First South Bancorp, Inc. Recognized in The Financial 100 by Business North Carolina

WASHINGTON, N.C., June 7 /PRNewswire-FirstCall/ -- First South Bancorp (Nasdaq: FSBK), parent holding company of First South Bank, has been recognized in The Financial 100 rankings by Business North Carolina magazine.

The Financial 100 rankings appear in an article in the June 2010 edition of Business North Carolina magazine.  Their rankings of 100 North Carolina financial institutions include Banks, Savings & Loans and Credit Unions.  The ranking categories consist of 2009 Revenue, Assets, Net Income, Deposits, Return on Assets, Return on Equity and Efficiency Ratio.  

In the Business North Carolina Financial 100 rankings, First South Bancorp was ranked in the following categories:

• Net Income – 5th
• Best Return on Assets – 5th
• Best Return on Equity – 6th
• Best Efficiency Ratio – 9th
• 2009 Revenue – 23rd

Bill Wall , Executive Vice President and Chief Financial Officer of the Company, stated, "We are pleased to be recognized by Business North Carolina magazine. Their Financial 100 rankings exemplify the performance of First South Bancorp among the 100 North Carolina financial institutions they identified, and places us in the top tier of North Carolina financial institutions in operating performance."

First South Bank operates through its main office headquartered in Washington, North Carolina, and has 28 full service branch offices and a loan production office, located throughout eastern, northeastern, southeastern and central North Carolina.  The Bank offers a broad range of financial products and services, including a leasing company.  The Bank also makes securities brokerage services available through an affiliation with an independent broker-dealer.

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, 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)

SOURCE First South Bancorp, Inc.

RELATED LINKS
http://www.firstsouthnc.com