Banking
Aquesta announces strong 2Q results
July 23. Aquesta Financial Holdings, parent of Aquesta Bank, said net income for the second quarter of 2019 ended June 30 was $1,188,000 compared to second quarter of 2018 net income of $2,031,000. The net income for the second quarter of 2018 included a one-time gain of $1.4 million on Aquesta’s sale of its insurance […]
Carolina Trust completes acquisition of Clover Community
Jan. 9. Carolina Trust Bank has completed its merger with Clover Community Bankshares, resulting in a $600 million banking company headquartered in Lincolnton. The $21 million acquisition of South Carolina-based Clover Community was announced in June last year. Jerry L. Ocheltree, president and CEO of Carolina Trust, said the same employees that served Clover customers […]
Uwharrie Capital declares stock dividend; strong 3Q results
Uwharrie Capital Corp, parent of Uwharrie Bank, has declared 2 percent stock dividend to be paid Dec. 14 to shareholders of record Nov. 28. Consolidated total assets rose 10.6 percent from $576 million as of Sept. 30 last year to $637 million as of the end of the third quarter this year. Net income for the […]
Matt Anderson is new BB&T Lake Norman market president
BB&T has promoted Matt Anderson to senior vice president and Lake Norman market president. Anderson will lead BB&T’s commercial banking team in Cornelius, Davidson, Denver, Mooresville, Huntersville and part of North Charlotte. Anderson joined BB&T in 2003 as an associate with its Management Development Program located in Winston- Salem. From 2003 through 2005 he held […]
FY 2018 SBA loans reached $800 million in NC
The U.S. Small Business Administration guaranteed over $30 billion in loans during FY 2018—in North Carolina there were 1,355 loans for over $800 million to small businesses of various types. Nationwide, in FY18 there were approximately 60,353 7(a) loans made, with a total dollar amount of $25.37 billion. The 7(a) program is SBA’s flagship program, […]
Big increase in third-quarter net at blueharbor
Third-quarter net income at blueharbor bank rose 26 percent to $661,152, compared to $523,794 during the same quarter last year. On a per-share basis, earnings at the Moresville-based bank rose to 22 cents vs 17 cents per share. For the nine-months ended Sept. 30, blueharbor reported net income of $1.89 million, up 45 percent from […]
Aquesta Financial reports gains in recurring net income for second quarter
Aquesta Financial Holdings second-quarter net income was $2.031 million this year compared to $482,000 during the second quarter of 2017. This year’s results include a one-time after-tax gain of $1.7 million on the sale of Aqusta Insurance. There were also one-time transaction costs which reduced earnings by $292,000. Normalized earnings were $622,000, a 29.0 percent increase over […]
Charlie Curtis new SVP at Aquesta
Charlie Curtis has been promoted to to senior vice president/western regional commercial executive at Aquesta Bank, based in Cornelius. A lifelong resident of North Carolina with over 25 years in the NC banking industry, he has been with Aquesta since 2011. Previously he was responsible for the management of the commercial lending team in the Lake […]
Aquesta Financial sells insurance unit
July 2. NFP, one of the nation’s largest insurance brokers, has acquired Aquesta Insurance Services. It is estimated the sale will result in an after tax gain to Aquesta’s parent company, Cornelius-based Aquesta Financial Holdings, of approximately $1.7 million or 43.1 cents per share. NFP will continue to operate from the current Aquesta Insurance locations, […]
BB&T Leadership Institute: $35 million facility is a jewel in world of corporate retreats
June 21. When it comes to offsite corporate retreats, places like the stately Graylyn Conference Center have some new competition. The BB&T Leadership Institute officially opened its new 60,000-square-foot campus in Greensboro. The $35 million campus has “immersive spaces” for learning, as well as 48 individual guest rooms, a “tree house” meeting room, dining and […]
