Southern First Bancshares, Inc. (NASDAQ: SFST), the Company, announced today that on April 27, 2017 it priced its previously announced public offering of 700,000 shares of common stock at $32.75 per share for gross proceeds of $22.9 million. The Company expects to close the sale of the shares of common stock on or about May 2, 2017, subject to customary closing conditions. Sandler O'Neill + Partners, L.P. is the sole underwriter for the offering. The underwriter will have a 30-day option to purchase up to an additional 105,000 shares of common stock from the Company at the offering price.

The Company intends to use the proceeds of the offering to improve its capital structure, including by repaying its $10 million holding company line of credit, to fund future organic growth and for working capital and other general corporate purposes.

ABOUT SOUTHERN FIRST BANCSHARES, INC.

Southern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina and serves as the parent company to Southern First Bank. Southern First Bank operates in nine locations in the Greenville, Columbia, and Charleston markets of South Carolina along with one location in Raleigh, North Carolina. Southern First Bancshares, Inc. has assets of approximately $1.47 billion and its common stock is traded in The NASDAQ Global Market under the symbol SFST.