First South Bank Opens New Full Service Office in Wilmington, North Carolina

WASHINGTON, N.C., June 17, 2013 /PRNewswire/ -- First South Bancorp, Inc. (NASDAQ: FSBK), parent holding company of First South Bank, is pleased to announce the relocation of First South Bank's banking office in Wilmington, North Carolina to a new full service banking office located at 1612 Military Cutoff Road.

The new full service banking office opened for business on June 17, 2013, and replaces First South Bank's limited service branch that opened in the Wilmington market in 2007.  This new full service branch office includes an ATM, drive thru window, safe deposit boxes and a commercial night depository.  The new full service branch may be reached by phone at 910-256-1264.  

The focus of the new Wilmington full service branch will be on marketing First South Bank's loan and deposit products and services to local businesses, professionals, mortgage customers, and individual borrowers and depositors.

David Thompson, who has 17 years banking experience in the Wilmington market area, will serve as Senior Vice President, City Executive and Commercial Banking Officer; Lee Bunch with 15 years banking experience in the Wilmington market area, will serve as Vice President and Commercial Banking Officer; Sharon Moore with 12 years banking experience will serve as Assistant Vice President, Community Banking Officer and Branch Manager; Susan Yablonski with 11 years of experience will serve as administrative assistant/loan processor; and Rachel Betts with 10 years of experience will serve as customer service associate for the new office. 

"The new Wilmington full service office will help us better serve the needs of our growing customer base in the greater Wilmington and New Hanover County market area," First South Bank Executive Vice President and Chief Operating Officer Randy Woodson said. "The new office will offer the same hometown atmosphere that our customers have come to expect from First South Bank, as well as a convenient location, an experienced staff, and a wide variety of financial products and banking services, including both commercial and individual loans and deposit products, and business accounts and services."

Bruce Elder, President and Chief Executive Officer said, "First South Bank is excited about our new Wilmington office and the additional level of lending and deposit services it will provide to our growing Wilmington and New Hanover County area customer base. This new office is a statement of our total commitment to the people of eastern North Carolina, Wilmington and New Hanover County.  First South Bank is dedicated to providing the best possible service to both our future and existing customers." 

First South Bank has been serving the citizens of eastern 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 central and eastern 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 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:
David Thompson (SVP: 910-256-1264)
Randy Woodson (COO: 252-940-4922) or
Bruce Elder (CEO: 252-940-4936)
Website: www.firstsouthnc.com 

SOURCE First South Bancorp, Inc.



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