Exhibit 99.2

    Four Oaks Fincorp, Inc. Announces Five-for-Four Stock Split

   FOUR OAKS, N.C.--(BUSINESS WIRE)--Oct. 23, 2003--At the regularly
scheduled meeting on October 20, 2003, the Board of Directors of Four
Oaks Fincorp, Inc. (OTCBB:FOFN) approved a five-for-four split of the
Corporation's common stock, which represents a 25% stock dividend.
   President and CEO Ayden R. Lee, Jr. stated that "this split serves
to express to our shareholders and the investing public our
expectations for the continued success of the Company."
   Currently, there are approximately 2.1 million shares of common
stock outstanding. Following the split, Four Oaks Fincorp, Inc. will
have over 2.6 million shares of common stock outstanding. The split is
payable November 10, 2003 to shareholders of record on November 3,
2003.
   Total assets for the Company as of September 30, 2003 were
$328,695,000. Four Oaks Fincorp, Inc. is a bank holding company for
Four Oaks Bank & Trust Company which operates ten banking offices in
Four Oaks, Clayton, Smithfield, Garner, Benson, Fuquay-Varina,
Wallace, and Holly Springs, North Carolina.
   Four Oaks Fincorp, Inc. trades through our market makers under the
symbol of FOFN.
   Information in this press release contains "forward-looking
statements." These statements involve risks and uncertainties that
could cause actual results to differ materially including without
limitation, the effects of future economic conditions, governmental
fiscal and monetary policies, legislative and regulatory changes, the
risks and changes in interest rates on the level and composition of
deposits, the effects of competition from other financial
institutions, the failure of assumptions underlying the establishment
of the allowance for possible loan losses and the low trading volume
of our common stock.


    CONTACT: Four Oaks Fincorp, Inc.
             Ayden R. Lee, Jr. or Nancy S. Wise, 919-963-2177