Cooperative Bank Named 23rd In The Nation And 1st In North Carolina In Community Bank First Mortgage Portfolios

Wilmington, NC—July 17, 2007. Cooperative Bank (NASDAQ: “COOP”) was recognized recently by the American Banker with a ranking of 23rd in the nation in the list of Community Banks Ranked by First Mortgage Portfolios. They were ranked 1st in North Carolina. The companies were ranked by dollars outstanding in first mortgage loans.

Cooperative Bankshares, Inc. is the parent company of Cooperative Bank in North Carolina and Bank of Jefferson in Chesterfield County, South Carolina. Chartered in 1898, Cooperative Bank provides a full range of financial services through 23 offices in eastern North Carolina. Chartered in 1946, Bank of Jefferson operates one office in Jefferson, South Carolina. Cooperative Bank's subsidiary, Lumina Mortgage, Inc., is a mortgage banking firm, originating and selling residential mortgages through three offices in North Carolina.

For more information:
 Frederick Willetts, III, President