Southern First Bancshares buys back remaining series T TARP preferreds

By Jennifer Chiou

New York, Dec. 16 – Southern First Bancshares Inc. announced that it has completed the repurchase of its remaining series T preferred stock originally issued to the U.S. Department of the Treasury under the CPP/TARP program.

According to an 8-K filing with the Securities and Exchange Commission, the company repurchased 11,242 shares at $1,000 par value from third-party investors who bought the shares on July 3, 2012 in a Dutch auction conducted by the Treasury.

Southern First is a Greenville, S.C.-based bank.

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