Parkway Bank to Expand Franchise

LENOIR, N.C., Oct. 11  /PRNewswire-FirstCall/ -- Parkway Bank (OTC:PKWY) (BULLETIN BOARD: PKWY)  today announced that a future site for a full service branch in Granite Falls has been purchased.  The proposed site is located at the corner of Falls Avenue and Sunnyside Street.  The proposed branch is subject to rezoning from the current zoning status of neighborhood business to office and institutional.  No definitive timeline has been issued at this point.

"As part of our long term strategy, our plans have always been to have a full service operation in Granite Falls and now we have secured a location," said Gary Clawson, Parkway's President and CEO.  "Granite Falls is a very important market to us for several reasons.  One of the most important reasons, for me personally, is to get back in the community where my father successfully operated Granite Savings and Loan Association (Granite Saving Bank) for so many years.  It's a market where we have many shareholders, already have numerous customers and three of our Board members, that are an important part of the Granite Falls community, live there."

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 of Parkway Bank, [phone]



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

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