Earnings release
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Exhibit 99.1 Southern First Reports Second Quarter 2026 Results Greenville, South Carolina, July 21, 2026 – Southern First Bancshares, Inc. (NASDAQ: SFST) (Southern First), today announced its financial results for the three months ended June 30, 2026. Strong loan growth and continued margin expansion drove year-over-year net interest income growth of 28%. Net income was $11.2 million and diluted earnings per share was $1.20, representing a $0.39, or 48% increase over the second quarter of 2025, and a slight increase from the first quarter of 2026. Return on average assets was 0.96%, up 33 basis points over the second quarter of last year, and tangible common equity to assets was 9.62%, up 160 basis points from the second quarter of 2025. Key asset quality metrics were consistent both on a linked quarter and year-over-year basis. Net charge-offs were approximately $96 thousand, or 0.01% of average loans, annualized, and nonperforming assets were 0.27% of total assets. Provision for credit losses decreased by $275 thousand from the prior quarter, and the allowance for credit losses represented 1.10% of loans. “Our second quarter 2026 results continue to show impressive momentum. We increased retail client deposits by $184 million in the second quarter, representing a 22% annualized growth rate, and our loan portfolio grew at an annualized rate of 9% during the quarter. Our efficient business model, vibrant markets, and focus on organic growth are creating value for our clients and our shareholders. Our second quarter net income was $11.2 million, a 70% increase from the same quarter last year and a 13% increase over the first quarter of 2026. We also strengthened our capital position by raising gross proceeds of $65.2 million and issuing 1.2 million additional common shares earlier in the quarter to support our strong growth expectations. As planned, we redeemed a portion of our subordinated notes, which were subject to phase-out from regulatory capital treatment and carried a higher interest rate. We are proud of our team and our accomplishments this quarter, which we believe positions us for continued success in the second half of 2026,” stated Art Seaver, Chief Executive Officer. Financial Highlights – Second Quarter 2026: Earnings · Diluted earnings per common share was $1.20, up $0.39 or 48% compared to the second quarter of 2025 and up by $0.01 from the first quarter of 2026 · Net income improved to $11.2 million, a $4.6 million increase or 70% compared to the second quarter of 2025 and a $1.3 million increase or 13%, compared to the first quarter of 2026 · Total revenue was $35.9 million, an increase of $7.2 million or 25% year-over-year and $2.1 million on a linked quarter basis · Net interest income improved by $7.1 million or 28% year-over-year driven primarily by new loan volume · Net interest margin was 2.87%, a 37-basis point increase from 2.50% for the second quarter of 2025 and a one basis point decrease from the first quarter of 2026, which included a one-time increase in interest income from the repayment of a $5.1 million nonperforming loan · Noninterest income was $3.5 million compared to $3.3 million for the second quarter of 2025 · Service fees on deposit accounts increased 53% compared to the second quarter of 2025 and 15% from last quarter due in part to an increased focus on treasury management services · Noninterest expense to average assets was 1.75%, compared to 1.86% for the second quarter of 2025 · Return on average equity was 10.28%, compared to 7.71% for the second quarter of 2025 · Return on average assets was 0.96%, compared to 0.63% for the second quarter of 2025 Balance