SOUTHERN FIRST BANCSHARES INC FILES (8-K) Disclosing Other Events

Item 8.01 Other Events

On March 16, 2022, Southern First Bank (the "Bank"), the wholly-owned bank
subsidiary of Southern First Bancshares, Inc. (the "Company"), received a
Community Reinvestment Act ("CRA") rating from the Federal Deposit Insurance
Corporation (the "FDIC") of "Needs to Improve" for the period February 12, 2018
to March 29, 2021. Additional information on CRA ratings can be found on the
FDIC website www.fdic.gov.

Commenting on the CRA rating, Chief Executive Officer, Art Seaver said, "We are
proud of our efforts to serve the banking and lending needs of the communities
we serve and do not believe this CRA rating reflects the positive impact we had
on families and businesses across our markets during the review period. Southern
First has already made significant headway in the market identified by our
regulator and remains committed to serving each of our communities now and in
the future."

FORWARD-LOOKING STATEMENTS

Certain statements in this report contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995, such as
statements relating to future plans and expectations, anticipated future
operating and financial performance, business strategies, regulatory and
competitive outlook, and plans and objectives of management for future
operations, and are thus prospective. Such forward-looking statements are
identified by words such as "may," "could," "believe," "expect," "anticipate,"
"estimate," "intend," "continue," "plan," "target," "preliminary," and
"project," as well as similar expressions. Such statements are subject to risks,
uncertainties, and other factors which could cause actual results to differ
materially from future results expressed or implied by such forward-looking
statements. Although we believe that the assumptions underlying the
forward-looking statements are reasonable, any of the assumptions could prove to
be inaccurate. Therefore, we can give no assurance that the results contemplated
in the forward-looking statements will be realized. The inclusion of this
forward-looking information should not be construed as a representation by our
company or any person that the future events, plans, or expectations
contemplated by our company will be achieved.

The following factors, among others, could cause actual results to differ
materially from the anticipated results or other expectations expressed in the
forward-looking statements: (1) competitive pressures among depository and other
financial institutions may increase significantly and have an effect on pricing,
spending, third-party relationships and revenues; (2) the strength of the United
States economy in general and the strength of the local economies in which the
company conducts operations may be different than expected, including, but not
limited to, due to the negative impacts and disruptions resulting from the
national political turmoil as well as continuing impact of the novel
coronavirus, or COVID-19, on the economies and communities the company serves,
which may have an adverse impact on the company's business, operations and
performance, and could have a negative impact on the company's credit portfolio,
share price, borrowers, and on the economy as a whole, both domestically and
globally; (3) the rate of delinquencies and amounts of charge-offs, the level of
allowance for loan loss, the rates of loan growth, or adverse changes in asset
quality in our loan portfolio, which may result in increased credit risk-related
losses and expenses; (4) changes in legislation, regulation, policies, or
administrative practices, whether by judicial, governmental, or legislative
action, including, but not limited to, changes affecting oversight of the
financial services industry or consumer protection; (5) the impact of the
policies of the U.S. presidential administration and Congress on the regulatory
landscape, and capital markets; (6) adverse conditions in the stock market, the
public debt market and other capital markets (including changes in interest rate
conditions) could have a negative impact on the company; (7) changes in interest
rates, which may affect the company's net income, prepayment penalty income,
mortgage banking income, and other future cash flows, or the market value of the
company's assets, including its investment securities; and (8) changes in
accounting principles, policies, practices, or guidelines. Additional factors
that could cause our results to differ materially from those described in the
forward-looking statements can be found in our reports (such as Annual Reports
on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K)
filed with the SEC and available at the SEC's Internet site
(http://www.sec.gov). All subsequent written and oral forward-looking statements
concerning the company or any person acting on its behalf is expressly qualified
in its entirety by the cautionary statements above. We do not undertake any
obligation to update any forward-looking statement to reflect circumstances or
events that occur after the date the forward-looking statements are made, except
as required by law.

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