MIDSOUTH BANK (In Organization) has exceeded its initial goal of $15 million in stock subscriptions by more than 60% in little more than three and a half months from the initial subscription date. Over 1400 individuals have subscribed to more than $25 million dollars in stock since late March of this year. The announcement was made today by the senior management team of the new community bank in organization, Jack O. Weatherford, Senior Chairman, Lee Moss, Chairman & CEO, and Ben Weatherford, President.

         In making the announcement, the senior management team expressed gratitude and appreciation to the Rutherford County community for the tremendous response to the organization of this locally owned and operated community bank. The subscription of over $25 million in capital for a new bank is unprecedented in the history of the county and could possibly exceed the amount of capital ever raised by a new community bank in Tennessee.

         In an attempt to better serve the business community by raising additional capital for increased loans, services, and locations, the organizers of the bank have agreed to extend the subscription period through mid-September. The subscription period will extend until the Commissioner of the State Department of Financial Institutions approves the bank's charter. Upon approval of the charter, the bank will request that monies be collected for the stock subscriptions, which is anticipated to occur by mid-October.

         Additional stock subscriptions many be obtained by calling the bank at 615-278-7100 or visiting their new location in the educational wing of the former First United Methodist Church building on North Church Street, two blocks north of the square and across from the The Center for the Arts. Additional information concerning MIDSOUTH BANK (In Organization) can be found on the web at www.midsouthbanking.com.

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