FOR IMMEDIATE RELEASE

CONTACT:   Rodger B. Holley
           President/Chief Executive Officer
           First Security Group, Inc.
           (423) 308-2080
           rholley@fsgbank.com





         FSGBANK COMPLETES ACQUISITON OF BRANCHES FROM NATIONAL BANK OF
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                                    COMMERCE
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     CHATTANOOGA, TN (December 4, 2003) FSGBank, National Association, a
subsidiary of First Security Group, Inc. (FSG) today completed its acquisition
of the Monroe County banking operations of National Bank of Commerce (NBC). The
acquisition includes branch offices in Sweetwater, Madisonville and Tellico
Plains, Tennessee with approximately $50 million in deposits and $18 million in
loans.


     Currently, FSGBank has one full-service banking office in Monroe County.
With this acquisition, FSGBank will have five banking offices and more than
18.57% or the second largest market share of deposits in Monroe County according
to the most recent FDIC data.


     "This strategic expansion in Monroe County gives us a much stronger
presence in the market. We are committed to this community and will continue to
provide flexible and individualized services to the customers we serve," said
Rodger B. Holley, president and CEO of First Security Group, Inc.


FSGBank's parent company, First Security Group, is based in Chattanooga. FSG has
24 full-service banking offices along the Interstate 75 corridor of East
Tennessee and north Georgia. FSG also has plans to construct and open three more
branches in the Knoxville area by the middle of next year. Presently, FSG's
assets total more than $650 million.