~~Table~~UNITED ofSTATES SECURITIES ~~Contents~~AND EXCHANGE COMMISSION

~~SECURITIES~~WASHINGTON, ~~AND~~D.C. ~~EXCHANGE COMMISSION~~20549

~~WASHINGTON,~~FORM ~~D.C. 20549~~8-K

~~FORM~~CURRENT ~~8-K~~REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

~~CURRENT~~Date ~~REPORT PURSUANT~~of TOreport ~~SECTION 13 OR 15~~(d)Date OFof ~~THE~~earliest ~~SECURITIES~~event ~~EXCHANGE~~reported): ~~ACT~~January 7, ~~OF 1934~~2004

~~Date~~SOUTHFIRST ~~of report (Date of earliest event reported): September 9~~BANCSHARES, ~~2003~~INC.

~~SOUTHFIRST~~(Exact ~~BANCSHARES,~~Name ~~INC.~~of Registrant as Specified in Charter)

DELAWARE (~~Exact~~State ~~Name~~ of ~~Registrant~~Incorporation) as1-13640 ~~Specified~~(Commission inFile ~~Charter~~Number) 63-1121255 (I.R.S. Employer Identification No.)

~~DELAWARE~~126 ~~(State~~North ofNorton ~~Incorporation)~~Avenue, ~~1-13640~~Sylacauga, Alabama 35150 (~~Commission~~Address ~~File~~of ~~Number)~~Principal ~~63-1121255~~Executive ~~(I.R.S.~~Offices ~~Employer~~/ ~~Identification~~Zip ~~No.~~Code)

~~126 North Norton Avenue, Sylacauga, Alabama 35150~~(205) 245-4365 (~~Address~~Registrant’s oftelephone ~~Principal~~number, ~~Executive~~including ~~Offices~~area ~~/ Zip Code~~code)

~~(205)~~Item ~~245-4365 (Registrant’s~~5. Other ~~telephone~~Events ~~number,~~and ~~including~~Required ~~area~~FD ~~code)~~Disclosure.

~~TABLE~~ On January 7, OF2004, ~~CONTENTS~~Registrant’s wholly-owned subsidiary, First Federal of the South, publicly disseminated a press release announcing that its wholly-owned subsidiary, SouthFirst Mortgage, Inc., had acquired all of the assets and work in progress of Walton Mortgage, Inc. for $100,000 in cash pursuant to an asset purchase agreement. The information contained in the press release is incorporated herein by reference and filed as Exhibit 99.1 hereto.

~~Exhibit~~Item 7. Financial Statements, ~~Page~~Pro ~~PRESS~~Forma ~~RELEASE~~Financial ~~DATED~~Information ~~9/9/03~~and Exhibits.

~~Table of Contents~~(c) Exhibits.

~~Item 2~~ 99.1 ~~Acquisition~~Press orRelease ~~Disposition~~issued by First Federal of ~~Assets~~the South, a wholly-owned subsidiary of SouthFirst Bancshares, Inc., dated January 7, 2004.

~~The Registrant has received regulatory approval for the sale of its Centerville~~SIGNATURE ~~office to First Financial Bank headquartered in Bessemer, Alabama. The~~ ~~transaction was completed pursuant to asset purchase agreement and included the~~ ~~sale of approximately $8.3 million of deposits at a slight premium, as well as the sale of approximately $5.6 million in commercial, mortgage, and consumer loans.~~

~~(a) Exhibits~~ Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

99.1 Press Release issued by SouthFirst Bancshares, Inc., dated September 9, 2003.

~~SIGNATURE~~Exhibit Page

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Exhibit No.		Description of Exhibit

99.1		Press Release issued by First Federal of the South, a wholly-owned subsidiary of SouthFirst Bancshares, Inc., dated January 7, 2004.

		SOUTHFIRST BANCSHARES, INC.
Dated: September 24, 2003		By:		/s/ Joe K. McArthur Chief Executive Officer

Exhibit Page

Exhibit No.		Description of Exhibit
99.1		Press Release issued by SouthFirst Bancshares, Inc., dated September 9, 2003.

SOUTHFIRST BANCSHARES, INC.

Dated: January 8, 2004

/s/ Joe K. McArthur

Chief Executive Officer

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