On April 5, 2018, KS Bancorp, Inc. announced that it has received a letter from Phillip A. Lewis that suggests he might run as a director nominee in opposition to a candidate nominated, endorsed and supported by Company’s Board of Directors and senior management team. Further, KS Bancorp requested shareholders to refrain from taking any action with regard to any materials that they may receive from Phillip A. Lewis until they have had an opportunity to receive and review the Company’s proxy materials and the associated white proxy card in connection with its upcoming annual meeting.