7/15/2005 - CapitalSouth Bank

Media Contact:            Lisa Beck

Phone:             205-803-5802

BIRMINGHAM, AL - Financial Investors of the South, Inc. the holding company for CapitalSouth Bank and Capital Bank, announced today Financial Investors has received Federal Reserve System approval to acquire a bank which will result in the establishment by its subsidiary, CapitalSouth Bank of an initial branch in Florida.  Pending remaining regulatory approvals, the bank will begin operation in Jacksonville, Florida by the end of the year.

The company currently has six banking offices across the state of Alabama with plans to open a seventh office in Birmingham in August.  With over $350 million in assets, CapitalSouth Bank and Capital Bank focus on the commercial client and offer unique services such as a free courier service. Banco Hispano, a separately branded branch of CapitalSouth Bank, provides banking services to the Hispanic community.

Chairman and CEO, W. Dan Puckett in a statement today says "We are pleased to enter the growing Florida market.  Jacksonville, in particular, has enjoyed solid growth in its business base.  CapitalSouth Bank will fit well into its business community."

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