September 29, 2008

FOUR OAKS BANK SCORES IN TOP 200 COMMUNITY BANKS BY US BANKER MAGAZINE!

Four Oaks Fincorp, Inc. (OTCBB:FOFN), the holding company for Four Oaks Bank & Trust Company, announces that the U.S. Banker magazine has ranked community banks in the United States by a 3-year average Return On Equity (ROE) in their June 2008 issue.  The magazine's article entitled "In Careful Pursuit Of Growth" revealed the results of their research and ranking in a list of the top 200 Community Banks.  Ranked #186, Four Oaks Fincorp, Inc, holding company for Four Oaks Bank, headquartered in Four Oaks, NC, was among the top 200 and one of only nine North Carolina community banks to make the list.

"They avoided the enticements of subprime mortgages.  They controlled expenses and capitalizations" the article touts of the 200.  "As a result, community banks on this year's top 200 list, based on three-year average return on equity, maintained remarkably high return on earnings, despite a financial-market tailspin in the second half of 2007."  Four Oaks Bank was among 188 banks who maintained a double digit ROE.

"We are very excited to receive national recognition for our bank and its operations," says Ayden R. Lee, Jr., Chairman, CEO and President of Four Oaks Bank, "especially in the face of current events in the financial sector which have caused concerns among investors.  We did not engage in subprime lending and we did not invest in the equity of Fannie Mae or Freddie Mac.  We are well-capitalized as determined by bank regulations.  We are very proud of our team of banking professionals and directors who work diligently to make our bank a great value for our investors and a valued resource for our customers."

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