EXHIBIT 99.1

PRESS RELEASE

Contact:    Joe K. McArthur, President & CEO or
            Sandra Stephens, Executive Vice President & COO
            First Federal of the South, FSB
            (256) 245-4365

FIRST FEDERAL OF THE SOUTH CONSUMMATES SALE OF CENTREVILLE OFFICE TO FIRST
FINANCIAL BANK

Sylacauga, Alabama. (September 9, 2003)

Joe K. McArthur, President and CEO of First Federal of the South announced today
that, "I am pleased to report that the sale of our Centreville office to First
Financial Bank has been completed. The transaction was subject to regulatory
approval for both institutions which was recently received from our respective
governing agencies. The decision to sell the Centreville office is consistent
with our Strategic Plan to focus our growth and marketing efforts in our core
lending areas of Sylacauga, Talladega, Birmingham and Clanton. We are pleased to
undertake this transaction with First Financial Bank headquartered in Bessemer,
Alabama."

Mr. McArthur further stated, "We are pleased to be able to transfer these
customer relationships to a bank as committed to its customers as First
Financial. Our Centreville depositors and borrowers will continue to be served
very well." Mr. McArthur further commented, "The transaction included the sale
of approximately $8.3 million of deposits at a slight premium, as well as a sale
of approximately $5.6 million in commercial, mortgage, and consumer loans. This
will have an overall positive effect on the core earnings of the bank by
generating fee income as a result of the premium, by reducing operating
expenses, and by improving the net interest margin."

B. K. Goodwin, III, President and CEO of First Financial Bank stated, "We are
pleased to be purchasing the Centreville accounts from First Federal. This
transaction gives us the opportunity to increase the utilization of our current
Centreville location to service these relationships. We look forward to meeting
and serving the financial needs of our new customers and acquainting them with
our banking services." Mr. Goodwin further commented, "The First Federal
transaction represents an opportunity to expand our customer base in
Centreville. Strong support from the Centreville community encouraged us to take
this step."

First Federal of the South, FSB, is a wholly owned subsidiary of SouthFirst
Bancshares, Inc., a federally chartered thrift holding company (AMEX: SZB).
First Federal offers a full range of consumer, mortgage, commercial, and
residential construction loans, as well as savings, checking, and commercial
products with locations in Sylacauga, Talladega, Clanton, Centreville, and
Birmingham.





Forward-Looking Statements: This release may contain forward-looking statements
as well as historical information. Forward-looking statements, which are
included in accordance with the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, may involve known or unknown risks,
uncertainties and other factors that may cause the company's actual results and
performance in future periods to be materially different from any future results
or performance suggested by the forward-looking statements in this release. Such
risks and uncertainties include, without limitation, the risk that the sale of
the Centreville office will not have an overall positive effect on the core
earnings of the bank, as anticipated by the company. Such forward-looking
statements speak only as of the date of this release. The company expressly
disclaims any obligation to update or revise any forward-looking statements
found herein to reflect any changes in company expectations or results or any
change in events.