SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) March 22, 2002
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SouthFirst Bancshares, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-13640 63-1121255
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
126 North Norton Avenue, Sylacauga, Alabama 35150
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (205) 245-4365
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Not applicable
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
On March 29, 2002, SouthFirst Bancshares, Inc. (the "Company") issued a
press release (the "Press Release"), announcing that First Federal of the South,
a federally chartered stock savings association (the "Bank") and wholly owned
subsidiary of the Company, has entered into a Supervisory Agreement (the
"Supervisory Agreement") with the Office of Thrift Supervision. For information
regarding the terms of the Supervisory Agreement, reference is made to the
Supervisory Agreement and the Press Release, which are attached hereto as
Exhibits 99.1 and 99.2 respectively, and are incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibits are filed with this report:
Exhibit No. Description
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99.1 Supervisory Agreement dated March 22, 2002, by and
between First Federal of the South and the Office of
Thrift Supervision
99.2 Press Release issued by SouthFirst Bancshares, Inc.,
dated March 29, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Company has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
SouthFirst Bancshares, Inc.
By: /s/ Sandra H. Stephens
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Sandra Stephens
Executive Vice President and
Chief Operating Officer
Dated: March 29, 2002
EXHIBIT INDEX
Exhibit No. Description of Exhibit
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99.1 Supervisory Agreement dated March 22, 2002, by and
between First Federal of the South and the Office
of Thrift Supervision
99.2 Press Release issued by SouthFirst Bancshares,
Inc., dated March 29, 2002