Sheet · Total loans were $4.0 billion, up $88 million or 9% (annualized) from the first quarter of 2026 · Retail deposits were $3.6 billion, up $184 million or 22% (annualized) from the first quarter of 2026 · Wholesale deposits were reduced by $181.3 million, or 32% from the second quarter of 2025 and $122.3 million or 98% (annualized) from the first quarter of 2026 · Book value per common share was $47.77, an increase of 15% (annualized) from the first quarter of 2026 · Tangible common equity (TCE) ratio was 9.62%, up 133 basis points on a linked quarter basis and up from 8.02% for the second quarter of 2025
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· Common Equity Tier 1 ratio (CET1) was 12.81%, up 178 basis points from the first quarter of 2026 and up from 10.71% for the second quarter 2025 · Book value per share, tangible common equity ratio and Common Equity Tier 1 ratio were each positively affected by our recent capital raise of $65.2 million Asset Quality · Nonperforming assets to total assets were 0.27%, compared to 0.26% for the linked quarter, while accruing loans 30 days or more past due to total loans decreased to 0.10%, compared to 0.20% for the first quarter · Classified assets/Tier 1 capital plus allowance for credit losses was 3.15% compared to 3.25% for the linked quarter end · Provision for credit losses was $1.0 million and includes a $950 thousand provision for loan losses and a $75 thousand provision for unfunded commitments driven by new loan growth; allowance for credit losses to total loans remained at 1.10% for the quarter · Net charge-offs were 0.01% as a percentage of average loans on an annualized basis SELECTED FINANCIAL DATA Quarter Ended June 30 March 31 December 31 September 30 June 30 2Q26 vs 2Q25 2026 2026 2025 2025 2025 $ Change % Change Income Statement Summary ($ in thousands): Net interest income $ 32,370 30,259 28,744 27,529 25,295 7,075 28.0% Noninterest income 3,508 3,540 3,090 3,600 3,334 174 5.2% Total Revenue 35,878 33,799 31,834 31,129 28,629 7,249 25.3% Provision for credit losses 1,025 1,300 650 850 700 325 46.4% Noninterest expense 20,393 20,015 18,416 18,946 19,336 1,057 5.5% Income before income tax expense 14,460 12,484 12,768 11,333 8,593 5,867 68.3% Income tax expense 3,265 2,597 2,911 2,671 2,012 1,253 62.3% Net income available to common shareholders 11,195 9,887 9,857 8,662 6,581 4,614 70.1% Earnings ($ in thousands, except per share data): Earnings per common share, diluted 1.20 1.19 1.20 1.06 0.81 0.39 48.2% Net interest margin (tax-equivalent)(1) 2.87% 2.88% 2.72% 2.62% 2.50% -— -— Return on average assets(2) 0.96% 0.91% 0.90% 0.80% 0.63% -— -— Return on average equity(2) 10.28% 10.67% 10.77% 9.78% 7.71% -— -— Efficiency ratio(3) 56.84% 59.22% 57.85% 60.86% 67.54% -— -— Noninterest expense to average assets (2) 1.75% 1.84% 1.68% 1.74% 1.86% -— -— Balance Sheet ($ in thousands): Total loans(4) $ 4,030,255 3,942,219 3,845,124 3,789,021 3,746,841 283,414 7.6% Total deposits 3,935,452 3,873,455 3,716,803 3,676,417 3,636,329 299,123 8.2% Retail deposits(5) 3,556,045 3,371,721 3,163,914 3,108,411 3,075,631 480,414 15.6% Total assets 4,700,171 4,578,402 4,403,494 4,358,589 4,308,067 392,104 9.1% Book value per common share 47.77 46.00 44.89 43.51 42.23 5.54 13.1% Loans to deposits 102.41% 101.78% 103.45% 103.06% 103.04% -— -— Holding Company Capital Ratios(6): Total risk-based capital ratio 14.42% 12.83% 12.89% 12.79% 12.63% -— -— Tier 1 risk-based capital ratio 13.19% 11.40% 11.44% 11.26% 11.11% -— -— Leverage ratio 10.11% 9.05% 8.93% 8.72% 8.73% -— -— Common Equity Tier 1 ratio(7) 12.82% 11.03% 11.06% 10.88% 10.71% -— -— Tangible common equity(8) 9.62% 8.29% 8.37% 8.18% 8.02% -— -— Asset Quality Ratios: Nonperforming assets/total assets 0.27% 0.26% 0.32% 0.27% 0.27% -— -— Classified assets/Tier 1 capital plus allowance for credit losses 3.15% 3.25% 4.28% 3.97% 4.35% -— -— Accruing loans 30 days or more past due/loans(4) 0.10% 0.20% 0.14% 0.18% 0.14% -— -— Net charge-offs (recoveries)/average loans(4) (YTD annualized) 0.01% 0.01% 0.00% 0.00% 0.00% -— -— Allowance for credit losses/loans(4) 1.10% 1.10% 1.10% 1.10% 1.10% -— -— Allowance for credit losses/nonaccrual loans 395.41% 378.22% 305.65% 364.50% 362.35% -— -— 2
