SuffolkFirst Bank to Form First Bankshares, Inc. as Bank Holding Company

SUFFOLK, Va., Feb. 23 /PRNewswire-FirstCall/ -- Darrell G. Swanigan,
President and CEO of SuffolkFirst Bank (Nasdaq: SUFB), a $179 million locally
owned community bank headquartered in Suffolk, Virginia, announced today that
its Board of Directors approved the formation of First Bankshares, Inc., as a
one-bank holding company for the bank subject to regulatory and shareholder
approval. Mr. Swanigan said, "The formation of First Bankshares represents an
important milestone which will enable us to more efficiently manage our
capital and is the next step to enhance our community-oriented philosophy as
we explore other financial related opportunities."
SuffolkFirst Bank (a Virginia chartered Federal Reserve member bank)
opened for business January 27, 2003 and operates three full service offices
in the city of Suffolk. The Bank celebrated its 5th anniversary and the grand
opening of its main office and operations facility today, February 23rd.
SOURCE SuffolkFirst Bank

Darrell G. Swanigan, President & CEO of SuffolkFirst Bank, +1-757-934-8200,
dgs@suffolkfirstbanks.com