NC Banking Commission Approves Charter for Triad’s Sole Business-Only Bank

Greensboro, NC – November 16, 2007 – Premier Commercial Bank (proposed), which will be the Triad’s only business bank focused exclusively on serving small and midsized businesses, today announced that the North Carolina Banking Commission granted Premier Commercial a conditional charter to begin operations. Premier Commercial has applied to the FDIC for deposit insurance and is currently awaiting approval.
 
The organizers of Premier Commercial Bank (proposed) have raised in excess of $11 million in the initial stock offering, which began on August 1st.   The stock offering has been extended through February 29, 2008 (at the latest) to allow time for additional capital to be raised.   Premier Commercial has engaged the investment banking firm of SAMCO Capital Markets, Inc. (“SAMCO”) to assist in the final stage of capital- raising efforts.
 
Premier Commercial Bank (proposed) plans to begin serving business customers from its Greensboro office in the first quarter of 2008. Organizers hope to eventually add offices in Winston-Salem and High Point. The bank’s target customers will be small and midsized businesses with annual sales of up to $30 million.

About Premier Commercial Bank
Premier Commercial Bank (proposed) will be the first business bank headquartered in North Carolina’s Piedmont Triad focused exclusively on meeting the needs of small and midsized businesses. The bank will offer an extensive line of commercial products and services to targeted customers.  Personal banking services will also be available to customers.

This release does not constitute an offer to sell, or the solicitation of an offer to buy, shares of stock of Premier Commercial Bank (proposed).  Any offer or solicitation is made only by means of the proposed bank’s offering circular.  There shall be no sale of stock in any state in which any offer, solicitation of an offer or sale would be unlawful.  The proposed bank’s stock will not be insured by the FDIC or any governmental agency, is not bank guaranteed, and is subject to investment risk, including loss of principal.