Durham Department of Parks and Recreation Wins Outstanding Parks & Recreation Award - Credits Cardinal State Bank-Sponsored Even

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Durham Department of Parks and Recreation Wins Outstanding Parks & Recreation Award - Credits Cardinal State Bank-Sponsored Even

07/01/2008 3:09pm

PR Newswire (US)

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DURHAM, N.C., Jan. 7 /PRNewswire-FirstCall/ -- The City of Durham's Department of Parks and Recreation was recently awarded the 2007 Outstanding Parks & Recreation Department Award by the United States Tennis Association - Southern Section. Tammy Brown, USTA Local League Coordinator for Durham Parks and Recreation, credits Cardinal State Bank's sponsorship of the locally-held USTA Tournament with helping them garner the award. According to Brown, "Cardinal State Bank's sponsorship was key to making this event so successful; I look forward to continuing our great working relationship with them in 2008 and for many years to come." The three-day event, held in September across 16 different sites in Durham, brought 5,000 spectators from Virginia, South Carolina, Georgia and from across North Carolina. Due to the success of the 2007 tournament, the City of Durham's Department of Parks and Recreation will host the Tournament again in 2008. "As Durham's community bank, it was an honor to contribute to an event that brought so many people to Durham and helped gain recognition for our Parks and Recreations Department," said John Mallard, president and CEO of Cardinal State Bank. Cardinal State Bank is a full-service community bank headquartered in Durham. Offices are located at: Independence Park, Westgate Drive, Homestead Market and downtown Hillsborough. Cardinal State Bank reported $199.7 million in total assets as of September 30, 2007. Pending shareholder and regulatory approval, Cardinal State Bank will become part of Yadkin Valley Bank & Trust Company in 2008. This news release may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of Cardinal State Bank's goals and expectations with respect to earnings, earnings per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current beliefs and expectations of Cardinal State Bank's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond Cardinal State Bank's control). DATASOURCE: Cardinal State Bank CONTACT: Brian Bishop, First Vice President and Retail Branch Coordinator of Cardinal State Bank, +1-919-403-2833, Web site: http://www.cardinalstatebank.com/

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