Sound Banking Company Declares 6 For 5 Stock Split

MOREHEAD CITY, N.C., July 23  /PRNewswire-FirstCall/ -- At its regular meeting on Thursday, July 19, 2007, the Board of Directors of Sound Banking Company (SNBN) unanimously approved a six-for-five (6-for-5) stock split to be effected in the form of a 20% stock dividend, announced S. Phillip Collins, president and CEO.  The shares will be distributed August 30, 2007 to shareholders of record as of August 15, 2007.

"As Sound Bank approaches its sixth anniversary, our Board and management are very excited about the future of Sound Bank and want to thank our shareholders for their support. The stock dividend allows us to reward our stockholders with additional shares while preserving capital for additional growth," said Collins.

Shareholders will receive 1 (one) additional share of Sound Banking Company stock for every 5 (five) shares they currently hold.  The spit applies to both common and preferred classes of Sound Bank stock.  Fractional shares will be rounded to the nearest whole number of shares.

Sound Banking Company (OTC:SNBN) (BULLETIN BOARD: SNBN)  is a state chartered bank and offers a full range of financial services.  Sound Bank, headquartered in Morehead City, operates full service offices in Morehead City, Beaufort and Cape Carteret and a loan production office in New Bern, North Carolina. Information about Sound Banking Company and its products and services is available on its web site at: http://www.soundbanking.com/

This news release contains forward-looking statements.  The actual results might differ materially from those projected in the forward-looking statements for various reasons, including our limited operating history, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other savings and financial institutions, and changes in real estate values and the real estate market. 

DATASOURCE: Sound Banking Company



CONTACT:  Phil Collins of Sound Banking Company, [phone]



Web site:  http://www.soundbanking.com/ 

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