RALEIGH, NC . . . Members of North State Bank's management staff, local board members and invited guests had the opportunity to hear from one of the state's leading economists, Harry M. Davis, Ph.D., at a gathering at Raleigh's North Ridge Country Club. Dr. Davis is the North Carolina Bankers Association's chief economist, as well the professor of banking at Appalachian State University in Boone, North Carolina.

"Dr. Davis provided attendees with valuable insight on the current economic situation, as well as his thoughts on what to expect during the next economic expansion," said Jonathan Hand, North State Bank senior vice president and North Raleigh executive. "Ultimately, this information helps North State Bank better serve our customers. It allows us to offer products and services that meet their needs today, while helping them prepare for tomorrow."

Dr. Davis believes North Carolina's economy will see signs of improvement during the fourth quarter and that the improvements will continue through 2010.

"It's reassuring for North State Bank, and our customers, to hear there is light at the end of the tunnel," said Larry D. Barbour, North State Bank president and CEO. "So far, we've weathered this storm fairly well—in part by staying abreast of ever-changing economic conditions and adjusting our plans accordingly, so we remain relevant to our customers."

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North State Bancorp is listed on the OTC electronic bulletin board under the symbol "NSBC".

www.northstatebank.com

This news release contains forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements for various reasons, including regulatory changes and increased deposit insurance assessments, economic conditions, changes in interest rates, substantial changes in financial markets, changes in real estate values and the real estate market, our ability to manage growth, loss of deposits and loan demand to other savings and financial institutions and our limited operating history. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's SEC filings, including its periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from the Company and at www.northstatebank.com.

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1. http://www.northstatebank.com