North State Bank Mortgage Completes North Carolina's First Home Purchase eClosing

RALEIGH, N.C., Aug. 14, 2017 /PRNewswire/ -- On Thursday, August 10, 2017, North State Bank Mortgage, a division of North State Bank, completed North Carolina's first fully-electronic closing for a home purchase, said J. Kenneth Sykes, president of North State Bank Mortgage. The eClosing took place at the Keller Williams Realty office in Mooresville, North Carolina and was led by the law firm of Brady & Kosofsky via video conference from Matthews, North Carolina. Jamie H. Harrington (NMLS# 111660), mortgage market manager for North State Bank Mortgage, served as the loan officer.

This transaction marks the second eClosing in the state. The first was completed in early May by North State Bank Mortgage for the refinance of an existing mortgage. Thursday's closing was watched by live video feed by over 100 state officials and representatives from throughout the financial services industry.

"eClosings are a game changer for the mortgage industry and we are pleased to be the first bank in the state to offer this capability," said Sykes. "eClosings offer the utmost in flexibility, removing the need for everyone to gather at the attorney's office. With a secure internet connection and an eNotary, a borrower can close from the comfort of their home or office. eClosings are 100% paperless, meaning the Deed of Trust, the Note and all other documents are presented, signed and secured electronically."

North State Bank President and CEO Larry D. Barbour commented, "In 2010, North State Bank grew mortgage services from a relatively small part of our business to a division of our Company that now has offices throughout the state. As a Company, we are committed to being the best of the best and North State Bank Mortgage is fulfilling that commitment by being at the forefront of the eClosing movement."

About North State Bank Mortgage (NMLS# 411971):

North State Bank Mortgage is the mortgage lending division of North State Bank, with offices in: Apex, Fayetteville, Garner, Greensboro, Hendersonville, Hickory, Kernersville, Lexington, Raleigh, the Outer Banks, Wake Forest, Wilmington and Winston-Salem.

About North State Bank:

Founded in 2000, North State Bank, a wholly-owned subsidiary of North State Bancorp ("the Company" – NSBC), is a full-service community bank serving Wake and New Hanover Counties through seven full-service offices.

This news release may contain forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements for various reasons, including our ability to manage growth, changes in real estate values and the real estate market, regulatory changes and increased deposit insurance assessments, economic conditions, changes in interest rates, substantial changes in financial markets, loss of deposits and loan demand to other savings and financial institutions and our limited operating history.

SOURCE North State Bank Mortgage