NewBridge Reports Record 2013 Net Income

NewBridge Reports Record 2013 Net Income

Full-year 2013 Highlights

  *Net income to common shareholders totals $18.9 million compared to a loss
    in 2012
  *Loans increased $261 million for the year; organic growth totals $140
    million, or 12%
  *Noninterest-bearing deposit balances increased 17%, or $35 million
  *Common equity increased $64.1 million
  *Redeemed $37 million preferred stock

Fourth-quarter 2013 Highlights

  *Completed acquisition of Security Savings Bank and successful core
    conversion
  *Announced planned acquisition of CapStone Bank
  *Loans increased $150 million; organic growth totaled $29 million
  *Nonperforming loans are 0.49% of total assets at year end
  *Net interest income climbs 7% from the previous quarter

Fourth-quarter 2013 Results Included

  *Net income to common shareholders totals $1.2 million
  *Merger costs of $2.2 million
  *Recourse obligation expense of $356,000

GREENSBORO, N.C., Jan. 28, 2014 (GLOBE NEWSWIRE) -- NewBridge Bancorp
(Nasdaq:NBBC) today reported record earnings for the year ended December 31,
2013. Net income available to common shareholders totaled $18.9 million,
compared to a loss of $28.2 million reported for the previous year ended
December 31, 2012. Earnings per diluted common share for 2013 were $0.65
compared to ($1.80) per share reported a year ago. Prior year results were
affected by expense related to a plan to aggressively dispose of problem
assets. Net income available to common shareholders for the fourth quarter of
2013 totaled $1.2 million, compared to $4.0 million in the fourth quarter of
2012. Earnings per diluted common share were $0.04 compared to $0.19 per share
a year ago. Results for the three months and year ended December 31, 2013
included merger related costs of $2.2 million. In addition, the Company
recorded a tax benefit of $3.2 million in 2013 due to the reversal of a
previously recorded valuation allowance against the Company's deferred tax
asset.

"Our accomplishments for the year were substantial. We successfully executed
on our growth strategy, transitioning from our prior year's efforts to improve
asset quality and raise capital. NewBridge posted record pre-tax earnings in
2013, approaching $20 million, excluding merger expense. Earnings were
bolstered by strong organic loan growth and by continued improvement in asset
quality, along with a material reduction in credit cost. Nonperforming loans
declined to 0.49% of total assets at December 31, 2013, and the provision for
credit costs declined $33.2 million from the prior year to $2.7 million for
the year ended December 31, 2013. While the fourth quarter results show a
decrease from the previous year, there were numerous merger costs and one-time
items impacting the bottom line. The core operations remain strong," said
Pressley A. Ridgill, President and Chief Executive Officer.

"Core deposits, not including time deposits, increased 10.4%, or $104 million,
during the year, and loan balances increased 22.6%, or $261 million. Vitally
important organic loan growth totaled 12%, or $140 million, for the year.
Expansion efforts were bolstered substantially through loan production offices
in Charlotte and Raleigh, which became full-service bank locations during the
year. These locations rapidly became profitable and generated a significant
portion of the Company's organic loan growth. Complementing this growth
strategy, the Company reorganized its lending teams into specialty groups,
expanding its staff and expertise in commercial real estate, C&I and
construction development in each of the four major metropolitan markets we
serve in North Carolina. At the same time, the Company reduced staff in
low-growth markets."

Ridgill continued, "Our strategic plan balances organic growth with
disciplined acquisitions in targeted metropolitan and contiguous markets. The
Company closed on its previously announced acquisition of Security Savings
Bank on October 1, 2013 and completed the related systems conversion in early
November. The bases for anticipated cost savings from this transaction are
largely in place as the Company begins 2014. On November 1, 2013 the Company
announced further plans to merge with CapStone Bank, which significantly
enhances the Company's commercial lending capacity in our Raleigh market. The
merger with CapStone Bank is expected be completed in the second quarter of
2014 after which NewBridge will be a $2.5 billion institution with 40 branches
and deep in-roads into four of the largest metropolitan areas in North
Carolina."

