Finance
United Bankshares first-quarter earnings
April 26. United Bankshares first quarter earnings of this year were $86.8 million, down from $98.3 million during the same period last year. The first quarter of 2024 included $1.8 million of non-interest expense for the Federal Deposit Insurance Corp.’s special assessment levied on banking organizations stemming from revised loss estimates to the deposit insurance […]
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 […]
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 […]
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 […]
W. Catawba: Cornelius’ billion-dollar boulevard of banks
Jan. 13. By Dave Yochum. What’s with all the new banks on West Catawba? Actually there were the same number of banks in Cornelius on June 30, 2022 as there were on June 30 the year before. Fourteen. Across those 14 banks in good old 28031, total deposits amounted to $1.487 billion. That was down […]
Follow the money: Fifth Third chases market share with 2nd branch in Cornelius
Aug. 3. By Dave Yochum. With Fifth Third Bank officially opening its “Next Gen” financial center on West Catawba today, there are now more than a dozen banks dividing up more than $1.35 billion of deposits in Cornelius. Fifth Third is the only one with two branches in Cornelius. Of course, Aquesta’s main branch is […]
Credit Karma to add 600 jobs; average pay $156K
May 25. Credit Karma, a personal finance technology company, will invest more than $13 million in a high-tech engineering hub in Charlotte, adding 600 new jobs. Credit Karma, a unit of Intuit, is a consumer technology platform best known for providing more than four billion free credit scores to consumers. The company has more than […]
Fifth Third’s ‘next-gen’ branch will open in Cornelius in June
April 2. By Dave Yochum. A new Fifth Third branch on West Catawba in Cornelius will have an entirely different banking experience from the traditional Fifth Third branch that will remain open just a mile away. It will be a “next-generation” branch, which means open spaces and no teller windows. Fifth Third says it will […]
Aquesta expanding to Charleston, SC market
Sept. 25. Aquesta Bank has received all regulatory approvals necessary to open a new branch in Mount Pleasant, just outside Charleston, SC. The new location, a former “big bank” branch, and open during the second quarter of 2021 after renovations. Aquesta opened in Cornelius in 2004. It now has eight full-service branch locations predominantly in […]
