Exhibit 99.1

Southern First Reports Results for First Quarter of 2018

Greenville, South Carolina, April 24, 2018 – Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, today reported net income available to common shareholders of $5.2 million, or $0.67 per diluted share, for the first quarter of 2018. In comparison, net income available to common shareholders was $3.1 million, or $0.46 per diluted share, for the first quarter of 2017.

“The first quarter of 2018 was simply outstanding as the Southern First team generated record earnings of $5.2 million. Our performance was highlighted by strong growth in new client relationships and retail deposits as well as excellent production by our mortgage team,” stated Art Seaver, the Company’s Chief Executive Officer. “We continue to add experienced bankers to our team, and we are excited to announce our expansion into the Greensboro, North Carolina market.”

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Operating Results
Net interest margin for the first quarter of 2018 was 3.63%, compared to 3.59% for the prior quarter and 3.61% for the first quarter of 2017. During the first quarter of 2018, our average interest-earning assets increased by $259.0 million, compared to the first quarter of 2017, while the yield on our interest-earning assets increased by ten basis points. In comparison, our average interest-bearing liabilities increased by $182.2 million during the first quarter of 2018, compared to the first quarter of 2017, with the respective cost increasing by twelve basis points.

Noninterest income was $2.4 million and $2.1 million for the three months ended March 31, 2018 and 2017, respectively. The increase in noninterest income during the three-month period ended March 31, 2018 relates primarily to an increase in mortgage banking revenue during the first quarter of 2018 as well as increases in income derived from bank owned life insurance and ATM/debit card income which is included in other income. Specifically, mortgage banking revenue was $1.3 million and $1.1 million for the three months ended March 31, 2018 and 2017, respectively.

Noninterest expense was $9.2 million and $8.4 million for the three months ended March 31, 2018 and 2017, respectively. The increase in noninterest expense during the three-month period ended March 31, 2018 relates primarily to increases in compensation and benefits, occupancy, and professional fees, partially offset by a decrease in other noninterest expenses. Included in noninterest expense are mortgage banking expenses of $964 thousand and $849 thousand for the three months ended March 31, 2018 and 2017, respectively.

During the first quarter of 2018, we recorded total credit costs of $506 thousand, including a $500 thousand provision for loan losses and $6 thousand of expenses related to the sale and management of other real estate owned. In addition, we had net charge-offs for the first quarter of 2018 of $171 thousand, or 0.05% of average loans, annualized. During the first quarter of 2017, our total credit costs were $513 thousand, including a $500 thousand provision for loan losses and $13 thousand of expenses related to the sale and management of other real estate owned. Net loan charge-offs for the first quarter of 2017 were $68 thousand, or 0.02% of average loans on an annual basis. Our allowance for loan losses was $15.9 million, or 1.09% of loans, at March 31, 2018 which provides approximately 218% coverage of nonaccrual loans, compared to $15.3 million, or 1.25% of loans, and approximately 247% coverage of nonaccrual loans at March 31, 2017.

Nonperforming assets were $7.5 million, or 0.43% of total assets, as of March 31, 2018. Comparatively, nonperforming assets were $6.8 million, or 0.47% of total assets, at March 31, 2017. Of the $7.5 million in total nonperforming assets as of March 31, 2018, nonperforming loans represent $7.3 million and other real estate owned represents $242 thousand. Classified assets improved to 9% of tier 1 capital plus the allowance for loan losses at March 31, 2018, compared to 12% at March 31, 2017.

Gross loans were $1.5 billion, excluding mortgage loans held for sale, as of March 31, 2018, compared to $1.2 billion at March 31, 2017. Core deposits, which exclude out-of-market deposits and time deposits of $250,000 or more, increased to $1.3 billion at March 31, 2018 compared to $1.0 billion at March 31, 2017.

Shareholders’ equity totaled $154.7 million as of March 31, 2018, compared to $149.7 million at December 31, 2017, and $113.6 million at March 31, 2017. As of March 31, 2018, our capital ratios continue to exceed the regulatory requirements for a “well capitalized” institution.

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Footnotes to tables:
(1) Total revenue is the sum of net interest income and noninterest income.
(2) 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.
(3) Annualized for the respective three month period.
(4) Noninterest expense divided by the sum of net interest income and noninterest income.
(5) Excludes mortgage loans held for sale.
(6) Excludes out of market deposits and time deposits greater than $250,000.
(7) March 31, 2018 ratios are preliminary.
(8) The common equity tier 1 ratio is calculated as the sum of common equity divided by risk-weighted assets.
(9) The tangible common equity ratio is calculated as total equity less preferred stock divided by total assets.
(10) Annualized for the respective three month period.
(11) Includes loans held for sale.

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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 third largest bank headquartered in South Carolina. Southern First Bancshares 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 Raleigh, North Carolina and Atlanta, Georgia. Southern First Bancshares has assets of approximately $1.7 billion and its common stock is traded in the NASDAQ Global Market under the symbol “SFST.” More information can be found at www.southernfirst.com.

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 “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” and “projects,” 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 we conduct operations may be different than expected resulting in, among other things, a deterioration in the credit quality or a reduced demand for credit, including the resultant effect on the company’s loan portfolio and allowance for loan losses; (3) the rate of delinquencies and amounts of charge-offs, the level of allowance for loan loss, the rates of loan growth, or adverse changes in asset quality in our loan portfolio, which may result in increased credit risk-related losses and expenses; (4) changes in the United States legal and regulatory framework; and (5) adverse conditions in the stock market, the public debt market and other capital markets (including changes in interest rate conditions) could have a negative impact on the company. 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 is 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.

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