November
29, 2007
Dear
Shareholder:
On
behalf
of our Boards of Directors and employees, thank you for your continued support
of First National Bank and Carolina National Bank. We are excited about the
opportunity to join these two great banks to create a premier community banking
franchise in South Carolina.
By
now,
you should have received the joint proxy statement/prospectus which was mailed
on or about November 9, 2007.
You
are advised to read the joint proxy statement/prospectus
1
because
it contains important information about the merger.
The
Boards of Directors of both companies have each approved the merger of Carolina
National with and into First National.
Both
Boards of Directors unanimously recommend that the shareholders of each company
vote to approve the merger.
As
a
reminder, we will be holding special meetings for our shareholders to vote
on
the merger. The places, dates and times of the special meetings for each
company
are as follows:
|
Carolina
National Shareholders
|
|
First
National Shareholders
|
|
Columbia
Marriott
|
|
Spartanburg
Marriott at Renaissance Park
|
|
Palmetto
Room II
|
|
The
Daniel Morgan Room
|
|
1200
Hampton Street
|
|
299
North Church Street
|
|
Columbia,
SC 29201
|
|
Spartanburg,
SC 29306
|
|
December
11, 2007, 10:00 a.m.
|
|
December
13, 2007, 10:00 a.m.
|
If
you
are unable to attend this meeting, please complete the appointment of proxy
that
was enclosed with the joint proxy statement prospectus. This card is located
inside the front of the envelope, serving as the mailing address. If you
have
already returned your proxy card, no further action is required on your part.
If
you have misplaced your proxy card, you may request a replacement by contacting
Laura Austill or Allyson Caddell at (864) 948-9001.
1
You may also obtain a free copy of the
joint proxy statement/prospectus, as well as other filings containing
information about First National and Carolina National, at the SEC’s internet
site (http://www.sec.gov). Free copies of the joint proxy statement/prospectus
and each company’s filings with the SEC may also be obtained from the respective
companies. Free copies of First National’s filings may be obtained by directing
a request by December 3, 2007, to First National Bancshares, Inc., 215 N.
Pine
St., Spartanburg, SC, 29302, Attention: Jerry L. Calvert. Free copies of
Carolina National’s filings may be obtained by directing a request by December
3, 2007, to Carolina National Corporation, 1350 Main St., Columbia, SC 29201,
Attention: Roger B. Whaley.
As
always, we appreciate your investment and interest in our company, and we
look
forward to serving you in the future.
Best
Regards,
|
|
|
|
|
|
|
Jerry
L. Calvert
|
Roger
B. Whaley
|
|
President
& CEO, Vice Chairman
|
President
& CEO
|
|
First
National Bank of the South
|
Carolina
National Bank
|