Printer Friendly
Email to a Friend
Enlarge Font
Decrease Font
All rights reserved. This copyrighted material may not be published, broadcast or redistributed in any manner.
Story Tools
More Local & State
Advertisements
RALEIGH — The corporate parent of North State Bank said it has completed the private sale of $11 million in bonds to institutional investors.“In this uncertain financial market, we are very pleased to have raised this additional capital,” CEO Larry Barbour said in a prepared statement. “We believe the sale reflects the high regard in which North State Bank is held by the investing community.”The new capital "will allow us to continue the growth we have been experiencing," said Kirk Whorf, chief financial officer. The eight-year-old bank, which is based in Raleigh, has seven branches in Wake and New Hanover Counties, plus a loan production office in Carteret County.North State announced the debt sale Tuesday afternoon after the markets closed. Shares of the publicly traded bank didn’t trade on Tuesday. On Monday, shares closed at $10.75, down five cents. Shares have fallen 16 percent this year.
No comments have been posted for this story. Log in to be the first to comment.
The News & Observer is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.
Since The News & Observer does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not The News and Observer.
If you find a comment offensive, clicking on the exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.
