ITEM 8.01. Other Events
On July 25, 2012, Southern First Bancshares, Inc. (the "Company") completed its
repurchase of the warrant (the "Warrant") to purchase 399,970.34 shares of
common stock of the Company that was issued to the US Treasury on February 27,
2009, as part of the Troubled Asset Relief Program ("TARP") Capital Purchase
Program. The Warrant was repurchased at a mutually agreed upon price of $1.1
million.
Following the settlement of the Warrant on July 25, 2012, the Treasury has
completely eliminated its equity stake in the Company through the TARP Capital
Purchase Program.
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