Net Interest Income

Net interest income increased 9.9%, or $1.5 million, to $16.9 million for the
quarter ended December 31, 2013 compared to the quarter ended December 31,
2012.Average earning assets increased 13.0%, or $204 million, to $1.78
billion during the quarter compared to the same period a year ago.Average
loan balances grew $238 million between the linked periods, in part due to
$131 million of average loans acquired from the Security Savings Bank
merger.Growth in net interest income for the three months ended December 31,
2013 was, however, partially offset by elevated costs on acquired
borrowings.These borrowings were repaid during the quarter and will not
affect future periods.The net interest margin on a linked-quarter basis
declined 12 basis points to 3.79%.For the full-year, net interest income
declined $390,000 to $63.2 million.Average earning assets climbed $58.6
million, or 3.7%, to $1.63 billion for the year; however, the net interest
margin fell 17 basis points to 3.89% primarily due to lower yields on new and
renewed loans.

Noninterest Income

Noninterest income declined $641,000 from the prior year period to $4.1
million for the quarter ended December 31, 2013 primarily due to 1)
substantially lower mortgage revenue, which declined $491,000 to $297,000 for
the quarter due to a lower level of mortgage loan production resulting from
increases in interest rates, and 2) lower retail banking revenue, which
declined $215,000 to $2.6 million.These declines were partially offset by an
increase in wealth management fees, which totaled $638,000 for the fourth
quarter, a 16% increase compared to the same period a year ago.For the year
ended December31, 2013, noninterest income rose $566,000 to $17.5
million.The increase was due to higher retail banking revenue, increased
wealth management fees and a gain on sale of securities, which was partially
offset by lower mortgage revenue.

Noninterest Expense

Noninterest expense totaled $18.4 million for the December quarter and $60.4
million for the year.For the quarter, noninterest expense increased $4.4
million to $18.4 million due in part to merger related costs, loan recourse
obligation expenses, and non-merger related costs related to Security Savings
Bank.In the fourth quarter, the Company recorded $2.2 million of merger
related costs, which included $2.0 million related to Security Savings Bank
and $260,000 related to the CapStone Bank merger.In addition, in the most
recent quarter, the Company recorded a recourse obligation expense of $356,000
to cover estimated losses on nonperforming loans sold prior to September 2008.
NewBridge Bank did not sell a significant number of mortgage loans prior to
the recession of 2008 and does not anticipate further losses related to
mortgage recourse obligations.Finally, operating costs were elevated due to
the acquisition of Security Savings Bank.It is anticipated, however, that the
projected cost savings of the Security Savings Bank acquisition will begin to
be realized in the 2014 first quarter.

Balance Sheet

Total assets increased $162.9 million for the quarter and $256.5 million for
the year to $1.97 billion at December 31, 2013.Loans held for investment
increased $150.3 million, or 11.9%, for the quarter and $261.3 million, or
22.6%, for the year.In the fourth quarter, the Company benefited from the
addition of Security Savings Bank's net loan portfolio, which totaled $121.5
million at December 31, 2013. Excluding merger related loan growth, the
Company increased loans $28.7 million in the fourth quarter, an annualized
rate of 9%.Organic loan growth totaled $140 million for the year, a growth
rate of 12%.Total deposits increased $142.0 million to $1.55 billion at the
quarter end.For the year, deposit balances increased $221.5 million.Core
deposits, excluding time deposits, totaled 70.9% of total deposits at December
31, 2013.Common equity increased $3.9 million for the quarter and $64.1
million for the year.Accumulated other comprehensive income increased $2.6
million for the fourth quarter, due primarily to changes in the value of the
Company's frozen pension plan liability.Retained earnings totaled $1.2
million for the quarter.For the year, the change in common equity was due to
the addition of $56.1 million of common equity from the conversion of
preferred stock, which was partially offset by a $7.8 million reduction in
equity from the repurchase of the TARP warrant and a $3.4 million decline in
accumulated other comprehensive income for the year. The acquisition of
Security Savings Bank created an additional $5.6 million of intangible assets
during the quarter, including $1.5 million of core deposit intangibles and
$4.1 million of goodwill.

Asset Quality

Asset quality steadily improved throughout 2013.Nonperforming assets as a
percentage of total assets declined to 0.90% at December 31, 2013 from 1.56%
at December 31, 2012.Nonperforming loans totaled $9.6 million and OREO
totaled $8.0 million at year end.The allowance for credit losses was $24.6
million at December 31, 2013, or 254.6% of nonperforming loans, compared to
$26.6 million, or 124.7%, at December 31, 2012.At December 31, 2013, the
assets acquired from Security Savings Bank included $121.5 million of loans
and $4.3 million of OREO initially recorded at fair value on October 1, 2013,
the acquisition date.In the fourth quarter, the Company charged off $1.09
million of loans acquired from Security Savings Bank.The credit discount
previously established against those specific loans was $1.00 million.

