First South Bancorp, Inc. Declares Quarterly Cash Dividend

WASHINGTON, N.C., Jan. 24, 2014 /PRNewswire/ -- First South Bancorp, Inc. (NASDAQ: FSBK) (the "Company"), the parent holding company of First South Bank (the "Bank"), reports that on January 23, 2014 the Company's Board of Directors declared a quarterly cash dividend of $0.025 per share, payable February 14, 2014 to shareholders of record as of the close of business on February 4, 2014. 

Bruce Elder, President and Chief Executive Officer of the Company, stated, "The Board of Directors is pleased to announce the reinstatement of a quarterly cash dividend.  The reinstatement of a dividend reflects the strong capital position of the Company, sound and improved financial performance and our desire to provide additional value to our shareholders."

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, including a leasing company.  Securities brokerage services are made available through an affiliation with an independent broker/dealer. The 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, Inc. may be accessed on its website at www.firstsouthnc.com.  The Company's common stock symbol as traded on the NASDAQ Global Select Market is "FSBK".

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, but are not limited to, factors 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 (CEO) (252) 940-4936
Scott McLean (CF0) (252) 940-5016
Website: www.firstsouthnc.com

SOURCE First South Bancorp, Inc.



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