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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K > Annual Report Pursuant To Section 13 Or 15 ( d ) of The Securities Exchange Act of 1934 For The Fiscal Year December 31 , 2020 . Or Transition Report Pursuant To Section 13 Or 15 ( d ) of The Securities Exchange Act of 1934 For the Transition Period from to Commission file number 000-27719 Southern First Bancshares , Inc. ( Exact name of registrant as specified in its charter ) South Carolina ( State of Incorporation ) 58-2459561 ( I.R.S. Employer Identification No. ) 100 Verdae Boulevard , Greenville , SC ( Address of principal executive offices ) Title of class Common Stock 864-679-9000 ( Telephone Number ) 29607 ( Zip Code ) Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol SFST Name of each exchange on which registered The NASDAQ Global Market Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes □ No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Exchange Act . Yes □ No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes > No □ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S - T ( § 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit and post such files ) . Yes No □ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S - K is not contained herein , and will not be contained , to the best of registrant's knowledge , in definitive proxy or information statements incorporated by reference in Part III of this Form 10 - K or any amendment to this Form 10 - K . Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or emerging growth company . See definitions of “ large accelerated filer , ” “ accelerated filer , " " smaller reporting company , ” and “ emerging growth company " in Rule 12b - 2 of the Exchange Act . Large accelerated filer Accelerated filer & Non - accelerated filer Smaller reporting company & Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Yes No □ Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes □ No The aggregate market value of the common equity held by non - affiliates of the registrant as of June 30 , 2020 ( based on the average bid and ask price of the Common Stock as quoted on the NASDAQ Global Market on June 30 , 2020 ) , was $ 200,936,188 . 7,797,098 shares of the registrant's common stock were outstanding as of February 22 , 2021 . DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's Proxy Statement relating to the Annual Meeting of Shareholders to be held on May 18 , 2021 are incorporated by reference into Part III of this Annual Report on Form 10 - K where indicated .