Outlook

As we look forward to 2014, we anticipate continued robust organic loan and
deposit growth through the execution of our core growth strategies. Cultural
and sales integration of CapStone Bank and Security Savings Bank remains a
near term focus.We are committed to building efficiency and unlocking
additional earnings power not only within the acquired institutions but also
within our existing franchise. Merger costs related to the CapStone
acquisition are expected to occur mostly in the second quarter of 2014.We
will remain opportunistic, seizing upon opportunities to add talented bankers,
individually or possibly in teams, in select geographic markets, and will
continue to explore opportunities to expand through carefully evaluated
acquisitions.We believe the Company's net interest margin will generally
remain under pressure from an interest rate environment that likely will be
unchanged for 2014.Upon completion of the merger with CapStone, we anticipate
the Company will approach $2.5 billion in assets and will achieve improved
profitability.

Use of Non-GAAP Measures

Tangible common shareholders' equity percentages have become a focus of some
investors.Because tangible common shareholders' equity is not formally
defined by GAAP, this measure is considered to be a non-GAAP financial
measure, and other entities may calculate it differently.Since analysts and
banking regulators may assess our capital adequacy using tangible common
shareholders' equity, management believes that it is useful to provide
investors with the ability to assess the Company's capital adequacy on the
same basis.

About NewBridge Bancorp

NewBridge Bancorp is the bank holding company for NewBridge Bank, a full
service, state-chartered community bank headquartered in Greensboro, North
Carolina. The stock of NewBridge Bancorp trades on the NASDAQ Global Select
Market under the symbol "NBBC."

As one of the largest community banks in North Carolina, NewBridge Bank serves
small to midsize businesses, professionals and consumers with a comprehensive
array of financial services, including retail and commercial banking, private
banking, wealth management and mortgage banking. Upon the closing of the
Security Savings Bank acquisition, NewBridge Bank has assets of approximately
$2.0 billion and36 branches and several loan production offices in North
Carolina.

Disclosures About Forward Looking Statements

The discussions included in this document and its exhibits may contain forward
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including Section 21E of the Securities Exchange Act of
1934 and Section27A of the Securities Act of 1933.Such statements involve
known and unknown risks, uncertainties and other factors that may cause actual
results to differ materially.For the purposes of these discussions, any
statements that are not statements of historical fact may be deemed to be
forward looking statements.Such statements are often characterized by the use
of qualifying words such as "expects," "anticipates," "believes," "estimates,"
"plans," "projects," or other statements concerning opinions or judgments of
NewBridge and its management about future events.The accuracy of such forward
looking statements could be affected by factors including, but not limited to,
the financial success or changing conditions or strategies of NewBridge's
customers or vendors, fluctuations in interest rates, actions of government
regulators, the availability of capital and personnel or general economic
conditions.These forward looking statements express management's current
expectations, plans or forecasts of future events, results and condition,
including financial and other estimates and expectations regarding the
acquisitions of Security Savings Bank and CapStone Bank and the general
business strategy of engaging in bank acquisitions.Additional factors that
could cause actual results to differ materially from those anticipated by
forward looking statements are discussed in NewBridge's filings with the
Securities and Exchange Commission, including without limitation its annual
report on Form 10-K, quarterly reports on Form 10-Q and current reports on
Form 8-K.NewBridge undertakes no obligation to revise or update these
statements following the date of this press release.

