase plan may be discontinued, suspended or restarted at any time; however, repurchases under the share repurchase program after March 22, 2026 would require additional Board of Directors and Federal Reserve approval.

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