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New Century Bank expanding in Raleigh

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New Century Bank plans to expand its presence in Raleigh by opening a branch on Falls of Neuse Road.

Dunn-based New Century, which opened a loan production office on Six Forks Road in August, announced Monday that it has received regulatory approval for a full-service branch at 8470 Falls of Neuse Road near the intersection with Interstate 540. The bank expects to have a grand opening celebration for the 4,226-square-foot office in the fall.

"This is a market we have been well received in and believe expanding from a loan production office to a full-service branch in this growing area will give us the opportunity to add new customers as we continue to look for ways to continue to grow in eastern North Carolina," CEO William L. Hedgepeth II said in a statement.

New Century currently has seven branches in Dunn, Clinton, Fayeteville, Goldsboro, Lillington and Lumberton, plus a loan production office in Greenville.

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About the blogger

David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or e-mail him.