North State continues to expand in Wake County with loan production office in Wake Forest.
Raleigh, NC. . .North State Bank will open a loan production office in the Wakefield Corporate Center, announced Larry D. Barbour, president and CEO of North State Bancorp, the holding company for North State Bank.
“Wake Forest is a dynamic community for both professionals and other businesses, as well as for residential development,” Barbour said. “To expand there with a loan production office enables us to begin providing banking services to this important Wake County market.”
Wake Forest, NC native Gary L. Woodlief, vice president and senior commercial lending officer, will head North State Bank’s efforts in this key market. Woodlief, previously with the former Triangle Bank and with CCB/National Commerce Financial Corp, brings more than 13 years of banking experience to the role. He joined North State Bank in late 2002 and currently works out of the Falls of Neuse office.
Regarding the opening of Wake Forest office, Woodlief said, “I grew up in Wake Forest when the area was well-served by community banks. That changed. Now, I am looking forward to establishing North State’s presence in the area. I believe the people of Wake Forest are going to really enjoy the way we do business.”
Subject to regulatory approval, the Wake Forest office, which will be located at 11410 Common Oaks Drive, is expected to open in August 2003.
North State Bank is a full service community bank, founded in 2000, headquartered in Raleigh, and currently serving Wake County with two offices, one in Raleigh and one in Garner. Plans have been announced for a new headquarters and banking office at the new North Hills on Six Forks Road in Raleigh and an office on Blue Ridge Road across from Rex Hospital. As of March 31, 2003, the bank had total assets of $215 million.
www.northstatebank.com
This news release may contain forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements for various reasons, including 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 Bank's FDIC filings, including its periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from the Bank.
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