Southcoast Announces Stock Buy Back

* Reuters is not responsible for the content in this press release.

Tue Jan 22, 2008 12:08pm EST 

MT. PLEASANT, S.C., Jan. 22, 2008 (PRIME NEWSWIRE) -- Southcoast Financial
Corporation (Nasdaq:SOCB) announced today that its Board of Directors has
authorized the repurchase of up to 484,527 shares of its common stock (ten
percent of outstanding shares at January 15, 2008). Purchases will be in the
open market and block trades will be permitted, all in accordance with Rule
10b-18 under the Securities Exchange Act of 1934. Purchases will be transacted
through one or more brokerage firms determined by the Company's management.

Southcoast Financial Corporation, headquartered in Mt. Pleasant, South 
Carolina, is the holding company of Southcoast Community Bank. The  Bank, which
opened for business July 20, 1998, is a state chartered  commercial bank
operating from its main office at 530 Johnnie Dodds  Boulevard in Mt. Pleasant,
South Carolina. Trading in Southcoast Financial

Corporation's common stock is reported on NASDAQ under the symbol  SOCB.

-0-
CONTACT:  Southcoast Financial Corporation
          William C. Heslop, Senior Vice President and
           Chief Financial Officer
          (843) 216-3019
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.