8-K

	UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	WASHINGTON, DC 20549
	FORM 8-K
	CURRENT REPORT PURSUANT
	TO SECTION 13 OR 15(D) OF THE
	SECURITIES EXCHANGE ACT OF 1934
	Date of report (Date of earliest event reported)     May 17, 2006
	Greenville First Bancshares, Inc.
	(Exact name of registrant as specified in its charter)
	South Carolina
	(State or other jurisdiction of incorporation)
	000-27719	58-2459561
	(Commission File Number)	(IRS Employer Identification No.)
	112 Haywood Road, Greenville, S.C.	29607
	(Address of principal executive offices)	(Zip Code)
	(864) 679-9000
	(Registrant's telephone number, including area code)
	Not Applicable
	(Former name or former address, if changed since last report)
	Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
	obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01   Regulation FD Disclosure

Greenville First Bancshares, Inc. is hereby furnishing a slide presentation to be used by certain executive officers of the company when they speak to the company's shareholders at the Annual Shareholders' meeting on May 17, 2006.  The presentation is filed as Exhibit 99.1 to this Current Report on Form 8-K.

The information in Item 7.01 and Exhibit 99.1 of Item 9.01 is being furnished, not filed.  Accordingly, the information in this Item 7.01 and Exhibit 99.1 of Item 9.01 will not be incorporated by reference into any registration statement filed by Greenville First Bancshares under the Securities Act of 1933 unless specifically identified therein as being incorporated therein by reference.  The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by Greenville First Bancshares that (i) the information in this report is material or complete or (ii) investors should consider this information before making an investment decision with respect to any security of Greenville First Bancshares or any of its affiliates.

ITEM 9.01.   Financial Statements and Exhibits

      (c)       Exhibits:  The following exhibits are filed as part of this report:

Exhibit

 NumberDescription

 99.1            Slide presentation given by certain executive officers of Greenville First Bancshares at the Annual Shareholders' meeting held on May 17, 2006.

SIGNATURES

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

GREENVILLE FIRST BANCSHARES, INC.

By:     /s/ R. Arthur Seaver, Jr.                                 
Name      R. Arthur Seaver, Jr.
Title:       President and Chief Executive Officer

Dated: May 17, 2006

EXHIBIT INDEX

Exhibit

Number Description

99.1             Slide presentation given by certain executive officers of Greenville First Bancshares at the Annual Shareholders' meeting held on May 17, 2006.

EX-99.1

 Searchable text section of graphics shown above

Greenville First Bancshares

Annual Shareholder's Meeting

May 17th, 2006

Forward-Looking Statements

During the course of this presentation, management may make projections and forward-looking statements regarding events or the future financial performance of Greenville First Bancshares, Inc.  We wish to caution you that these forward-looking statements involve certain risks and uncertainties, including a variety of factors that may cause Greenville First's actual results to differ materially from the anticipated results expressed in these forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements and are advised to review the risk factors that may affect Greenville First's operating results in documents filed by Greenville First Bancshares, Inc. with the Securities and Exchange Commission, including the Form SB-2 Registration Statement, the Annual report on Form 10-K and other required filings.  Greenville First assumes no duty to update the forward-looking statements made in this presentation.

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Greenville First Bancshares - Corporate Profile

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•     Greenville First Bank opened in 2000

•     $405 million in total assets (1)

•     Greenville SC market - $7.6 billion in deposits (2)

•      3.1% Market Share (2)

•      GVBK - NASDAQ market

•      23% Insider Ownership

•      $66 million - Market Capitalization (1)

•      3 offices / 53 employees

1 - As of December 31, 2005

2 - FDIC Data - June, 2005

GVBK - 2005 Performance Highlights

•      Solid asset & earnings growth

•      Successful opening of our Parkway and Augusta Road offices

•      Record retail deposit production

•      Disciplined credit culture

•      Improved efficiency

•      Added 15 talented bankers to our team

•      Stock price increased 26%

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2005 Performance - Asset Growth

•      Assets exceed $400 million / 28% growth over 2004

•      Loans increased 21% for 2005

Total Assets (in millions)

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Loans (in millions)

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2005 Performance - Earnings Growth

•      Net earnings increased 25% to $2.5 million and reflect 4^th quarter charge related to move of corporate headquarters

•      Operating earnings increased 71% to $3.4 million

Net Earnings (in thousands)

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Net Operating Earnings (in thousands)

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2005 Performance - Office Expansion

•      Parkway Office opened in March 2005

•      Augusta Road Office opened in November 2005

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2005 Performance - Retail Deposit Growth

•      36% increase in retail deposits / 24% increase in the number of transaction accounts

Number of Transaction Accounts

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Performance Highlight - Disciplined Credit Culture

•      Loan loss reserve / total loans = 1.33% (1)

•      Reserve covers nonperforming loans 9.6 times

NCO's to Avg. Total Loans

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NPA's /Total Assets

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Notes:

(1)   Data as of December 31, 2005 / includes nonperforming loans

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Performance Highlight - Efficiency

•      Efficiency ratio = 49.2% for 2005

•      36% increase in the number of people in the last year

Efficiency Ratio

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Performance Highlight - Stock Price Appreciation 

Price History - GVBK (1/1/2005-12/31/2005)

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Greenville First Bancshares

Committed to the Future

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GVBK Strategic Plan - Grow Shareholder Value

GVBK Market Capitalization ($ Millions)

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Strategic Initiatives - By 2008:

•      Capitalize on our ClientFIRST model

•      Invest in strategic infrastructure

        -    Verdae Headquarters, Woodruff Road Office

        -    Key Bankers

        -    Risk Management

•      Grow assets to $600 million

•      Grow earnings to $5 million

•      Grow market share in excess of 5%

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GVBK - First Quarter 2006 Progress Report:

•      Assets increased to $417 million

•      Strongest growth quarter in history for loans and deposits

        Compared to first quarter 2005:

        -    Loans increased 23% to $364 million

        -    Retail deposits increased 52% to $206 million

        -    Transaction accounts increased 40% to $132 million

•      Earnings increased 28% to $842 thousand

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GVBK - Market Share Data

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Source - FDIC - June 2005

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GVBK - Key Success Drivers

•      Experienced & Performance Driven Leadership

•      Unique ClientFIRST Model

•      Dynamic Greenville, SC Market

•      Growth Story / Winning Reputation

•      Disciplined Credit & Risk Management Culture

•      Momentum

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Reconciliation of Non-GAAP Financial Measures

This presentation contains financial information determined by methods other than in accordance with Generally Accepted Accounting Principles ("GAAP").  Operating noninterest expense is used to compute the operating efficiency ratio.

Net income, (GAAP)                                                                $2,514

      Non-operating items:

      Impairment on real estate, net of income taxes                          930

Operating earnings                                                                $3,444

Noninterest expense, (GAAP)                                                  $7,856

      Non-operating items:         

      Impairment on real estate                                                      1,500

Operating noninterest expense                                             $6,356

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GREENVILLE FIRST BANCSHARES, INC.

www.greenvillefirst.com

Thank You

For Your Continued Support