North State continues expansion in Wake County with plans for office near Rex Hospital. Raleigh, NC. . . North State Bank has purchased the property at 2413 Blue Ridge Road in Raleigh, NC from State Farm Insurance, the former owner/occupant, in order to open a new office location, according to Larry D. Barbour, president and CEO of North State Bancorp, the holding company for North State Bank.
“Physicians and other professionals in Wake County are an important part of our business,” Barbour said. “This is a great opportunity for us to open an office that will be convenient to the professionals who work in and around Rex Hospital, and for other customers and prospects in West Raleigh.”
Senior Vice President and West Raleigh Executive Robert D. “Bobby” Ross will head North State Bank’s efforts in this key market. Ross, formerly with Bank of America and most recently First South Bank, brings more than twenty-five years of banking experience to the position.
Subject to regulatory approval, the new office is expected to open in late 2003.
North State Bank is a full service community bank, founded in 2000, headquartered in Raleigh and currently serves Wake County with two offices, one in Raleigh and one in Garner. 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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