KS Bancorp

KS Bancorp is a bank holding company that owns and operates KS Bank, Inc. The company was organized on December 29, 1993, when it acquired all the capital stock of KS Bank, Inc. in connection with the Bank's conversion from a mutual to a stock savings bank. KS Bancorp is registered with the Board of Governors of the Federal Reserve System under the Bank Holding Company Act of 1956 and North Carolina savings bank holding company laws. Its executive office is located at 207 West Second Street, Kenly, North Carolina. KS Bancorp's activities include owning and operating KS Bank, Inc., holding certain outstanding indebtedness from the Bank's Employee Stock Ownership Plan (ESOP), and managing its investments. The company's primary income sources are earnings from its investments and interest payments from the ESOP, along with dividends declared and paid by the Bank on its capital stock. KS Bank, Inc., chartered in 1924, was formerly known as Kenly Savings Bank, Inc., SSB. It has been a member of the Federal Home Loan Bank (FHLB) system since 1936, and its deposits have been federally insured since 1961 by the Savings Association Insurance Fund (SAIF) of the Federal Deposit Insurance Corporation (FDIC). As a North Carolina-chartered savings bank, KS Bank, Inc. is regulated and examined by the Administrator, Savings Institutions Division, North Carolina Department of Commerce, and the FDIC. The Bank operates through six full-service offices in Kenly (2), Goldsboro, Wilson, Garner, and Selma, North Carolina, and a mortgage loan production office in Clayton, North Carolina.