FINANCIAL SUMMARY                                                                        
                                                                                        
                   Three Months Ended                    Twelve Months Ended                
                    December 31                            December 31
                   2013         2012                     2013         2012                  
Income Statement                                                                         
Data
(Dollars in
thousands, except                                                                        
share data)
Interest income:                                                                         
Loans               $15,482    $14,089                $56,617    $57,676             
Investment          3,057       2,799                   12,179      13,364               
securities
Other               8           10                      23          40                   
Total interest      18,547      16,898                  68,819      71,080               
income
Interest expense:                                                                        
Deposits            869         918                     3,116       5,135                
Borrowings from the 427         252                     1,195       1,012                
FHLB
Other               338         335                     1,332       1,367                
Total interest      1,634       1,505                   5,643       7,514                
expense
Net interest income 16,913      15,393                  63,176      63,566               
Provision for       642         1,209                   2,691       35,893               
credit losses
Net interest income
after provision for 16,271      14,184                  60,485      27,673               
credit losses
Noninterest income:                                                                      
Retail banking      2,636       2,851                   10,228      9,739                
Mortgage banking    297         788                     1,644       2,636                
services
Wealth management   638         549                     2,570       2,349                
services
Gain on sale of
investment          --          --                      736         3                    
securities
Bank-owned life     322         323                     1,429       1,494                
insurance
Other               176         199                     847         667                  
Total noninterest   4,069       4,710                   17,454      16,888               
income
Noninterest                                                                              
expense:
Personnel           8,717       7,554                   32,104      29,354               
Occupancy           1,135       988                     4,208       5,171                
Furniture and       991         840                     3,501       3,335                
equipment
Technology and data 1,121       988                     4,192       4,063                
processing
Legal and           652         810                     2,683       3,029                
professional
FDIC insurance      236         444                     1,565       1,770                
Real estate
acquired in         159         154                     (126)       15,726               
settlement of loans
Merger related      2,166       --                      2,232       --                   
expense
Other               3,213       2,179                   10,025      9,965                
Total noninterest   18,390      13,957                  60,384      72,413               
expense
Income before       1,950       4,937                   17,555      (27,852)             
income taxes
Income tax expense  524         173                     (3,216)     (2,598)              
(benefit)
Net income          1,426       4,764                   20,771      (25,254)             
Dividends and
accretion on        (237)       (730)                   (1,854)     (2,918)              
preferred stock
Net income
available to common $1,189     $4,034                 $18,917    $(28,172)           
shareholders
Net income per      $0.04        $0.26                    $0.71        ($1.80)               
share - basic
Net income per      $0.04        $0.19                    $0.65        ($1.80)               
share - diluted
                                                                                        
FINANCIAL SUMMARY                                                                        
                                                                                        
                   2013                                                2012                  
                   Fourth       Third        Second       First        Fourth                
                   Quarter      Quarter      Quarter      Quarter      Quarter               
Period-End Balance                                                                       
Sheet
(Dollars in                                                                              
thousands)
Assets                                                                                   
Loans held for sale $3,530     $3,744     $5,908     $2,439     $9,464              
Loans held for      1,416,703   1,266,361   1,199,711   1,169,887   1,155,421            
investment
Allowance for       (24,550)    (25,385)    (26,395)    (26,067)    (26,630)             
credit losses
Net loans held for  1,392,153 * 1,240,976   1,173,316   1,143,820   1,128,791            
investment
Investment          368,866     357,537     378,011     398,382     393,815              
securities
Other earning       3,915       24,583      2,109       11,752      9,006                
assets
Non-earning assets  196,768     175,502     170,751     155,686     167,631              
Total Assets        $1,965,232 $1,802,342 $1,730,095 $1,712,079 $1,708,707          
                                                                                        
Liabilities and
Shareholders'                                                                            
Equity
Noninterest-bearing $240,979   $241,246   $225,089   $214,642   $206,023            
deposits
Savings deposits    62,353      48,794      49,008      47,050      44,450               
NOW accounts        439,624     413,268     425,129     425,307     424,720              
Money market        359,174     334,091     345,482     324,864     323,326              
accounts
Time deposits       451,866     374,611     320,759     341,091     333,974              
Total deposits      1,553,996   1,412,010   1,365,467   1,352,954   1,332,493            
                    **
Total borrowings    229,774     209,474     185,074     138,774     159,774              
Other liabilities   14,670      18,012      18,856      20,393      20,426               
Shareholders'       166,792     162,846     160,698     199,958     196,014              
equity
Total Liabilities
and Shareholders'   $1,965,232 $1,802,342 $1,730,095 $1,712,079 $1,708,707          
Equity
                                                                                        
* Includes $121.5 million from Security Savings Bank acquisition                              
** Includes $154.3 million from Security Savings Bank acquisition                             
                                                                                        
ASSET QUALITY DATA                                                                       
                                                                                        
(Dollars in                                                                              
thousands)
Loans identified as $5,879     $9,607     $10,610    $15,772    $16,400             
impaired
Other nonperforming 3,762       1,930       3,222       3,642       4,960                
loans
Total nonperforming $9,641     $11,537    $13,832    $19,414    $21,360             
loans
                                                                                        
