TrustAtlantic Bank

Trustatlantic Bank Hires Chief Credit Officer

Raleigh, N.C.—October 10, 2008—TrustAtlantic Bank announced today the hiring of Timothy S. Day as Executive Vice President and Chief Credit Officer. Day is a seasoned banker who has spent the past 15 years with BB&T, most recently as Regional Loan Administrator in Winston-Salem, N.C. He will be based out of the headquarters office in Raleigh, N.C. and will be responsible for managing the credit approval and credit risk operations for the entire bank. He also will serve in the same capacity for the parent company, TrustAtlantic Financial Corporation.

"We are extremely fortunate to have someone with Tim's background join our team," said James A. Beck, President and Chief Executive Officer of TrustAtlantic Bank. "The chief credit officer plays a key role for any bank, and Tim has the experience and work ethic to manage our loan growth and credit culture successfully. As a member of our executive management team, Tim will also play an important part in guiding our strategic direction going forward."

"I am incredibly excited about this opportunity," stated Day. "TrustAtlantic Bank has a solid business plan, and I firmly believe that we have the talent and leadership to take advantage of the significant growth in the central and eastern part of this state."

Day is a West Virginia native and a graduate of Concord College in Athens, W.V. He is also a graduate of the Graduate School of Banking at Louisiana State University. He currently lives in Raleigh with his wife Karen.

About TrustAtlantic Bank:

Headquartered in Raleigh, North Carolina, TrustAtlantic Bank is the wholly owned subsidiary of TrustAtlantic Financial Corporation. TrustAtlantic Financial recently completed an acquisition of Millennia Community Bank in Greenville, North Carolina. The bank operates two banking offices in Greenville and one in Raleigh, and anticipates opening additional branch offices in the greater Raleigh-Cary metro area as well as Greenville in the coming years.