WASHINGTON, N.C., Feb. 9, 2017 /PRNewswire/ -- First South Bank ("Bank"), a wholly-owned banking subsidiary of First South Bancorp, Inc. ("Company") (NASDAQ: FSBK), is pleased to announce that John Okerson has been selected as the new Director of Leasing for the Bank's subsidiary, First South Leasing. John Okerson will succeed the leadership responsibilities at First South Leasing after current Director, Donnie Bunn, retires in May 2017.
In recruiting a Director of First South Leasing, the Bank desired a leader with extensive experience in the equipment financing arena and someone who understands the needs and concerns of small business owners. Prior to joining First South Leasing, John spent twelve years at Siemens Financial Services, Inc. in Malvern, PA where he provided equipment financing solutions for businesses in industrial production, healthcare and energy. John has bank sales experience from his time working as a Commercial Relationship Manager for two financial institutions in northeastern United States. Additionally, John has experience as an entrepreneur. Bruce Elder, President and CEO of the Bank, said, "We are fortunate to have attracted a person with John's experience and background to direct the sales and operations functions at First South Leasing. Under John's leadership, we expect to see greater growth penetration in existing markets and new equipment types."
The Bank looks forward to John bringing his experience in lease negotiation and financing solutions to the customers of eastern and central North Carolina. We view this as an opportunity to strengthen the business communities of our footprint by expanding the offerings of First South Leasing. These businesses drive economic growth and development, and the Bank strives to serve as a partner to their success.
"I am excited to join First South Bank as Leasing Director," said John. "I have been in banking and leasing for most of my career; and I look forward to the challenge of expanding the value First South Leasing can offer by tailoring valuable solutions to the specific needs of business owners of eastern and central North Carolina."
John recently moved to Washington, North Carolina from Phoenixville, Pennsylvania. He is setting down roots in Washington and has already begun to engage in community organizations and activities.
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 to business and individual customers. The Bank operates through its main office headquartered in Washington, North Carolina, and currently has 30 full service branch offices located throughout eastern and central North Carolina. The Bank also provides a full menu of leasing services through its wholly-owned subsidiary, First South Leasing. In addition, under its First South Wealth Management division, the Bank makes securities brokerage services available through an affiliation with an independent broker/dealer.
Additional First South Bancorp investor information may be accessed on our 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 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 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. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
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SOURCE First South Bank