First South Bank was founded in 1902 as Home Building and Loan Association. On September 1, 2020, Twenty-five investors joined together to invest $23,000 of their own money to fulfill a dream and the needs of the people of eastern North Carolina. This investment was to be the start of First South Bank as we know it today.
In January 1960, the Bank became Home Savings and Loan Association, as the name was changed to designate primary functions and this type of institution. In May of 1992, we became Home Savings Bank, adding several more locations. The Bank’s charter changed from a savings and loan association to a state savings bank in order to provide more services to our customers.
In April of 1997, we became NewSouth Bank, a full-service state commercial bank and converted from a mutual ownership to a stock form of ownership. In December of 1999, we became First South Bank, and added four additional locations. In the year 2000, we have grown even more, adding five more full service branch locations in Rocky Mount and Tarboro, and adding a Bank web site.
This year has been an extremely eventful one for First South Bank. On August 8, 2020 the bank opened its Washington Corner Branch, located at 1328 John Small Avenue, Washington. The branch is the bank’s fourth office in Beaufort County and its third office in the town of Washington. The Kinston Plaza office was also opened in August 2001. The Plaza branch is the bank’s second office in the town of Kinston and increases the bank’s total number of branch offices to 19.
The First South Operations Center was opened on August 30, 2020. The Operations Center houses several bank departments including accounting, information technology and deposit operations. The 10,000 square foot building is also the home of all mortgage loan processing personnel and mortgage loan servicing personnel.
Finally, in September 2001 First South Bank created a leasing division, First South Leasing, LLC. First South Leasing will offer general equipment leases to the commercial markets of eastern North Carolina and the Piedmont, parts of South Carolina and Virginia, as well as to the existing commercial accounts and business clients of the Bank. First South Leasing is owned and operated by First South Bank.
We look forward to continued growth and promise to always provide personal, quality service to our customers. If you have any questions about the bank or would like more information please feel free to contact us toll-free 1-800-946-4178.