Citizens South Banking Corporation Announces Preliminary Approval for $20.5 Million of SBLF Capital

Kim S. Price, President and Chief Executive Officer of Citizens South Banking Corporation CSBC announced today that the Company has received preliminary approval to receive an investment up to $20.5 million in the Company's preferred stock from the United States Department of the Treasury under the Small Business Lending Fund. The SBLF is a voluntary program intended to encourage small business lending by providing capital to qualified community banks. Subject to due diligence and final approval by Treasury, the Company expects to receive the full amount of the approved investment. Closing is expected to occur within approximately 30 days.