First South Leasing Opens New Leasing Production Office in Charlotte, North Carolina

WASHINGTON, N.C., Feb. 4, 2014 /PRNewswire/ -- First South Bank (wholly owned subsidiary of First South Bancorp, Inc., NASDAQ: FSBK), is pleased to announce the opening of a new Leasing Production Office ("LPO") by its wholly owned subsidiary, First South Leasing, LLC, located at 10130 Perimeter Parkway, Suite 200, Charlotte, North Carolina 28216.

The LPO opened for business on January 16, 2014 and is First South Leasing's first office in the Charlotte and Mecklenburg County market area.  The focus of the LPO will be on marketing First South Leasing's commercial lease products and services to local businesses and commercial customers.  Sharon Barrett will serve as Leasing Consultant for the new LPO.  Sharon had previously worked 25 years for Springs Leasing Corporation located in Charlotte.   The new office may be reached by phone at 704-602-5162.  

"The Charlotte LPO will help us continue expanding and serving the needs of our growing North Carolina business and commercial customer base into the Charlotte and Mecklenburg County market area," First South Leasing President Donnie Bunn said. "First South Leasing began doing business in September 2001 and currently engages in leasing activities in North Carolina, South Carolina, Virginia and Maryland.  The new Charlotte LPO will offer the same hometown atmosphere that our customers have come to expect from First South Leasing, as well as a convenient location, an experienced staff, and a variety of business and commercial leasing products."

First South Bank President Bruce Elder commented, "We are excited about the new LPO and the opportunity to introduce First South Bank to the Charlotte market area. Our in-house equipment leasing offers a business line that distinguishes First South Bank from other community banks in North Carolina.  Sharon's previous employer ceased leasing operations at the end of 2013 and we are pleased that she chose to bring her knowledge and expertise to First South Leasing." 

First South Bank has been serving the citizens of eastern and central North Carolina since 1902 and offers a variety of financial products and services.  In addition to the Leasing Company, securities brokerage services are made available through an affiliation with an independent broker/dealer. First South Bank operates through its main office headquartered in Washington, North Carolina, and has 26 full service branch offices located throughout eastern and central North Carolina. 

First South Bancorp's common stock is listed on the NASDAQ Global Select Market under the symbol "FSBK".  Additional corporate information, product and service descriptions and online services are available to investors and customers through First South Bank's website at www.firstsouthnc.com.  

Statements contained in this release, which are not historical facts, are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors which include the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, the effects of competition, and including without limitation to other factors that could cause actual results to differ materially as discussed in documents filed by the Company with the Securities and Exchange Commission from time to time.

(NASDAQ: FSBK)

For More Information Contact:
Bruce Elder (252-940-4936)
Donnie Bunn (252-946-5190) or
Sharon Barrett (704-602-5162)
Website: www.firstsouthnc.com

SOURCE First South Bancorp, Inc.



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