SZB Southfirst Bancshares

Sandra H. Stephens, Chief Executive Officer of First Federal of the South, FSB, announced today that the bank will change its name effective October 1, 2005 to SouthFirst Bank. Ms. Stephens stated that "This change was made to consolidate brand names with SouthFirst Bank's holding company, SouthFirst Bancshares, Inc., a federally chartered thrift holding company (AMEX:SZB), and one of SouthFirst Bank's wholly-owned subsidiaries, SouthFirst Mortgage, Inc., a residential mortgage and construction lending company, so that they will all operate under the 'SouthFirst' banner." Ms. Stephens stated, "Our customers will not see any change in the operations of SouthFirst Bank as a result of this name change, but should see a more unifying atmosphere as this change will better identify SouthFirst Bank with SouthFirst Bancshares, Inc. and SouthFirst Mortgage, Inc. to help avoid confusion about the relationship between these entities." SouthFirst Bank was organized in 1949 as a federally chartered mutual savings and loan association under the name Sylacauga Federal Savings and Loan Association. In 1959, SouthFirst Bank changed its name to First Federal Savings and Loan Association of Sylacauga. In the conversion, in 1995 SouthFirst Bank changed its name to First Federal of the South. SouthFirst Bank is a member of the Federal Home Loan Bank System and its deposit accounts are insured up to the maximum amount allowable by the FDIC. SouthFirst Bank offers a full range of consumer, mortgage, residential construction, and commercial loans, as well as savings, checking, and other commercial products in the full service offices located in Sylacauga, Talladega, and Clanton, with mortgage and residential products offered at the lending offices of its wholly-owned subsidiary, SouthFirst Mortgage.