Business

Dunn-based Select Bank expands in eastern NC

February 26, 2016

(Greater Wilmington Business Journal)

Select Bank & Trust will hold a grand opening of its new Leland branch on March 16. The Dunn-based bank bought the Leland office and a branch in Morehead City from Yadkin Bank last year. Select now has 14 branches and assets of about $817 million.

AP News Excellence winners announced

February 26, 2016

(The Daily Reflector)

Journalists from the Charlotte Observer, Greensboro News & Record, Asheville Citizen-Times and the Gaston Gazette were among those earning top honors in the 2016 North Carolina AP News Excellence Contest. Finalists are listed here.

Herbalife reports lower fourth-quarter profits

February 26, 2016

(Winston-Salem Journal)

Lower global sales led to an 18.2% drop in fourth-quarter net income for nutritional products manufacturer Herbalife, which employs more than 400 people at a Winston-Salem manufacturing plant.

Atlanta utility buying PowerSecure International for $431M

February 25, 2016

(The News & Observer, Raleigh)

Southern Company will acquire Wake Forest-based PowerSecure International for $431 million. Stockholders will receive $18.75 per share, nearly double Wednesday's closing price of $9.87. The energy-services company will operate as a subsidiary of Southern, one of the largest U.S. energy companies with 4.5 million customers in Alabama, Florida, Georgia and Mississippi.

BB&T to pay $500M for insurance broker Swett & Crawford

February 25, 2016

(Winston-Salem Journal)

BB&T announced its second largest insurance acquisition on Wednesday. The Winston-Salem bank is buying Swett & Crawford from London-based Cooper Gay Swett & Crawford in a $500 million deal that will increase insurance revenue by $200 million, or 15%. BB&T is the fifth largest U.S. insurance broker.

Brunswick's econonomic development director resigns

February 25, 2016

(Greater Wilmington Business Journal)

Michael DiTullo has resigned after less than four months as director of Brunswick County's economic development department. County Manager Ann Hardy will assume the role while the county searches for a new director.

BofA seeks to settle SEC probe, cuts more marketing jobs

February 25, 2016

(The Charlotte Observer)

Bank of America said in a securities filing it is working to settle an SEC investigation into whether its Merrill Lynch unit complied with federal regulations to protect customers' holdings. The Charlotte-based bank also cut a small number of jobs in its global marketing unit this week.

Report: Raleigh ranks No. 5 for career-focused workers

February 25, 2016

(WRAL TechWire)

Staffing firm Robert Half cited Raleigh's population growth, quality of life and low cost of living in its Career City Index, which ranks the best cities for career-oriented professionals. Raleigh trailed only Seattle, Boston, San Francisco and Washington, D.C.

Longtime Duke Energy exec to retire

February 25, 2016

(The Charlotte Observer)

A.R. Mullinax, executive vice president of strategic services at Duke Energy, will retire May 1. Mullinax, 61, has worked for the Charlotte-based utility and its predecessors for 38 years. His replacement has not been named.

California furniture company to open Greensboro plant

February 24, 2016

(Winston-Salem Journal)

CH Living will open a 180,000-square-foot plant in Greensboro that will be used for manufacturing and distribution of upholstered furniture. The Oxnard, Calif.-based company plans to hire 50 workers by late March; employment could reach 200 when the plant reaches full production.