January 20, 2010 (FinancialWire) — First South Bancorp, Inc. (NASDAQ: FSBK) said it has renewed a stock repurchase program expired on January 15, 2010. During the twelve-month term of that program, the company placed the program in an inactive status and did not purchase any of the 486,905 shares approved.

The company said it has adopted a plan to renew the stock repurchase program so that it may repurchase up to 5% of its current outstanding common shares, totaling 487,115 shares.

Initially, the stock repurchase program will remain inactive, according to First South.

North Carolina-based First South Bank operates through its main office and 29 full service branch offices, and one loan production office, located throughout eastern, northeastern, southeastern and central North Carolina.

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