First South Bancorp, Inc. Declares Quarterly Cash Dividend
September 22 2006 - 10:30AM
PR Newswire (US)
WASHINGTON, N.C., Sept. 22 /PRNewswire-FirstCall/ -- First South
Bancorp, Inc. (NASDAQ:FSBK) (the "Company"), the parent holding
company of First South Bank (the "Bank"), announces that on
September 21, 2006 the Company's Board of Directors declared a
quarterly cash dividend for the quarter ended September 30, 2006 of
$0.17 per share, payable October 27, 2006 to stockholders of record
as of October 10, 2006. This dividend payment is the Company's
thirty-eighth consecutive quarterly cash dividend. The current
annual cash dividend rate is $0.68 per share. Like all possible
dividends, there are no assurances that such anticipated cash
dividends will be paid unless appropriately declared by the Board
of Directors. Bill Wall, Executive Vice President and Chief
Financial Officer of the Company, stated "The Board of Directors
determined the quarterly cash dividend payment was appropriate in
consideration of the Company's capital position and recent
operating results. Any further dividends will depend upon the
Company's financial condition, earnings, equity structure, capital
needs, regulatory requirements and economic conditions." 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. The Bank operates
through its main office headquartered in Washington, North
Carolina, and has 26 branch offices and a loan production office
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: Bill Wall or Tom Vann (252) 946-4178
Website: http://www.firstsouthnc.com/ DATASOURCE: First South
Bancorp, Inc. CONTACT: Bill Wall or Tom Vann of First South
Bancorp, Inc., +1-252-946-4178 Web site:
http://www.firstsouthnc.com/
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