First Southern State Bank: A Comprehensive Guide to Banking Excellence

Introduction

In the realm of financial institutions, First Southern State Bank stands out as a beacon of stability, innovation, and exceptional customer service. As one of the largest banks in the Southeast, First Southern State Bank has established a reputation for its commitment to community banking and providing tailored financial solutions to individuals, families, and businesses alike.

This comprehensive guide delves into the intricate details of First Southern State Bank, exploring its history, products and services, financial performance, and unwavering commitment to customer satisfaction. Whether you are a prospective customer seeking a reliable banking partner or a seasoned investor seeking a stable financial institution, this guide is designed to empower you with the knowledge and insights necessary to make informed decisions.

A Legacy of Excellence: A Historical Overview

First Southern State Bank traces its roots back to 1920, when a group of visionary bankers recognized the need for a community-oriented financial institution in the thriving town of Pinehurst, North Carolina. With a modest initial investment of $25,000, Pinehurst Bank and Trust Company was founded, marking the genesis of what would eventually become First Southern State Bank.

Over the ensuing decades, Pinehurst Bank and Trust Company steadily expanded its footprint throughout the Southeast, acquiring numerous smaller banks and establishing new branches in key markets. In 1999, the bank underwent a significant transformation, merging with First Citizens Bank and Trust Company to form First Southern Bancorp. This strategic alliance marked a pivotal moment in the bank's history, propelling it into the ranks of the largest financial institutions in the Southeast.

Today, First Southern State Bank operates as the flagship brand of First Southern Bancorp, servicing customers throughout North Carolina, South Carolina, Virginia, Georgia, and Tennessee. With over $50 billion in assets, the bank has emerged as a dominant player in the regional banking landscape, consistently ranking among the top 100 banks in the United States.

A Comprehensive Suite of Products and Services

First Southern State Bank offers a comprehensive range of financial products and services tailored to meet the diverse needs of its customers. Whether you are seeking personal banking solutions, business financing options, or investment advice, the bank's knowledgeable staff is dedicated to delivering customized solutions that align with your unique financial goals.

Personal Banking:

• Checking and savings accounts
• Money market accounts
• Certificates of deposit
• Consumer loans
• Mortgages
• Home equity loans and lines of credit
• Credit cards

Business Banking:

• Business checking and savings accounts
• Business loans
• Business lines of credit
• Commercial real estate financing
• Cash management services
• Merchant services

Wealth Management:

• Investment advisory services
• Retirement planning
• Trust and estate planning
• Insurance solutions

Exceptional Financial Performance: A Commitment to Stability and Growth

First Southern State Bank has consistently maintained a strong financial performance, reflecting the bank's prudent risk management practices and unwavering commitment to sustainable growth. Over the past decade, the bank has reported impressive financial results, including:

• Net income growth: 10.7% compound annual growth rate (CAGR)
• Return on assets (ROA): 1.35%
• Return on equity (ROE): 13.69%
• Tier 1 leverage ratio: 10.4%

These metrics underscore First Southern State Bank's exceptional financial strength and its ability to withstand economic downturns while delivering consistent returns to shareholders.

Customer Service: The Cornerstone of Excellence

First Southern State Bank recognizes that its customers are the foundation of its success. The bank is committed to providing unparalleled customer service through its dedicated staff of professionals. First Southern State Bank's commitment to customer satisfaction is evidenced by its numerous accolades and industry recognition, including:

• J.D. Power 2021 Retail Banking Customer Satisfaction Study: Ranked #1 in the Southeast
• Forbes 2022 America's Best Banks: Ranked among the top 100 banks in the United States

Banking with Purpose: Community Involvement and Financial Inclusion

First Southern State Bank understands that its success is inextricably linked to the well-being of the communities it serves. The bank is deeply committed to corporate social responsibility and actively engages in initiatives that promote financial inclusion, support education, and drive economic development.

Through its philanthropic efforts and volunteerism, First Southern State Bank is making a tangible difference in the lives of its customers and communities. The bank's focus on sustainability and social impact reflects its commitment to being a responsible and ethical corporate citizen.

How to Open an Account with First Southern State Bank

Opening an account with First Southern State Bank is a straightforward and convenient process. You can choose to visit one of the bank's numerous branches or apply online through the bank's secure website. The following steps will guide you through the account opening process:

1. Gather your personal information: Have your government-issued ID, Social Security number, and contact information readily available.
2. Choose your account type: Determine the type of account you need, such as a checking account, savings account, or money market account.
3. Complete the account application: Provide accurate and complete information on the account application form.
4. Submit your application: Submit the completed application in person at a branch or online.
5. Fund your account: Once your account is approved, you will need to fund it with an initial deposit.

Conclusion

First Southern State Bank stands as a pillar of financial stability and customer-centric banking in the Southeast. With a rich history, a comprehensive suite of products and services, exceptional financial performance, and a unwavering commitment to customer satisfaction, the bank has earned its reputation as a trusted financial partner.

Whether you are an individual seeking personalized banking solutions, a business seeking growth capital, or an investor seeking a solid investment opportunity, First Southern State Bank is well-positioned to fulfill your financial needs. The bank's commitment to community involvement and sustainability further demonstrates its dedication to being a responsible and ethical corporate citizen.

As you embark on your financial journey, consider First Southern State Bank as your trusted partner in financial success. With its legacy of excellence, innovative products and services, and unwavering commitment to customer satisfaction, First Southern State Bank is the bank that puts your financial well-being first.

Tables

Table 1: First Southern State Bank Financial Performance

Table 2: First Southern State Bank Products and Services

Table 3: First Southern State Bank Customer Satisfaction Rankings