Business

Catawba Brewing set to build Asheville brewery

December 17, 2014

(Asheville Citizen-Times)

Catawba Brewing will begin construction next week on a 5,400-square-foot Asheville brewery that will include a seven-barrel system, two bars and a courtyard. The Morganton-based brewer will keep its tasting room in Biltmore Village after the South Slope brewery opens, which is expected to be by spring.

Asheville's HomeTrust Bank names new Charlotte leader

December 17, 2014

(The Charlotte Observer)

HomeTrust Bank hired Jeff Mylton to lead the Asheville-based bank's expansion in Charlotte. Mylton comes from Fifth Third Bank. HomeTrust entered the Charlotte market this summer when it acquired Charlotte-based Bank of Commerce for about $10 million. 

Groundbreaking held for new Charlotte office tower

December 16, 2014

(The Charlotte Observer)

Developers and state and local officials broke ground Monday on a 25-story office building in Charlotte, the city's first uptown office tower since the 48-story Duke Energy Center and the 32-story 1 Bank of America Center opened in 2010. Babson Capital Management will be the anchor tenant when the 630,000-square-foot building is finished in spring 2017.

First South Bank adds nine branches

December 16, 2014

(The News & Observer, Raleigh)

First South Bank completed a previously announced acquisition of nine Bank of America branches in eastern and central North Carolina. Financial terms weren't disclosed. The Washington, N.C.-based community bank now operates 35 branches, mostly in eastern N.C.

Historic Fayetteville hotel sells for $200,000

December 16, 2014

(WRAL.com)

Fayetteville's vacant Hotel Prince Charles attracted only one bid – for $200,000 – in an online auction that closed Monday. Developer David Levinson bought the hotel in 2012 and had planned to convert it into office space and 80 condominiums before damage by vandals made the project too costly.

BofA fails two mortgage-settlement tests

December 16, 2014

(The Charlotte Observer)

Bank of America failed two out of 31 tests that measure compliance with a 2012 legal settlement over mortgage loan-servicing and foreclosure practices. The Charlotte-based bank must implement a plan to correct the behavior or it could face penalties. New York-based Citigroup was the only other lender involved in the settlement to fail a test. 

Duke Energy considers lease rights sale at Asheville's Grove Arcade

December 16, 2014

(Asheville Citizen-Times)

Duke Energy says it is exploring options and may be looking to sell lease rights for four floors of the historic Grove Arcade in downtown Asheville. The Charlotte-based utility owns the leasing rights for office space and 42 apartments at the 269,000-square foot structure.

Charleston bank acquires First Community branches in southeastern NC

December 16, 2014

(Greater Wilmington Business Journal)

Charleston, S.C.-based CresCom Bank has completed its acquisition of 13 First Community Bank branches in Columbus, Bladen and Brunswick counties and in the Myrtle Beach area in South Carolina. Virginia-based First Community Bank acquired Whiteville-based Waccamaw Bank's 16 branches in 2012 in an FDIC-aided transaction and closed three of its original branches.

Queens University names Premier's DeVore BusinessWoman of the Year

December 16, 2014

(The Charlotte Observer)

Queens University of Charlotte will honor Susan DeVore, CEO and president of Premier, as its 2014 BusinessWoman of the Year. DeVore joined the Charlotte-based company, which provides supply-chain services for the health-care industry, in 2003 and was named CEO in 2009. The company became publicly traded in 2013, raising $874 million in its initial public offering.

Shareholder votes on tobacco merger set for Jan. 28

December 15, 2014

(Winston-Salem Journal)

Reynolds American and Lorillard have scheduled shareholder votes on their proposed merger for Jan 28, according to a joint regulatory filing. Winston-Salem-based Reynolds announced in July plans to acquire Greenboro-based rival Lorillard – which owns Newport, the nation's most popular brand of menthol cigarettes – for more than $25 billion ("Buying a brand," August).