Bank of Wilmington Increases Net Income 60% in 2003
11 Febbraio 2004 - 10:09PM
PR Newswire (US)
Bank of Wilmington Increases Net Income 60% in 2003 WILMINGTON,
N.C., Feb. 11 /PRNewswire-FirstCall/ -- Bank of Wilmington
announced today that it posted net income of $1,017,239, or $0.67
per diluted weighted average share, for 2003 -- a 60% increase over
2002 net income of $637,064. Total assets grew by 15% from $112.8
million at year-end 2002 to $129.8 million at year-end 2003. Net
loans outstanding rose 19% during the same period from $86.3
million to $102.4 million, while deposits totaled $106.1 million at
year-end 2003, an increase of 2% from $103.9 million at year-end
2002. "This marks our third consecutive profitable year and we
couldn't be more pleased with the overall performance of our bank,"
said Cameron Coburn, President, Chairman and CEO of Bank of
Wilmington. "The strength developing in our operating results is
the result of the incredible support of our shareholders and
customers, as well as the remarkable commitment of our staff." Bank
of Wilmington's common stock is traded on the Nasdaq SmallCap
Market under the symbol BKWW. Established in 1998, the bank has
three locations: the main office at 1117 Military Cutoff Road; a
branch office at 3702 South College Road in the Pine Valley
neighborhood; and a loan production office in Building 24-J, Suites
4 & 5, in Hampstead Village. Operating hours are Monday -
Friday, Lobby: 9 a.m. to 5 p.m. Drive Thru: 8:30 a.m. to 5 p.m.
DATASOURCE: Bank of Wilmington CONTACT: Jenny Padgett of Talk PR,
Inc., +1-910-395-5051, or Web site:
http://www.bankofwilmington.com/
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