First Trust Bank Third Quarter Earnings Up 12%

    CHARLOTTE, N.C., Oct. 23 /PRNewswire-FirstCall/ -- First Trust Bank
 (OTC Bulletin Board:   NCFT) reported net income of $1.12 million or $0.29
 per diluted share for the quarter ended September 30, 2007, compared to net
 income of $1.00 million, or $0.26 per diluted share, for the third quarter
 of 2006. This represents a 12% increase in net income over the same quarter
 last year.
     Net income for the nine months ended September 30, 2007 totaled $3.18
 million or $0.82 per diluted share, compared to net income of $2.87 million
 or $0.75 per diluted share, for the same period in 2006, an increase of
 11%. Return on average equity and return on average assets for the first
 nine months of 2007 was 12.56% and 1.13% respectively.
     Net interest income for the first nine months of 2007 was $10.18
 million, an increase of $0.74 million or 8% over the same period in 2006.
 "With the Federal Reserve's recent interest rate cut, net interest margin
 management remains a high priority," said Jim Bolt, President and CEO.
     Assets at September 30, 2007 were $401 million, an increase of $60.0
 million or 17% over the $341 million reported at September 30, 2006. The
 Bank reached a new milestone in the third quarter with loans totaling $302
 million at September 30, 2007, up 21%.
     First Trust Bank specializes in serving the banking needs of small
 businesses and professionals in the Charlotte, Mooresville, Davidson,
 Cornelius, Huntersville, Concord and Monroe markets. The Bank operates
 three banking offices which are located at 1420 East Third Street and 2245
 Rexford Road, Charlotte, NC and 108 Gateway Boulevard, Mooresville, NC; and
 two loan production offices at 916 Copperfield Boulevard in Concord, NC and
 2610 W. Roosevelt Boulevard, Monroe, NC.
     For additional information, please contact Jean Galloway or Jim Bolt at
 704-377-3936 (fax 704-377-8869) or by e-mail at

SOURCE First Trust Bank

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