Southern First Bancshares, Inc. Announces Closing of Public Offering of Common Stock

Southern First Bancshares, Inc. has successfully completed its underwritten public offering, raising approximately $65.2 million through the sale of 1,207,500 shares of common stock. The offering, which closed on April 17, 2026, included 157,500 shares sold pursuant to the underwriters' option to purchase additional shares, exercised in full at a price of $54.00 per share. Piper Sandler & Co. acted as the sole book-running manager for the offering, with Keefe, Bruyette & Woods serving as co-manager.

Southern First Bancshares, based in Greenville, South Carolina, is a registered bank holding company and operates its banking services through its wholly owned subsidiary, Southern First Bank. Established in 1999, Southern First Bank has grown to become the second largest bank headquartered in South Carolina, with a network of 12 locations across key markets including Greenville, Columbia, Charleston, and extending into North Carolina and Georgia. The company boasts consolidated assets of approximately $4.4 billion and is publicly traded on the NASDAQ under the symbol "SFST."

The proceeds from this offering are earmarked for various corporate purposes, which may include supporting organic growth initiatives, bolstering the capital of its bank subsidiary, and addressing outstanding indebtedness, including subordinated debt. This strategic move aligns with the bank's ongoing efforts to enhance its operational capabilities and expand its market presence in a competitive financial services landscape.

The financial services sector has been experiencing significant shifts, with banks increasingly focusing on digital transformation and customer-centric services. Southern First Bancshares' capital raise comes at a time when many financial institutions are navigating challenges such as rising interest rates and evolving regulatory environments. By securing additional capital, Southern First Bancshares positions itself to capitalize on growth opportunities and strengthen its competitive edge in the regional banking market.

Looking ahead, the successful completion of this IPO reflects a positive sentiment in the capital markets for financial institutions, particularly those with solid growth trajectories and strong regional footprints. As Southern First Bancshares deploys the proceeds from this offering, its ability to adapt to market dynamics and enhance shareholder value will be closely monitored by investors and analysts alike. The broader implications of this transaction may signal a trend of increased capital-raising activities among banks aiming to fortify their balance sheets and invest in future growth amidst a changing economic landscape.