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Robert F. Lowe, Chairman, President and CEO of LSB Bancshares, Inc.
(NASDAQ:LXBK) and Pressley A. Ridgill, President and CEO of FNB
Financial Services Corporation (NASDAQ:FNBF) are pleased to announce the
executive management team of the new merged bank that will be created
when the merger agreement of the two banks is finalized by the end of
the third quarter 2007.
Pressley A. Ridgill, who was named President and CEO of the new bank on
Feb. 27, will report to Mr. Lowe along with Monty Oliver, Executive Vice
President of Finance.
Reporting to Mr. Ridgill will be Frank Sherron, Sr. Executive Vice
President, Corporate Business Development and Strategic Initiative; Wes
Budd, Executive Vice President, Chief Credit Officer; Mike Shelton,
Executive Vice President, Chief Financial Officer; Robert Lineback,
Executive Vice President, Retail Banking Administration, Sales and
Service, Investments and Trust.
Also, Rick Webster, Executive Vice President, Mortgage Banking,
Shenandoah Valley Region, Rockingham County Region, Peoples Finance,
Indirect Lending, Credit Card and Construction Lending; Richard
Ballentine, Executive Vice President, Chief Information Officer; David
Barksdale, Regional President, LSB Market Area; Paul McCombie, Regional
President, Coastal Area; Robin Hager, Executive Vice President, Human
Resources, Marketing and Training; and Robin Huneycutt, Executive Vice
President, Board Relations. A Regional President of the Greensboro Area
and an Internal Audit executive will be named at a later date.
“The integration of our two banks starts with
the naming of this management team,” said Mr.
Lowe. “They will begin to review and define
best practices and will put together the best capabilities from each
company.”
“We have selected a strong team”
said Mr. Ridgill. “This team will ensure we
have common philosophies by area and will build the organizational
structure to deliver the action plans that will be developed to bring us
together at the closing.”
For more information about the signing of the merger agreement, go to www.lsbnc.com
or www.fnbsoutheast.com
Additional Information and Where To Find It
In connection with the merger, LSB will file a registration statement,
which will include a joint proxy statement/prospectus to be sent to each
company’s shareholders, and each of LSB and
FNB may file other relevant documents concerning the merger with the
Securities and Exchange Commission (the “SEC”).
Stockholders are urged to read the registration statement and the joint
proxy statement/prospectus regarding the merger when they become
available and any other relevant documents filed with the SEC, as well
as any amendments or supplements to those documents, because they will
contain important information.
You will be able to obtain a free copy of the joint proxy
statement/prospectus, as well as other filings containing information
about LSB and FNB, at the SEC’s website (WWW.SEC.GOV).
You will also be able to obtain these documents, free of charge, by
accessing LSB’s website (WWW.LSBNC.COM),
or by accessing FNB’s website (WWW.FNBSOUTHEAST.COM).
Participants in the Solicitation
LSB and FNB and their respective directors and executive officers may be
deemed to be participants in the solicitation of proxies from the
shareholders of LSB and/or FNB in connection with the merger.
Information about the directors and executive officers of LSB is set
forth in LSB’s Form 10-K, as filed with the
SEC on March 16, 2007. Information about the directors and executive
officers of FNB is set forth in FNB’s Form
10-K, as filed with the SEC on March 16, 2007. Additional information
regarding the interests of those participants and other persons who may
be deemed participants in the transaction may be obtained by reading the
joint proxy statement/prospectus regarding the merger when it becomes
available. You may obtain free copies of these documents as described
above.