Bank of Wilmington Announces Second Quarter Profit of $253,589; Net Income Increases 41 Percent from 2nd Quarter 2002.Business Editors WILMINGTON, N.C.--(BUSINESS WIRE)--July 21, 2003 Bank of Wilmington (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BKWW) announced today that it posted net income of $253,589, or $0.18 per diluted share, for the three months ending June 30, 2003. "This quarter was rich in exciting milestones and achievements," said Cameron Coburn, President, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bank of Wilmington. "We were recognized as the fifth largest publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (a) in Wilmington, celebrated our fifth anniversary in June and posted our tenth consecutive profitable quarter." Net income for the second quarter of 2003 increased 41 percent over the net income for the second quarter of 2002. Net income for the first six months of 2003 was $503,640, an increase of 57 percent over the net income for the first six months of 2002. Total assets grew by one percent from $112.8 million at December 31, 2002 to $113.6 million at June 30, 2003. Net loans outstanding rose four percent during the same period from $86.3 million to $89.6 million, while deposits totaled $104.1 million at June 30, 2003, which represents a negligible increase over year-end deposits of $103.9 million. Bank of Wilmington's common stock is traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the trading symbol Trading symbol See: Ticker symbol BKWW. The bank has two locations: the main office at 1117 Military Cutoff Road and a branch office at 3702 South College Road in the Pine Valley Pine Valley may refer to:
(a) Ranked by market value as of 03/31/2003 by Triangle Business Journal. |
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