SOUTHERN FIRST APPOINTS ANDY BORRMANN AS CHIEF FINANCIAL OFFICER

Rhea-AI Summary

Southern First Bancshares, Inc. (NASDAQ: SFST) has announced the appointment of Andy Borrmann as Chief Financial Officer and Executive Vice President, effective April 3, 2023. Borrmann brings nearly 30 years of financial industry experience, having served as CFO at SouthCrest Bank and SouthCrest Financial Group. His background includes over a decade as a bank analyst at SunTrust Robinson Humphrey and Morgan Keegan. CEO Art Seaver praised Borrmann's adept management and strong investor relationships. Borrmann expressed enthusiasm for joining the institution, highlighting the "limitless" opportunities ahead for Southern First.

Positive

• Andy Borrmann brings nearly 30 years of financial experience, enhancing leadership.
• Strong investor relationships and balance management skills may improve growth prospects.

Negative

• Concerns about continuity and potential adjustment period for the new CFO.

GREENVILLE, S.C., April 3, 2023 /PRNewswire/ -- Southern First Bancshares, Inc. (NASDAQ: SFST), holding company for Southern First Bank, is pleased to announce the appointment of Andy Borrmann as Chief Financial Officer and Executive Vice President.

Borrmann joins Southern First with nearly 30 years of experience in the financial industry. After graduating from Arizona State University with a bachelor's degree in finance in 1996, Borrmann spent over a decade as a bank analyst for SunTrust Robinson Humphrey and Morgan Keegan reporting on regional and community banks. For the past eleven years, Borrmann has served as Chief Financial Officer of SouthCrest Bank and SouthCrest Financial Group and was named Chief Financial Officer and Chief Strategy Officer following their merger with Colony Bank.  

"Andy brings a terrific combination of experience as a bank CFO with strong investor relationships, solid skills in balance management, and terrific people skills that will complement the relationship culture of our bank," said Art Seaver, Chief Executive Officer.

"I am thrilled to be joining one of the top relationship focused banks in the Southeast. I believe the opportunities for Southern First are nearly limitless over the next decade, and I am excited to be part of the team that will help drive continued success into the future," commented Borrmann.

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 $3.7 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.

Media contact: Art Seaver, aseaver@southernfirst.com

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SOURCE Southern First Bancshares, Inc.

FAQ

Who is the new CFO of Southern First Bancshares?

Andy Borrmann has been appointed as the new Chief Financial Officer of Southern First Bancshares.

What experience does Andy Borrmann have?

Andy Borrmann has nearly 30 years of experience in the financial sector, including roles as CFO at SouthCrest Bank.

When was Andy Borrmann appointed CFO of Southern First Bancshares?

Andy Borrmann was appointed CFO on April 3, 2023.

What are the potential impacts of Borrmann's appointment on Southern First Bancshares?

Borrmann's extensive experience may enhance leadership and foster growth opportunities for Southern First.