Business

BofA ranks first in consumer deposits; BB&T at No. 13

September 24, 2014

(Winston-Salem Journal)

Charlotte-based Bank of America Corp. ranked first in the nation in total consumer deposits with $455.3 billion, according to a second-quarter report by SNL Financial. Wells Fargo & Co. ranked second with deposits totaling $405.4 billion, while Winston-Salem-based BB&T Corp. came in at No. 13 with $45.7 billion.

Wilmington in running for best riverfront city

September 24, 2014

(StarNews, Wilmington)

Wilmington is among 20 candidates for USA Today's Best American Riverfront cities. Readers can cast votes until Oct. 20.

Novant to build medical office in Guilford County

September 24, 2014

(Winston-Salem Journal)

Novant Health will build a 6,200-square-foot medical office in High Point to support its 50-bed Kernersville Medical Center. The Winston-Salem-based health system expects to break ground on the site by early November and the center should open in 2015.

Former Wells Fargo employee files complaint over Wachovia acquisition

September 24, 2014

(Winston-Salem Journal)

A former Wells Fargo & Co. employee says in a complaint filed Monday that the San Francisco-based bank broke federal regulatory laws in its 2008 acquisition of Wachovia Corp. George Hartzman of Greensboro filed a lawsuit in 2013 seeking $31.1 million in damages. Two previous shareholders lawsuits were dismissed by a North Carolina Business Court judge in 2011.

Pest-control product maker to hire 380 in Mooresville

September 23, 2014

(The Charlotte Observer)

Earth-Kind Inc. will invest $5.8 million and plans to create 380 jobs over four years at a plant in Mooresville. The Bismarck, N.D.-based company makes non-toxic pest control products, and counts John Deere, Tractor Supply and ACE Hardware among its customers. 

VantageSouth branches convert to Yadkin Bank

September 23, 2014

(The News & Observer, Raleigh)

All 41 branches of Raleigh-based VantageSouth Bank have been converted to Yadkin Bank as of Monday. The rebranding is the result of a July merger between VantageSouth Bancshares and Elkin-based Yadkin Financial, which created the largest community bank based in North Carolina, with about $4 billion in assets. 

Siemens to buy Houston energy-services company for $7.6 billion

September 23, 2014

(The Charlotte Observer)

Europe's largest engineering company, which employs about 1,600 in Charlotte, will buy a Houston-based oil-services company for $7.6 billion. Dresser-Rand makes equipment for the oil- and gas-industry, including for hydraulic fracturing. Munich-based Siemens also plans to move the headquarters of its energy businesses to the U.S.

Future uncertain for Sanderson Farms plant in Cumberland County

September 23, 2014

(The Fayetteville Observer)

While Cumberland County commissioners remain divided over whether to offer Sanderson Farms incentives to build a $113 million chicken-processing plant, a company representative says other communities are interested in the project. It isn't clear if any of those communities are in North Carolina.

UNCW economist Hall announces retirement

September 23, 2014

(Greater Wilmington Business Journal)

William "Woody" Hall will retire at the end of the current academic year after 41 years at UNC Wilmington. Hall is the senior economist for UNCW's Swain Center for Business and Economic Services and has conducted research on the Wilmington-area economy for years.
Also: UNC Wilmington announces search committee for new chancellor

Brazil-based adhesives manufacturer to open Gaston County plant

September 23, 2014

(The Gaston Gazette)

Dalton Dynamics Corp. will invest at least $2 million in a 25,000-square-foot plant in Gastonia where it will produce industrial adhesives for automotive and other industries. The Brazil-based company, which expects to hire about 25 people, credits the area's proximity to Charlotte Douglas International Airport and quality of life.