Business

Developers reject proposal to reroute pipeline in Johnston Co.

December 17, 2014

(The News & Observer, Raleigh)

Developers of the 538-mile Atlantic Coast Pipeline denied a request by Johnston County officials to reroute the proposed pipeline closer to an industrial park. The new route would have crossed 239 parcels instead of 163. Richmond-based Dominion Resources is developing the natural-gas pipeline in a joint venture with Duke Energy, Piedmont Natural Gas and Atlanta-based AGL Resources.

Piedmont Natural Gas requests rate reduction

December 17, 2014

(Winston-Salem Journal)

Charlotte-based Piedmont Natural Gas filed for a 5% rate reduction in the Carolinas that could save customers about $5 a month during January, February and March. If approved by the states' utilities commissions, the new rates will go into effect Jan. 1.

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.