First Trust Bank Third Quarter Earnings up 20% CHARLOTTE, N.C., Oct. 25 /PRNewswire-FirstCall/ -- First Trust Bank (OTC:NCFT) (BULLETIN BOARD: NCFT) reported September 30, 2004 results today. The bank reported net income of $604 thousand or $0.35 per share for the quarter ended September 30, 2004, compared to net income of $505 thousand, or $0.30 per share, for the third quarter of 2003. This represents a 20% increase in net income over the same quarter last year and a 17% increase in earnings per share. Net income for the nine months ended September 30, totaled $1.7 million or $.99 per share, compared to net income of $1.4 million or $0.86 per share, for the same period in 2003, an increase of 21% and 15% respectively. Assets at September 30, 2004 grew to $234 million, an increase of $41 million or 21% over the $193 million reported at September 30, 2003. Loans totaled $171 million at September 30, an increase of 23% over September 30, 2003. The bank maintains a substantial reserve for loan losses, currently 1.69% of gross loans outstanding. "We are pleased with the continued sustained growth in net income," 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 and 2245 Rexford Road, Charlotte, NC and 120 Southpark Drive, Mooresville, NC. 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 http://www.firsttrustnc.com/ Web site: http://www.firsttrustnc.com/

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