First Trust Second Quarter Earnings up 31% CHARLOTTE, N.C., July 25 /PRNewswire-FirstCall/ -- First Trust Bank (OTC:NCFT) (BULLETIN BOARD: NCFT) reported net income of $740 thousand or $0.32 per share for the quarter ended June 30, 2005, compared to net income of $565 thousand, or $0.27 per share, for the second quarter of 2004. This represents a 31% increase in net income over the same quarter last year. Net income for the six months ended June 30, 2005 totaled $1.4 million or $0.65 per share, compared to net income of $1.1 million or $0.53 per share, for the same period in 2004, an increase of 31%. Average return on equity and return on assets was 14.01% and 1.16% respectively compared to 14.05% and 1.07% for the same period last year. Per share amounts reflect the issuance of 405,000 shares in the secondary stock offering concluded in May, 2005. Net interest income for the first six months of 2005 was $5.0 million, an increase of $1.2 million or 32% over June 30, 2004. Assets at June 30, 2005 grew to $276 million, an increase of $53 million or 24% over the $223 million reported at June 30, 2004. Loans totaled $194 million at June 30, 2005, an increase of 20% over June 30, 2004. "Increased loan outstandings and an improving net interest margin contributed to these record results," said Jim Bolt, President and CEO. First Trust is a commercial bank whose target market is small to medium sized businesses and professionals. The bank operates three banking offices at 100 Queens Road, 2245 Rexford Road, Charlotte, NC and 108 Gateway Boulevard, Mooresville, NC. DATASOURCE: First Trust Bank CONTACT: Jean Galloway or Jim Bolt of First Trust Bank, +1-704-377-3936, or fax, +1-704-377-8869, or by e-mail at http://www.firsttrustnc.com/ Web site: http://www.firsttrustnc.com/

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