Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:14 AM
|This Slide: #370 of 581|
Slide #370. Southern First Bancshares, Inc. — Preferred Stock Offering
Southern First Bancshares, Inc. (NASDAQ:SFST)
Preferred Stock Offering Details:
Southern First Bancshares, Inc. (NASDAQ: SFST), the Company, announced today that it intends to commence a public offering of 1,200,000 shares of its common stock through a firm commitment underwritten offering. The Company intends to use the proceeds of the offering to repurchase all of its remaining outstanding shares of Series T Preferred Stock, and to use any remainder for general corporate purposes, including contributing a portion of the proceeds to Southern First Bank, the bank subsidiary of the Company, as additional capital to support organic growth.
Southern First Bancshares is a bank holding company. Through its subsidiary, Co. is engaged in the business of accepting demand deposits and savings deposits insured by the Federal Deposit Insurance Corporation, and providing commercial, consumer and mortgage loans to the general public. Co. provides a range of lending services, including real estate, commercial, and equity-line consumer loans to individuals and small- to medium-sized businesses and firms that are located in or conduct a substantial portion of their business in Co.'s market area. Co. also provides other bank services such as internet banking, cash management, safe deposit boxes, direct deposit, and automatic drafts.
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Buy (3.33 out of 4)
(ranked lower than approx. 62% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com