CHARLOTTE, N.C., July 27 /PRNewswire-FirstCall/ -- First Trust Bank (OTC:NCFT) (BULLETIN BOARD: NCFT) reported net income of $943 thousand or $0.29 per diluted share for the quarter ended June 30, 2006, compared to net income of $740 thousand, or $0.25 per diluted share, for the second quarter of 2005. This represents a 27% increase in net income over the same quarter last year. Net income for the six months ended June 30, 2006 totaled $1.9 million or $0.58 per diluted share, compared to net income of $1.4 million or $0.50 per diluted share, for the same period in 2005, an increase of 31%. Return on average equity and return on average assets for the first six months of 2006 was 13.14% and 1.18% respectively compared to 14.01% and 1.16% for the same period last year. Net interest income for the first six months of 2006 was $6.3 million, an increase of $1.4 million or 28% over June 30, 2005. Assets at June 30, 2006 grew to $349.8 million, an increase of $73.5 million or 27% over the $276.3 million reported at June 30, 2005. Loans totaled $248.2 million at June 30, 2006, an increase of 28% over June 30, 2005. First Trust Bank specializes in serving the banking needs of small businesses and professionals in the Charlotte, Mooresville, Davidson, Cornelius, Huntersville, Concord and Monroe markets. The Bank operates three banking offices at 1420 East Third Street and 2245 Rexford Road, Charlotte, NC and 108 Gateway Boulevard, Mooresville, NC; and two loan production offices at 916 Copperfield Boulevard in Concord, NC and 2610 W. Roosevelt Boulevard, Monroe, NC. SELECTED FINANCIAL DATA FIRST TRUST BANK (dollars in thousands, except per share) June 30, June 30, 2006 2005 SELECTED BALANCE SHEET DATA (Unaudited) (Unaudited) Total Loans $248,187 $194,342 Allowance for loan losses (3,669) (3,083) Investment securities 65,784 56,228 Total assets 349,825 276,250 Deposits 281,501 224,929 Borrowed funds 36,419 22,742 Shareholders' equity 28,998 26,551 June 30, June 30, % 2006 2005 Change For the quarter ended (Unaudited) (Unaudited) Net interest income $3,270 $2,625 24.6% Provision for loan losses 137 174 -21.3% Other income 85 81 4.9% Other expenses 1,624 1,346 20.7% Income tax expense 651 446 46.0% Net income $943 $740 27.4% Per Share Data (1) Net income per share-basic $0.31 $0.26 Net income per share-diluted $0.29 $0.25 June 30, June 30, % 2006 2005 Change For the six months ended (Unaudited) (Unaudited) Net interest income $6,319 $4,950 27.7% Provision for loan losses 278 212 31.1% Other income 158 145 9.0% Other expenses 3,157 2,602 21.3% Income tax expense 1,172 858 36.6% Net income $1,870 $1,423 31.4% Per Share Data (1) Net income per share-basic $0.62 $0.54 Net income per share-diluted $0.58 $0.50 (1) Adjusted to reflect the six-for-five stock split effected in the form of a 20% stock dividend paid in November 2005. DATASOURCE: First Trust Bank CONTACT: Jean Galloway or Jim Bolt both 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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