Raleigh, N.C. - Today, North State Bank held a groundbreaking ceremony to celebrate the start of construction for its new full-service banking facility in Wake Forest, NC announced, Larry D. Barbour, president and chief executive officer of North State.
North State has operated a loan production office in Wake Forest since September 2003. Due to its success and a growing market, the Bank recently purchased land in preparation for a full-service banking office. The new 10,000 square foot, two-story brick building will be built by J.D Beam Construction. In addition to the banking office, it will feature the main office for the Bank's mortgage and construction lending operations, two drive-through lanes, and a drive-up ATM. Wake Forest resident and experienced banker, Jonathan Hand, will head up the office, scheduled to open during the summer of 2006, assisted by an experienced staff.
"Building a full-service office in the Wake Forest area was a strategic decision," said Barbour. "North Raleigh and Wake Forest are vibrant markets and many of the individuals and businesses living and doing business there line-up with our focus on serving professional firms, professionals, property management companies, churches, businesses and individuals who value mutually beneficial banking relationships. We look forward to continued success as we expand our footprint in Wake County."
Founded in 2000, North State is a full-service community bank, serving Wake County through five offices: the headquarters and full-service office at North Hills on Six Forks Road, full-service offices on Falls of Neuse Road in Raleigh, Blue Ridge Road in West Raleigh, and Highway 70 West in Garner, as well as the loan production office at Wakefield Corporate Center in Wake Forest, NC.
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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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