Recent Posts
Second quarter net at Uwharrie rises 80%
July 27. Uwharrie Capital and its subsidiary, Uwharrie Bank, reported consolidated total assets of $748.2 million as of June 30 this year vs. $656.8 million at year-end 2020. Net income for the six-month period ended June 30, 2020, was $1.9 million, up from $1.6 million for the same period in 2019. For the six months […]
Red Ventures tells staff to work from home till at least January
July 27. Red Ventures, one of the largest employers in the Charlotte region, has told employees they are not expected back in the office until at Least early next year. The technology/marketing company, which has a large campus in Indian Land, has 2,000 local employees. The Indian Land offices, complete with a bowling alley and […]
Trump visits NC biotech company today
July 27. President Donald Trump will visit the Fujifilm Diosynth Biotechnologies’ Innovation Center in the Research Triangle Park today. The company is helping with the manufacturing of components for a potential vaccine developed by Novavax. That vaccine is expected to be in Phase 2 clinical trials by the middle of August. As of Sunday, North […]
KS Bancorp announces 2Q financial results
July 24. Smithfield-based KS Bancorp reported net income of $971,000 or $0.88 per diluted share, an increase of 7.0% for the three months ended June 30, compared to net income of $907,000 or $0.82 per diluted share, for the three months ended June 30, 2019. Net interest income for the three months ended June 30, was […]
COVID-19, PPP loans affect Surrey net
July 23. Surrey Bancorp, holding company for Surrey Bank & Trust, today reported second quarter net income of $971,563 or $0.23 per fully diluted share, compared to $1,165,651 or $0.28 per fully diluted common share earned during the second quarter of 2019. Net interest income decreased from $3,338,262 in the second quarter of 2019 to […]
NC economy struggling as PUA checks come to an end
July 23. Pandemic Unemployment Assistance (PUA) checks are coming to an end July 25. The extra $600 per week combined with unemployment insurance has boosted the combined benefit above the previous wage for at least half of those receiving the benefit, says Mark Kurt, an associate professor of economics at Elon University in Elon, NC. […]
2Q net at blue harbor up 17%
July 23. Mooresville-based blue harbor bank reported net income of $817,060 and $0.27 per diluted share for the second quarter of 2020, a 17% from the second quarter of 2019. For the six months ended June 30, the net income rose 17 percent to $1,516,150, up from $1,294,880 during the first six months in 2019. […]
Black-owned spa in Huntersville to expand with 2nd location
V-Spa Charlotte, a women’s health and wellness facility that opened in 2017 in Hunterville, will open a second location in uptown Charlotte in October. “We are extremely fortunate to expand our spa operations, allowing us to open a second location,” said V-Spa Charlotte owner and founder, Shakira McGill. “At a time when so many businesses […]
Part of Union St. closing July 20-Aug. 28
July 20. A stretch of Union Street near the intersection of Means Avenue in downtown Concord is closing as crews move and reconnect underground utilities. The work is part of the Cabarrus County Courthouse renovation/construction project. The utility depths and existing utility crossings will require a full intersection shutdown for the safety of crews and […]
Small Business Advice: Times change, so must you
By Cheryl Kane. Business professionals need quality information—and creativity—to adapt to changing times. Quality information is necessary to accurately define problems creating a barrier to achieving your goals. Creativity is critical for the innovation needed for strategic planning and executing tactical plans. As times change, plans may need to change. Today disrupted circumstances may startle […]
