EASLEY, S.C., July 3, 2006 (PRIMEZONE) -- CommunitySouth Bancshares, Inc. (OTCBB:CBSO) announced today that the Bank has surpassed $200 million in total assets.
"In less than 18 months since we opened, the Bank has eclipsed the $200 million mark," said C. Allan Ducker, III, Chief Executive Officer of CommunitySouth Bank & Trust. "We are very proud of this tremendous accomplishment, which makes us the fastest growing community bank in South Carolina. Our growth, coupled with the Bank's overall performance, confirms the market's acceptance of our intense customer-focused business model."
CommunitySouth Bancshares, Inc. commenced operations in the Upstate on January 18, 2005. Fueled by the largest initial public offering ever for a bank in South Carolina, the company capitalized with $30 million. Heralded as the fastest growing start-up bank in South Carolina, CommunitySouth has grown total assets to over $200 million.
CommunitySouth is headquartered in Easley, SC and plans to cover the entire Upstate market. Currently the bank operates three full-service offices in Easley, Mauldin and Spartanburg, and plans to open full-service offices in Anderson, in July, and in Greer, in late 2006. The Bank also operates a Loan Production Office in Greenwood.
CommunitySouth offers a complete line of banking products and services, including commercial, consumer and mortgage loans, personal and business checking and savings accounts, free online banking with bill pay, a nationwide free ATM network, free business courier service, automated telebanc, courtesy overdraft coverage, and more.
For additional information about CommunitySouth, call 864-306-2540 or visit www.communitysouthbankandtrust.com.
The CommunitySouth Bank & Trust logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2708
Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans and expectations, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, such as a downturn in the economy, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements.
Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, we can give no assurance that the results contemplated in the forward-looking statements will be realized. The inclusion of this forward-looking information should not be construed as a representation by our company or any person that the future events, plans, or expectations contemplated by our company will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.