Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]
February 07 2024 - 1:35PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1) *
Southern First Bancshares, Inc (SFST) |
(Name of Issuer) |
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Common Stock |
(Title of Class of Securities) |
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842873 10 1 |
(CUSIP Number) |
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12/31/2023 |
(Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
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☐ |
Rule 13d-1(b) |
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☑ |
Rule 13d-1(c) |
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☐ |
Rule 13d-1(d) |
* The remainder of this cover page shall be filled out for
a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. |
842873 10 1 |
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Page 2 of 8 |
1 |
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) |
FJ Capital Management LLC
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2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☑
(b) ☐ |
3 |
SEC USE ONLY
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4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
|
Delaware |
NUMBER OF
SHARES |
5 |
SOLE VOTING POWER |
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BENEFICIALLY
OWNED BY |
6 |
SHARED VOTING POWER |
791,009 (1) |
EACH
REPORTING |
7 |
SOLE DISPOSITIVE POWER |
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PERSON
WITH: |
8 |
SHARED DISPOSITIVE POWER |
791,009 (1) |
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
791,009 (1) |
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
CERTAIN SHARES
|
☐ |
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
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9.78% |
12 |
TYPE OF REPORTING PERSON
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IA |
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| (1) | Consists of 791,009 shares of common stock of the Issuer held by Financial
Opportunity Fund LLC of which FJ Capital Management LLC is the managing member; as such, the Reporting Person may be deemed to be a beneficial
owner of reported shares but as to which the Reporting Person disclaims beneficial ownership. |
CUSIP No. |
842873 10 1 |
|
Page 3 of 8 |
1 |
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) |
Financial Opportunity Fund LLC
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☑
(b) ☐ |
3 |
SEC USE ONLY
|
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
|
Delaware |
NUMBER OF
SHARES |
5 |
SOLE VOTING POWER |
|
BENEFICIALLY
OWNED BY |
6 |
SHARED VOTING POWER |
791,009 (1) |
EACH
REPORTING |
7 |
SOLE DISPOSITIVE POWER |
|
PERSON
WITH: |
8 |
SHARED DISPOSITIVE POWER |
791,009 (1) |
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
791,009 (1) |
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
CERTAIN SHARES
|
☐ |
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
|
9.78% |
12 |
TYPE OF REPORTING PERSON
|
OO |
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| (1) | Consists of 791,009 shares of common stock of the Issuer held by Financial
Opportunity Fund LLC. |
CUSIP No. |
842873 10 1 |
|
Page 4 of 8 |
1 |
NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(ENTITIES ONLY) |
Martin Friedman
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☑
(b) ☐ |
3 |
SEC USE ONLY
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|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
|
United States |
NUMBER OF
SHARES |
5 |
SOLE VOTING POWER |
|
BENEFICIALLY
OWNED BY |
6 |
SHARED VOTING POWER |
791,009 (1) |
EACH
REPORTING |
7 |
SOLE DISPOSITIVE POWER |
|
PERSON
WITH: |
8 |
SHARED DISPOSITIVE POWER |
791,009 (1) |
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
791,009 (1) |
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
CERTAIN SHARES
|
☐ |
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
|
9.78% |
12 |
TYPE OF REPORTING PERSON
|
IN |
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|
|
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| (1) | Consists of 791,009 shares of common stock of the Issuer held by Financial
Opportunity Fund LLC of which FJ Capital Management LLC is the managing member. Martin Friedman is the Managing Member of FJ Capital Management
LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial
ownership. |
CUSIP
No. |
842873 10 1 |
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Page 5 of 8 |
Item 1(a). |
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Name of Issuer: |
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Southern First Bancshares, Inc (SFST) |
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Item 1(b). |
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Address of Issuer’s Principal Executive Offices: |
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100 Verdae Boulevard, Suite 100 |
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Greenville, South Carolina 29607 |
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Item 2(a). |
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Name of Person Filing: |
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This Schedule 13G is being filed on behalf of the
following Reporting Persons:
Financial Opportunity Fund LLC
FJ Capital Management LLC
Martin Friedman |
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Item 2(b). |
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Address of Principal Business Office or, if None, Residence: |
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FJ Capital Management, LLC
7901 Jones Branch Drive, Suite 210
McLean, VA 22102
Financial Opportunity Fund LLC
7901 Jones Branch Drive, Suite 210
McLean, VA 22102
Martin Friedman
7901 Jones Branch Drive, Suite 210
McLean, VA 22102 |
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Item 2(c). |
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Citizenship: |
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Financial Opportunity Fund LLC and FJ Capital Management
LLC – Delaware limited liability companies
Martin Friedman – United States citizen |
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Item 2(d). |
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Title of Class of Securities: |
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Common Stock |
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Item 2(e). |
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CUSIP Number: |
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842873 10 1 |
CUSIP No. |
842873 10 1 |
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Page 6 of 8 |
Item 3. |
If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a: |
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(a) |
☐ |
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). |
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(b) |
☐ |
Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). |
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(c) |
☐ |
Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). |
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(d) |
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Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). |
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(e) |
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An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); |
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(f) |
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An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); |
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(g) |
☐ |
A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); |
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(h) |
☐ |
A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
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(i) |
☐ |
A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); |
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(j) |
☐ |
Group, in accordance with §240.13d-1(b)(1)(ii)(J). |
Item 4. |
Ownership. |
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Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. |
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(a) |
Amount beneficially owned: |
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FJ Capital Management LLC – 791,009 shares
Financial Opportunity Fund LLC – 791,009 shares
Martin Friedman – 791,009 shares |
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(b) |
Percent of class: |
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FJ Capital Management LLC – 9.78%
Financial Opportunity Fund LLC – 9.78%
Martin Friedman – 9.78% |
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(c) |
Number of shares as to which such person has: |
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(i) |
Sole power to vote or to direct the vote |
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All Reporting Persons - 0 |
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CUSIP No. |
842873 10 1 |
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Page 7 of 8 |
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(ii) |
Shared power to vote or to direct the vote |
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FJ Capital Management LLC – 791,009 shares
Financial Opportunity Fund LLC – 791,009 shares
Martin Friedman – 791,009 shares |
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(iii) |
Sole power to dispose or to direct the disposition of |
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All Reporting Persons - 0 |
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(iv) |
Shared power to dispose or to direct the disposition of |
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FJ Capital Management LLC – 791,009 shares
Financial Opportunity Fund LLC – 791,009 shares
Martin Friedman – 791,009 shares |
Item 5. |
Ownership of Five Percent or Less of a Class. |
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If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☐ |
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Item 6. |
Ownership of More than Five Percent on Behalf of Another Person. |
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N/A. |
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Item 7. |
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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N/A |
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Item 8. |
Identification and Classification of Members of the Group. |
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Due to the relationships among them, the reporting persons hereunder may be deemed to constitute a “group” with one another for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934. |
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Item 9. |
Notice of Dissolution of Group. |
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N/A |
Item 10. |
Certification. |
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By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect. |
CUSIP No. |
842873 10 1 |
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Page 8 of 8 |
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true, complete and correct.
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Date: 1/12/2023 |
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Financial Opportunity
Fund LLC
By: FJ Capital Management LLC, its Managing Member
By: /s/ Martin Friedman
Name: Martin Friedman
Title: Managing Member
FJ Capital Management
LLC
By: /s/ Martin Friedman
Name: Martin Friedman
Title: Managing Member
/s/ Martin Friedman
MARTIN FRIEDMAN
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