Material Agreement, Financial Obligation (Form 8-K)

ITEM 1.01 Entry into a Material Definitive Agreement.

On March 5, 2026, Southern First Bancshares, Inc. (the "Company") entered into a Modification of Loan (the "Modification Agreement") amending both the Loan Agreement ("Loan Agreement") and the Promissory Note (the "Promissory Note"), each dated as of December 28, 2023, by and between the Company and TIB, National Association (the "Lender"). The Loan Agreement and Promissory Note provide for a revolving multiple advances loan of up to an aggregate principal amount of $15.0 million. Reference is made to Exhibits 10.1 and 10.2 to the Company's Current Report on Form 8-K filed January 3, 2024, which are incorporated herein by reference, for a further description of the Loan Agreement and Promissory Note with the Lender. The definition of capitalized terms, if not so defined herein, may be found in the Modification Agreement.

The Modification Agreement extends the revolving line of credit to a maturity date of March 5, 2027. The Company also agrees under the Modification Agreement to pay the Lender a Non-Usage Fee of 0.25%, which fee shall be $37,500 less the interest accrued and paid under the Note, and collected on the Maturity Date. On March 10, 2026, there was a zero principal balance outstanding borrowed under the Promissory Note.

The description contained herein of the Modification Agreement does not purport to be complete and is qualified in its entirety by reference to the terms of such document.

ITEM 2.03 Creation of a Direct Financial Obligation.

The relevant disclosure set forth in Item 1.01 above is incorporated herein by reference in response to this Item 2.03.