Aquesta

This tag is associated with 9 posts
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Aquesta Financial reports gains in recurring net income for second quarter

Aquesta Financial Holdings second-quarter net income was $2.031 million this year compared to $482,000 during the second quarter of 2017. This year’s results include a one-time after-tax gain of $1.7 million on the sale of Aqusta Insurance. There were also one-time transaction costs which reduced earnings by $292,000. Normalized earnings were $622,000, a 29.0 percent increase over […]

Charlie Curtis new SVP at Aquesta

Charlie Curtis has been promoted to to senior vice president/western regional commercial executive at Aquesta Bank, based in Cornelius. A lifelong resident of North Carolina with over 25 years in the NC banking industry, he has been with Aquesta since 2011. Previously he was responsible for the management of the commercial lending team in the Lake […]

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Aquesta Financial sells insurance unit

July 2. NFP,​ one of the nation’s​ largest​ insurance broker​s​​, has acquired Aquesta Insurance Services. It is estimated the sale will result in an after tax gain to Aquesta’s parent company, Cornelius-based Aquesta Financial Holdings, of approximately $1.7 million or 43.1 cents per share. NFP will continue to operate from the current Aquesta Insurance locations, […]

Aquesta

Aquesta announces 2017 fourth-quarter earnings

Jan. 26. Aquesta Financial Holdings, Inc., the parent company of Aquesta Bank and Aquesta Insurance Services, today announced earnings and loan growth for the fourth quarter of 2017. For the fourth quarter of 2017, Aquesta had unaudited net income of $204,000 at 6 cents per share compared to 2016 fourth quarter net income of $529,000 […]

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Aquesta Bank plans new branch in S. Mecklenburg

Cornelius-based Aquesta Bank plans to open a branch on Ardrey Kell Road in a fast-growing upscale area of South Mecklenburg. The full-service branch, pending approval from the Commissioner of Banks as well as the FDIC, will likely have about 3,000 square feet. “We are expanding in south Charlotte to capitalize on the terrific growth we […]

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Bank growth continues, earnings reports from Aquesta, Uwharrie

April 26. Net income at Aquesta Financial Holdings fell 26 percent during the first quarter of 2016, but the parent company of Aquesta Bank is on a growth streak, having invested in the Charlotte market during the past year. “Expansion costs must be incurred prior to revenue recognition. For example, the bank’s investment in lenders […]

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Aquesta Bank will open Wilmington branch

Feb. 2. Cornelius-based Aquesta Bank will open a full service bank branch in Wilmington, proof, perhaps, that the Aquesta name and logo translates well to an upscale, waterfont-oriented marketplace. Aquesta Financial Holdings officials said they “recently finalized the purchase of a soon-to-be full-service bank branch” in Wilmington. While no other details were immediately available, the […]

Banks report stellar growth in income, assets, deposits

Banks in the Golden Crescent are benefiting from an extraordinary economic boom in North Carolina, and their first nine months reflect exceptional growth in and around Charlotte. Harry Davis, the chief economist for the North Carolina Bankers Association, says loan growth nationwide is running about 2 percent per year. In North Carolina, it’s running at […]

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Aquesta names City Executive for Concord

June 26. Aquesta Bank has recruited commercial banker Michelle Riley from Bank of North Carolina to be the Concord City Executive for the Cornelius-based bank. “It’s a very attractive market; there are quite a few businesses that are looking to expand there,” said Aquesta CEO Jim Engel. “This [a commercial loan production effort] is a […]

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