Progressive State Bank Shareholders Approve Merger With New Century Bank South
27 Abril 2006 - 12:27PM
PR Newswire (US)
FAYETTEVILLE, N.C., April 27 /PRNewswire-FirstCall/ -- At the 2006
Annual Meeting of Shareholders for Progressive State Bank, the
shareholders voted to approve a merger with New Century Bank South,
announced Bill Hedgepeth, president and CEO of New Century Bank
South. "With this approval in place, we are excited to be moving
ahead," Hedgepeth said. "Plans call for the merger to be completed
this summer. We look forward to welcoming Progressive State Bank's
customers, as we believe we offer competitive products and services
with benefits they will enjoy." New Century Bank South is
headquartered in Fayetteville, NC and has one office and a
headquarters on Raeford Road. Progressive State Bank, headquartered
in Lumberton, NC, has five branches located in Robeson, Hoke, and
Bladen counties. New Century Bancorp (OTC:NCBC) (BULLETIN BOARD:
NCBC) is the holding company for New Century Bank South and New
Century Bank. As of December 31, 2006, New Century Bancorp reported
total assets of $436.4 million. http://www.newcenturybanknc.com/
The information as of and for the quarter ended December 31, 2006,
as presented is unaudited. This news release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, without
limitation, (i) statements regarding certain of our goals and
expectations with respect to earnings, earnings per share, revenue,
expenses and the growth rate in such items, as well as other
measures of economic performance, including statements relating to
estimates of credit quality trends, and (ii) statements preceded
by, followed by or that include the words "may", "could", "should",
"would", "believe", "anticipate", "estimate", "expect", "intend",
"plan", "projects", "outlook" or similar expressions. The actual
results might differ materially from those projected in the
forward-looking statements for various reasons, including, but not
limited to, our ability to manage growth, 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 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.
DATASOURCE: New Century Bank South CONTACT: Bill Hedgepeth,
President and CEO of New Century Bank South, +1-910-485-5855, or ;
or Roland T. Orr, President, Progressive State Bank,
+1-910-738-1478, or Web site: http://www.newcenturybanknc.com/
Copyright