Parkway Bank Names Sponenberg CEO

LENOIR, N.C., Feb. 8  /PRNewswire-FirstCall/ -- Parkway Bank's Board of Directors (OTC:PKWY) (BULLETIN BOARD: PKWY)  recently named James E. Sponenberg, III, as their new Chief Executive Officer. Sponenberg will begin his duties February 19. "We are very fortunate to have Jim come on board," said Board Chair Kimberlin M. Kincaid. "Jim's extensive experience as a banker, established relationship in the community and personal style are a perfect fit for Parkway Bank and our customers."

"I'm excited to be a part of a bank that is completely customer focused," said Sponenberg. "It is all about the customer, and I look forward to helping Parkway Bank continue that tradition."

Sponenberg began his career in banking in 1978 as a loan officer for Central Carolina Bank of Durham. After two years, he was named assistant treasurer and continued to advance within the bank and became president of CCB Savings Bank of Lenoir, Inc. SSB. After CCB Savings Bank of Lenoir, Inc. SSB merged with Central Carolina Bank then several years later with SunTrust, Sponenberg was named senior vice president and market president. Since retiring in 2005, Sponenberg has been in business with his daughter and a long-time best friend.

"I'm happy to be back in banking," said Sponenberg. "I enjoy the pleasure of helping people realize their dreams of buying a home or opening a business."

"We are proud of the positive reputation Parkway has gained in our community and we feel confident that Jim will continue to foster that," said Kincaid. "The Board is extremely pleased to join hands with Jim and our exceptional staff to make Parkway Bank the best possible bank we can be."

"I believe that with the addition of Jim to our executive management team," said Executive Vice President and Chief Credit Officer Carol S. Shinn, "we have the expertise necessary to lead the company to even greater long-term success by continuing with our mission 'to build solid banking relationships, provide excellent customer service, provide a rewarding work environment for our employees, and to achieve above average returns for our shareholders. All this is done for the betterment of our community.'"

"I'm coming into a great situation," Sponenberg said. "The people of Parkway Bank have done an outstanding job of making this bank be a successful community bank, and I'm proud to be a part of that." Sponenberg and his wife, Sarah, are long-time Lenoir residents. They have two daughters, Malen Sponenberg Braswell and Maryanne Avent Sponenberg, and two grandchildren.

"Jim has some exciting ideas about ways to further develop Parkway Bank's presence in our community," said Kincaid. "We look forward to a productive and profitable future under his leadership."

Parkway Bank has consistently grown since it began more than six years ago and continues to have strong performance numbers. The bank currently has two locations in Caldwell County and will be opening a third branch in 2008. 

DATASOURCE: Parkway Bank



CONTACT:  Kimberlin Kincaid, Chair of the Board, [phone],

, or Robert Kirkman, Chief Financial Officer

[phone], , both of Parkway Bank



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

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