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North State Bancorp Reports Profitable 2008
Date:1/29/2009

uction office in Carteret County at 4650-A Arendell Street, Morehead City, NC.


    Stock Symbol: OTC-BB: NSBC                         www.northstatebank.com

The information as of and for the quarter and year ended December 31, 2008 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 the local, regional and national economies, substantial changes in financial markets, changes in real estate values and the real estate market, changes in interest rates, our ability to manage growth, loss of deposits and loan demand to other savings and financial institutions, and regulatory changes. 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.



     North State Bancorp
    Selected Financial Information and Other Data (Unaudited)

                                    At or for the Three    At or for the
                                       Months Ended         Year Ended
                                       December 31,         December 31,
                                     2008       2007       2008       2007
                                   (Dollars in thousands, except per share)
    Earnings Summary:
      Total interest income         $9,103     $8,858    $36,075    $32,738
      Total interest expense         4,145      4,300     15,817     15,439
        Net interest income          4,958      4,558     20,258     17,299
      Provision for loan losses        881        662      2,755      1,339
        Net interest income after
         provision for loan los
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SOURCE North State Bancorp
Copyright©2009 PR Newswire.
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