Business

MetLife unveils $110M Cary campus

June 23, 2015

(The News & Observer, Raleigh)

The Cary campus of insurer MetLife is now officially open. The New York-based company unveiled two buildings on 26.5 acres where it employs more than 1,000 people. Raleigh-based Highwoods Properties built the $110 million campus. MetLife announced in 2013 it was adding more than 2,600 jobs in Cary and Charlotte; the company was awarded more than $94 million in incentives.

BB&T acquires The Bank of Kentucky

June 23, 2015

(Winston-Salem Journal)

BB&T completed its $363 million purchase of The Bank of Kentucky, gaining about $1.9 billion in assets and 32 branches. One of the offices is in Cincinnati, where CEO Kelly King said BB&T will look to add more branches. The Winston-Salem-based bank is still awaiting regulatory approval of its planned $2.5 billion acquisition of Pennsylvania-based Susquehanna Bancshares, which is expected to close in the third quarter.

Charlotte's Allen Tate dies at 84

June 23, 2015

(The Charlotte Observer)

Allen Tate, who founded a Charlotte-based residential real-estate firm that now has about 40 offices in the Carolinas, died Monday after years of declining health. He was 84.

UNC Hospitals prepares to open Hillborough campus

June 23, 2015

(The Times-News, Burlington)

UNC Hospitals will open its new 68-bed medical center in Hillsborough in August. The emergency department will open July 6. The 256,000-square-foot facility will employ about 450 people. The Hillsborough campus was created to move less complicated cases from UNC's main hospital in Chapel Hill.

Former Cisco exec named CFO of Red Hat

June 23, 2015

(The News & Observer, Raleigh)

Raleigh-based software company Red Hat named Frank Calderoni executive vice president and CFO. Calderoni was CFO of California-based Cisco Systems for seven years and was named one of Institutional Investor magazine's Best CFOs in the U.S. from 2012 to 2014. He replaces Charlie Peters, who is retiring.

A-B Tech closing Enka campus

June 23, 2015

(Asheville Citizen-Times)

Asheville-Buncombe Technical Community College will close two buildings on its Enka campus by the end of September as part of a cost-cutting effort. The Enka campus houses programs including a small business incubator and craft beverage institute; President Dennis King said the school will try to relocate as many programs as possible.

Northwood Ravin wins bidding war in uptown Charlotte

June 23, 2015

(The Charlotte Observer)

Charlotte City Council voted to sell a 3.8-acre parcel of uptown land to local apartment developer Northwood Ravin, which offered almost $14.2 million for the property. Another company, Morgan Bond, offered an upset bid of $15.1 million, but the company failed to meet a deadline for an escrow deposit. Four companies had bid on the property at Stonewall and Caldwell streets.

Premier's Devore is NC's highest paid CEO

June 22, 2015

(The Charlotte Observer)

Susan Devore, CEO of Charlotte-based Premier, earned $24.9 million in total compensation last year, marking the first time a woman has ranked as the highest paid executive of a North Carolina-based public company.

Dunn's Select Bank to acquire 2 Yadkin branches

June 22, 2015

(The Fayetteville Observer)

Dunn-based Select Bancorp will acquire Yadkin Bank branches in Leland and Morehead City. Yadkin said in April it planned to sell or close about a half-dozen branches as part of a cost-cutting effort. The deal is expected to close in the fourth quarter. Formerly New Century Bancorp, the parent of Select Bank & Trust has 14 branches, mostly in eastern N.C. (Read more about Select Bancorp, from our June issue)

Judge finds Yadkin Valley hospital operator in contempt

June 22, 2015

(Winston-Salem Journal)

A federal judge ruled the company that operated Yadkin Valley Community Hospital must pay the county damages from May 22 – when the group abruptly closed the 20-bed hospital – until it is reopened or July 31, when its contract expires.