Banc Funds Co LLC Amends SFST Stake as of Dec 31, 2023
Ticker: SFST · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1090009
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, beneficial-ownership
Related Tickers: SFST
TL;DR
**Banc Funds Co LLC updated its SFST holdings, signaling continued institutional interest.**
AI Summary
Banc Funds Co LLC, a Chicago-based investment firm, filed an amended SC 13G/A on February 9, 2024, indicating a change in their beneficial ownership of Southern First Bancshares Inc. (SFST) common stock as of December 31, 2023. This filing, an amendment to a previous Schedule 13G, signals that Banc Funds Co LLC, along with its group members Banc Fund IX L.P. and TBFC Financial Technologies Fund L.P., continues to hold a significant, though potentially altered, stake in the bank. Investors should note this as it reflects the ongoing commitment or adjustment of a major institutional investor in SFST.
Why It Matters
This filing shows that a major institutional investor, Banc Funds Co LLC, is still involved with Southern First Bancshares, which can influence stock stability and investor confidence.
Risk Assessment
Risk Level: low — This is a routine amendment to a beneficial ownership report, indicating no immediate high-risk events.
Analyst Insight
An investor should monitor future filings from Banc Funds Co LLC to track any significant changes in their ownership percentage, as large institutional movements can sometimes precede broader market sentiment shifts for the stock.
Key Players & Entities
- Banc Funds Co LLC (company) — filer of the SC 13G/A
- Southern First Bancshares Inc. (company) — the subject company whose stock is being reported
- Banc Fund IX L.P. (company) — group member of Banc Funds Co LLC
- TBFC Financial Technologies Fund L.P. (company) — group member of Banc Funds Co LLC
- December 31, 2023 (date) — date of event requiring the filing
FAQ
What type of filing is this and what does it generally indicate?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It indicates that a passive institutional investor, in this case, Banc Funds Co LLC, has updated their beneficial ownership stake in Southern First Bancshares Inc. as of December 31, 2023.
Who is the filer of this SC 13G/A and what is their business address?
The filer is Banc Funds Co LLC. Their business address is 20 North Wacker Drive, Suite 3300, Chicago, IL 60606.
What is the subject company of this filing, and what is its CUSIP number?
The subject company is Southern First Bancshares, Inc. The CUSIP number for its common stock is 842873101.
When was the event that required this filing, and when was the filing made?
The date of the event which required the filing of this statement was December 31, 2023. The filing itself was made on February 9, 2024.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(c) of the Securities Exchange Act of 1934, as indicated by the 'x' next to Rule 13d-1(c) on the form.
Filing Stats: 1,440 words · 6 min read · ~5 pages · Grade level 7.3 · Accepted 2024-02-09 15:19:54
Filing Documents
- doc1.htm (SC 13G/A) — 94KB
- 0001567619-24-000128.txt ( ) — 96KB
From the Filing
SC 13G/A 1 doc1.htm NONE Schedule 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 )* Southern First Bancshares, Inc. (Name of Issuer) COMMON STOCK (Title of Class of Securities) 842873101 (CUSIP Number) December 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: o Rule 13d-1(b) x Rule 13d-1(c) o 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. 842873101 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANC FUND X L.P. 82-5185037 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 192513 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 192513 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 192513 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.4% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN FOOTNOTES CUSIP No. 842873101 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BANC FUND IX L.P. 37-1755531 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 226060 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 226060 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 226060 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.8% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN FOOTNOTES CUSIP No. 842873101 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) TBFC Financial Technologies Fund L.P. 88-1405404 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) N/A FOOTNOTES Item 1. (a) Name of Issuer Southern First Bancshares, Inc. (b) Address of Issuer's Principal Executive Offices 100 Verdae Boulevard, Suite 100, Greenville, SC 29606 Item 2. (a) Name of Person Filing The Banc Funds Company, L.L.C. This Schedule 13G/A is being filed jointly by Banc Fund IX L.P. ("BF IX"), an Illinois Limited Partnership, Banc Fund X L.P. ("BF X"), an Illinois Limited Partnership, and TBFC Financial Technologies Fund L.P. (collectively, the "Reporting Persons"). The general partner of BF IX is MidBan IX L.P. ("MidBan IX"), whose principal business is to be a general partner of BF IX. The general partner of BF X is MidBan X L.P. ("MidBan X"), whose principal business is to be a general partner of BF X. The general partner of TBFC Financial Technologies Fund L.P. is MidBan XI L.P. ("MidBan XI"), whose principal business is to be a general partner of TBFC Financial Technologies Fund L.P. The general partner of MidBan IX, MidBan X, and MidBan XI is The Banc Funds Company, L.L.C., ("TBFC"), whose principal business is to be a general partner of MidBan IX, MidBan X, and MidBan XI. TBFC is an Illinois corporation whose principal shareholder is Charles J. Moore. Mr. Moore has been the manager of BF IX, BF X and TBFC Financial Technologies Fund L.P., since their respective inceptions. As manager, Mr. Moore has voting and dispositive power over the securities of the issuer held by each of those entities. As the controlling member of TBFC, Mr. Moor