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Announcement

Letter to KS Bank Customers

March 20, 2023

Dear KS Bank Customers and Friends:

KS Bank is in its 99^th year of proudly serving you, our customers. KS Bank today is safe and sound, stable and strong! Our Board of Directors, employees, and management live, work, and play right here with you. We have our customers and communities best interest at heart! When you bank with KS Bank, we take local deposits and make local loans in each community we serve, while managing the risk so that we can remain safe and sound in any environment.

In the last ten days or so, there has been a lot of media coverage about Silicon Valley Bank, Signature Bank, and First Republic Bank. All of the aforementioned banks are “large” banks and pose a systemic risk to the banking system. In my opinion, this proves that “bigger is not always better” and should give you more confidence in your local community bank because you know us.

How does KS Bank differ from these institutions? Please note the following points of differentiation.

Asset Diversity – KS Bank serves customers like you across our five-county footprint. Our customer base includes many businesses of all different sizes across various industries as well as many local individuals who bank with our institution. With this diverse mix of customers, our loans and deposits are also diverse and limit our exposure and our risk to any one singular industry. This is in stark comparison to Silicon Valley Bank and Signature Bank, which were reported to be heavily invested in cryptocurrency, niche tech markets, and tech start-ups.
Capital and Liquidity - KS Bank has been and continues to be well capitalized according to regulatory standards. Our liquidity meets all the regulatory guidelines, and we have strong secondary sources of liquidity to meet the bank’s needs. In addition, your bank remains profitable.
Investments – KS Bank’s investment portfolio makes up approximately 18% of our balance sheet, thus minimizing our balance sheet risk. Our investments have a relatively short duration, and the portfolio is available for liquidity purposes should the need arise.
Regulatory Oversight - KS Bank is regulated by the FDIC and the North Carolina Commissioner of Banks. KS Bank is in good standing with both agencies.

Your confidence in our Bank is always at the top of mind and never taken for granted! We are grateful for the TRUST you place in us each and every day to manage your financial assets. Our pledge to you is to continue, just as we have for over 99 years, to manage them well.

If you should have questions, we invite you to reach out to your local branch office or your relationship manager. In addition, please feel free to reach out to me directly at 919-938-3101.

Thank you for banking with KS Bank!

Earl W. Worley, Jr.

President/CEO

KS Bank hires new senior credit analyst

(SMITHFIELD, NC) - KS Bank is pleased to announce that Keith Williams has been hired as a Senior Credit Analyst and Vice President. In this role, Williams will provide guidance and assistance to the Bank’s lending personnel in the review, enhancement, and standardization of loans and lending policies and procedures. He will also assist loan officers with the analysis and/or review of loan requests to aid in the efficient recommendation of potential loans.

John Parker, Chief Credit Officer, shared, “Keith’s extensive knowledge of the industry makes him an outstanding addition to our team. We are excited to have him here, and know he will contribute greatly to our continued growth.”

Williams has over 15 years of experience working in the banking industry. He has worked as a Credit Analyst since 2016 with experience evaluating the credit worthiness of businesses and determining their ability to repay their loans. He also has experience managing annual reviews and loan renewal requests.

Williams said, “I am very happy to be joining the team at KS Bank. I look forward to being at a bank that cares and gives back to those in the local communities that we serve.” He resides in Dunn with his wife, son, and daughter. In his free time he enjoys spending time with his family, traveling, and being on the golf course. He graduated from East Carolina University in 2007 with a Bachelor of Science degree in Political Science. He is also very active in the Dunn community as Chairman of The City of Dunn Parks and Recreation Advisory Board.

About KS Bank: For over 98 years KS Bank has served the Triangle East region of North Carolina. KS Bank, a state-chartered savings bank, is a community-oriented financial institution offering a broad array of competitive and pro-growth financial services to businesses, professionals, individuals, and families. KS Bank offers retail and commercial lending and deposit services, mortgage products, and wealth management services through its Trust Division. KS Bank corporate office is located in Smithfield, NC and operates nine financial centers in Johnston, Wake, Wilson, and Wayne Counties. A loan office is located in Dunn, NC. To learn more about KS Bank call 919.938.3101, visit ksbankinc.com, or connect with them on Facebook and LinkedIn.

KS bank hires new deposit operations manager, vp

(SMITHFIELD, NC) - KS Bank is pleased to announce that Cindy Minchew has been hired as Deposit Operations Manager and Vice President. In this role, Minchew will oversee the day to day operations of the Deposit Support team. She will monitor and identify changes in deposit compliance laws and regulations and assist with the maintenance of the bank’s core system.

Dit Breault, Chief Operations Officer, shared: “We are very happy to have Cindy Minchew join us here at KS Bank. Her wealth of knowledge and experience in the deposit operations field will be invaluable to us.”

