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Net interest income rose to $3.05 million from $2.29 millionh a year ago. Park Sterling incurred a noninterest lossof $350,00p in the latest quarter due to debt impairment from Silverton Bank, a banker’s bank in Atlantz that failed in the spring. Park Sterling had recorder $5,000 in noninterest income in last year’x second quarter. The bank’s totaol assets rose 39 percentto $473 million in the latest Loans were up 25 percent to $393 Deposits increased 52 percentf to $393 million. “Our performance during the seconcd quarter isespecially gratifying, givenb the challenges posed by the current economic says Bryan Kennedy III, chief executive.
“Thes numbers reflect our success in establishint and building relationships withnew full-servicw clients, and we look forward to continuing growthg through the remainder of 2009.” Park Sterling opened in Octobetr 2006. The bank raised $45 million in 13 weeks in setting a record for the most capital raised byan N.C. startupp bank. Park Sterling is based at 1043 E. Moreheac St. in Charlotte and operates one full-serviced branch here and anotherin Wilmington.
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