Raleigh, N.C. - North State Bank opened its new full-service office in the Wake Forest area today, announced Larry D. Barbour, president and CEO for North State Bank.
"Opening this office is very important as we expand our footprint in Wake County," said Barbour. "Our loan production office opened in September 2003 and has enabled us to build a strong loan portfolio in preparation for the opening our new full-service office. I have full confidence in the leadership of Jonathan Hand, and his ability to create a dominant bank in the Wake Forest market as we continue to become Wake County's premier community bank."
Jonathan Hand, vice president and Wake Forest market executive, will be leading the bank's efforts in this market. With more than 12 years of banking experience and a strong knowledge of the Wake Forest area, Hand will be an effective leader for North State Bank's business development and lending in this growing market. A team of seasoned bankers who know the Wake Forest market well will assist Hand in both loan and deposit growth.
"I am excited about the opening of our new full-service office, and I have full confidence in the Wake Forest team. We are anticipating aggressive deposit growth as the bank gains a stronger presence in northern Wake County," said Hand.
Founded in 2000, North State is a full-service community bank, serving Wake County and New Hanover County through six offices: the headquarters and full-service office in Raleigh at North Hills on Six Forks Road, full-service offices on Falls of Neuse Road in Raleigh, Blue Ridge Road in West Raleigh, New Falls of Neuse Road in the Wake Forest area and Highway 70 West in Garner, as well as the loan production office at Lumina Station shopping center in Wilmington.
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North State Bancorp is listed on the OTC electronic bulletin board under the symbol "NSBC."
www.northstatebank.com
This news release contains forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements for various reasons, including our ability to manage growth, our limited operating history, substantial changes in financial markets, regulatory changes, changes in interest rates, loss of deposits and loan demand to other savings and financial institutions, and changes in real estate values and the real estate market. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's SEC filings, including its periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from the Company.
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