BKWW Bank OF Wilmington

Bank of Wilmington Increases Net Income 13% in 2004 Total Assets Grow by 55% WILMINGTON, N.C., Jan. 26 /PRNewswire-FirstCall/ -- Bank of Wilmington (NASDAQ:BKWW) announced today that it posted net income of $1,147,814, or $0.51 per diluted weighted average share, for 2004 - a 13% increase over 2003 net income of $1,017,239. Total assets grew by 55% from $129.8 million at year-end 2003 to $201.7 million at year-end 2004. Net loans outstanding rose 57% during the same period from $102.4 million to $160.3 million, while deposits totaled $170.2 million at year-end 2004, an increase of 60% from $106.1 million at year-end 2003. "This marks our fourth consecutive profitable year and we couldn't be more pleased with the overall performance of our bank," said Cameron Coburn, Chairman, President and CEO of Bank of Wilmington. "The balance that we achieved between income improvement and balance sheet growth is the result of the incredible support of our shareholders and customers, as well as the remarkable commitment of our staff." 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 Web site: http://www.bankofwilmington.com/

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