Banking
Former Wells Fargo Exec will pay $17 million civil penalty
March 16. The former head of Wells Fargo Bank’s retail banking division has agreed to plead guilty to obstructing a government examination into sales practices misconduct, and pay a $17 million civil penalty. Federal authorities said Carrie L. Tolstedt, 63, of Scottsdale, Az. agreed to plead guilty to one count of obstruction of a bank […]
Bank woes in Silicon Valley and NY State likely do not apply here
March 13. By Dave Yochum. Hundreds of members of Congress were on a Zoom call last night during which US Treasury Dept. officials announced extraordinary steps being taken to secure the nation’s financial system in the wake of the failure of Silicon Valley Bank. It was the second-largest bank failure in American history. Meanwhile banking […]
ServisFirst, a $15 billion Alabama bank, will open in LKN this year
Feb. 3. It looks like another bank is coming to Lake Norman. ServisFirst Banchsares, which opened its first North Carolina office in December in Ballantyne, plans to open up somewhere in Lake Norman. There’s no word on where they’ll land in Lake Norman but the Birmingham, Ala.-based bank has already hired Lee Millican as its […]
United Bankshares announces record earnings for 2022
Jan. 26. United Bankshares Inc. reported record 2022 earnings of $379.6 million as compared to earnings of $367.7 million in 2021. Earnings per diluted share for 2022 were $2.80 as compared to earnings per diluted share of $2.83 for 2021. Earnings for the fourth quarter of 2022 were $99.8 million, or $0.74 per diluted share, […]
United Bankshares post 3Q results
Oct. 27. United Bankshares third-quarter earnings were $102.6 million, or $0.76 per diluted share, as compared to $95.6 million, or $0.71 per diluted share, for the second quarter of 2022. The quarter was highlighted by continued broad-based loan growth, net interest margin expansion and strong credit quality metrics. Annualized loan growth, excluding Paycheck Protection Program […]
blueharbor posts higher net
Oct. 26. Mooresville-based blueharbor bank third-quarter net income rose 45 percent to $2 million compared to the same year-ago quarter. For the nine months ended Sept. 30, the Bank reported net income of $4.86 million, and increase of 35 percent over the same period last year. Total assets rose to $418.6 million at Sept. 30, a […]
Eatmon joins Peoples Bank
Sept. 29. Thomas Eatmon recently joined Newton-based Peoples Bank as a business development officer in the bank’s Denver market. He was formerly with blueharbor bank, based in Mooresville.
United Bankshares reports 17% increase in 2Q earnings
Aug. 1. United Bankshares (NASDAQ: UBSI) reported second quarter earnings of $95.6 million, or $0.71 per diluted share, as compared to earnings of $81.7 million, or $0.60 per diluted share, for the first quarter of 2022. The quarter was highlighted by continued loan growth, net interest margin expansion and strong credit quality metrics. Annualized loan […]
Pappas is new senior VP at First National
May 3. Richard Pappas is a new senior vice president and business banker at First National Bank, the principal subsidiary of F.N.B. Corp. He joined FNB in 2017 with more than 25 years of industry experience at institutions like SouthTrust/Wachovia Bank, Wells Fargo Bank, Regions Bank and New Dominion Bank. The East Carolina University grad […]
United Bankshares 1Q earnings rise 10%
April 29. United Bankshares reported earnings for the first quarter of 2022 of $81.7 million, or $0.60 per diluted share, as compared to earnings of $73.9 million, or $0.56 per diluted share, for the fourth quarter of 2021. The quarter was highlighted by strong 11% annualized loan growth (excluding Paycheck Protection Program loans), net interest […]
