First National Bancshares, Inc. (First National) serves as the holding company for First National Bank of the South (First National Bank or the Bank). First National Bank is a national banking association that provides personal and commercial banking services. The bank is primarily engaged in the business of accepting deposits insured by the Federal Deposit Insurance Corporation and providing commercial, consumer, and mortgage loans to the general public. The Bank offers a variety of services and products to consumers and small businesses. It offers trust and investment management services, through a strategic alliance with Colonial Trust Company. On January 31, 2008, Carolina National Corporation, the holding company for Carolina National Bank and Trust Company, merged with and into First National. On February 18, 2008, Carolina National Bank and Trust Company merged with and into the Company’s bank subsidiary, First National Bank of the South.