TrustAtlantic Bank

TrustAtlantic Bank CEO Named Impact Financial Leader

Raleigh, N.C.—April 23, 2008—James A. Beck, President and Chief Executive Officer of TrustAtlantic Bank, the wholly owned subsidiary of TrustAtlantic Financial Corporation, has been named an Impact Financial Leader by Business Leader magazine. The publication's Impact Financial Leaders include 24 executives in the Triangle who are recognized for their leadership in the financial industry and their commitment to the community.

A veteran banker, Beck has helped grow financial companies throughout North Carolina for over three decades, with most of his time and talents invested in the Triangle. With Beck at the helm, TrustAtlantic Financial Corporation, headquartered in Raleigh, raised over $47 million in equity capital through two private placement offerings. In June 2007, TrustAtlantic Bank acquired Millennia Community Bank in Greenville, N.C. which it substantially recapitalized and renamed TrustAtlantic Bank. The bank announced in November of last year that under Beck's leadership, it had reached a corporate milestone by surpassing $100 million in total assets in just five months of operation. Today, the bank has now exceeded $180 million in total assets.

"I am honored to be named an Impact Financial Leader and to be in the company of other industry leaders in the region," said Beck. "This recognition is really a testament to the many hard-working, dedicated banking professionals with whom I have had the privilege of working over my years in the Triangle."

Beck's career highlights also include serving as founding President and Chief Executive Officer of Capital Bank/Capital Bank Corporation from its inception in 1997 until 2003. Under Beck's leadership it was one of the fastest growing de novo banks in North Carolina and the country. Beck has also served as Chairman, President and Chief Executive Officer for SouthTrust Bank of North Carolina.

Beck's leadership extends beyond the financial industry, as he gives back to the local community by taking part in civic affairs and charities. His recent activities include serving in leadership positions with the Greater Raleigh Chamber of Commerce, North Carolina State University and Triangle United Way, in addition to involvement with many other charitable organizations.

About TrustAtlantic Bank:

Headquartered in Raleigh, North Carolina, TrustAtlantic Bank is the wholly owned subsidiary of TrustAtlantic Financial Corporation. The bank's primary competitive focus is to build broad financial relationships with mid-market businesses and their owners, professionals and other individuals who desire value-added service. The bank operates two banking offices in Greenville and two in Raleigh, and anticipates opening additional branch offices in the greater Raleigh-Cary metro areas as well as Greenville in the coming years.