FSBK First South Bancorp

WASHINGTON, N.C., June 16 /PRNewswire-FirstCall/ -- First South Bank, wholly owned subsidiary of First South Bancorp, Inc. (NASDAQ:FSBK), is pleased to announce the opening of a new full service banking office located at 47560 NC Highway 12 in Buxton, North Carolina. The Buxton office opened for business on June 15, 2006 and is First South Bank's third office in the North Carolina Outer Banks market area. The branch offers a full range of consumer banking products and financial services including loans, mortgages, deposit products, and business accounts, including Business Free Checking, as well as a drive thru window, a drive up ATM and a commercial night depository. "The new Buxton office will help us better serve the needs of our growing customer base in the Hatteras Island and Ocracoke Island market area," First South Bank Senior Vice President and Area Executive Russ Lay said. "The new Buxton 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, and I am confident that with our professional staff, we will achieve just that." Kenny Marshall, who has eight years banking experience in the Hatteras Island and Ocracoke Island market area, will serve as City Executive for the new office. The new office may be reached by phone at 252-995-3250. Lay said, "First South Bank is excited about the new Buxton office and the additional level of lending, deposit and other financial services it will provide to our Outer Banks customer base. This office is a statement of our total commitment to the people of Eastern North Carolina, including Dare and Hyde counties. First South Bank is dedicated to providing the best possible service to 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 and securities brokerage services through an affiliation with a broker/dealer. First South Bank operates through its main office headquartered in Washington, North Carolina, and has twenty-six full service branch offices and three loan production offices located throughout central, eastern, northeastern and southeastern North Carolina. Statements contained in this release, which are not historical facts, are forward-looking statements as defined in the Private 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. For More Information Contact: Russ Lay (252-441-9631) Kenny Marshall(252-995-3250) or Bill Wall (252-940-5017) Website: http://www.firstsouthnc.com/ DATASOURCE: First South Bancorp, Inc. CONTACT: Russ Lay, +1-252-441-9631, or Kenny Marshall, +1-252-995-3250, or Bill Wall, +1-252-940-5017, all of First South Bank Web site: http://www.firstsouthnc.com/

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