NEXITY BANK ANNOUNCES AN ADDITION TO ITS BOARD OF DIRECTORS

FOR IMMEDIATE RELEASE
July 12, 2002

(Birmingham, AL) - Nexity Bank is pleased to announce the addition of Brad Burnette to its Board of Directors. Mr. Burnette is the Chairman of the Board of PAB Bankshares, Inc. headquartered in Valdosta, Georgia. Mr. Burnette is a career banker and has been with PAB Bankshares and The Park Avenue Bank since 1968. He currently serves on the Board of The Federal Home Loan Bank of Atlanta and has previously served on the Board of The Bankers Bank of Atlanta.

"We are very proud and excited about Brad joining our Board," said Greg Lee, Chairman of Nexity Bank, "Brad has an extensive and broad background in banking which we will be able to draw upon. He has an outstanding reputation and is a well-recognized leader in southeastern banking. We are fortunate to have Brad on our team as we move forward."

About Nexity Bank

Nexity Bank is a $390 million wholesale commercial bank offering deposit products nationwide consisting of money markets, checking accounts and online access. Nexity Bank generates the majority of its income through wholesale correspondent banking activities. Nexity Bank is headquartered in Birmingham, Alabama. Customer Service Representatives can be reached at 1-877-738-6391. To learn more about Nexity Bank please visit www.nexitybank.com.