INNES STREET FINANCIAL CORP

Innes Street Financial Corp. was acquired by Gaston Federal Bancorp Inc. on 12/31/2001. Innes Street Financial Corporation serves as the bank holding company for Citizens Bank, Inc. The Bank is engaged in the business of attracting deposits from the general public and using such deposits to make mortgage loans secured by real estate. The Bank makes one-to-four family residential real estate loans and, to a lesser extent, multi-family residential loans, nonresidential loans, construction and deve... lopment loans, home equity loans, commercial and consumer loans. It offers passbook savings accounts, negotiable order of withdrawal accounts, money market demand accounts, non-interest-bearing accounts, and fixed interest rate certificates. Its primary market area consists of the communities around its offices in Salisbury, Rockwell, and Statesville, North Carolina.More