First South Bancorp, Inc. Recognized Among Banking's Top Performers by ABA Banking Journal
June 05 2007 - 12:30PM
PR Newswire (US)
WASHINGTON, N.C., June 5 /PRNewswire-FirstCall/ -- First South
Bancorp, Inc. (NASDAQ:FSBK) (the "Company"), parent holding company
of First South Bank (the "Bank"), has been recognized as one of
banking's top performers by the ABA Banking Journal. The listing,
which appears in the June 2007 edition of the ABA Banking Journal,
published by the American Bankers Association, presented their 15th
annual performance rankings, in which they evaluated the overall
operating results and performance of 150 of the best-performing
community banks and thrifts in America. In the current ranking,
First South Bancorp, Inc. is ranked 28th among the best-performing
community banks in America for non- subchapter S community banks
and thrifts with total assets between $100 million and $3 billion,
ranked by return on average equity ("ROAE") for the year ended
December 31, 2006. First South Bancorp was the only community bank
or thrift headquartered in the state of North Carolina ranked by
the ABA Banking Journal in either non-subchapter S category for
banks and thrifts under $100 million in assets or between $100
million and $3 billion in assets. Bill Wall, Executive Vice
President and Chief Financial Officer of the Company, stated, "We
are pleased to be recognized by the ABA Banking Journal. Their
ranking highlights the success of community banks that exhibited
outstanding performance in 2006, and further exemplifies the
growing visibility of First South Bancorp's performance among the
top performing community banks and thrifts in America. The
community banks and thrifts with the highest ROAE were selected as
the top performers in their asset size categories. This recognition
reflects the continued success of the Company's operating
performance. We are extremely proud to be the only non-subchapter S
community bank or thrift selected by the ABA Banking Journal from
the state of North Carolina." 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 twenty-six
full service branch offices and two 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.
(NASDAQ:FSBK) For More Information Contact: Bill Wall (CFO) or Tom
Vann (CEO) Phone: (252) 946-4178 Website:
http://www.firstsouthnc.com/ DATASOURCE: First South Bancorp, Inc.
CONTACT: Bill Wall, CFO, or Tom Vann, CEO, of First South Bancorp,
Inc., +1-252-946-4178 Web site: http://www.firstsouthnc.com/
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