Raleigh, NC. . . North State Bank president and chief executive officer Larry Barbour announced that David Shipp has been named executive vice president and chief credit officer for North State Bank.
“David is an excellent edition to our executive management team,” said Barbour. “His strong leadership and experience in credit administration is essential to our bank as we continue to focus on sound and profitable loan growth. I know that through David’s leadership, we will continue to adhere to this philosophy.”
Shipp began his banking career with First National Bank in Dallas, Texas, where he served as assistant vice president. Most recently, Shipp served as senior vice president and senior credit officer for Wachovia Bank for twenty years. A native of Bethesda, Maryland, he received a bachelor of science degree in accounting from the University of South Carolina, and a master’s degree in business administration from the University of Texas.
Founded in 2000, North State Bank is a full-service community bank, serving Wake and New Hanover counties through six full-service Wake County offices, and one loan production office in Wilmington. The headquarters is at The Circle at North Hills, and full-service offices are located on Falls of Neuse Road in north Raleigh, and Common Oaks Drive in the Wakefield area near Wake Forest, N.C. and on Blue Ridge Road in Raleigh, on Highway 70 West in Garner, and on W. Martin Street in downtown Raleigh. A full-service office in Wilmington will open on Eastwood Road in January 2008.
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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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