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North State Bancorp is a bank holding company for North State Bank (the Bank). The business of its bank is to acquire deposits from its customers and lend them out. The Bank’s total loans portfolio consists of $483.6 million. The Bank’s deposits include demand, savings, money market and negotiable order of withdrawal (NOW). As of December 31, 2013, the Bank’s total deposits were $601.3 million. The Bank’s borrowings include both short-term and long-term borrowings.
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