Table of Contents
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 26, 2003
Greenville First Bancshares, Inc.
| South Carolina | 333-83851 | 58-2459561 | ||
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
112 Haywood Road, Greenville, S.C. 29607
Registrant’s Telephone Number, including area code: (864) 679-9000
| SIGNATURE | ||||||||
Table of Contents
Item 5. Other Events and Required FD Disclosure
On June 26, 2003, Greenville First Bancshares, Inc. issued $6.0 million floating rate trust preferred securities. The initial pricing of the transaction calls for a floating rate coupon beginning at 4.16%. The rate is determined quarterly.
The company will use $3.0 million of the proceeds to repay the outstanding balance on a $3.5 million line of credit. The $3.5 million line of credit will remain available. The Company will invest $2.7 million in the Company’s wholly-owned subsidiary, Greenville First Bank. The remaining balance will be used by the company to fund normal operations.
Table of Contents
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GREENVILLE FIRST BANCSHARES, INC. | ||||
| By: /s/ James M. Austin, III James M. Austin, III Chief Financial Officer | ||||
| Date: | July 10, 2003 |