Parkway Bank Surpasses $100 Million

LENOIR, N.C., Dec. 7  /PRNewswire-FirstCall/ -- Parkway Bank (OTC:PKWY) (BULLETIN BOARD: PKWY)  today reported that total assets surpassed $100 million in November.  Parkway began operations in August of 2001 and deposits, loans and total assets has consistently grown each year over the previous year since inception.  At September 30, 2006, shareholders' equity was $13.2 million and by industry standards is considered a well-capitalized bank.

Parkway Bank President and CEO, Gary Clawson stated that, "We originally projected total assets would reach $100 million by the time we reached 5 years of age.  We were a couple of months off.  Our approach is conservative and we take pleasure in consistent and steady growth.  Despite 9/11 occurring a month after we opened, interest rates plunging, along with the considerable job losses in our county, we've been fortunate.  Earnings have been better than expected and we continue to focus our efforts on serving Caldwell County and its residents.  We are the only bank that has branches just in Caldwell County and we are proud of this fact.  Our commitment is now even clearer as our Granite Falls branch is projected to open in mid 2007."

Parkway Bank is a community bank operating two branches in Caldwell County, North Carolina.  For more information about the Bank and our products and services, contact Parkway Bank at 828-758-1414, or visit http://www.parkwaybanknc.com/. 

DATASOURCE: Parkway Bank



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

[phone]



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

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