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Feb. 22 Green Drinks Lake Norman meets 5:30-7:30 pm Feb. 23 at Campania Café in South Main Square in Davidson. Topic: The Sustainability Scholars Program at Davidson College. Info: Kathleen Rose 704-896-0094 |
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Feb. 22 The Davidson Toastmasters is presenting a four session workshop April 4, 11, 18, 25. Info: Tim White 704-947-6932, or tim.white614@gmail.com |
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Feb. 22 Cornelius-based Cornerstone Financial Partners has merged with Martha Wright’s LPL Financial firm in Greenville, SC. |
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Feb. 22 The Dove House Children’s Advocacy Center's fundraiser April 28 at the Charles Mack Citizen Center needs new auction items, services and gift certificates for “An Evening for Dove House”. Info: Ken Wooten 704-883-9814 or ken@dovehouse.us |
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Feb. 16 Uwharrie Capital Corp, parent company for Bank of Stanly, Anson Bank and Trust and Cabarrus Bank and Trust, reported net income for the year ended Dec. 31, 2011 of $900,000, an increase of $187,000 compared to the prior year. Net income available to common shareholders was $255,000 or 3 cents per common share this year compared to $68,000 or 1 cent per common share for 2010. Net income available to common shareholders reflects the payment of dividends on preferred stock issued by the Company. At Dec. 31, 2011 the company had total assets of $527 million. |
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Feb. 9 Rowan-Cabarrus Community College is hosting the SkillsUSA Regional Competition to encourage students, teachers and industry to work together to build a skilled workforce. SkillsUSA is an applied method of instruction for preparing America’s high performance workers in public career and technical programs. |
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| DeMAO |
Sherre teaches us the most effective business owners know how to get things done beyond the confines of their minds and their capabilities. As a result, they make more effective decisions and take more effective action when choices need to be made. Make 2012 the year you become a manager of your destiny. |
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| KANE |
Cheryl Kane teches us that time allocation, prioritizing how time is used, and controlling access to your time for specific efforts are all necessary to efficiently and effectively use your most rare and valuable asset: time. |
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Aquesta Bank back in the black, 4th quarter results well ahead of last year |
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| ENGEL |
Jan. 26 Aquesta Bank is back in the black. CEO Jim Engel said its unaudited operating income for the fourth quarter of 2011 was $78,000 compared to net income of $2,000 for the same quarter of 2010. Net interest income for the fourth quarter of 2011 increased to $1.8 million from $1.6 million. The increase was largely due to improved net interest margins, but loan volume declined amidst a weak economy. At the same time, Aquesta had set aside a total of $1.8 million in loan loss reserves at the end of 2011, compared to $1.2 million set aside at the end of 2010.
Engel said Aquesta has hunkered down because of the economy.
"We had a rough patch in the third quarter and really decided to reduce our cost structure. We took a hard look at our loan portfolio to see if they are all priced correctly," Engel said, explaining that the bank is prepared for slow growth in 2012 and 2013. The bank reported an $859,000 loss during the third quarter of 2011 (compared to net income of $124,000 for the same year-ago quarter) and cut its workforce by about a dozen people.
"We are trying to be conservative this year, expecting slow growth, a soft economy in 2012 and 2013, so we are well-positioned if there is any uptake in the economy. It would be very good for us," Engel said. Aquesta’s total assets increased to $198.9 million at Dec. 31, 2011 compared to $195.5 million at at the end of 2010, an increase of 1.7 percent. Underscoring the weak economy and high unemployment, total loans decreased to $115.9 million at Dec. 31 of last year, vs. $126.2 million at the end of 2010. Loan loss provisions in the fourth quarter of 2011 were $600,000 compared to the same quarter of 2010 provisions of $956,000.
He said the home-grown bank is well positioned for continued economic weakness but is also prepared to resume its prior growth pattern when the local economy improves. “We are pleased that we have made substantial progress in reducing costs and further strengthening the balance sheet. While there are some signs of improvement in the local economy, we are committed to remaining conservative until the picture becomes clearer. Such conservatism should result in improved operating profits over time,” Engel said. |
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| Cornelius: This 4,119 square foot lakefront house has sold for $834,000 |
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In Cornelius
A house at 19710 Shearwater Point Drive has sold for $834,000 after being listed at $899,500. The 4,119 square foot lakefront house, which has a tax value of $842,300, was built in 1989 but fully updated.
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| Judy and Tony DaDante |
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A resort-style spa in Mooresville, near Exit 33 on I-77, gives new meaning to the phrase creature comforts. Inspired by the “look and feel of a spa in Tuscany,” Pampered Pets Inn is a full-service pet boarding and day care facility. It’s just been acquired by Judy and Tony DaDante.
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A lot has happened in the media lately that makes me shudder. Some of it has to do with the art of media relations, some has to do with media not doing our jobs.
• N.C. Rep. Thom Tillis put out a press release Jan. 28 saying, “I have concluded that most (but not all) of the mainstream media will not report on a balanced basis. … Therefore, effective today, I have resigned myself to embracing this reality and making the best of it.” |
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