First South Bancorp, Inc. Ranked 13th in United States by U.S. Banker for 3-Year Average ROE
June 12 2009 - 9:39AM
PR Newswire (US)
WASHINGTON, N.C., June 12 /PRNewswire-FirstCall/ -- First South
Bancorp, Inc. (NASDAQ:FSBK) (the "Company"), parent holding company
of First South Bank (the "Bank"), has been recognized by U.S.
Banker magazine as 13th among the top 200 publicly traded community
banks and thrifts in the United States with less than $2 billion of
assets at December 31, 2008. The listing, which appears in the June
2009 edition of U.S. Banker magazine, was compiled by rating the
top 200 publicly traded community banks and thrifts in the United
States with less than $2 billion of assets ranked by 3-year average
return on equity (ROE) as of December 31, 2008. Of the top 200
publicly traded community banks and thrifts identified in the U.S.
Banker rankings, First South Bancorp ranks 13th, with an 18.77%
3-year average ROE. Bill Wall, Executive Vice President and Chief
Financial Officer of the Company stated, "We are pleased to be
recognized by the U.S. Banker for our 3-year average return on
equity. This ranking reflects the Company's success of managing its
equity position. We have focused on maintaining a core earnings
stream, while controlling operating expenses in order to enhance
our operating performance. "The U.S. Banker ranking exemplifies the
visibility of First South Bancorp's operating performance among the
national banking, business and investment communities and places us
at the top of our peer group in 3-year average return on equity.
This performance ranking also places us with the highest 3-year
average return on equity among all publicly traded community banks
and thrifts headquartered in the state of North Carolina." First
South Bank operates through its main office headquartered in
Washington, North Carolina, and has 28 full service branch offices
and a loan production office, located throughout eastern,
northeastern, southeastern and central North Carolina. The Bank
offers a broad range of financial products and services, including
a leasing company. The Bank also makes securities brokerage
services available through an affiliation with an independent
broker-dealer. First South Bancorp's common stock is listed on the
NASDAQ Global Select Market under the symbol FSBK. Additional
corporate information, product and service descriptions and online
services are available to investors and customers through First
South Bank's website at http://www.firstsouthnc.com/. 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, 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) Phone: (252) 940-5017 Website:
http://www.firstsouthnc.com/ DATASOURCE: First South Bancorp, Inc.
CONTACT: Bill Wall, CFO of First South Bancorp, Inc.,
+1-252-940-5017 Web Site: http://www.firstsouthnc.com/
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