GASTONIA, N.C., March 25, 2010 (GLOBE NEWSWIRE) -- Citizens South Banking Corporation (Nasdaq:CSBC), the parent company for Citizens South Bank, announced today that it has issued a slide presentation that provides additional information related to its previously announced acquisition of the banking operations of Bank of Hiawassee in a Federal Deposit Insurance Corporation assisted transaction and related stock offering.
The slide presentation is available as Exhibit 99.1 to the Current Report on Form 8-K/A, filed with the Securities and Exchange Commission on March 25, 2010.
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Forward-looking Statements
This news release may contain forward-looking statements which include, but are not limited to, statements relating to the acquisition of the Bank of Hiawassee and our capital raise. Forward-looking statements are generally identified by the use of words "believe," "expect," "intend," "anticipate," "estimate," and other similar expressions. These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Forward-looking statements speak only as of the date they are made and the Company is under no duty to update these forward-looking statements to reflect circumstances or events that occur after the date of the forward-looking statements or to reflect the occurrence of unanticipated events. A number of factors could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, our ability to efficiently integrate the acquisition, retain customers and grow the acquired franchise, changes in general economic conditions – either locally or nationally, competition among depository and financial institutions, the continuation of current revenue and expense trends, significant changes in interest rates, unforeseen changes in the Company's markets, and legal, regulatory, or accounting changes. The Company's reports filed from time to time with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended December 31, 2009, describe these and other factors.