Raleigh, N.C. - A ribbon-cutting ceremony and grand opening celebration was held on October 3, 2006, at North State Bank's new full-service office in Wake Forest, announced Larry D. Barbour, president and CEO for North State.
"The ribbon-cutting ceremony and grand opening celebration marked the beginning of a new step in the life of our bank," said Barbour. "These two events were successful because of the tremendous support shown by our customers and the strong leadership of Jonathan Hand, our Wake Forest market executive. Those who came got the chance to hear our story and to know that we are here to stay and committed to the markets we serve. I anticipate strong results from our Wake Forest office."
A ribbon-cutting ceremony was held at the new office at 8:30 a.m. and the grand opening celebration was held at 6:00 p.m. Approximately 300 were in attendance for the grand opening celebration, catered by Michael Dean's. Jonathan Hand was extremely pleased with the outcome of the event. "I was so encouraged by the support and confidence that our customers have in us," said Hand. "These events were a huge success. Our office is off to a great start, with over 100 new accounts opened since August 14. A huge thank you to all who helped make this event possible."
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. Plans are being developed for a loan production office to be located at 16 W. Martin Street, Raleigh, NC, where a lease has been signed.
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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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