Wilmington, N.C. - "North State Bank opened a loan production office in Wilmington today," announced Larry D. Barbour, president and CEO of North State Bancorp, the holding company for North State Bank. The office is located in the Lumina Station shopping center at 1908 Eastwood Road, Suite 321.
"This is a big step for our bank as we expand our market beyond Wake County," said Barbour. "And this is the right move as Phil Whittington leads our bank in this growing market. We are looking forward to gaining more presence in New Hanover County- beginning today as we mark the opening of our new loan production office."
Whittington, a senior vice president and key leader for North State Bank for over three years, has over 20 years of banking experience in the Wilmington market and has in a sense "returned home" to a business community he knows so well.
"I am confident that Phil Whittington is the right banker for the Wilmington market. He knows the city so well and will be able to serve customers he has known for many years as well as gain new ones to grow the bank," said Barbour.
Whittington is excited about the opening of the office and is eager to help North State Bank to become the community bank of Wilmington. "North State is a true 'home-town' bank that values mutually-beneficial relationships with our customers," said Whittington. "I know that our bank will succeed in this market, and I am excited to be a part of it."
To date, Whittington has named three members to the advisory board for the Wilmington office. This board will be a tremendous asset to the bank as they are well-known professionals in the Wilmington market. The three members are: Mike Stonestreet, president of Century 21/Sweyer/CAMS; Mike Head, president of the property management firm CEPCO; and Alan Toll, partner with Stevens, McGhee, Morgan, Lennon and Toll, LLP.
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, and Highway 70 West in Garner, as well as the loan production offices at Wakefield Corporate Center near Wake Forest and 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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