ENTERPRISE STAFF REPORT

GREENSBORO – The proposed Premier Commercial Bank announced that it has formed its organizing board of directors and has begun accepting subscriptions for shares of common stock.

The stock offering formally begins today and will terminate Oct. 31. The minimum individual subscription is 3,000 shares at a price of $11 per share. The organizing board and proposed executive officers have committed to purchase approximately $2.5 million, or up to 11 percent, of the total offering if the maximum amount of stock at 2.1 million shares is issued.

“The public sale of stock and the sizeable financial commitments of our organizing board are critical steps in the establishment of our institution,” said Frank Gavigan, the proposed president and chief executive officer.

“The capital we are raising will allow us to provide loans to our first customers, support our initial asset base and cover organizational costs.”
Premier Commercial Bank plans to open its first office in Greensboro in late 2007. Future locations are planned for Winston-Salem and High Point, subject to regulatory approval.

Gavigan and Ed Swing, the proposed chief financial officer, will conduct presentations for prospective investors in Greensboro, Winston-Salem, High Point, Burlington and other selected cities in the Carolinas and Virginia. An offering circular detailing the chance to purchase common stock is available to prospective investors by request. For more information, call Premier Commercial at (336) 323-1115 or check the Web site www.pcbnc.com.