Parkway Bank Announces Stock Dividend

Parkway Bank Announces Stock Dividend 


LENOIR, N.C., April 26  /PRNewswire-FirstCall/ -- Parkway Bank (OTC:PKWY)
(BULLETIN BOARD: PKWY)  today announced the approval by its Board of Directors
of an 11-for-10 stock split to be effected in the form of a 10% stock dividend
payable on May 31, 2005 to shareholders of record on May 15, 2005.  Gary
Clawson, President and CEO, said, "It's been approximately a year and a half
since Parkway declared its first stock dividend and it gives management and the
Board of Directors great pleasure to issue another stock dividend in such a
short period of time. Rewarding our shareholders is of primary importance to
all of us at Parkway. Our plans for increasing shareholder value in the future
include greater focus on increasing retained earnings. Provided the housing
sector and the overall economy remain stable, we are confident of our ability
to continue to produce positive results."

Parkway Bank was incorporated on April 9, 2001 as a North Carolina- chartered
commercial bank and opened for business on August 13, 2001 in Lenoir, North
Carolina. Since opening, the Bank has grown to over $75 million in assets with
first quarter 2005 net income of $220,220. The Bank opened it first full
service branch office in the first quarter of 2004 in Hudson, North Carolina.
In addition to traditional banking services, the Bank created a wholly owned
subsidiary, Parkway Insurance Services, Inc. ("Parkway Insurance"). Through
this multi-line agency, the Bank is able to offer a wide array of personal,
commercial and financial insurance.  During the first quarter of 2004, the Bank
also commenced offering premium finance services.

For more information about the Bank and our products and services, contact
Parkway Bank at 828-758-1414, or visit http://www.parkwaybanknc.com/ .

This release contains certain forward-looking statements with respect to the
financial condition, results of operations and business of the Bank. These
forward-looking statements involve risks and uncertainties and are based on the
beliefs and assumptions of management of the Bank and on the information
available to management at the time that these disclosures were prepared. These
statements can be identified by the use of words like "expect," "anticipate,"
"estimate" and "believe," variations of these words and other similar
expressions.  Readers should not place undue reliance on forward-looking
statements as a number of important factors could cause actual results to
differ materially from those in the forward-looking statements. The Bank
undertakes no obligation to update any forward-looking statements. 

DATASOURCE: Parkway Bank



CONTACT: Gary T. Clawson, President and CEO of Parkway Bank,

[phone]



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

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