LOS ANGELES -- (Business Wire)

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Citizens South Banking Corp. (“Citizens” or the “Company”) (NASDAQ:CSBC) related to the proposed acquisition of the Company by Park Sterling Corp. The transaction is valued at approximately $77.8 million in cash and stock.

This investigation concerns whether the Board of Directors of Citizens breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $3.50 on December 30, 2011 to $5.07 on May 8, 2012.

If you are a shareholder of Citizens, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts:

Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
(310) 201-9150
(888) 773-9224
shareholders@glancylaw.com

Source: Glancy Binkow & Goldberg LLP