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First South Bank Opens New Full Service Office in Wilmington, North Carolina.

WASHINGTON, N.C., June 17, 2013 /PRNewswire/ — First South Bancorp,
Inc. (NASDAQ: FSBK), parent holding company of First South Bank, is
pleased to announce the relocation of First South Bank’s banking
office in Wilmington, North Carolina to a new full service banking
office located at 1612 Military Cutoff Road.

The new full service banking office opened for business on June 17,
2013, and replaces First South Bank’s limited service branch that
opened in the Wilmington market in 2007. This new full service branch
office includes an ATM, drive thru window, safe deposit boxes and a
commercial night depository. The new full service branch may be reached
by phone at 910-256-1264.

The focus of the new Wilmington full service branch will be on
marketing First South Bank’s loan and deposit products and services
to local businesses, professionals, mortgage customers, and individual
borrowers and depositors.

David Thompson, who has 17 years banking experience in the
Wilmington market area, will serve as Senior Vice President, City
Executive and Commercial Banking Officer; Lee Bunch with 15 years
banking experience in the Wilmington market area, will serve as Vice
President and Commercial Banking Officer; Sharon Moore with 12 years
banking experience will serve as Assistant Vice President, Community
Banking Officer and Branch Manager; Susan Yablonski with 11 years of
experience will serve as administrative assistant/loan processor; and
Rachel Betts with 10 years of experience will serve as customer service
associate for the new office.

“The new Wilmington full service office will help us better
serve the needs of our growing customer base in the greater Wilmington
and New Hanover County market area,” First South Bank Executive
Vice President and Chief Operating Officer Randy Woodson said. “The
new 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, including both commercial and individual loans and
deposit products, and business accounts and services.”

Bruce Elder, President and Chief Executive Officer said, “First
South Bank is excited about our new Wilmington office and the additional
level of lending and deposit services it will provide to our growing
Wilmington and New Hanover County area customer base. This new office is
a statement of our total commitment to the people of eastern North
Carolina, Wilmington and New Hanover County. First South Bank is
dedicated to providing the best possible service to both 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. Securities brokerage services are
made available through an affiliation with an independent broker/dealer.
The Bank operates through its main office headquartered in Washington,
North Carolina, and has 26 full service branch offices located
throughout central and eastern North Carolina.

First South Bancorp, Inc. may be accessed on its website at
www.firstsouthnc.com. The Company’s common stock symbol as traded
on the NASDAQ Global Select Market is “FSBK”.

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 the effects of future economic
conditions, governmental fiscal and monetary policies, legislative and
regulatory changes, the risks of changes in interest rates, the effects
of competition, and including without limitation to other factors that
could cause actual results to differ materially as discussed in
documents filed by the Company with the Securities and Exchange
Commission from time to time.

(NASDAQ: FSBK)

For More Information Contact: David Thompson (SVP: 910-256-1264)
Randy Woodson (COO: 252-940-4922) or Bruce Elder (CEO: 252-940-4936)
Website: www.firstsouthnc.com

SOURCE First South Bancorp, Inc.