First South Bank announces that Bruce W. Elder joined the bank Monday. Elder will assume the position of president and chief executive officer upon the retirement of Thomas A. Vann at the end of the third quarter of 2012.

Elder comes to First South Bank from Crescent State Bank in Cary, where he has served as the CFO for the past 14 years. In addition to his service to Crescent State Bank, Elder has more than 25 years of banking experience and has served on the executive management teams of Mutual Community Savings Bank in Durham and Prosperity Bank and Trust in Springfield, Va. He is a graduate of North Carolina State University with a degree in accounting and currently maintains his CPA license.

Currently residing in Apex, Elder will be relocating to Washington with his family.