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INCOME STATEMENTS – Unaudited Quarter Ended Jun 30 Mar 31 Dec 31 Sept 30 Jun 30 2Q26 vs 2Q25 (in thousands, except per share data) 2026 2026 2025 2025 2025 $ Change % Change Interest income Loans $ 53,077 51,257 51,069 50,999 48,992 4,085 8.3% Investment securities 1,504 1,399 1,268 1,342 1,357 147 10.8% Federal funds sold 3,550 1,955 2,193 2,645 1,969 1,581 80.3% Total interest income 58,131 54,611 54,530 54,986 52,318 5,813 11.1% Interest expense Deposits 23,094 21,697 23,052 24,703 24,300 (1,206) (5.0%) Borrowings 2,667 2,655 2,734 2,754 2,723 (56) (2.1%) Total interest expense 25,761 24,352 25,786 27,457 27,023 (1,262) (4.7%) Net interest income 32,370 30,259 28,744 27,529 25,295 7,075 28.0% Provision for credit losses 1,025 1,300 650 850 700 325 46.4% Net interest income after provision for credit losses 31,345 28,959 28,094 26,679 24,595 6,750 27.4% Noninterest income Mortgage banking income 1,323 1,493 1,689 1,600 1,569 (246) (15.7%) Service fees on deposit accounts 866 756 634 625 567 299 52.7% ATM and debit card income 651 588 638 601 586 65 11.1% Income from bank owned life insurance 457 446 450 439 413 44 10.7% Loss on sale of securities - - (515) - - - 0.0% Other income 211 257 194 335 199 12 6.0% Total noninterest income 3,508 3,540 3,090 3,600 3,334 174 5.2% Noninterest expense Compensation and benefits 12,252 11,980 10,529 11,299 11,674 578 5.0% Occupancy 2,551 2,490 2,465 2,447 2,523 28 1.1% Outside service and data processing costs 2,416 2,267 2,144 2,158 2,189 227 10.4% Insurance 858 892 994 961 910 (52) (5.7%) Professional fees 782 675 732 605 609 173 28.4% Marketing 423 399 346 412 397 26 6.5% Other 1,111 1,312 1,206 1,064 1,034 77 7.4% Total noninterest expenses 20,393 20,015 18,416 18,946 19,336 1,057 5.5% Income before provision for income taxes 14,460 12,484 12,768 11,333 8,593 5,867 68.3% Income tax expense 3,265 2,597 2,911 2,671 2,012 1,253 62.3% Net income available to common shareholders $ 11,195 9,887 9,857 8,662 6,581 4,614 70.1% Earnings per common share – Basic $ 1.22 1.21 1.22 1.07 0.81 0.41 50.6% Earnings per common share – Diluted 1.20 1.19 1.20 1.06 0.81 0.39 48.2% Basic weighted average common shares 9,185 8,163 8,106 8,091 8,090 1,095 13.5% Diluted weighted average common shares 9,319 8,293 8,229 8,176 8,124 1,195 14.7% [Footnotes to table located on page 6] 3
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NET INTEREST INCOME AND MARGIN - Unaudited For the Three Months Ended June 30, 2026 March 31, 2026 June 30, 2025 (dollars in thousands) Average Balance Income/ Expense Yield/ Rate(2) Average Balance Income/ Expense Yield/ Rate(2) Average Balance Income/ Expense Yield/ Rate(2) Interest-earning assets Federal funds sold and interest-bearing deposits $ 384,694 $ 3,550 3.70% $ 211,039 $ 1,956 3.76% $ 179,095 $ 1,969 4.41% Investment securities, taxable 147,886 1,473 4.00% 141,309 1,368 3.93% 141,898 1,315 3.72% Investment securities, nontaxable(1) 6,283 40 2.57% 6,332 40 2.58% 7,740 55 2.83% Loans(9) 3,978,639 53,077 5.35% 3,899,002 51,257 5.33% 3,724,064 48,992 5.28% Total interest-earning assets 4,517,502 58,140 5.16% 4,257,682 54,621 5.20% 4,052,797 52,331 