Parkway Bank Surpasses $100 Million
08 December 2006 - 2:00AM
PR Newswire (US)
LENOIR, N.C., Dec. 7 /PRNewswire-FirstCall/ -- Parkway Bank
(OTC:PKWY) (BULLETIN BOARD: PKWY) today reported that total assets
surpassed $100 million in November. Parkway began operations in
August of 2001 and deposits, loans and total assets has
consistently grown each year over the previous year since
inception. At September 30, 2006, shareholders' equity was $13.2
million and by industry standards is considered a well-capitalized
bank. Parkway Bank President and CEO, Gary Clawson stated that, "We
originally projected total assets would reach $100 million by the
time we reached 5 years of age. We were a couple of months off. Our
approach is conservative and we take pleasure in consistent and
steady growth. Despite 9/11 occurring a month after we opened,
interest rates plunging, along with the considerable job losses in
our county, we've been fortunate. Earnings have been better than
expected and we continue to focus our efforts on serving Caldwell
County and its residents. We are the only bank that has branches
just in Caldwell County and we are proud of this fact. Our
commitment is now even clearer as our Granite Falls branch is
projected to open in mid 2007." Parkway Bank is a community bank
operating two branches in Caldwell County, North Carolina. For more
information about the Bank and our products and services, contact
Parkway Bank at 828-758-1414, or visit
http://www.parkwaybanknc.com/. DATASOURCE: Parkway Bank CONTACT:
Gary T. Clawson, President and CEO of Parkway Bank, +1-828-758-1414
Web site: http://www.parkwaybanknc.com/
Copyright