MidSouth Bank announced today that it has received approval from the State of Tennessee, the Federal Reserve, and the FDIC to establish a bank with offices in Murfreesboro and Smyrna. The Bank will be a member of the Federal Reserve System and will have its deposits insured to the maximum amount authorized by law through the FDIC.

       During its organizational phase, MidSouth raised more than $28 million in total capital. This is believed to be a record for a new bank in Tennessee. When asked about this favorable response to the Bank's stock offering when Wall Street seemed to be shunning new stock issues, Chairman and CEO Lee Moss replied: "This represents the significant interest in and commitment to our community by nearly 2,000 families who bought MidSouth Bank stock. We are humbled by the trust shown in us, and we are dedicated to making sure that we give back to the community and to our investors and other stakeholders."

       Senior Chairman Jack Weatherford said, "This is another major step for Rutherford County. Our growing and dynamic community has become a strong economic and demographic force in Tennessee."

       Ben Weatherford, President and COO of MidSouth Bank, stated that the demand for the bank's services has been very encouraging. "We have been getting almost daily calls wanting to know when we will be open. This is just a fantastic response. We have the right team of officers and directors, and we have the right communities in which to work."

       "MidSouth Bank is a full service community bank that will emphasize customer service while offering a complete menu of banking services, including internet banking through the bank's website," Moss concluded. On Thursday evening, January 15, MidSouth Bank (In Organization) held its first shareholder meeting in the sanctuary of the former First United Methodist Church building which will become the bank's main lobby upon renovation. A standing room only gathering of over 400 people attended the meeting at which time the shareholders elected the slate of directors of the bank, and conducted other matters of business pursuant to the bank's opening.

       MidSouth Bank will commence its marketing campaign to the general public at One East College Street, Murfreesboro, Tennessee 37130, the former First United Methodist Church location, and at 201C South Lowry Street, Smyrna, Tennessee 37167, at 9:00 a.m. local time on Monday, February 9, 2004.

       MidSouth Bank is a Rutherford County based community bank with over $28 million in capital with two office locations in Murfreesboro and Smyrna.

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