The November 23rd, 2008 weekend edition of the Charlotte Observer holds this ad from First Trust Bank.  The First Trust Bank copy reads, “Strength, Experience, Understanding “.  Along with the advertisements information regarding the financial strength of First Trust, the ad promotes the banks 7 month term CD.  The CD is offered with an interest rate of 4.00%.  This rate is the best short term CD rate in North Carolina.  First Trust Bank is a commercial bank whose target market is small to medium sized businesses and professionals.  The Bank operates three banking offices at 1420 East Third Street and 2245 Rexford Road, Charlotte, NC and 108 Gateway Boulevard, Mooresville, NC; and a loan production office at 916 Copperfield Boulevard in Concord,  NC and at 2610 W. Roosevelt Boulevard in Monroe, NC.  The bank can be reached by phone at 704-377-3936.  The web address is  The minimum deposit needed for this account is $10,000.00.  Rates subject to change, contact the bank for conditions and details.

On October 23, 2008, First Trust Bank reported its third quarter results.  The net income was $1.146 million for the quarter ended September 30, 2008 compared to net income of $1.122 million for the third quarter of 2007, an increase of 2%.  Net income for the nine months ended September 30, 2008 totaled $3.20 million or compared to net income of $3.18 million for the same period in 2007.  An increase in net income for 2008 over 2007 in the banking industry is certainly a strong statement and unfortunately becoming infrequent for many banks.  The bank had assets at September 30, 2008 of $439 million, an increase of $38 million or 10% over the $401 million reported at September 30, 2007.  Loans totaled $323 million at September 30, 2008, an increase of 7% over September 30, 2007.

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