First South Bank

First South Bank was established in 1902 under the name Home Savings and Loan Association. Over the years, it underwent several name and organizational changes. On May 22, 1992, it became known as Home Savings Bank, SSB, and transitioned to a mutual savings bank. This was followed by a rebranding to NewSouth Bank on April 7, 1997, coinciding with its change to a commercial bank. On November 30, 1999, First South Bank was officially adopted as the institution's name, and the bank acquired Home Federal Savings and Loan Association in Fayetteville, North Carolina, during the same year. In a significant merger on November 1, 2017, First South Bank became part of CresCom Bank in Charleston, South Carolina. The bank’s history concluded with its final merger on May 1, 2020, when it became part of United Bank, headquartered in Fairfax, Virginia.

Below is a list of some important events in banks history, including mergers and acquisitions.

1902-01-01Institution established. Original name: Home Savings and Loan Association.

1989-03-31Main Office moved to 1311 Carolina Avenue, Washington, NC 27889.

1992-05-22Changed Organization Type to Mutual Savings Bank.

1992-05-22Changed Institution Name to Home Savings Bank, Ssb.

1997-04-07Changed Organization Type to Commercial Bank.

1997-04-07Changed Institution Name to NewSouth Bank.

1999-11-30Changed Institution Name to First South Bank.

1999-11-30Acquired Home Federal Savings and Loan Association in Fayetteville, NC.

2017-11-01Merged and became part of CresCom Bank in Charleston, SC.

2020-05-01Merged and became part of United Bank in Fairfax, VA.