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Bank of Commerce Proposed Files FDIC NC Applications

May 27, 2005 -- Bank of Commerce (Proposed) filed bank applications with both the North Carolina Banking Commission and the Federal Deposit Insurance Corporation (FDIC) May 13, 2005.



These applications seek approval for the Bank to open for business upon successful completion of its stock offering and a regulatory review and hearing process.



"There is a strong case to be made for a business bank in the Charlotte region," says Wes Sturges, President of Bank of Commerce. "We believe that the market data we have gathered - combined with the interest this proposed bank has generated in the Charlotte market - provides a compelling reason to approve our applications. Bank of Commerce (Proposed) has set a schedule to begin serving small and mid-sized businesses this fall, and we are confident that we will raise our required capital and receive regulatory approvals to that end."



Bank of Commerce (Proposed) plans to serve the needs of small to mid-sized businesses in the Charlotte, NC area. From its midtown Charlotte office, it will offer guidance to customers from experienced loan officers, in addition to start-up capital and other financial products and services. Online banking, courier service and extended deposit hours will be additional hallmarks of the Bank of Commerce (Proposed), www.bankofcommercenc.com.

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