ASFN Atlantic Southern Financial Grp., Inc. (MM)

MACON, Ga., Sept. 26 /PRNewswire-FirstCall/ -- Atlantic Southern Financial Group (NASDAQ:ASFN) and its subsidiary, Atlantic Southern Bank, have announced its expansion into the northeast region of Florida. The company has plans to open its first branch in Jacksonville by November 30th. "The move fits with our overall strategy of increasing deposits in addition to increasing shareholder value," said President and CEO Mark Stevens. Although Atlantic Southern may be considered new to the Duval County, Florida financial landscape, Stevens stated, "There are enough assets and deposits to support the operation." He estimated the area's growing deposit market to be nearly $28 billion. In August, Atlantic Southern announced its intentions to purchase the charter of CenterState Bank Mid Florida, a subsidiary of CenterState Banks of Florida, Incorporated. At that time Stevens stated, "Buying the charter was a quick and economical way to branch into Florida." About Atlantic Southern Financial Group, Inc and Atlantic Southern Bank With headquarters in Macon, Georgia, Atlantic Southern Financial Group, Inc., operates nine banking locations in the middle Georgia markets of Macon and Warner Robins and six locations in the coastal markets of Savannah, Darien, Brunswick and St. Simons Island, Georgia and a loan production office in Valdosta, Georgia. The Company specializes in commercial real estate and small business lending. Safe Harbor This news release contains forward-looking statements, as defined by Federal Securities Laws, including statements about financial outlook and business environment. These statements are provided to assist in the understanding of a future financial performance and such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. Any such statements are based on current expectations and involve a number of risks and uncertainties. For a discussion of factors that may cause such forward-looking statements to differ materially from actual results, please refer to the section entitled "Forward- Looking Statements" in Atlantic Southern Financial Group, Inc.'s annual report filed on Form 10-K with the Securities and Exchange Commission. DATASOURCE: Atlantic Southern Financial Group CONTACT: Jean Stroud, or Mark A. Stevens, +1-478-330-5814, both of Atlantic Southern Financial Group Web site: http://www.atlanticsouthernbank.com/

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