COLUMBIA, S.C., April 9 /PRNewswire-FirstCall/ -- First National Bank of the South announced today its Midlands Region senior leadership team. Steven G. Waddell, Senior Vice President and Midlands Market Executive, joins Senior Vice Presidents Mary Ellis Gabriel and Brook Moore in their leadership roles for First National's consumer and commercial banking activities, respectively, in the Midlands region. Rick Manley, Midlands Region Executive Officer, stated, "Brook and Mary Ellis have excelled as part of the former Carolina National leadership team. We are pleased to add Steve to the Midlands Region team as we continue Carolina National's tradition of outstanding customer service in the Columbia market." The Midlands senior leadership team will work closely together as they oversee First National's community, commercial and consumer banking activities in the region. They will also guide and direct team members in the region's four full-service Columbia branches and the new Lexington office scheduled to open in the summer of 2008. First National's President and CEO, Jerry Calvert, said, "We are very pleased with the senior leadership in our newly-formed Midlands region. We look forward to building on Carolina National Bank's existing presence in the Columbia market as we add their employees and customers to the First National family following the recent combination of our two great companies." Steve Waddell, Midlands Market Executive, most recently served as a City/Area Executive with BB&T where he was recognized as a "Sterling Performer" for thirteen consecutive quarters, signifying the top City/Area Executive in a ten-city region. He brings with him over 20 years of industry experience. He was most recently based in Rock Hill, South Carolina where he was responsible for the oversight of a three-county area for BB&T. Waddell attended the University of South Carolina Upstate in Spartanburg and the University of South Carolina in Columbia. Additionally, he graduated from a two-year executive development program for banking and consumer finance at Marquette University in Milwaukee, Wisconsin. Mary Ellis Gabriel, Midlands Consumer Banking Executive, is a Columbia native and has over 14 years of banking experience. She was part of Carolina National Bank's group of original employees when it opened in Columbia in 2002. Prior to joining Carolina National, Gabriel worked for Bank of America (formerly Nations Bank) in various capacities. She holds a bachelor's degree in marketing from Clemson University and an M.B.A. from the University of South Carolina. She currently serves on boards of directors for the American Red Cross of Central South Carolina and for Capital Rotary. Brook Moore, Midlands Commercial Banking Executive, brings with him over 12 years of banking experience. He began his banking career at Carolina First Bank before joining Carolina National Bank's original team in 2002. He holds a Bachelor of Arts degree from Clemson University and is a 2000 graduate of the South Carolina Bankers School. Moore is active in the Columbia community where he is a member of Columbia East Rotary, Clemson University Second Century Society, a youth soccer coach with the YMCA and a 2007 graduate of Leadership Columbia, where he was voted "Most Likely to Take Charge." Steve, Mary Ellis and Brook can be reached at First National's downtown Columbia office located at the corner of Main and Washington Streets at (803) 779-0411. COMPANY HIGHLIGHTS First National Bancshares, Inc. is an $805-million asset bank holding company based in Spartanburg, South Carolina. Its common stock is traded on the NASDAQ Global Market under the symbol FNSC. It was incorporated in 1999 to conduct general banking business through its wholly-owned bank subsidiary, First National Bank of the South. As of January 31, 2008, it acquired 100% of the outstanding stock of Carolina National Bank and Trust Company in a merger with Carolina National Corporation. First National Bank of the South provides a wide range of financial services to consumer and commercial customers. The banking division operates 11 full-service branches, three in Spartanburg County operating as First National Bank of Spartanburg, and eight operating as First National Bank of the South in Columbia, Charleston, Mount Pleasant, Greenville and Greer. The Office of the Comptroller of the Currency ("OCC") has approved the opening of a twelfth full-service branch, which is currently under construction in Lexington, South Carolina. First National has also received approval from the OCC to open its thirteenth full-service branch and York County market headquarters in the Fort Mill/Tega Cay community. First National currently operates loan production offices in Rock Hill, South Carolina and Indian Trail, North Carolina. First National Bank's wholesale mortgage lending division provides services to community banks and mortgage brokers across the Southeast from its office in Greenville. Additional information about First National is available online in the Investor Relations section of http://www.firstnational-online.com/. FORWARD-LOOKING STATEMENTS Certain statements in this press release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements concerning our future growth, plans, objectives, expectations, performance, events and the like, as well as any other statements, including those regarding the merger, that are not historical facts and are thus prospective. Such forward-looking statements are subject to risks, uncertainties, and other factors, including, but not limited to changes in worldwide and U.S. economic conditions, a downturn in economy or real estate market, construction delays and greater than expected non-interest expenses or excessive loan losses, uncertainties resulting from the acquisition of Carolina National Corporation, the continued integration of operations and the cost of combining the banks, whether the transaction will be accretive to First National's shareholders, business disruption following the merger including adverse effects on employees, the quality of Carolina National's assets that First National has acquired, the ability of First National to retain customers of Carolina National following the merger, acceptance of First National's products and services in the Columbia market, changes in worldwide and U.S. economic conditions, a downturn in the economy or real estate market, construction delays and greater than expected non- interest expenses or excessive loan losses and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. For a more detailed description of factors that could cause or contribute to such differences, please see First National's and Carolina National's filings with the Securities and Exchange Commission. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable though they are inherently uncertain and difficult to predict. 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 that the future events, plans, or expectations contemplated by either company will be achieved. First National does not intend to and assumes no responsibility for updating or revising any forward-looking statement contained in this press release, whether as a result of new information, future events or otherwise. DATASOURCE: First National Bank of the South CONTACT: Jerry L. Calvert of First National Bank of the South, +1-864-594-5690 Web site: http://www.firstnational-online.com/

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