Total nonperforming $9,641     $11,537    $13,832    $19,414    $21,360             
loans
Other real estate   8,025       2,695       4,508       4,781       5,355                
owned
Total nonperforming $17,666    $14,232    $18,340    $24,195    $26,715             
assets
                                                                                        
Net chargeoffs      1,477       1,043       709         1,542       9,595                
Allowance for       24,550      25,385      26,395      26,067      26,630               
credit losses
Allowance for
credit losses to    1.73%        2.00%        2.20%        2.23%        2.30%                 
loans held for
investment
Nonperforming loans
to loans held for   0.68         0.91         1.15         1.66         1.85                  
investment
Nonperforming
assets to total     0.90         0.79         1.06         1.41         1.56                  
assets
Nonperforming loans 0.49         0.64         0.80         1.13         1.25                  
to total assets
Net chargeoff
percentage          0.42        0.34        0.24        0.54        3.26                  
(annualized)
Allowance for
credit losses to    254.64       220.03       190.83       134.27       124.67                
nonperforming loans
                                                                                        
Allowance for       Three Months Ended                     Twelve Months Ended
credit losses       December 31                           December 31                        
rollforward
                   2013         2012                     2013         2012                  
                                                                                        
Beginning balance   $25,385    $35,016                $26,630    $28,844             
Chargeoffs          2,621       10,637                  8,526       40,611               
Recoveries          1,144       1,042                   3,755       2,504                
Net chargeoffs      1,477       9,595                   4,771       38,107               
Provision for       642         1,209                   2,691       35,893               
credit losses
Ending balance      $24,550    $26,630                $24,550    $26,630             
                                                                                        
INVESTMENT                                                                               
PORTFOLIO
                                                                                        
(Dollars in         As of December 31, 2013                                                  
thousands)
                   Amortized  Gross      Gross      Estimated  Average      Average   
                   Cost       Unrealized  Unrealized  Fair value Yield (%)  Duration  
                                 gain        loss                                  (years)
US Agency*          $77,823    $--        $(4,562)   $73,261    2.09 %      7.32     
Agency mortgage     46,656      1,261       --          47,917      3.38        4.96     
backed securities*
Collateralized
mortgage            6,611       163         --          6,774       5.63        2.60     
obligations
Commercial mortgage 38,367      1,123       (102)       39,388      3.32        3.36     
backed securities
Covered bonds       49,937      2,924       (233)       52,628      3.49        2.90     
Corporate bonds*    110,772     4,066       (572)       114,266     4.00        4.38     
Municipal           16,985      161         (301)       16,845      6.39 **     8.33     
obligations*
Federal Home Loan   9,988       --          --          9,988                            
Bank stock
Other               7,672       596         (469)       7,799                            
Total               $364,811   $10,294    $(6,239)   $368,866   3.49 **    4.96     
                                                                                        
* Includes held-to-maturity securities carried at cost with no gains or losses shown in the
table above.Total cost of held-to-maturity securities is $67,317.Total estimated fair value  
of held-to-maturity securities is $65,439.
** Fully taxable equivalent basis                                                              
                                                                                        
COMMON STOCK DATA                                                                        
                                                                                        
                   2013                                                2012                  
                   Fourth       Third        Second       First        Fourth                
                   Quarter      Quarter      Quarter      Quarter      Quarter               
                                                                                        
Market value:                                                                            
End of period       $7.43      $7.29      $5.99      $5.89      $4.63               
High                7.92        9.17        6.41        6.48        4.95                 
Low                 6.40        5.96        5.55        4.50        3.92                 
Book value          5.33        5.19        5.12        5.19        5.58                 
Tangible book value 5.05        5.10        5.02        5.09        5.38                 
Average shares      28,478,316  28,478,316  28,461,665  21,055,250  15,655,868           
outstanding
Average diluted     28,584,755  28,572,565  29,139,456  29,699,040  20,978,610           
shares outstanding
                                                                                        
OTHER DATA                                                                               
                                                                                        
                   Three Months Ended                    Twelve Months Ended                
                    December 31                            December 31
                   2013         2012                     2013         2012                  
                                                                                        
