Tangible book value as of March 31, 2014 was $7.56

Source: 10-Q (posting from tablet..not able to provide link).

Market value: $7.95

First South Bancorp, Inc. Reports Quarterly Loan and Asset Growth, Improved Asset Quality and Year-to-Date Increase in Operating Results

http://finance.yahoo.com/news/first-south-bancorp-inc-reports-183000021.html

FSBK

approaching good first entry point, IMO!

check the weekly chart support MA (40) @ $6.15. If this does not hold $5 could print quick, so scaling into position here!

http://stockcharts.com/freecharts/gallery.html?s=fsbk

good luck!

First South Bancorp, Inc. Reports Increase in June 30, 2013 Quarterly and Six Months Operating Results

WASHINGTON, N.C., July 18, 2013 /PRNewswire/ -- First South Bancorp, Inc. (NASDAQ: FSBK) (the "Company"), the parent holding company of First South Bank (the "Bank"), reports its unaudited operating results for the quarter and six months ended June 30, 2013.

For the 2013 second quarter, net income increased 12.7% to $1.8 million, or $0.18 per diluted common share, compared to net income of $1.6 million, or $0.16 per diluted common share for the linked 2013 first quarter, and increased 267.1% when compared to net income of $481,000, or $0.05 per diluted common share, earned for the comparative 2012 second quarter. Net income for the first six months of 2013 increased 253.4% to $3.3 million, or $0.34 per diluted common share, compared to net income of $943,000, or $0.10 per diluted common share earned in the first six months of 2012.

The improvement in earnings for the first six months of 2013, as compared to the first six months of 2012, is primarily attributed to an increase in core non-interest income, a reduction in the provision for credit losses and a decrease in non-interest expenses. These improvements were partially offset by a decline in net interest income due to our lower level of earning assets.

Bruce Elder, President and CEO, commented, "We previously disclosed the execution of a bulk sale of problem loans and took a significant valuation adjustment on OREO that were reflected in our 2012 fourth quarter results. Our 2013 operating results reflect the positive impact of those actions. Although the lower average volume of earning assets resulted in a decline in net interest income when compared with the 2012 reporting periods, improvement in provisions for loan losses, recurring non-interest income and non-interest expenses specifically related to the maintenance and valuation charges of OREO have driven earnings higher. Our focus for the second half of 2013 will be to grow earning assets and reposition our balance sheet to protect against a rising interest rate environment."


[....]

http://ih.advfn.com/p.php?pid=nmona&article=58464348

Tangible book value per common share is $7.14

Mr. Markets' price on July 22, 2013 was $6.79

We kick a lot tires in our work.

As you know, not everyone is a "buy". 56Chevy is doing more prospecting than me these days because my schedule is hectic right now. He also knows I eventually will review his posts.

Buying banks at discount to book value is better than paying a premium for one with same ROA.

Consolidation is just starting.

Hey LM...good to see you.

EI hasn't seen this one yet but I know he would notice the same thing in that most of their earnings this qtr came from reversing llp.

I really had no interest in this bank from an investment stand-point but it is a decent acquisition target for someone else and for that reason put it on the map.

They don't owe TARP. They're well capitalized now and they're as close to "normal" now as they've ever been since the banking melt-down of 07/08.

BV is $7.73 so it can be bought at a 15% discount right now.

There are 19 different 13F filers who hold this stock.

http://whalewisdom.com/stock/fsbk

They do still have $11.3MM in OREO that needs to go away but all in all I think it's a very solid bank.

The CEO says "they're not for sale" but what I hear in that is "the offer was too low...come again". lol..

I wouldn't be afraid of owning this bank at all!

I noticed that a good chunk of earnings were made up of reversing loan loss provisions. You guys know your banks. Where's EI's head on this one?

Quarterly Report (10-q)

Date : 05/14/2013 @ 9:04AM
Source : Edgar (US Regulatory)
Stock : First South Bancorp (MM) (FSBK)
Quote : $6.49 0.11 (1.72%) @ 4:02PM

WASHINGTON, North Carolina, April 18, 2013 /PRNewswire/ -- First South Bancorp, Inc. (NASDAQ: FSBK) (the "Company"), the parent holding company of First South Bank (the "Bank"), reports its unaudited operating results for the quarter ended March 31, 2013.

For the 2013 first quarter, net income increased 239.1% to $1.6 million, or $0.16 per diluted common share, compared to net income of $462,000, or $0.05 per diluted common share, earned for the comparative 2012 first quarter.

[....]

http://ih.advfn.com/p.php?pid=nmona&article=57225256

*This bank is a solid performer.

~ Tuesday! $FSBK ~ Q2 Earnings expected today or coming soon! In Charts and Links Below!

~ $FSBK ~ Earnings expected on Tuesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=FSBK&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=FSBK&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=FSBK
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=FSBK#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=FSBK+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=FSBK
Finviz: http://finviz.com/quote.ashx?t=FSBK
~ MarketWatch: http://www.marketwatch.com/investing/stock/FSBK/insideractions


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=FSBK >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

First South Bancorp, Inc. serves as the holding company for First South Bank, a North Carolina-chartered commercial bank (the Bank). The Company’s principal business is overseeing the business of the Bank and operating, through the Bank a commercial banking business. The Bank operates in one segment, which includes providing of commercial banking services to its markets located in the state of North Carolina. The Bank’s principal business consists of attracting deposits from the general public and investing these funds in commercial real estate loans, commercial business loans, consumer loans and loans secured by first mortgages on owner-occupied, single-family residences in the Bank’s market area. The Bank derives its income principally from interest and fees earned on loans and investments, loan servicing and other fees, gains on the sale of loans and investments, and service charges and fees collected on deposit accounts.

http://www.google.com/finance?q=FSBK