CNCP Carolina National Corp (MM)

SPARTANBURG, S.C., Nov. 29 /PRNewswire-FirstCall/ -- First National Bank of the South announced today that Kent S. Dill has joined First National as Senior Vice President and Retail Sales and Service Manager. Jerry Calvert, President and CEO, said, "We are excited to have Kent join the First National team. We are enthusiastic about the experience and energy that he will bring to our bank and look forward to seeing the positive results that come under Kent's and Bob Murdoch's leadership in our retail markets. It is a great pleasure to work with him once again." A Greenville native, Dill most recently served as Executive Vice President - South Carolina Retail with SunTrust Bank (previously American Federal Bank) in Greenville, SC. Dill brings with him over 29 years of banking experience in the Upstate of South Carolina. Robert W. Murdoch, Jr., First National's Executive Vice President and Retail Banking Manager, said, "Kent's considerable banking experience and knowledge of the retail banking industry are valuable assets to the employees in our branch network and the customers we serve across the state." In the past, Dill has served as the Chair of the Greenville United Way Campaign and the United Way Board. He has served as a board member of the Greenville Area Chamber of Commerce, among numerous other community leadership positions. He also serves the Greenville community as one of its six deputy coroners, a duty that he has performed since 1986. COMPANY HIGHLIGHTS First National Bancshares, Inc. is a $574-million asset bank holding company based in Spartanburg, South Carolina. Its common stock is traded on the NASDAQ Global Market under the symbol FNSC. It was incorporated in 1999 to conduct general banking business through its wholly-owned bank subsidiary, First National Bank of the South. First National Bank of the South provides a wide range of financial services to consumer and commercial customers through three operating divisions -- the banking division, small business lending division, and the wholesale mortgage lending division. The banking division operates seven full-service branches in South Carolina, three in Spartanburg County operating as First National Bank of Spartanburg, and four operating as First National Bank of the South in Charleston, Mount Pleasant, Greenville and Greer. First National has also applied with the Office of the Comptroller of the Currency to open its eighth full-service branch at the corner of South Carolina Highway 160 and Stonecrest Boulevard in the Tega Cay community in Fort Mill, South Carolina. First National also operates loan production offices in Columbia, Daniel Island and Rock Hill, South Carolina. First National Bank also operates a small business lending division under the name of First National Business Capital and this division provides small business lending services to customers in the Carolinas and Georgia. First National Bank's wholesale mortgage lending division provides services to community banks and mortgage brokers across the Southeast from its office on North Main Street in Greenville. In addition to these services, First National offers trust and investment management services to its customers through an alliance with Colonial Trust Company, which has offices in Spartanburg and Greenville. Additional information about First National is available online in the Investor Relations section of http://www.firstnational-/ online.com. First National Bancshares, Inc. and Carolina National Corporation (NASDAQ:CNCP) recently announced they have entered into a definitive merger agreement. Following the merger, Carolina National's four Columbia offices will begin operating under the name First National Bank of the South. FORWARD-LOOKING STATEMENTS Certain statements in this press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements concerning our future growth, plans, objectives, expectations, performance, events and the like, as well as any other statements, including those regarding the proposed merger, that are not historical facts and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, including, but not limited to: the businesses of First National and Carolina National may not be integrated successfully or such integration may take longer to accomplish than expected; disruption from the merger may make it more difficult to maintain relationships with clients, associates, or suppliers; the required governmental approvals of the merger may not be obtained on the proposed terms and schedule; shareholders may not approve the merger; changes in worldwide and U.S. economic conditions; changes in the interest rate environment which may reduce the net interest margin; a downturn in the economy or real estate market; greater than expected noninterest expenses or excessive loan losses as a result of changes in market conditions and the adverse impact on the value of the underlying collateral and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. For a more detailed description of factors that could cause or contribute to such differences, please see First National's and Carolina National's filings with the Securities and Exchange Commission. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable though they are inherently uncertain and difficult to predict. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by either company or any person that the future events, plans, or expectations contemplated by either company will be achieved. First National and Carolina National do not intend to and assume no responsibility for updating or revising any forward-looking statement contained in this press release, whether as a result of new information, future events or otherwise. DATASOURCE: First National Bank of the South CONTACT: Jerry L. Calvert of First National Bank of the South, +1-864-594-5690 Web site: http://www.firstnational-online.com/

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