CHARLOTTE, N.C., Oct. 23 /PRNewswire-FirstCall/ -- First Trust Bank (OTC:NCFT) (BULLETIN BOARD: NCFT) reported net income of $998 thousand or $0.31 per diluted share for the quarter ended September 30, 2006, compared to net income of $807 thousand, or $0.25 per diluted share, for the third quarter of 2005. This represents a 24% increase in net income over the same quarter last year. Net income for the nine months ended September 30, 2006 totaled $2.9 million or $.90 per diluted share, compared to net income of $2.2 million or $0.75 per diluted share, for the same period in 2005, an increase of 32%. Return on average equity and return on average assets for the first nine months of 2006 was 13.18% and 1.19% respectively. Net interest income for the first nine months of 2006 was 9.4 million, an increase of $1.6 million or 21% over September 30, 2005. Assets at September 30, 2006 were $341 million, an increase of $49.0 million or 17% over the $292 million reported at September 30, 2005. Loans totaled $249 million at September 30, an increase of 21% over September 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. For additional information, please contact Jean Galloway or Jim Bolt at 704-377-3936 (fax 704-377-8869) or by e-mail at http://www.firsttrustnc.com/ . SELECTED FINANCIAL DATA FIRST TRUST BANK (dollars in thousands, except per share) September 30, September 30, 2006 2005 SELECTED BALANCE SHEET DATA (Unaudited) (Unaudited) Total Loans $248,581 $205,987 Allowance for loan losses (3,703) (3,302) Investment securities 65,315 63,682 Total assets 341,206 292,174 Deposits 269,698 240,258 Borrowed funds 37,349 22,144 Shareholders' equity 30,842 27,102 September 30, September 30, % 2006 2005 Change For the quarter ended (Unaudited) (Unaudited) Net interest income $3,119 $2,823 10.5% Provision for loan losses 34 128 -73.4% Other income 155 73 112.3% Other expenses 1,722 1,451 18.7% Income tax expense 520 510 2.0% Net income $998 $807 23.7% Per Share Data (1) Net income per share-basic $0.33 $0.27 Net income per share-diluted $0.31 $0.25 September 30, September 30, % 2006 2005 Change For the nine months ended (Unaudited) (Unaudited) Net interest income $9,438 $7,772 21.4% Provision for loan losses 312 341 -8.5% Other income 313 218 43.6% Other expenses 4,879 4,051 20.4% Income tax expense 1,692 1,368 23.7% Net income $2,868 $2,230 28.6% Per Share Data (1) Net income per share-basic $0.95 $0.81 Net income per share-diluted $0.90 $0.75 (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, +1-704-377-3936, or fax, +1-704-377-8869, both of First Trust Bank Web site: http://www.firsttrustnc.com/

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