Bank of Wilmington Corrects Payment Date for 25% Stock Dividend

Bank of Wilmington Corrects Payment Date for 25% Stock Dividend



WILMINGTON, N.C., June 13  /PRNewswire-FirstCall/ -- Bank of Wilmington
(NASDAQ:BKWW) announced on June 10, 2005, that its Board of Directors had
approved a five-for-four split in the Bank's common stock that will be effected
in the form of a 25% stock dividend.  The Bank's press release containing that
announcement incorrectly stated that the stock dividend would be payable on
July 1, 2005.  The correct payment date for the stock dividend is June 30,
2005.  The record date for the stock dividend remains June 22, 2005, as
indicated in the press release.  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.

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: 117
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



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Web site:  http://www.bankofwilmington.com/

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