Raleigh, N.C. - Phillip Frye has been promoted to banking officer at the North Raleigh office of North State Bank, announced Sandra Temple, senior vice president and chief operations officer.
"Phillip has been a positive addition to our banking team," said Temple. "He has embraced the values of our company and continually works toward personal and professional development. We look forward to his contributions as an officer of
the bank."
Frye joined North State Bank in January 2002 as a teller supervisor and then as a customer service representative. Just two years later, he was promoted to office manager which is the role he currently serves. Prior to working with North State, he held positions with John Hancock Insurance and Financial Services and New York Life Insurance Company. He is involved with numerous civic and other service organizations such as Habitat for Humanity, the Greater Raleigh Chamber of Commerce, North State Bank's Summer Salute for Hospice of Wake County, and is a youth group volunteer and Sunday school teacher at Forest Hills Baptist Church. He holds a degree in business administration from the University of North Carolina at Chapel Hill. A native of Sylva, North Carolina, he currently lives in Raleigh.
Founded in 2000, North State Bank is a full service community bank, currently serving Wake County through five offices: a headquarters and new banking office at North Hills in Raleigh, full-service offices on Falls of Neuse Road and Blue Ridge Road in Raleigh, a full-service office on Highway 70 West in Garner, and a loan production office at Wakefield Corporate Center in Wake Forest. North State Bancorp, the holding company for North State Bank, ended first quarter 2005 with $322
million in assets.
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North State Bancorp is listed on the OTC electronic bulletin board under
the symbol "NSBC."
www.northstatebank.com
The information as of and for the quarter ended March 31, 2005 as presented is unaudited. 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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