SOURCE: Park Sterling Corporation

Park Sterling Corporation

December 12, 2011 07:30 ET

Park Sterling Corporation Adds Senior Banker in Eastern North Carolina

CHARLOTTE, NC--(Marketwire - Dec 12, 2011) - Park Sterling Corporation (NASDAQ: PSTB), the holding company for Park Sterling Bank, announced today that it has hired veteran banker David Parker to lead its eastern North Carolina operations. David will have the role of Eastern North Carolina Regional President, with responsibility for the bank's current operations in Wilmington and the Research Triangle, along with developing additional opportunities for the company's growth in the eastern part of the state. His principal office will be in Wilmington, NC.

"Eastern North Carolina is a large and important growth market for Park Sterling and the hiring of David Parker is a very tangible statement of our commitment to the expansion of our business in this vibrant part of the state. David is an exceptionally fine and well regarded banker with significant leadership experience in this dynamic market. His broad business development and management background in consumer banking, commercial banking and wealth management will not only help us grow in Eastern North Carolina, but will be a source of strength and leadership for our entire company," said James C. Cherry, Park Sterling's Chief Executive Officer.

David Parker spent nearly 30 years with Wachovia Corporation, most recently as the Eastern Region Executive based out of Wilmington. His career also includes being the Upstate Regional Executive in South Carolina, significant experience in Wachovia's Trust Department and various lending and city executive roles. David is a graduate of Campbell University and pursued graduate work in Accounting at the University of Virginia. He has served as an adjunct professor of finance at Campbell University's Graduate School of Business and is currently on the board of directors of the Food Bank of Central and Eastern North Carolina.

About Park Sterling Corporation
Park Sterling Corporation is the holding company for Park Sterling Bank, headquartered in Charlotte, North Carolina. Park Sterling's primary focus is to provide financial services to small and mid-sized businesses, owner-occupied and income producing real estate owners, professionals and consumers doing business or residing within its target markets. Park Sterling offers a full array of banking services, including a diverse wealth management group. Park Sterling is committed to building a banking franchise across the Carolinas and Virginia that is noted for sound risk management, superior customer service and exceptional client relationships. For more information, visit Park Sterling's shares are traded on NASDAQ under the symbol PSTB.

Cautionary Statement Regarding Forward-Looking Statements
This news release contains, and Park Sterling and its management may make, certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts and often use words such as "may," "plan," "contemplate," "anticipate," "believe," "intend," "continue," "expect," "project," "predict," "estimate," "could," "should," "would," "will," "goal," "target" and similar expressions. These forward-looking statements express management's current expectations, plans or forecasts of future events, results and condition, including financial and other estimates and expectations regarding organic growth. These statements are not guarantees of future results or performance and by their nature involve certain risks and uncertainties that are based on management's beliefs and assumptions and on the information available to management at the time that these disclosures were prepared. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks discussed in any of Park Sterling's filings with the SEC.

Forward-looking statements speak only as of the date they are made, and Park Sterling undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.