5.18% Noninterest-earning assets 157,905 156,466 154,051 Total assets $4,675,407 $ 4,414,148 $4,206,848 Interest-bearing liabilities NOW accounts $ 500,978 1,738 1.39% $ 421,527 1,102 1.06% $ 331,811 752 0.91% Savings & money market 1,752,548 12,908 2.95% 1,649,248 11,819 2.91% 1,566,345 13,398 3.43% Time deposits 871,563 8,448 3.89% 895,101 8,776 3.98% 942,880 10,150 4.32% Total interest-bearing deposits 3,125,089 23,094 2.96% 2,965,876 21,697 2.97% 2,841,036 24,300 3.43% FHLB advances and other borrowings 240,000 2,252 3.76% 240,000 2,245 3.79% 240,000 2,270 3.79% Subordinated debentures 24,777 415 6.72% 24,903 411 6.69% 24,903 453 7.30% Total interest-bearing liabilities 3,389,866 25,761 3.05% 3,230,779 24,353 3.06% 3,105,939 27,023 3.49% Noninterest-bearing liabilities 848,704 807,686 758,626 Shareholders’ equity 436,837 375,683 342,283 Total liabilities and shareholders’ equity $ 4,675,407 $ 4,414,148 $4,206,848 Net interest spread 2.11% 2.15% 1.69% Net interest income (tax equivalent) / margin $ 32,379 2.87% $ 30,268 2.88% $ 25,308 2.50% Less: tax-equivalent adjustment(1) 9 9 13 Net interest income $ 32,370 $ 30,259 $ 25,295 [Footnotes to table located on page 6] 4
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BALANCE SHEETS - Unaudited Ending Balance Jun 30 Mar 31 Dec 31 Sept 30 Jun 30 2Q26 vs 2Q25 (in thousands, except per share data) 2026 2026 2025 2025 2025 $ Change % Change Assets Cash and cash equivalents: Cash and due from banks $ 30,102 32,723 27,821 24,600 25,184 4,918 19.5% Federal funds sold 259,049 228,235 183,473 178,534 180,834 78,215 43.3% Interest-bearing deposits with banks 72,483 81,818 58,289 79,769 65,014 7,469 11.5% Total cash and cash equivalents 361,634 342,776 269,583 282,903 271,032 90,602 33.4% Investment securities: Investment securities available for sale 144,388 124,224 127,730 131,040 128,867 15,521 12.0% Other investments 20,484 20,377 20,063 20,066 19,906 578 2.9% Total investment securities 164,872 144,601 147,793 151,106 148,773 16,099 10.8% Mortgage loans held for sale 8,594 13,723 11,569 6,906 10,739 (2,145) (20.0%) Loans (4) 4,030,255 3,942,219 3,845,124 3,789,021 3,746,841 283,414 7.6% Less allowance for credit losses (44,232) (43,378) (42,280) (41,799) (41,285) (2,947) 7.1% Loans, net 3,986,023 3,898,841 3,802,844 3,747,222 3,705,556 280,467 7.6% Bank owned life insurance 56,677 56,221 55,775 55,324 54,886 1,792 3.3% Property and equipment, net 88,006 88,580 83,465 84,586 85,921 2,085 2.4% Deferred income taxes 13,946 13,812 13,702 12,657 12,971 975 7.5% Other assets 20,419 19,848 18,763 17,885 18,189 2,229 12.3% Total assets $ 4,700,171 4,578,402 4,403,494 4,358,589 4,308,067 392,104 9.1% Liabilities Deposits $ 3,935,452 3,873,455 3,716,803 3,676,417 3,636,329 299,123 8.2% FHLB Advances 240,000 240,000 240,000 240,000 240,000 - 0.0% Subordinated debentures 13,403 24,903 24,903 24,903 24,903 (11,500) (46.2%) Other liabilities 59,048 60,631 53,131 60,921 61,373 (2,325) (3.8%) Total liabilities 4,247,903 4,198,989 4,034,837 4,002,241 3,962,605 285,298 7.2% Shareholders’ equity Preferred stock - $.01 par value; 10,000,000 shares authorized - - - - - - - Common Stock - $.01 par value; 10,000,000 shares authorized 95 82 82 82 82 13 15.9% Nonvested restricted stock (912) (1,302) (1,338) (1,929) (2,774) 1,862 (67.1%) Additional paid-in capital 188,932 127,168 125,924 125,035 124,839 64,093 51.3% Accumulated other comprehensive loss (8,372) (7,865) (7,454) (8,426) (9,609) 1,237 (12.9%) Retained earnings 272,525 261,330 251,443 241,586 232,924 39,601 17.0% Total shareholders’ equity 452,268 379,413 368,657 356,348 345,462 106,806 30.9% Total liabilities and shareholders’ equity $ 4,700,171 4,578,402 4,403,494 4,358,589 4,308,067 392,104 9.1% Common Stock Book value per common share $ 47.77 46.00 44.89 43.51 42.23 5.54 13.1% Stock price: High 61.51 61.08 55.50 45.54 38.51 23.00 59.7% Low 54.95 51.26 41.15 38.74 30.61 24.34 79.5% Period end 61.10 54.50 51.52 44.12 38.03 23.07 60.7% Common shares outstanding 9,468 8,248 8,213 8,189 8,181 1,287 15.7% [Footnotes to table located on page 6] 5
