First State Financial Corporation Announces Closing of Common Stock Offering SARASOTA, Fla., Jan. 6 /PRNewswire-FirstCall/ -- First State Financial Corp. (NASDAQ:FSTF), the financial holding company of First State Bank, having offices in both Sarasota and Pinellas Counties, has closed the sale of 2,446,625 shares of its common stock at a price of $12.00 per share before commissions and expenses. The shares were sold on a firm commitment basis through Advest, Inc. The net proceeds of the offering will be used to provide capital to support continued loan and deposit growth, and mergers or acquisitions. Corey J. Coughlin, President and Chief Executive Officer of First State Financial Corp. and First State Bank, stated, "This successful common stock offering will provide the capital to continue our strategic growth initiatives throughout Southwest Florida. We welcome our new shareholders and resolve to continue our commitment to quality community banking." First State Bank is a wholly owned subsidiary of First State Financial Corporation. First State Bank has been in operation since October 1988 and its mission is to provide high quality financial products with personalized customer service. First State Bank's main office is in Sarasota, Florida and has five branch offices, two located in Sarasota, two located in St. Petersburg and one in Seminole, Florida. As of December 31, 2004, the Company had total consolidated assets of $274,003,822, net total loans of $224,394,735, deposits of $212,679,100 and stockholders' equity of $41,603,090. For further information, please contact Corey J. Coughlin, President and CEO, at 941-330-1865. DATASOURCE: First State Financial Corporation CONTACT: Corey J. Coughlin, President and CEO of First State Financial Corporation, +1-941-330-1865 Web site: http://www.firststatefl.com/

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