First South Bank Named Top SBA Lender Among North Carolina Community Banks

Apr 18, 2001, 01:00 ET from First South Bank

    WASHINGTON, N.C., April 18 /PRNewswire/ -- First South Bank, the wholly
 owned subsidiary of First South Bancorp, Inc. (Nasdaq: FSBK) reports that the
 U.S. Small Business Administration recently recognized First South Bank as the
 North Carolina Community Bank of the Year.
     First South Bank was the number one Small Business Administration lender
 among community banks in the state of North Carolina for the 2000 fiscal year.
     SBA's North Carolina District Director Lee Cornelison presented the Top
 Community Bank award to First South Bank Business Development Officer Bob
 Rhodes at the SBA Lenders' Conference in Greensboro on March 13, 2001.
     "The SBA is extremely proud to present this award to First South Bank, an
 institution that represents the best interests of small businesses,"
 Cornelison said.  "We depend on lenders such as First South Bank and are proud
 to be partnered with them."
     First South Bank aggressively used the SBA guaranty program to assist its
 customers in eastern North Carolina during fiscal year 2000.  The bank
 originated a total of 16 SBA loans for $3.6 million, placing the bank first
 among the 40 community banks across the state of North Carolina that
 participate in the SBA program.
     "We are extremely pleased to receive this award and will continue to be
 diligent in our efforts to provide our customers and the communities in which
 we operate the programs offered by the SBA," said Senior Vice President Gary
 Brock, who oversees First South Bank's SBA lending.
      According to Brock, First South Bank's recipe for SBA lending success is
 simple.  "We take it one customer at a time and have been successful with SBA
 loans by understanding the individual needs of the customer and placing that
 customer in a loan program that fits his or her business plan and vision,"
 said Brock. "First South will continue to offer SBA guaranteed loans as a part
 of our business loan products and services."
     First South Bank offers a variety of financial products and services and
 operates through its main office located in Washington, NC with full seventeen
 full service branch offices located in Chocowinity, Dortches, Elizabeth City,
 Fayetteville, Greenville, Kinston, Lumberton, New Bern, Rocky Mount, Tarboro
 and Washington, North Carolina.
 
 

SOURCE First South Bank
    WASHINGTON, N.C., April 18 /PRNewswire/ -- First South Bank, the wholly
 owned subsidiary of First South Bancorp, Inc. (Nasdaq: FSBK) reports that the
 U.S. Small Business Administration recently recognized First South Bank as the
 North Carolina Community Bank of the Year.
     First South Bank was the number one Small Business Administration lender
 among community banks in the state of North Carolina for the 2000 fiscal year.
     SBA's North Carolina District Director Lee Cornelison presented the Top
 Community Bank award to First South Bank Business Development Officer Bob
 Rhodes at the SBA Lenders' Conference in Greensboro on March 13, 2001.
     "The SBA is extremely proud to present this award to First South Bank, an
 institution that represents the best interests of small businesses,"
 Cornelison said.  "We depend on lenders such as First South Bank and are proud
 to be partnered with them."
     First South Bank aggressively used the SBA guaranty program to assist its
 customers in eastern North Carolina during fiscal year 2000.  The bank
 originated a total of 16 SBA loans for $3.6 million, placing the bank first
 among the 40 community banks across the state of North Carolina that
 participate in the SBA program.
     "We are extremely pleased to receive this award and will continue to be
 diligent in our efforts to provide our customers and the communities in which
 we operate the programs offered by the SBA," said Senior Vice President Gary
 Brock, who oversees First South Bank's SBA lending.
      According to Brock, First South Bank's recipe for SBA lending success is
 simple.  "We take it one customer at a time and have been successful with SBA
 loans by understanding the individual needs of the customer and placing that
 customer in a loan program that fits his or her business plan and vision,"
 said Brock. "First South will continue to offer SBA guaranteed loans as a part
 of our business loan products and services."
     First South Bank offers a variety of financial products and services and
 operates through its main office located in Washington, NC with full seventeen
 full service branch offices located in Chocowinity, Dortches, Elizabeth City,
 Fayetteville, Greenville, Kinston, Lumberton, New Bern, Rocky Mount, Tarboro
 and Washington, North Carolina.
 
 SOURCE  First South Bank