WASHINGTON, N.C., April 28, 2017 /PRNewswire/ -- First South
Bancorp, Inc. (NASDAQ: FSBK) (the "Company"), the parent holding
company of First South Bank (the "Bank"), reports that on
April 27, 2017 the Company's Board of
Directors declared a quarterly cash dividend of $0.035 per share, payable May 19, 2017 to shareholders of record as of the
close of business on May 8,
2017.
This dividend payment is the Company's thirteenth consecutive
quarterly cash dividend and represents a payout ratio of 17.5% of
first quarter 2017 diluted earnings per share.
First South Bank has been serving the citizens of eastern and
central North Carolina since 1902
and offers a variety of financial products and services to business
and individual customers. The Bank operates through its main office
headquartered in Washington,
North Carolina, and currently has
28 full service branch offices located throughout eastern and
central North Carolina.
The Bank also provides a full menu of leasing services through
its wholly-owned subsidiary, First South Leasing, LLC. In addition,
under its First South Wealth Management division, the Bank makes
securities brokerage services available through an affiliation with
an independent broker/dealer.
Additional First South Bancorp, Inc. investor information may be
accessed on our 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 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. The Company assumes no obligation and does not intend to
update these forward-looking statements, except as required by
law.
(NASDAQ: FSBK)
For More Information Contact:
Bruce Elder (CEO) (252)
940-4936
Scott McLean (CFO) (252)
940-5016
Website: www.firstsouthnc.com
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visit:http://www.prnewswire.com/news-releases/first-south-bancorp-inc-declares-quarterly-cash-dividend-300447985.html
SOURCE First South Bancorp, Inc.
