INTERNET-BASED NEXITY BANK SURPASSES $300 MILLION IN ASSETS

FOR IMMEDIATE RELEASE
May 11, 2001

(Birmingham, AL) - Internet-based, Nexity Bank, member FDIC, has surpassed $305 million in assets, according to Nexity Bank CEO, Greg Lee. The Bank began taking deposits in February 2000, and in the 14 months since has signed up over 12,000 customers from all 50 states. The Bank currently has over $265 million in deposits.

"More and more people have come to appreciate and enjoy the advantages and easy access that on-line banking provides," said Lee. "Because of our focus on the Internet, we are able to offer superior rates and attractive products. Plus, in today's world where so much demand is placed on time, we find that people really need the convenience in accessing their accounts any time of the day, any day of the week." Additionally, Nexity's call center staff is available 7 days a week.

According to David Long, president of Nexity Bank, much of the appeal of on-line banking is the convenient access as well as a wide array of available banking services. "Our continued growth and product traction is attributable to attractive yields, convenience in product availability resulting in satisfied customers," Long said.

Nexity Bank continues to offer superior rates and service to its customers. Nexity Bank has received the Bankrate.com Top Tier award for consistently offering annual percentage yields (APYs) that were among the highest reported in the 100 Highest Yields for 1st quarter 2001 (source: Bankrate.com).

Nexity's Interest Checking Account offers full transactions access through on-line real time debit card transactions, on-line paid check images front and back, and on-line presentment of daily and monthly statements. Additionally, Nexity Bank offers home equity loans and lines, money market accounts, personal checking, business checking, savings accounts, CD's, ATM/Check Cards, on-line bill pay and overdraft protection. Nexity Bank provides free Internet access to customer accounts 24 hours-a-day, seven days-a-week, plus on-line viewing of cancelled checks and on-line statements.

Nexity Bank is headquartered in Birmingham, Alabama. Customer service representatives can be reached at 877.738.6391.