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ASSET QUALITY MEASURES - Unaudited Quarter Ended June 30 March 31 December 31 September 30 June 30 (dollars in thousands) 2026 2026 2025 2025 2025 Nonperforming Assets Commercial Owner occupied RE $ 2,667 2,317 259 262 - Non-owner occupied RE 2,030 1,712 6,917 6,911 6,941 Commercial business 1,330 909 189 195 717 Consumer Real estate 4,805 5,786 5,763 3,394 3,028 Home equity 354 745 705 705 708 Total nonaccrual loans 11,186 11,469 13,833 11,467 11,394 Other real estate owned 1,375 475 275 275 275 Total nonperforming assets $ 12,561 11,944 14,108 11,742 11,669 Nonperforming assets as a percentage of: Total assets 0.27% 0.26% 0.32% 0.27% 0.27% Total loans 0.31% 0.30% 0.37% 0.31% 0.31% Classified assets/Tier 1 capital plus allowance for credit losses 3.15% 3.25% 4.28% 3.97% 4.35% Accruing loans 30 days or more past due/loans(4) 0.10% 0.20% 0.14% 0.18% 0.14% Quarter Ended June 30 March 31 December 31 September 30 June 30 (dollars in thousands) 2026 2026 2025 2025 2025 Allowance for Credit Losses Balance, beginning of period $ 43,378 42,280 41,799 41,285 40,687 Loans charged-off (155) (78) (150) (55) (68) Recoveries of loans previously charged-off 59 26 81 69 16 Net loans (charged-off) recovered (96) (52) (69) 14 (52) Provision for credit losses 950 1,150 550 500 650 Balance, end of period $ 44,232 43,378 42,280 41,799 41,285 Allowance for credit losses to gross loans 1.10% 1.10% 1.10% 1.10% 1.10% Allowance for credit losses to nonaccrual loans 395.41% 378.22% 305.65% 364.50% 362.35% Net charge-offs (recoveries) to average loans QTD (annualized) 0.01% 0.01% 0.01% 0.00% 0.01% [Footnotes to table located on page 6] 6
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LOAN COMPOSITION - Unaudited Quarter Ended Jun 30 Mar 31 Dec 31 Sept 30 Jun 30 2Q26 vs 2Q25 (dollars in thousands) 2026 2026 2025 2025 2025 $ Change % Change Commercial Owner occupied RE $ 755,419 759,602 736,979 705,383 686,424 68,995 10.1% Non-owner occupied RE 967,698 950,696 956,812 943,304 939,163 28,535 3.0% Construction 66,105 69,463 63,666 71,928 68,421 (2,316) (3.4%) Business 713,017 677,742 619,667 604,411 589,661 123,356 20.9% Total commercial loans 2,502,239 2,457,503 2,377,124 2,325,026 2,283,669 218,570 9.6% Consumer Real estate 1,167,282 1,148,129 1,153,285 1,159,693 1,164,187 3,095 0.3% Home equity 273,017 262,530 248,685 239,996 234,608 38,409 16.4% Construction 36,371 33,879 24,997 25,842 25,210 11,161 44.3% Other 51,346 40,178 41,033 38,464 39,167 12,179 31.1% Total consumer loans 1,528,016 1,484,716 1,468,000 1,463,995 1,463,172 64,844 4.4% Total gross loans, net of deferred fees 4,030,255 3,942,219 3,845,124 3,789,021 3,746,841 283,414 7.6% Less—allowance for credit losses (44,232) (43,378) (42,280) (41,799) (41,285) (2,947) 7.1% Total loans, net $ 3,986,023 3,898,841 3,802,844 3,747,222 3,705,556 280,467 7.6% Yield on average loans 5.35% 5.33% 5.29% 5.35% 5.28% -— -— DEPOSIT COMPOSITION - Unaudited Quarter Ended Jun 30 Mar 31 Dec 31 Sept 30 Jun 30 2Q26 vs 2Q25 (dollars in thousands) 2026 2026 2025 2025 2025 $ Change % Change Non-interest bearing $ 799,246 799,692 732,287 736,518 761,492 37,754 5.0% Interest bearing: NOW accounts 538,443 495,657 423,270 343,615 341,903 196,540 57.5% Money market accounts 1,765,697 1,652,125 1,573,039 1,572,738 1,537,400 228,297 14.8% Savings 29,460 30,332 