COOPERATIVE BANK TO OPEN MOREHEAD CITY OFFICE MARCH 13, 2006

For immediate release: February 15, 2006 

Wilmington, NC--- Frederick Willetts, III, President of Cooperative Bank announced that the bank will relocate its office located at 912 Arendell Street to 3003 Bridges Street Monday, March 13, 2006.  This is a relocation of the Arendell office which will close at the end of the business day on March 10, 2006.

Jim McGee Vice President and Area Executive will host a Ribbon Cutting Ceremony along with his staff at a later date which will kick-off a six week Grand Opening Celebration with drawings for prizes and gifts for just dropping by.  A $10.00 donation for each new account opened will be given to a charitable organization which will be determined.

Chartered in 1898, Cooperative provides a full range of financial services through 21 offices in Eastern North Carolina.  The Bank’s subsidiary, Lumina Mortgage, Inc., is a mortgage banking firm, originating and selling residential mortgage loans through three offices in North Carolina, and an office in North Myrtle Beach, South Carolina, and Virginia Beach, Virginia.

 For Additional Information:

Frederick Willetts, III, President, CEO