Superior Bank To Double Mortgage Banking Team

BIRMINGHAM, Ala., Nov. 24 /PRNewswire-FirstCall/ -- Superior Bank, one of Alabama's leading home mortgage lenders and the major subsidiary of Superior Bancorp (Nasdaq: SUPR) announced today that it plans to double its mortgage banking operation by adding more than 60 people to its existing operation in Alabama.  "We feel there is a tremendous opportunity in both Alabama and Florida not only to increase shareholder value but also to help people achieve their dream of home ownership through the expansion of our mortgage operation," said Rick Gardner, President of Superior Bank. "In the last several years we have invested in new systems, expanded our product offering and built a reputation of delivering a level of service that is worthy of our name, 'Superior'. With our expanding branch network and growing customer base, the opportunity to serve our markets and to become the market leader in home mortgages is tremendous."

The expanded operation will serve customers primarily through the bank branches throughout Alabama.  The bank will also add additional support positions in the Birmingham area to help applicants through the mortgage loan process and to ensure that superior customer service levels are maintained.

Gardner continued, "With 72 bank branches, we want to ensure that we can fulfill our customers' mortgage banking needs in a timely manner.  This expansion will allow us to significantly increase the number of customers we can serve in our communities and to demonstrate the value that customers receive when doing business with Superior.  We see the mortgage business as core to our relationship with consumers, and we plan to continue taking advantage of opportunities to expand this business line in Alabama and Florida over the next several years."

About Superior Bancorp

Superior Bancorp is a $3.2 billion thrift holding company headquartered in Birmingham, Alabama. The principal subsidiary of Superior Bancorp is Superior Bank, a Southeastern community bank that currently has 72 branches, with 44 locations throughout the state of Alabama and 28 locations in Florida.  Superior Bank also operates 23 consumer finance offices in North Alabama as 1st Community Credit and Superior Financial Services.