North State expands footprint in Wake County with plans for “the new” North Hills.
Raleigh, NC. . .North State Bank has signed a lease with Kane Realty Corporation, developer of “the new” North Hills, to build its headquarters and a banking office on Six Forks Road on an out parcel of the redeveloped North Hills, according to Larry D. Barbour, president and CEO of North State Bancorp, the holding company for North State Bank.
“Building a headquarters facility and new banking office is an important step for our bank,” Barbour said. “We could not be more excited than to be part of the redevelopment of North Hills, a key area in North Raleigh, and to be in on the ground floor. We believe that Kane Realty’s plans for the area are a good fit with North State Bank’s plans for growth and expansion in the markets we serve.
“For me, personally, moving our headquarters to North Hills will be like going home. I started my banking career at the Wachovia office there. It was a great area then, and will be once again with the planned redevelopment.”
The bank will lease a 12,000 square foot, two-story facility that will house their headquarters and a full-service banking office, including an ATM and a drive-thru facility. The bank’s Operations Center will remain at 6200 Falls of Neuse Road, where it also will maintain its current banking office. Plans call for the bank to move into the new facility at North Hills no later than July 2004.
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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