Mountain 1st Bank & Trust Company News

Kelly Farr Joins Mountain 1st Bank

HENDERSONVILLE, N.C. and HICKORY, N.C., June 18 PRNewswire-FirstCall — Mountain 1st Bank & Trust Company (OTC Bulletin Board: FFIS) reported today that Mr. Kelly A. Farr has joined the bank as Senior Vice President and Market President. Mr. Farr is expected to lead the Bank's expansion efforts in Hickory, Catawba County and the surrounding areas. As its initial office in Catawba County, Mountain 1st expects to open a full service banking facility at 1880 Highway 127 North in Hickory within the next three to four months, pending regulatory approvals.

Greg Gibson, CEO stated, "We are thrilled to have Kelly, Lorie and family join the Mountain 1st family. We believe Kelly will be a wonderful fit with Mountain 1st. He has had great experience with one of the premier community banking companies in the country and already understands much of our business model. Kelly understands that community banking is all about people and personal relationships and this mirrors the fundamental culture upon which Mountain 1st operates. Hickory and Catawba County have long demonstrated an appreciation for community banking and the personal care such institutions provide to their customers. We look forward to being able to bring Mountain 1st Bank's unique brand of community banking to the area. We believe that individuals and businesses in the area will quickly come to enjoy the many things that make Mountain 1st unique and which have made us one of the fastest growing new banks in America over the past four years."

This Press Release and its exhibits contain statements relating to our financial condition, results of operations, plans, strategies, trends, projections of results of specific activities or investments, expectations or beliefs about future events or results, and other statements that are not descriptions of historical facts. Those statements may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" "opportunity," or "continue," or similar terms or the negative of these terms, or other statements concerning opinions or judgments of our management about future events. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in our Annual Report on Form 10-K and in other reports we file with the Federal Deposit Insurance Corporation from time to time. Other factors that could influence the accuracy of those forward-looking statements include, but are not limited to: (a) the financial success or changing strategies of our customers; (b) customer acceptance of our services, products and fee structure; (c) changes in competitive pressures among depository and other financial institutions or in our ability to compete effectively against larger financial institutions in our banking market; (d) actions of government regulators, or changes in laws, regulations or accounting standards, that adversely affect our business; (e) our ability to manage our growth and to underwrite increasing volumes of loans; (f) the impact on our profits of increased staffing and expenses resulting from expansion; (g) changes in the interest rate environment and the level of market interest rates that reduce our net interest margin and/or the volumes and values of loans we make and securities we hold; (h) weather and similar conditions that affect our customers in the markets we serve; (i) changes in general economic or business conditions and the real estate market in our banking market (particularly changes that affect our loan portfolio, the abilities of our borrowers to repay their loans, and the values of loan collateral); and (j) other developments or changes in our business that we do not expect. Although our management believes that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. All forward-looking statements attributable to us are expressly qualified in their entirety by the cautionary statements in this paragraph. We have no obligation, and do not intend, to update these forward-looking statements.

About Mountain 1st Bank

Mountain 1st Bank is a wholly owned subsidiary of 1st Financial Services Corporation which is one of only a few publicly traded companies headquartered in western North Carolina (OTCBB: FFIS). Mountain 1st, established in mid 2004 and headquartered in Hendersonville, NC, is one of the fastest growing and most successful de novo community banks in the southeast. With over $670 million in assets, Mountain 1st Bank & Trust's more than 160 employees currently serve nine counties in western North Carolina through fourteen full service branches. For more information, visit www.mountain1st.com.

SOURCE Mountain 1st Bank & Trust Company

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