FOUR OAKS FINCORP, INC. (OTCMKTS:FOFN) Files An 8-K Submission of Matters to a Vote of Security Holders

FOUR OAKS FINCORP, INC. (OTCMKTS:FOFN) Files An 8-K Submission of Matters to a Vote of Security Holders

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Item 5.07

Submission of Matters to a Vote of Security
Holders.

Four Oaks Fincorp, Inc. (the Company) held its Annual Meeting of
Shareholders on May 22, 2017. The shareholders considered three
proposals, each of which is described in more detail in the
Company’s definitive proxy statement dated April 17, 2017.

Proposal 1: To elect seven nominees to the Company’s
Board of Directors. The votes were cast as follows:

For Withheld Broker Non-Votes
Ayden R. Lee, Jr. 4,571,186 78,457 1,215,585
David H. Rupp 4,636,508 13,135 1,215,585
Warren L. Grimes 4,547,796 101,847 1,215,585
Kenneth R. Lehman 4,611,327 38,316 1,215,585
Robert G. Rabon 4,514,008 135,635 1,215,585
Dr. R. Max Raynor, Jr. 4,557,704 91,939 1,215,585
Michael A. Weeks 4,593,658 55,985 1,215,585

All director nominees were duly elected.

Proposal 2: To vote, on an advisory (nonbinding) basis, to
approve executive compensation. The votes were cast as follows:

For Against Abstain Broker Non-Votes
4,425,510 72,785 151,348 1,215,585

Proposal 2 was approved.

Proposal 3: To ratify the appointment of Cherry Bekaert
LLP as the Company’s independent registered public accounting
firm for the fiscal year ending December 31, 2017. The votes were
cast as follows:

For Against Abstain
5,847,958 9,197 8,073

Proposal 3 was approved.


About FOUR OAKS FINCORP, INC. (OTCMKTS:FOFN)

Four Oaks Fincorp, Inc. is a bank holding company. The Company’s primary function is to serve as the holding company for its subsidiaries, Four Oaks Bank & Trust Company, Inc. (the Bank) and Four Oaks Mortgage Services, L.L.C. The Bank operates over 16 offices in eastern and central North Carolina. In addition, the Company has an interest in Four Oaks Statutory Trust I. The Bank is a community-focused bank engaged in commercial banking business. The Bank provides a range of banking services, including deposit accounts, loan products, wealth management, bank access services and merchant services. The Bank offers deposit accounts, such as checking, savings, free checking and savings program, certificates of deposit (CD), e-statements and mobile check capture. It offers wealth management products, such as financial planning services, wealth management services, life insurance, long-term care and annuities. It offers Internet banking, telephone banking and mobile banking.

FOUR OAKS FINCORP, INC. (OTCMKTS:FOFN) Recent Trading Information

FOUR OAKS FINCORP, INC. (OTCMKTS:FOFN) closed its last trading session up +0.10 at 15.05 with 1,361 shares trading hands.

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