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

ses 4,077 3,896 17,503 15,960 Noninterest income 201 275 1,226 1,121 Noninterest expense 3,388 3,176 14,809 12,033 Income before income taxes 890 995 3,920 5,048 Income taxes 383 385 1,555 1,953 Net income $507 $610 $2,365 $3,095 Share and Per Share Data: Earnings per share - basic $0.07 $0.09 $0.33 $0.45 Earnings per share - diluted $0.07 $0.08 $0.32 $0.42 Book value per share $4.96 $4.52 $4.96 $4.52 Weighted average shares outstanding: Basic 7,171,268 6,972,779 7,158,545 6,917,365 Diluted 7,333,067 7,298,720 7,356,364 7,301,377 Financial Condition Period End: Cash, federal funds sold and due from banks $88,272 $30,766 $88,272 $30,766 Investment securities 37,156 34,843 37,156 34,843 Loans 546,357 469,228 546,357 469,228 Less allowance for loan losses 6,376 5,020 6,376 5,020 Other assets 22,172 17,703 22,172 17,703 Total assets $687,581 $547,520 $687,581 $547,520 Deposits $612,678 $457,310 $612,678 $457,310 Other borrowings 35,093 54,218 35,093 54,218 Other liabilities 4,264 4,435 4,264 4,435 Shareholders' equity 35,546 31,557 35,546 31,557 Total liabilities and shareholders' equity $687,581 $547,520 $687,581 $547,520 Financial Condition Average Balances:
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SOURCE North State Bancorp
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