Finance
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 […]
CommunityOne completes Certus acquisition in Lenoir
June 28. CommunityOne Bank has completed its purchase of the Lenoir Branch of CertusBank. As part of this transaction, the bank assumed the customer deposits from both the Lenoir and Granite Falls branches of the troubled bank. The purchase expands CommunityOne’s network to 12 branches in the Caldwell and Catawba areas. It is the second […]
Aquesta names City Executive for Concord
June 26. Aquesta Bank has recruited commercial banker Michelle Riley from Bank of North Carolina to be the Concord City Executive for the Cornelius-based bank. “It’s a very attractive market; there are quite a few businesses that are looking to expand there,” said Aquesta CEO Jim Engel. “This [a commercial loan production effort] is a […]
I-77 Bonds, Toll Lanes and Unwilling Customers
Below is an e-mail from Vince Winegardner: Please forward to business owner and others who need to take action – Everyone in Lake Norman! ACTION NEEDED BY YOU. PLEASE REVIEW THIS INFORMATION AND CONTACT GOVERNOR McCRORY BY TUESDAY AND TELL HIM “NO TO TOLLS ON I77!” CONTACT INFO IS LISTED BELOW. Dear Northcross Master Association Business and […]
Bill would require referendum on future toll lanes
By Dave Vieser. In the wake of Gov. Pat McCrory suggesting that the state float bonds for transportation projects, State Sen. Jeff Tarte (R-District 14) has introduced legislation that would require approval from a majority of voters before any future project financed with tolls, user fees or any other direct charge to motorists could proceed. No […]
NACM’s Credit Managers’ Index showed signs of improvement in April
May 4. The April report of the Credit Managers’ Index improved slightly to 53.9, above “contraction territory,” according to the National Association of Credit Management. “It would appear that a collapsed energy sector, winter worries and trepidation regarding dollar values and the interest rate weighed pretty heavily on previous months,” said Chris Kuehl, NACM economist. […]
Internal memo reveals ‘nobody has a clear understanding’ of part of the I-77 contract
May 1. Internal communications at Cornelius Town Hall say “it appears nobody has a clear understanding” of a key component in the 50-year contract with a Spanish company. Local leaders on a state level are expressing concerns about the $655 million plan but it is unclear if they will affect the “financial close” with Cintra in […]