29,470 29,381 32,334 (2,874) (8.9%) Time deposits, less than $250,000 175,971 170,496 180,783 202,353 194,064 (18,093) (9.3%) Time deposits, $250,000 and over(10) 626,635 725,153 777,954 791,812 769,136 (142,501) (18.5%) Total deposits $ 3,935,452 3,873,455 3,716,803 3,676,417 3,636,329 299,123 8.2% Total retail deposits 3,556,045 3,371,721 3,163,914 3,108,411 3,075,631 480,414 15.6% Total wholesale deposits 379,407 501,734 552,889 568,006 560,697 (181,290) (32.3%) Cost of average deposits 2.37% 2.37% 2.50% 2.69% 2.75% -— -— Cost of average retail deposits 2.11% 2.06% 2.18% 2.36% 2.42% -— -— Loans to deposits 102.41% 101.78% 103.45% 103.06% 103.04% -— -— Footnotes to tables: (1) The tax-equivalent adjustment to net interest income adjusts the yield for assets earning tax-exempt income to a comparable yield on a taxable basis. (2) Annualized for the respective three-month period. (3) Noninterest expense divided by the sum of net interest income and noninterest income. (4) Excludes mortgage loans held for sale. (5) Excludes out of market (wholesale) deposits totaling $379.4 million. (6) June 30, 2026 ratios are preliminary. (7) The Common Equity Tier 1 ratio is calculated as the sum of common equity divided by risk-weighted assets. (8) The tangible common equity ratio is calculated as total equity less preferred stock divided by total assets. (9) Includes mortgage loans held for sale. (10) Includes out of market deposits ABOUT SOUTHERN FIRST BANCSHARES Southern First Bancshares, Inc., Greenville, South Carolina is a registered bank holding company incorporated under the laws of South Carolina. The company’s wholly owned subsidiary, Southern First Bank, is the second largest bank headquartered in South Carolina. Southern First Bank has been providing financial services since 1999 and now operates in 12 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. Southern First Bancshares has consolidated assets of approximately $4.7 billion, and its common stock is traded on The NASDAQ Global Market under the symbol “SFST.” More information can be found at www.southernfirst.com. 7
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FORWARD-LOOKING STATEMENTS Certain statements in this news release 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, and are thus prospective. Such forward-looking statements are identified by words such as “believe,” “expect,” “anticipate,” “estimate,” “preliminary”, “intend,” “plan,” “target,” “continue,” “lasting,” 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; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for credit loss, the rates of loan and deposit growth as well as pricing of each product, 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 changes to Congress and the office of the President 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 continue to have a negative impact on the company; (7) changes in interest rates, which may continue to affect the company’s net income, interest expense, prepayment penalty income, mortgage banking income, and other future cash flows, or the market value of the company’s assets, including its investment securities; (8) trade wars, government shutdowns, or a potential recession which may cause adverse risk to the overall economy, and could indirectly pose challenges to our clients and to our business; (9) any increase in FDIC assessments which have increased and may continue to increase our cost of doing business; and (10) 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 are 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. MEDIA CONTACT: ART SEAVER 864-679-9010 FINANCIAL CONTACT: CHRIS ZYCH 864-679-9070 WEB SITE: www.southernfirst.com SOURCE: Southern First Bancshares, Inc. 8