CNBB CNB Community Bancorp Inc (QX)

CNB Florida Names G. Thomas Frankland as President and Chief Operating Officer - Executive Changes Begin Transition Initiatives - JACKSONVILLE, Fla., Feb. 18 /PRNewswire-FirstCall/ -- CNB Florida Bancshares, Inc. today announced that its Board of Directors has appointed G. Thomas Frankland President and Chief Operating Officer of the Company and CNB National Bank, its banking subsidiary. K.C. Trowell, who previously held these titles, remains Chairman and Chief Executive Officer. Roy D. Jones, previously Senior Vice President/Corporate Development, succeeds Frankland as Chief Financial Officer. These actions begin the transition following the January 21, 2004 announcement that CNB Florida Bancshares, Inc. had entered into a definitive agreement to be acquired by The South Financial Group (NASDAQ:TSFG). In his new role, Frankland will lead the transition of CNB National Bank into Mercantile Bank, The South Financial Group's Florida banking subsidiary, which is expected in July 2004. Upon joining CNB Florida Bancshares in November 1998, Frankland played a key role in the Company's initial public offering (completed in January 1999) and in management's significant growth in the Company's asset base since 1998. Jones came to CNB Florida Bancshares in May 2001 from Bank of America and Barnett Banks. "During our strategic evaluation process leading up to the merger announcement, we were pleased to learn that CNB Florida Bancshares and The South Financial Group had similar cultures and approaches to serving customers," said Frankland. "These similarities made it attractive for us to join our two entities together and gain a larger product and service platform from which to serve our customers." Subsequent to the transaction completion, Trowell, who founded CNB National Bank in 1986, plans to retire, while Frankland and Jones will join The South Financial Group with initial responsibilities of integrating CNB National Bank's customers and employees into the Mercantile Bank product and service platform. "Although CNB National Bank will disappear in name, continued involvement by CNB employees will ensure that the CNB spirit we created will continue for our communities, customers and employees," said Trowell. CNB Florida Bancshares, Inc., a registered bank holding company, is the parent of CNB National Bank, the largest community bank headquartered in Northeast Florida. CNB National Bank commenced operations in 1986 with one Lake City location and today has sixteen offices in eight counties (Alachua, Baker, Bradford, Columbia, Duval, St. Johns, Suwannee and Union). DATASOURCE: CNB Florida Bancshares, Inc. CONTACT: K.C. Trowell, Chairman & Chief Executive Officer, or G. Thomas Frankland, President & Chief Operating Officer, both of CNB Florida Bancshares, Inc., +1-904-265-0261 Web site:

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