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SOURCE First South Bank
WASHINGTON, N.C., July 18, 2014 /PRNewswire/ -- First South Bank (wholly owned subsidiary of First South Bancorp, Inc., NASDAQ: FSBK), is pleased to announce the purchase of a new branch site in Lumberton, North Carolina.
The purchase of the new branch site was completed on July 14, 2014. The site is located at 4309 Fayetteville Road, at the corner of Fayetteville Road and Farringdom Street and situated as an outparcel in the Twin Oaks Plaza shopping center. This location will become the home of a new, state of the art branch office serving Lumberton and the surrounding communities. The Bank has partnered with DBSI, Inc., a leading bank design firm, to provide design and architectural services and will contract with Townsend Construction Company, Inc. to complete the construction of the new facility. The Bank anticipates opening the doors for business at this new facility during the 1st Quarter of 2015 and expects to consolidate its two existing Lumberton offices into this single location. Through this new branch office, the Bank will offer a full array of loan and deposit services for individuals and businesses, including a full line of electronic and on-line banking products.
First South Bank President and CEO Bruce Elder stated, "The Bank is excited about acquiring this highly visible, conveniently located site through which we can provide an enhanced customer experience to our current and future Lumberton and Robeson County area customer base. In addition to the purchase of this site, the Bank is pleased to be partnering with two companies who have the expertise to deliver a top-notch facility. This branch is a statement of our commitment to the people of eastern North Carolina, Lumberton, and Robeson County."
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 26 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, LLC. 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, Inc. (the "Company") 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 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.
For more information contact:
Bruce Elder (CEO), (252) 940-4936
Scott McLean (CFO), (252) 940-5016
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