Triad

BNC Bancorp buys CertusBank branches

October 20, 2015

(Winston-Salem Journal)

BNC Bancorp has completed its purchase of seven CertusBank branches in upstate South Carolina, giving the High Point-based bank a total of 19 branches in the Palmetto State. BNC gained about $175 million in deposits from the acquisition and now has about $5.4 billion in total assets.

Triad will lose another bank HQ with Yadkin-NewBridge deal

October 19, 2015

(Winston-Salem Journal)

Yadkin Financial's proposed $456 million acquisition of NewBridge Bancorp is the latest in a series of bank consolidations resulting in a loss of high-paying jobs – and decreased community support – in the Triad area.

Greensboro has 2nd highest number of foreclosures in NC

October 16, 2015

(News & Record, Greensboro)

Greensboro trails only Charlotte in the number of homes in some stage of foreclosure, according to a report by California-based researcher RealtyTrac. The Gate City's unemployment rate of 6.2%, compared with the national average of 4.9%, is a contributing factor.

Acquisition costs affect 3Q profit at BB&T

October 16, 2015

(Winston-Salem Journal)

BB&T reported a 3.8% decline in net income in the third quarter due to costs related to its purchases of the The Bank of Kentucky and Susquehanna Bancshares. The Winston-Salem-based bank now employs more than 35,000 and has assets of more than $200 billion.

Reynolds expands e-cig flavors

October 15, 2015

(Winston-Salem Journal)

R.J. Reynolds Vapor has added crema, chai, berry and mint to original and menthol flavors for its Vuse electronic cigarette. Vuse, the nation's top-selling electronic cigarette, had a 34.7% market share based on Nielsen data as of Oct. 3. Vuse is produced at Reynolds' Tobaccoville plant.

Yadkin Financial buying NewBridge Bancorp for $456M

October 14, 2015

(Winston-Salem Journal)

Raleigh-based Yadkin Financial will have $7.1 billion in assets when it acquires Greensboro-based NewBridge Bancorp in a $456 million deal. The combined bank will be the largest community bank in the state with 112 branches.

Ashley Furniture adding 454 jobs in Davie County

October 14, 2015

(Winston-Salem Journal)

Ashley Furniture plans to add 454 jobs and invest $8.7 million at its Advance manufacturing plant. The world's largest residential furniture company has already invested $250 million and employs about 1,120 people in Davie County. Salaries were not immediately disclosed. Click here to read the press release

Krispy Kreme tests 'coffee shop' concept at new Clemmons store

October 12, 2015

(Winston-Salem Journal)

The latest Krispy Kreme Doughnuts shop in Clemmons, which opened last week, will serve as a test lab for the Winston-Salem-based company, which is trying to increase coffee sales from 4% to 12% of revenue.

High Point Market spends more to boost attendance

October 12, 2015

(News & Record, Greensboro)

Aided by $544,528 from the N.C. Department of Commerce, the High Point Market Authority boosted marketing efforts this year by developing an app to help attendees navigate showrooms, spending more to attract international buyers and creating more work stations for reporters.

Conservation group seeks to protect land earmarked for economic development

October 9, 2015

(News & Record, Greensboro)

The North Carolina Wildlife Habitat Foundation asked Guilford County commissioners to donate the county's 806-acre prison farm to protect the land from future development. Local business leaders say the site is ideal for data centers and advanced manufacturers because of its location at the intesection of the state's biggest fiber-optic cable lines.

Label company to close Greensboro plant, lay off 66 workers

October 9, 2015

(News & Record, Greensboro)

Multi-Color plans to close its label-printing plant in Greensboro, idling 66 employees. The Ohio-based company, which makes labels for food and beverage containers and household products, is moving production to other sites in North America.

Wake Forest teams up with Pappas on $15M program

October 8, 2015

(Winston-Salem Journal)

In a partnership with Durham-based Pappas Ventures, Wake Forest Baptist Medical Center has created a $15 million program to help license life-sciences technologies developed by its faculty and staff members. Read the press release here

Unifi expands worldwide reach

October 8, 2015

(News & Record, Greensboro)

Greensboro-based yarn-maker Unifi has licensed a Turkish company to make and distribute its Repreve line of products and added a distributor in Taiwan, allowing the company to expand its footprint in Europe and Asia.

Wake Forest Baptist kicks off $350M capital campaign

October 5, 2015

(Winston-Salem Journal)

Wake Forest Baptist Medical Center has raised about $212 million toward a $350 million fundraising goal that is now moving into its public phase. The campaign is part of a $1 billion fundraising effort that includes the Winston-Salem-based university and medical center.

BB&T acquires stake in global insurance broker

October 2, 2015

(Winston-Salem Journal)

A subsidiary of BB&T will partner with Willis Group Holdings, a Houston-based global risk advisor, and Miller Insurance Holdings, a wholesale insurance broker. Terms of the deal were not disclosed.

Reynolds moving all e-cig production to NC

October 1, 2015

(Winston-Salem Journal)

Reynolds American has shut down contract manufacturing at a Kansas facility and now makes Vuse electronic cigarettes exclusively at its Tobaccoville plant. The company said last year it was adding 200 jobs in Tobaccoville; it's unclear if the shift in production will lead to more jobs.

High Point Regional opens new children's unit

October 1, 2015

(High Point Enterprise)

High Point Regional Health will open a new 3,000-square-foot children's inpatient center this week. The unit replaces a similar center that closed four years ago and includes six private rooms for children requiring an overnight stay.

Federal judge dismisses state lawsuit against Alcoa

September 30, 2015

(WRAL.com)

A federal judge ruled this week that North Carolina waited too late to challenge the ownership of the riverbed on a 40-mile stretch of the Yadkin River where Alcoa and its predecessors built four hydroelectric dams. The dams were used to power an aluminum smelter that closed in 2007. Alcoa is seeking a new federal license that will allow it to keep dam turbines operating for up to 50 more years.
Related: "Water war," January 2012

Stokes County passes 3-year ban on fracking

September 30, 2015

(News & Record, Greensboro)

Stokes County commissioners approved a three-year moratorium on oil and gas development while it reviews land-use rules to protect the environment if fracking occurs. Chatham County has passed a similar ban, and Lee County commissioners also voted last week to draw up a draft moratorium.

Reynolds sells overseas assets of Natural American Spirit for $5B

September 29, 2015

(Winston-Salem Journal)

Japan Tobacco Group will pay about $5 billion in cash for the non-U.S. assets of Reynolds American's Natural American Spirit brand. Sales of the brand, which the company touts as "additive free," have more than doubled since 2009, according to the Wall Street Journal.