Bank of Wilmington Announces Seventh Consecutive Profitable Quarter.Business Editors WILMINGTON Wilmington. 1 City (1990 pop. 71,529), seat of New Castle co., NE Del., on the Delaware River and tributary streams, the Christina and the Brandywine; settled 1638, inc. as a city 1832. , N.C.--(BUSINESS WIRE)--Nov. 6, 2002 Bank of Wilmington (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. : BKWW) announced today that it posted net income of $123,382, or $0.09 per share, for the three months ending September September: see month. 30, 2002 - the seventh consecutive quarter in which the bank has achieved a profit. Net income for the third quarter increased $59,720 over the third quarter 2001 net income of $63,662. Net income for the first nine months of 2002 was $444,314, up $368,397 over net income of $75,917 for the first nine months of 2001. Total assets grew to $110.7 million at September 30, 2002 - a 9% increase over the December 31, 2001 figure of $101.8 million. Net loans outstanding totaled $89.3 million at quarter end, an increase of $6.1 million, or 7% when compared to year end 2001. Deposits totaled $102 million - a 12% percent increase over year-end deposits. "At the conclusion of our seventh consecutive profitable quarter, I am pleased to report that we are on target with budgeted results. Despite a weak economy and volatile markets, Bank of Wilmington continues its earnings growth with considerable progress over the last year," 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. Bank of Wilmington's common stock is traded on the OTC Bulletin Board 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:
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