toning table

CHARLOTTE, N.C., Nov. 30 /PRNewswire/ --based Bank of Commerce (Proposed) has ended its stock offering after having received subscriptions for 1.6 million shares of stock worth $17.6 million, reaching the maximum capitalization allowed by the North Carolina Commissioner of Banks. Wes Sturges, president of Bank of Commerce (Proposed), says that completing this offering so rapidly is a testament to the need for such a small business bank, and to the board of directors and the management team the bank has assembled. He says a majority of the proposed banks individual subscribers are located in the Charlotte, North Carolina area, and that a number of subscriptions were made by several professionally run bank stock funds. Officials at Bank of Commerce (Proposed) say they are on track to open at 100 Queens Road in the first quarter of 2006. Bank of Commerce (Proposed) plans to serve the needs of small to mid-sized businesses in the Charlotte, NC area. From a midtown Charlotte office at 100 Queens Road, it will offer guidance to customers from experienced loan officers, in addition to start-up capital and other financial products and services. Online banking, courier service and extended deposit hours will be additional hallmarks of the Bank of Commerce (Proposed), http://www.bankofcommercenc.com. This release does not constitute an offer to sell, or the solicitation of an offer to buy, shares of common stock of Bank of Commerce (Proposed). Any offer or solicitation is made only by means of the proposed banks offering circular.