Banking
Banks report stellar growth in income, assets, deposits
Banks in the Golden Crescent are benefiting from an extraordinary economic boom in North Carolina, and their first nine months reflect exceptional growth in and around Charlotte. Harry Davis, the chief economist for the North Carolina Bankers Association, says loan growth nationwide is running about 2 percent per year. In North Carolina, it’s running at […]
Uwharrie Bank expands into Mecklenburg
Oct. 15. Albemarle-based Uwharrie Bank plans to expand into Mecklenburg County with residential mortgage lending, commercial lending and wealth management services. Uwharrie has operations in Anson County and Stanly County, as well as Cabarrus, where it formerly operated as Cabarrus Bank & Trust. Uhwharrie is opening Charlotte office at 141 Providence Road for its residential mortgage operations. […]
Truliant expands into Lake Norman; a Cornelius branch is coming soon
By Katie Piccirillo Sherman. The new 3,875 square foot Truliant branch in Huntersville is part of a 10-branch expansion that will bring 120 jobs to the Charlotte-Mecklenburg area and cost the Winston-Salem based credit union $11 million. “When the recession hit, a couple of credit unions exited the area,” Truliant Federal CEO Marc Schaefer explained. “In […]
Jennifer Mills new director at Carolina Trust
Jennifer Marion Mills has been elected to the board of directors at Carolina Trust Bank. She is part of the Randy Marion group of auto dealerships and the daughter of the founder. CTB recently entered the Mooresville market with a loan production office. “We intend to steadily build our business on the east side of Lake Norman and […]
Uwharrie reports gains in second quarter
July 24. Second-quarter net income at Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, climbed nearly 11 percent this year vs. last. For the three-month period ended June 30, the financial institution earned $660,000 compared to $596,000 for the same period in 2014, a 10.74 percent improvement. Also for the second quarter of this year, net […]
Aquesta: ‘Really starting to hit its stride’
July 21. Aquesta Financial Holdings today reported record operating income for the second quarter of 2015: $590,000 vs. $446,000 during the same quarter last year. Total assets increased to $269.1 million at June 30, compared to $263.6 million at year-end. Total loans increased to $184.1 million at June 30, vs. $172.2 million at the end of 2014. “Our […]
Second-quarter net at blueharbor fell as new Statesville branch opens
July 10. Mooresville-based blueharbor bank says net income during the second quarter ended June 30 was $174,743, compared to $302,076 during the same period last year. For the first six months of this year, the bank reported net income of $353,220, compared to $545,593, for the six months ended June 30, 2014. For detailed results […]
Strategic Investment Advisors is now Uwharrie Investment Advisors
July 9. Uwharrie Capital Corp. has changed the name of it’s wealth management subsidiary, Strategic Investment Advisors, to Uwharrie Investment Advisors Inc. The Albemarle-based financial company says the anchor name of the parent company provides a single, cohesive presence. Uwharrie Capital and its subsidiaries, which serve Anson, Cabarrus and Stanly counties, dates back more than […]
CMBS delinquency rates keep falling
By John Rehkop. After several years of stagnant growth, the commercial mortgage backed security (CMBS) market continues to pick up steam as a rise in new loan issuance is causing delinquency rates for commercial loans to fall, both locally and nationally, according to commercial real estate research firm Trepp, LLC. In the Charlotte metropolitan area, balance […]
