Parkway Bank's Clawson on Medical Leave

LENOIR, N.C., Jan. 4  /PRNewswire-FirstCall/ -- Parkway Bank (OTC:PKWY) (BULLETIN BOARD: PKWY)  recently announced President and Chief Executive Officer Gary T. Clawson has taken medical leave and resigned from the Bank's board of directors.

"It is with much regret that the Board accepts both of Gary's requests," said Board Chair, Kimberlin M. Kincaid. "Gary has been an integral part of Parkway Bank. His contributions to the formation and successful operations of the Bank cannot be overstated. All of us on the Board, within the Bank, and in the community will be keeping Gary and his family in our thoughts and prayers during this difficult time."

Chief Financial Officer Bob Kirkman and Chief Credit Officer Carol Shinn will be temporarily taking over Clawson's bank duties until an interim chief executive officer is hired. "Although the Bank is facing challenging times ahead with regulatory issues, the depth of our management team, and other matters," said Kincaid, "the Board has complete trust in Carol's and Bob's abilities to step in until we are able to hire an interim chief executive officer. We intend to move quickly to find an experienced community banker to complement our existing team and to help us continue making 'it all about the customer.'"

"I sincerely regret that the condition of my health does not allow me to continue in my roles at Parkway Bank or to address concerns raised by our banking regulators," Clawson said. "I have the highest confidence in our Bank and its directors and employees. I know Parkway Bank will continue to perform successfully. It will continue to be a community bank that is committed to achieving what is in the best interests of our customers and shareholders."

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

  For more information contact:

  Bob Kirkman, Chief Financial Officer
  

  or

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


DATASOURCE: Parkway Bank



CONTACT:  Bob Kirkman, Chief Financial Officer,

; or Kimberlin Kincaid, Chair of the Board,

[phone], , both of Parkway Bank



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

Copyright