Banking
United Bankshares reports 3Q earnings
Oct. 25. United Bankshares Inc. reported third-quarter earnings of $96.2 million, or $0.71 per diluted share, as compared to earnings of $92.5 million, or $0.68 per diluted share, for the second quarter of 2023. Earnings for the third quarter of 2022 were $102.6 million, or $0.76 per diluted share. “Third-quarter results saw accelerated growth and […]
United Bankshares announces 2Q earnings
Aug. 1. United Bankshares reported second-quarter earnings of 2023 of $92.5 million, or $0.68 per diluted share, compared to earnings of $98.3 million, or $0.73 per diluted share, for the first quarter of 2023. Earnings for the second quarter of 2022 were $95.6 million, or $0.71 per diluted share. Richard M. Adams, Jr., United’s CEO, […]
Chase opens first branch in Iredell, as expansion in Charlotte region continues
May 11. Three years after entering North Carolina, JPMorgan Chase & Co. is dipping its toes in the Iredell County market. The largest U.S. financial institution by total assets—$3.38 trillion—Chase has opened a 3,352 square foot branch at 185 Williamson Road, not far from the Brawley School peninsula and Lake Norman. The state-of-the-art branch with […]
Jeanne Jordan new senior VP at ServisFirst
May 9. Jeanne Jordan is the new senior vice president/commercial banking officer at ServisFirst Bank, the full service commercial bank coming to Cornelius later this year. She has 17 years of banking experience, having been regional sales leader/senior vice president for United Community Bank in the Charlotte, Lake Norman and Wilmington areas. She played an […]
United Bankshares announces first quarter earnings
May 8. United Bankshares, which has a branch in Mooresville, reported earnings for the first quarter of 2023 of $98.3 million, or $0.73 per diluted share, as compared to earnings of $99.8 million, or $0.74 per diluted share, for the fourth quarter of 2022. Earnings for the first quarter of 2022 were $81.7 million, or […]
US Rep. Jackson says group chat played role in SVB failure
March 30. North Carolina-based First Citizens Bank & Trust has purchased failed Silicon Valley Bank, the financial institution that collapsed earlier this month. The Federal Deposit Insurance Corp is backstopping the deal which involves the purchase of all deposits and loans to First Citizens. Customers of SVB automatically will become customers of First Citizens, in […]
Cornelius is getting a new bank branch, this one on Bailey Road
March 28. By Dave Yochum. Cornelius is getting another: a) Bank b) Bank c) Bank You guessed bank, right? When ServisFirst Bank opens on Bailey Road a half block from Hwy. 21 later this spring, it will be the 15th bank branch located in Cornelius. The new branch is a subsidiary of ServisFirst Bancshares, a […]
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 […]
