First State Financial Corporation Announces Closing of Common Stock Offering

First State Financial Corporation Announces Closing of Common
Stock Offering 


SARASOTA, Fla., Jan. 6  /PRNewswire-FirstCall/ -- First State Financial Corp.
(NASDAQ:FSTF), the financial holding company of First State Bank, having
offices in both Sarasota and Pinellas Counties, has closed the sale of
2,446,625 shares of its common stock at a price of $12.00 per share before
commissions and expenses.  The shares were sold on a firm commitment basis
through Advest, Inc.  The net proceeds of the offering will be used to provide
capital to support continued loan and deposit growth, and mergers or
acquisitions.

Corey J. Coughlin, President and Chief Executive Officer of First State
Financial Corp. and First State Bank, stated, "This successful common stock
offering will provide the capital to continue our strategic growth initiatives
throughout Southwest Florida.  We welcome our new shareholders and resolve to
continue our commitment to quality community banking."

First State Bank is a wholly owned subsidiary of First State Financial
Corporation.  First State Bank has been in operation since October 1988 and its
mission is to provide high quality financial products with personalized
customer service.  First State Bank's main office is in Sarasota, Florida and
has five branch offices, two located in Sarasota, two located in St. Petersburg
and one in Seminole, Florida.  As of December 31, 2004, the Company had total
consolidated assets of $274,003,822, net total loans of $224,394,735, deposits
of $212,679,100 and stockholders' equity of $41,603,090.

For further information, please contact Corey J. Coughlin, President and CEO,
at 941-330-1865. 

DATASOURCE: First State Financial Corporation



CONTACT:  Corey J. Coughlin, President and CEO of First State Financial

Corporation, [phone]



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

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