Business
US Rep. Jackson says group chat played role in SVB failure
March 30. North Carolina-based First Citizens Bank & Trust has purchased failed Silicon Valley Bank, the financial institution that collapsed earlier this month. The Federal Deposit Insurance Corp is backstopping the deal which involves the purchase of all deposits and loans to First Citizens. Customers of SVB automatically will become customers of First Citizens, in […]
Cornelius is getting a new bank branch, this one on Bailey Road
March 28. By Dave Yochum. Cornelius is getting another: a) Bank b) Bank c) Bank You guessed bank, right? When ServisFirst Bank opens on Bailey Road a half block from Hwy. 21 later this spring, it will be the 15th bank branch located in Cornelius. The new branch is a subsidiary of ServisFirst Bancshares, a […]
Mask requirements lifted at area hospital systems
March 28. Healthcare systems, including Atrium and Novant, are lifting universal masking requirements for patients, visitors and team members today. Novant Health, Atrium Health, Atrium Health Wake Forest Baptist, CaroMont Health, Cone Health and Randolph Health collaborated to make the decision.. As encouraged during the COVID-19 pandemic and flu season, everyone should consider their personal […]
Entrepreneurs: Coffee shop with bakery anchors growing chain
By TL Bernthal. Sean Flynn has the entrepreneurial spirit. He’s half of the Cornelius team that opened Main Street Bakery & Coffee on West Catawba Avenue this week. It’s a soft opening to work out any kinks and get a handle on foot traffic. It’s the fifth shop for Sean and Kalea Flynn, who live […]
Retail report: HomeSense opens tomorrow; musical chairs in Birkdale Village
March 22. [Updated March 23] By TL Bernthal. HomeSense will open 8 am Thursday, March 23, in Cornelius. The store will sell furniture, rugs, decor and wall art, lamps and other lighting, kitchen and dining items, and organizational solutions such as for storage. The store replaces Stein Mart, which closed, making room for HomeSense and […]
LKN Chamber recognizes leaders at annual awards banquet
March 20. More than 100 business and political leaders from North Mecklenburg turned out for the 35th Annual Lake Norman Chamber of Commerce Awards & Installation Banquet at The Peninsula Club. Douglas Marion officially took over the volunteer reins from Immediate Past Chair (2022) David Keith. Former NC Sen. Jeff Tarte—he is also the former […]
Rep. Bradford and Rep. Crutchfield launch small business caucus
March 17. Representatives John R. Bradford, III and Kevin Crutchfield have announced the formation of the House small business caucus. The primary objectives of the small business caucus are to raise awareness of key small business issues including access to a strong workforce, taxes, and regulations, preventing undue burden to innovation, and finding legislative solutions […]
Former Wells Fargo Exec will pay $17 million civil penalty
March 16. The former head of Wells Fargo Bank’s retail banking division has agreed to plead guilty to obstructing a government examination into sales practices misconduct, and pay a $17 million civil penalty. Federal authorities said Carrie L. Tolstedt, 63, of Scottsdale, Az. agreed to plead guilty to one count of obstruction of a bank […]
Congress for the New Urbanism will tour Birkdale Village, other LKN sites
March 14 [Updated March 15]. Birkdale Village has been selected for a tour during the 31st annual Congress for the New Urbanism happening in Charlotte May 31-June 3. In collaboration with Michael Dunning, founder of Charlotte-based MEND Design Collective and former Shook Kelley architect on Birkdale’s original project team, North American Properties will host the national […]
Bank woes in Silicon Valley and NY State likely do not apply here
March 13. By Dave Yochum. Hundreds of members of Congress were on a Zoom call last night during which US Treasury Dept. officials announced extraordinary steps being taken to secure the nation’s financial system in the wake of the failure of Silicon Valley Bank. It was the second-largest bank failure in American history. Meanwhile banking […]