Minchew has over 30 years of experience working in the banking industry, most recently as a deposit and operations support manager. She has experience supervising multiple operations departments, serving as a project manager for various committees, and implementing departmental procedures. She also has maintained knowledge of compliance and regulatory laws and ensured they were followed by the teams she managed.

Minchew said, “I am very fortunate to have the opportunity to be a part of the KS Bank team. I am excited to be working with this wonderful group of people!” She resides in Goldsboro with her husband and two children. In her free time she enjoys going to the beach, and she is very involved in her church. She graduated from North Carolina Wesleyan College in 2009 with a Bachelor of Science in Business Administration with a minor in accounting.

KS Bank hires new commercial relationship manager in goldsboro

(SMITHFIELD, NC) - KS Bank is pleased to announce that Justin McLamb has been hired as a Commercial Relationship Manager in their Goldsboro office. In this role, McLamb will be responsible for developing new business, deposit growth, and loan production.

Earl W. Worley, Jr., KS Bank President and Chief Executive Officer, said, “Justin McLamb will be an excellent addition to our Goldsboro branch. His experience and knowledge of Wayne County and surrounding areas will be beneficial to the growth of our footprint in those markets.”

McLamb has over 16 years of experience working in finance. He began his career in 2006 as a Reporting Specialist, then a Commercial Relationship Manager, and most recently worked as a Market Executive with Union Bank. His experience includes overseeing branch operations and employees, developing new business for the bank, and providing financial advice and counsel to customers.

McLamb said, “I’m really excited to join KS Bank and build strong relationships with our customers to ensure their financial needs are met.” He resides in Goldsboro area with his family. In his free time, he enjoys spending time with his wife and son traveling from the beach to the mountains. He graduated from the University of Mount Olive in 2008 with a Bachelor of Science degree in Business Administration. He received his Masters in Business Administration with a Certificate in Finance from East Carolina University in 2011. McLamb also graduated from the North Carolina School of Banking in 2015. He is active in the Wayne County community serving on the Wayne Community College Foundation Board, Boys & Girls Clubs of Wayne County Board, and is a Boy Scouts of America Council Member.

About KS Bank: For over 98 years KS Bank has served the Triangle East region of North Carolina. KS Bank, a state-chartered savings bank, is a community-oriented financial institution offering a broad array of competitive and pro-growth financial services to businesses, professionals, individuals, and families. KS Bank offers retail and commercial lending and deposit services, mortgage products, and wealth management services through its Trust Division. KS Bank corporate office is located in Smithfield, NC and operates nine financial centers in Johnston, Wake, Wilson, and Wayne Counties. To learn more about KS Bank call 919.938.3101, visit ksbankinc.com, or connect with them on Facebook and LinkedIn.

Earl W. Worley, Jr. Elected to the 2023 icba federal delegate board

KS Bank President/CEO, Earl W. Worley, Jr.

Local Leader Helps Deliver Community Banking Message to Nation's Capital

(SMITHFIELD, NC) - The Independent Community Bankers of America (ICBA) announced that community banker Earl W. Worley, Jr., President/CEO of KS Bank was elected to the ICBA Federal Delegate Board. ICBA is the nation’s voice for community banks.

“It’s a privilege to be elected to represent our industry and shine a light on the work of the nation’s community banks, which build better communities,” Worley said. “As relationship-based lenders, community banks offer hands-on personal service and invaluable financial expertise to local consumers and entrepreneurs. I look forward to working alongside ICBA as we serve their mission to create and promote an environment where community banks flourish.”

In addition to helping shape and advocate ICBA’s national policy positions and programs, Worley’s duties include engaging in grassroots activities in North Carolina and serving as a liaison between independent community bankers and ICBA staff and leadership in Washington, D.C. He will also work to recruit new members to ICBA.

ICBA is the only national organization dedicated exclusively to promoting the interests of locally operated community banks and savings institutions. With trusted financial expertise and high-quality customer service as their hallmarks, community banks offer the best financial services option for millions of consumers, small businesses, and agricultural enterprises.

“Earl is a respected member of his community and a dedicated advocate for our industry,” said ICBA Chairman Brad M. Bolton, president and CEO of Community Spirit Bank in Red Bay Ala. “We are fortunate to have Earl serve in this volunteer capacity and leverage his valuable experience and perspective in service to the community banking industry and the customers and communities we serve.”

About KS Bank: For over 98 years KS Bank has served the Triangle East region of North Carolina. KS Bank, a state-chartered savings bank, is a community-oriented financial institution offering a broad array of competitive and pro-growth financial services to businesses, professionals, individuals, and families. KS Bank offers retail and commercial lending and deposit services, mortgage products, and wealth management services through its Trust Division. KS Bank corporate office is located in Smithfield, NC and operates nine financial centers in Johnston, Wake, Wilson, and Wayne Counties. To learn more about KS Bank call 919.938.3101, visit ksbankinc.com, or connect with them on Facebook and LinkedIn.

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