CONTACT:
B. Grant Yarber
President and Chief Executive Officer            
Phone: (919) 645-3494
Email: gyarber@capitabank-nc.com

Capital Bank provides financing for Holly Springs community center

W.E. Hunt Community Center to be completed by 2011

Raleigh, N.C. — Oct. 27, 2009 — Capital Bank will provide financing to the Town of Holly Springs for the development of the W.E. Hunt Community Center. The loan of $6.5 million dollars was approved by the city council. Renovations to the town gymnasium off Stinson Ave. will begin this quarter and are scheduled to be complete in 2011.

“Capital Bank is proud to support Holly Springs in the construction of this much-anticipated community center,” said B. Grant Yarber, president and CEO of Raleigh-based Capital Bank. “Capital Bank is founded on the strength of this region and the opportunity to assist in the area´s continued growth is part of our mission as a community bank.”

At a planned 29,720-square-feet, the center will have workout rooms, a game room, an indoor running track and outdoor basketball courts. The building that currently houses classrooms will be taken down to create parking at the end of the new building’s construction.

“Holly Springs is one of the most rapidly growing towns in the area and the Hunt Center will be a much-needed resource for thousands of residents,” said Bob Myers, senior vice president and Holly Springs city executive for Capital Bank. “Since 1990, the population of Holly Springs has grown from just over 1,000 to nearly 22,000 as families seek excellent neighborhoods outside the hustle of the capital city.”

“I am excited the newest bank in Holly Springs has stepped up to provide the funding to this community center that will be a great benefit to citizens of Holly Springs,” said Carl Dean, town manager of Holly Springs.

Located 20 miles southeast of Raleigh, Holly Springs boasts a safe community that is consistently expanding while maintaining small town comforts. New schools, medical facilities and fire stations are part of the added infrastructure built to support the population growth.