Dear Shareholder:
Accompanying this letter is the Notice of Special Meeting, Proxy Statement, and proxy card for Four Oaks Fincorp, Inc.’s Special Meeting of Shareholders to be held on November 8, 2016. Whether or not you plan to attend the meeting in person, please submit voting instructions for your shares promptly using the directions on your proxy card to vote by one of the following methods: (1) by telephone, by calling the toll-free telephone number printed on your proxy card; (2) over the Internet, by accessing the website address printed on your proxy card; or (3) by marking, dating and signing your proxy card and returning it in the accompanying postage-paid envelope. If you do attend the Special Meeting, you can revoke your proxy and vote in person.
The Special Meeting will begin at 10:00 a.m. on Tuesday, November 8, 2016, in the training center of the company’s principal offices, located at 5987 U.S. 301 South, Four Oaks, North Carolina. At the Special Meeting, our shareholders will vote to approve an amendment to our Articles of Incorporation to effect a one-for-five reverse stock split of our authorized, issued and outstanding common stock and transact any other business properly brought before the meeting. Although a reverse stock split proposal was previously approved at our 2016 Annual Meeting of Shareholders, we are submitting a new proposal to our shareholders for approval in order to modify how the company will address fractional shares resulting from the reverse stock split and to extend the period of time during which the board of directors may exercise its discretionary authority to effect the reverse stock split.
As always, we hope to see you at the Special Meeting, and please remember to vote your shares as directed on your proxy card provided as soon as possible.
Sincerely yours,
/s/ David H. Rupp
David H. Rupp
Chief Executive Officer and President
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