BKWW Bank OF Wilmington

Bank of Wilmington Announces Second Quarter Profit of $383,131 Total Bank Assets Grew By 33 Percent from Year-End 2004 WILMINGTON, N.C., July 27 /PRNewswire-FirstCall/ -- Bank of Wilmington (NASDAQ:BKWW) announced today that it posted net income of $383,131, or $0.11 per diluted share, for the second quarter of 2005 compared to second quarter 2004 net income of $204,033, or $0.07 per diluted share. Total assets grew by 33 percent from $201.5 million at year-end 2004 to $268.7 million at the end of June 2005. Net loans outstanding rose 33 percent during the same period from $160.3 million to $213.3 million, while deposits totaled $229.8 million at the quarter's end, an increase of 35 percent over the year-end deposit total of $170.2 million. "The Bank experienced a period of accelerated growth during the quarter," said Cameron Coburn, Chairman, President and CEO of Bank of Wilmington. "We also marked our seventh anniversary and announced a five-for-four stock split effected in the form of a 25 percent stock dividend during the quarter, both exciting milestones in the life of the Bank." Bank of Wilmington's common stock is traded on the Nasdaq SmallCap Market under the symbol BKWW. Established in 1998, the bank has three locations: 1117 Military Cutoff Road; 3702 South College Road in the Pine Valley neighborhood; and 14572 US Highway 17 in Hampstead. Operating hours are Monday - Friday, Lobby: 9 a.m. to 5 p.m. Drive Thru (excluding the Hampstead location): 8:30 a.m. to 5 p.m. DATASOURCE: Bank of Wilmington CONTACT: Ashley Harp of Talk PR, Inc., +1-910-395-5051, or , for Bank of Wilmington Web site: http://www.bankofwilmington.com/

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