Eastern

How Live Oak's Chip Mahan set out to create a different kind of bank

February 29, 2016

(Greater Wilmington Business Journal)

Live Oak Bancshares, the only publicly traded company headquartered in Wilmington, has rocketed since its inception in 2008 to become the nation's second-largest SBA lender, with assets totaling more than $1 billion at the end of 2015. Founder and CEO Chip Mahan deliberately set out to create a different type of bank that is employee-centric and capable of expanding in the coastal city, which is not known as a financial center.

UNC medical school opens Wilmington campus

February 29, 2016

(Greater Wilmington Business Journal)

UNC School of Medicine will open in March a branch campus at New Hanover Regional Medical Center, where up to 24 third- and fourth-year students will train for an entire year.

CFCC performing arts center gets $1.5M donation

February 29, 2016

(StarNews, Wilmington)

Allan and Laura Wilson have donated $1.5 million for naming rights to Cape Fear Community College's Humanities and Fine Arts Center, which opened in October. The Wilsons are part of a family that once owned 20 grocery stores in the Wilmington region. The Wilsons Supermarket chain was sold in 1994.

Craven County golf course closing after 51 years

February 26, 2016

(New Bern Sun Journal)

Carolina Pines Golf and Country Club is closing due to a decline in business, partner Joe Mospaw says. Mospaw bought the 51-year-old club and golf course in 2001. Over the last 15 years, membership has declined from about 200 members to 51 members.

Wilmington's Vertex Railcar launches leasing company

February 26, 2016

(Greater Wilmington Business Journal)

The rail car manufacturer has started Vertex Rail Leasing, a subsidiary aimed at customers who want to lease its cars rather than buy them. Vertex currently employs 255 people at its manufacturing site in Wilmington, where some day the company expects to produce 8,000 cars a year ("Rail tale," January).

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.

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.

Brunswick courts tire manufacturer, 1,000 jobs

February 24, 2016

(Greater Wilmington Business Journal)

Economic developers in Brunswick County are looking to attract an international tire manufacturer who would bring 1,000 jobs. The deal is far from done: The unidentified company is considering sites in 10 states to build a $458 million facility that would support its North American customers.

Proposed Wilmington apartments feature shipping containers

February 24, 2016

(StarNews, Wilmington)

Tired of the seeing the same old apartment buildings going up in Wilmington, a developer is hoping to build a 70-unit complex using shipping containers. Modern Urban Development has proposed five apartment buildings on Queen Street described as "edgy and high-end."

Sanitation company cutting 84 jobs in Sampson County

February 22, 2016

(The Fayetteville Observer)

Packers Sanitation Services will cut 84 jobs after its cleaning contract at a Smithfield food-processing plant was unexpectedly terminated. The Wisconsin-based company said affected workers will be offered jobs at another local plant.

Manganiello to lead cast of military drama filming in Wilmington

February 18, 2016

(StarNews, Wilmington)

A&E Studios' production of Six, which will air on the History channel, will star Joe Manganiello, known for his roles in True Blood and Magic Mike. Production will begin in March in Wilmington. Six is a military drama about the lives of the members of Navy SEAL Team Six.

Wilmington construction materials company bought by Colo.-based firm

February 17, 2016

(Greater Wilmington Business Journal)

Wilmington-based American Materials Co. was acquired by Summit Materials for an undisclosed amount. Summit is a publicly traded construction materials company based in Denver with operations in 17 states. AMC has five gravel and rock processing plants in the Carolinas.

Wilmington to study moving rail lines out of city

February 17, 2016

(StarNews, Wilmington)

A Wilmington task force will spend $300,000 on a study that will look at moving rail traffic out of the heart of the city, where tracks cross local streets 32 times, creating traffic and safety concerns. A realignment could provide a more direct path to the Port of Wilmington, while some existing tracks could be used for a trolley service, city councilwoman Laura Padgett said.

ECU chancellor search continues

February 16, 2016

(The Daily Reflector, Greenville)

ECU's chancellor search committee will meet Wednesday in Raleigh to review candidates; three finalists will be submitted to UNC System President-Elect Margaret Spellings, who will submit her nomination on April 15. The new chancellor will start July 1.

Lawmakers study environmental harm of solar panels

February 12, 2016

(WRAL.com)

North Carolina's thriving solar-power industry means the state has massive numbers of solar panels. Lawmakers questioned state environmental officials and company representatives about their impact at a Raleigh hearing.

Wilmington's Live Oak Bank launches e-lending program

February 11, 2016

(Greater Wilmington Business Journal)

Live Oak Bank has completed the beta phase of its new e-lending program, which will allow small businesses within its existing industries to upload loan documents, fill out forms and electronically sign documents.

Wilmington seeks public input on short-term rentals

February 9, 2016

(StarNews, Wilmington)

Wilmington residents appear to be divided over short-term rentals, such as those offered on VRBO.com and Airbnb. It joins other N.C. cities, including Asheville and Raleigh, that will consider developing new rules for the practice.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

New Bern hospital undergoing $64M renovation, expansion

February 3, 2016

(New Bern Sun Journal)

Projects underway at the 52-year-old CarolinaEast Medical Center will add more than 30,000 square feet of space and renovate 70,000 square feet. Plans include expanding the ER, improving labor and delivery services, and building two new operating rooms and a cancer-treatment center. Work is expected to be complete in late 2018.

Sanderson Farms plant in Robeson County to open in early 2017

February 3, 2016

(The Fayetteville Observer)

Construction of Sanderson Farms' $145 million chicken plant and nearby $17 million hatchery is underway, according to a spokesman, and the facilities are expected to open in January. The chicken processor said it will create more than 1,100 jobs.