BKWW Bank OF Wilmington

Bank of Wilmington Declares 25% Stock Dividend WILMINGTON, N.C., June 10 /PRNewswire-FirstCall/ -- Bank of Wilmington (NASDAQ:BKWW) announced today that its Board of Directors has approved a five-for-four split in the Bank's common stock that will be effected in the form of a 25 percent stock dividend. The stock dividend will be payable on July 1, 2005, with respect to shareholders of record on June 22, 2005. As a result of the stock dividend, each holder of shares of the Bank's common stock on the record date will receive one new share of common stock for each four whole shares held of record on that date. In lieu of issuing fractional shares, the Bank will pay cash based on the average of the closing bid and asked prices of its common stock on The Nasdaq SmallCap Market on the record date. "We are pleased to declare this 25 percent stock dividend in association with our seventh anniversary on June 22, 2005," said Cameron Coburn, Chairman, President and CEO. "With the support of our shareholders, the Bank has grown substantially and we are pleased to share this solid performance with our investors." 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: Hilary Brady of Talk PR, Inc. for Bank of Wilmington, +1-910-395-5051, Web site: http://www.bankofwilmington.com/

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