FLB First Natl Bancshares Fla

Shareholders Approve Merger of First National Bankshares of Florida, Inc. and Southern Community Bancorp NAPLES, Fla., Sept. 2 /PRNewswire-FirstCall/ -- First National Bankshares of Florida, Inc. (NYSE:FLB) and Southern Community Bancorp jointly announced today that shareholders of both companies have approved the acquisition of Southern Community by First National. The merger has received regulatory approval and is scheduled to close in the next few days. (Logo: http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO ) Under terms of the transaction, Southern Community's three subsidiary banks will merge with and into First National Bankshares' wholly owned subsidiary, First National Bank of Florida. The combined company, headquartered in Naples, Florida, will have more than $5.2 billion in total assets, $3.9 billion in deposits and 74 full-service financial centers. "We are pleased by the overwhelming support for the merger from shareholders," said Gary L. Tice, Chairman and Chief Executive Officer of First National Bankshares. "This transaction will enable us to significantly expand our financial services operations in the greater Orlando area while opening up brand new opportunities on Florida's East Coast." Headquartered in Orlando, Florida, Southern Community Bancorp is the holding company for Southern Community Bank of Central Florida, Southern Community Bank of Southwest Florida and Southern Community Bank of South Florida. As of June 30, 2004, the company had more than $1 billion in total assets and $887 million in deposits with 18 offices serving Naples, Bonita Springs, Fort Myers, Orlando, Altamonte Springs, Lake Mary, Longwood, Winter Park, Daytona Beach, Port Orange, Ormond Beach, Boca Raton, North Fort Lauderdale, Palm Beach, Palm Beach Gardens and West Palm Beach. "This partnership will enable us to better serve our customers with expanded products and services and more convenient locations," said Charlie W. Brinkley, Jr., Chairman and Chief Executive Officer of Southern Community Bancorp. "We look forward to being a part of the First National team and continuing to grow throughout the state of Florida." Headquartered in Naples, Florida, First National Bankshares of Florida is a $4.2 billion diversified financial services company. In addition to traditional community banking, the company provides a complete line of insurance and wealth management services with 58 full-service financial centers located throughout Southwest and Central Florida. The company's stock is traded on the New York Stock Exchange under the symbol "FLB." On June 30, 2004, First National Bankshares announced the planned acquisition of First Bradenton Bank. Headquartered in Bradenton, Florida, First Bradenton has $63.9 million in assets and $58.8 million in deposits with one banking location. Once the merger is completed, First National Bankshares will have more than $5.3 billion in total assets and $3.9 billion in total deposits with 75 full-service financial centers located throughout South and Central Florida, including the pending acquisition of Southern Community. On August 2, 2004, First National Bankshares of Florida and Fifth Third Bancorp announced the signing of a definitive agreement in which Fifth Third will acquire First National Bankshares and its subsidiaries. The acquisition is expected to close in the first quarter of 2005 and is subject to normal regulatory approvals in addition to the approval of First National's shareholders. Upon completion of this transaction, Fifth Third will have more than $6.3 billion in total assets and 90 banking centers in the state of Florida. Headquartered in Cincinnati, Ohio, Fifth Third is a diversified financial services company with $95.6 billion in total assets and 995 banking centers in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee and West Virginia. The company's common stock is traded through the Nasdaq National Market System under the symbol "FITB." Except for historical information contained herein, the statements made in this press release constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve certain risks and uncertainties, including statements regarding the Company's strategic direction, prospects and future results. Certain factors, including those outside the Company's control, may cause actual results to differ materially from those in the forward-looking statements, including economic and other conditions in the markets in which the Company operates; risks associated with acquisitions, competition, seasonality and the other risks discussed in our filings with the Securities and Exchange Commission, which discussions are incorporated in this press release by reference. CONTACT: Clay W. Cone Vice President, Director of Corporate Communications 239-436-1676 http://www.newscom.com/cgi-bin/prnh/20031230/FNBFLOGO http://photoarchive.ap.org/ DATASOURCE: First National Bankshares Of Florida, Inc. CONTACT: Clay W. Cone, First National Bankshares Of Florida, Inc., Vice President, Director of Corporate Communications, +1-239-436-1676 Web site: http://www.firstnationalbankshares.com/

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