SOUTHERN FIRST BANCSHARES INC - FORM 8-K - July 26, 2012

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported)     July 26, 2012           

                Southern First Bancshares, Inc.                       

(Exact name of registrant as specified in its charter)

 

                  South Carolina                     

(State or other jurisdiction of incorporation)

 

                000-27719           

                58-2459561         

(Commission File Number)

(IRS Employer Identification No.)

 

100 Verdae Boulevard, Suite 100, Greenville, SC

                        29606                   

(Address of principal executive offices)

(Zip Code)

 

 

                   (864) 679-9000                

(Registrant's telephone number, including area code)

 

                  Not Applicable                         

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following

 provisions (see General Instruction A.2. below):

 

  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

 

  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

 

 

 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.

 

 

 

 

 

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

SOUTHERN FIRST BANCSHARES, INC.

 


 

 


By:     /s/ Michael D. Dowling
Name:     Michael D. Dowling
Title:       Chief Financial Officer


July 26, 2012


 

 

 

 

SOUTHERN FIRST BANCSHARES INC Reports