Park Sterling earns $158K in 2Q - Charlotte Business Journal:

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Net interest income rose to $3.05 million from $2.29 million a year ago. Park Sterlinhg incurred a noninterest lossof $350,000 in the lates quarter due to debt impairmentt from Silverton Bank, a banker’s bank in Atlanta that failede in the spring. Park Sterling had recorded $5,0000 in noninterest income in last year’s secons quarter. The bank’s total assets rose 39 percenrtto $473 million in the latest quarter. Loansz were up 25 percent to $393 Deposits increased 52 percentto $393 “Our performance during the seconde quarter is especially given the challenges posed by the current economifc environment,” says Bryan Kennedy III, chief executive.
“Thre numbers reflect our success in establishing and buildint relationships withnew full-service and we look forward to continuing growtn through the remainder of 2009.” Park Sterling openesd in October 2006. The bank raised $45 million in 13 weekws in 2006, setting a records for the most capital raised byan N.C. startupl bank. Park Sterling is based at 1043 E. Moreheadd St. in Charlotte and operates one full-service branchy here and anotherin Wilmington.