First Trust Second Quarter Earnings Up 17% CHARLOTTE, N.C., July 26 /PRNewswire-FirstCall/ -- First Trust Bank (OTC:NCFT) (BULLETIN BOARD: NCFT) reported net income of $565 thousand or $.33 per share for the quarter ended June 30, 2004, compared to net income of $484 thousand, or $0.29 per share, for the second quarter of 2003. This represents a 17% increase over the same quarter last year. Net income for the six months ended June 30, 2004 totaled $1.1 million or $0.64 per share, compared to net income of $943 thousand or $0.56 per share, for the same period in 2003, an increase of 15%. Average return on equity and return of assets was 14.74% and 1.09% respectively compared to 14.01% and 1.06% for the same period last year. Net interest income for the first six months of 2004 was $3.763 million, an increase of $424 thousand or 13% over June 30, 2003. Assets at June 30, 2004 grew to $223 million, an increase of $24.0 million or 12% over the $199 million reported at June 30, 2003. Loans totaled $162.4 million at June 30, an increase of 21% over June 30, 2003. "We are very pleased with our first half performance. First Trust continues to set records for net income and asset growth in the very competitive Charlotte market," 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 120 Southpark Drive, Mooresville, 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/ . 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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