Tangible common     $143,949   $84,301                $143,949   $84,301             
equity
Return on average   0.29%      1.11%                  1.17%      (1.46)%             
assets
Return on average   3.45        11.83                   11.75       (15.18)              
equity
Net yield on        3.79        3.91                    3.89        4.06                 
earning assets
Average loans to    72.45       68.78                   70.14       68.19                
assets
Average loans to    90.06       84.83                   88.25       83.29                
deposits
Average
noninterest-bearing 16.12       15.14                   16.18       13.91                
deposits to total
deposits
Average equity to   8.43        9.40                    9.94        9.65                 
assets
Total capital as a
percentage of total 11.71       16.48                   11.71       16.48                
risk weighted
assets*
Tangible common
equity as a         7.35        4.94                    7.35        4.94                 
percentage of
tangible assets
Tangible common
equity as a
percentage of total 9.48        6.32                    9.48        6.32                 
risk weighted
assets
                                                                                        
* Tax planning strategies eliminated from the calculation of the Company's                    
regulatory risk based capital percentages beginning second quarter 2013
                                                                                        
ANALYSIS OF YIELDS                                                                       
AND RATES
                                                                                        
                   Three Months Ended December 31, 2013               Three Months Ended December
                                                                        31, 2012
                   Average      Interest     Average                  Average      Interest  Average
                                 Income/      Yield/                                 Income/   Yield/
                   Balance      Expense      Rate                     Balance      Expense   Rate
(Fully taxable
equivalent basis,                                                                        
dollars in
thousands)
Earning Assets                                                                           
Loans receivable    $1,409,800 $15,482    4.36%                    $1,171,779 $14,089 4.78%
Investment          359,510     3,140       3.49%                    382,061     2,887    3.02%
securities
Other earning       10,173      8           0.31%                    21,274      10       0.19%
assets
Total Earning       1,779,483   18,630      4.15%                    1,575,114   16,986   4.29%
Assets
Non-Earning Assets  166,517                                         128,506              
Total Assets        $1,946,000 18,630                              $1,703,620 16,986   
                                                                                        
Interest-Bearing                                                                         
Liabilities
Deposits            $1,313,088 869         0.26%                    $1,172,221 918      0.31%
Borrowings          197,630     765         1.54%                    142,834     587      1.63%
Total
Interest-Bearing    1,510,718   1,634       0.43%                    1,315,055   1,505    0.46%
Liabilities
Noninterest-bearing 252,320                                         209,067              
deposits
Other liabilities   18,949                                          19,332               
Shareholders'       164,013                                         160,166              
equity
Total Liabilities
and Shareholders'   $1,946,000 1,634                               $1,703,620 1,505    
Equity
Net Interest Income             $16,996                                        $15,481 
Net Interest Margin                         3.79%                                         3.91%
Interest Rate                               3.72%                                         3.83%
Spread
                                                                                        
                   Twelve Months Ended December 31, 2013              Twelve Months Ended December
                                                                        31, 2012
                   Average      Interest     Average                  Average      Interest  Average
                                 Income/      Yield/                                 Income/   Yield/
                   Balance      Expense      Rate                     Balance      Expense   Rate
(Fully taxable
equivalent basis,                                                                        
dollars in
thousands)
Earning Assets                                                                           
Loans receivable    $1,247,095 $56,617    4.54%                    $1,175,938 $57,676 4.90%
Investment          379,014     12,549      3.31%                    382,288     13,733   3.59%
securities
Other earning       7,656       23          0.30%                    16,923      40       0.24%
assets
Total Earning       1,633,765   69,189      4.23%                    1,575,149   71,449   4.54%
Assets
Non-Earning Assets  144,304                                         149,306              
Total Assets        $1,778,069 69,189                              $1,724,455 71,449   
                                                                                        
Interest-Bearing                                                                         
Liabilities
Deposits            $1,184,485 3,116       0.26%                    $1,215,450 5,135    0.42%
Borrowings          168,909     2,527       1.50%                    126,898     2,379    1.87%
Total
Interest-Bearing    1,353,394   5,643       0.42%                    1,342,348   7,514    0.56%
Liabilities
Noninterest-bearing 228,635                                         196,365              
deposits
Other liabilities   19,302                                          19,362               
Shareholders'       176,738                                         166,380              
equity
Total Liabilities
and Shareholders'   $1,778,069 5,643                               $1,724,455 7,514    
Equity
Net Interest Income             $63,546                                        $63,935 
Net Interest Margin                         3.89%                                         4.06%
Interest Rate                               3.82%                                         3.98%
Spread

CONTACT: Investors may contact:
        
         Ramsey Hamadi, Chief Financial Officer
         336-369-0975
         Richard Cobb, Controller & Chief Accounting Officer
         336-369-0914
         David Barksdale, Chief Strategy Officer
         336-369-0939
 
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