The Annual Meeting of Stockholders (the "Annual Meeting") of First South Bancorp, Inc. (the "Company") was held Thursday, May 17, 2012 at 11:00 a.m. eastern time, at the main office of First South Bank located at 1311 Carolina Avenue, Washington, North Carolina.

The stockholders eligible to vote at the Annual Meeting were those stockholders of record as of April 2, 2012. A certified list of stockholders eligible to vote at the Annual Meeting indicated there were 9,751,271 votes entitled to be cast at the Annual Meeting, of which 3,250,424 votes represents a quorum. A total of 8,043,425 votes, representing 82.5% of the votes eligible to be cast, were present in person or by proxy at the Annual Meeting, constituting a quorum.

The purpose of the Annual Meeting was for considering and acting upon the following two matters: the election of two directors of the Company to serve three-year terms, and to ratify the appointment of Turlington and Company, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2012.

Following is the final results of the voting for each the matters presented:

1. The election of two directors:

                                                          Broker
                                         For    Withheld Non-Vote
                Frederick N. Holscher
                Number of votes       4,220,288 626,095  3,197,042
                Percent of votes cast   87.1%    12.9%

                Frederick H. Howdy
                Number of votes       4,667,611 178,772  3,197,042
                Percent of votes cast   96.3%     3.7%

2. The ratification of appointment of Turlington and Company, LLP as Independent Registered Public Accounting Firm:

For Against Abstain Number of votes cast 7,827,816 158,802 56,807 Percent of votes cast 98.0% 2.0%