POWER OF ATTORNEY


     I hereby  appoint Kim S. Price,  Paul L. Teem,  Jr.,  Robert B. Pomerenk or
Edward A. Quint to act as my true and lawful  attorney-in-fact with authority to
execute  on my  behalf  any  Form 3, 4 or 5,  Form ID or any  amendment  thereto
required  to be filed by the  undersigned  under  Section  16 of the  Securities
Exchange  Act of 1934,  as amended,  and the rules and  regulations  promulgated
thereunder,  with the  appropriate  regulatory  authorities and to do all things
incident and necessary to that end,  until such time as I notify Mr. Price,  Mr.
Teem,  Mr.  Pomerenk or Mr.  Quint in writing  that his  authority  to act on my
behalf in this manner has been withdrawn.

         I have signed this power of attorney on October 20, 2005.


                                    by   /s/ Dennis O. Livingston
                                         ---------------------------------------
                                         Dennis O. Livingston


                        In presence of   /s/ Lynn H. Boyles
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                                         Name:


                                         at   Monroe             North Carolina
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                                               City                  State