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Citizens South Bank Is Now Park Sterling Bank

Stocks in this article: PSTB

CHARLOTTE, N.C., Oct. 10, 2012 (GLOBE NEWSWIRE) -- Park Sterling Corporation (Nasdaq:PSTB), the holding company for Park Sterling Bank, today announced that as a part of its October 1, 2012 merger with Citizens South Banking Corporation, Citizens South Bank has merged with and into Park Sterling Bank. Citizens South Bank's 21 branch locations in North Carolina, South Carolina and Georgia are now Park Sterling branches.  

James C. Cherry, Chief Executive Officer of Park Sterling commented, "We are excited to announce this visible evidence of our merger. We are also excited to announce our new advertising campaign – 'What do you get when two strong banks merge? A choice you've never had before.' The campaign ensures our communities and customers that the resources of a larger bank are now available without sacrificing the personal and friendly service they've come to expect from a community bank."

Following the merger, Park Sterling Bank has over $2 billion in total assets and remains one of the best capitalized banks headquartered in the Carolinas. The bank provides a full range of lending, deposit, wealth management, cash management, mortgage banking and retail banking services through 45 offices located in North Carolina, South Carolina and Georgia.   

About Park Sterling Corporation

Park Sterling Corporation is the holding company for Park Sterling Bank, headquartered in Charlotte, North Carolina. Park Sterling's primary focus is to provide financial services to small and mid-sized businesses, owner-occupied and income-producing real estate owners, professionals and consumers doing business or residing within its target markets. Park Sterling offers a full array of banking services, including a diverse wealth management group. Park Sterling is focused on building a regional banking franchise that is noted for sound risk management, superior customer service and exceptional customer relationships. For more information, visit either www.parksterlingbank.com or www.citizenssouth.com . Park Sterling's shares are traded on NASDAQ under the symbol PSTB.

Cautionary Statement Regarding Forward-Looking Statements

This release contains certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts and often use words such as "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would," "will," "goal," "target" and similar expressions. These forward-looking statements represent Park Sterling's current expectations, plans or forecasts of future events, results and conditions, including financial and other estimates and expectations regarding the merger with Citizens South Banking Corporation and other similar matters. These forward-looking statements are not guarantees of future results or performance and by their nature involve certain risks and uncertainties that are based on management's beliefs and assumptions and on the information available to management at the time that these disclosures were prepared. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.

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