Banking
Follow the money: Fifth Third chases market share with 2nd branch in Cornelius
Aug. 3. By Dave Yochum. With Fifth Third Bank officially opening its “Next Gen” financial center on West Catawba today, there are now more than a dozen banks dividing up more than $1.35 billion of deposits in Cornelius. Fifth Third is the only one with two branches in Cornelius. Of course, Aquesta’s main branch is […]
Uwharrie announces 2Q net
July 26. Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported net income for the three months ended June 30, 2021 was level with the same period last year. Net income available to common shareholders both this past quarter and the same year-ago quarter was $1.5 million or $0.21 per share. Consolidated total assets at […]
United Bank reports much higher 2Q net
July 23. United Bankshares Inc.—different from United Community Banks (UCBI)—today reported earnings for the second quarter and first half of 2021. Earnings for the second quarter of 2021 were $94.8 million, or $0.73 per diluted share, as compared to earnings of $52.7 million, or $0.44 per diluted share, for the second quarter of 2020. Earnings […]
Aquesta reports 34% gain in 2Q net
July 23. Aquesta Financial Holdings, which will be acquired by United Community Banks for $131 million later this year, reported a 34 percent gain in earnings during the second quarter of 2021 vs. the same period last year. For the first half, Aquesta reported unaudited income from continuing operations of $4.4 million, up 92.4 percent […]
Credit Karma to add 600 jobs; average pay $156K
May 25. Credit Karma, a personal finance technology company, will invest more than $13 million in a high-tech engineering hub in Charlotte, adding 600 new jobs. Credit Karma, a unit of Intuit, is a consumer technology platform best known for providing more than four billion free credit scores to consumers. The company has more than […]
United Community acquires investment advisor
May 13. United Community Banks has acquired FinTrust Capital Partners, a 13-year-old employee-owned investment advisory firm headquartered in Greenville, SC. As of March 31, FinTrust had assets under management of $2.0 billion. United has $18.6 billion in assets and 161 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee. Local offices are in Huntersville […]
United Bank 1Q earnings more than doubled
April 26. United Bankshares reported record earnings for the first quarter of 2021 of $106.9 million, more than double earnings during the first quarter of 2020. Record earnings were primarily due to higher income from mortgage banking activities, the impact of the Carolina Financial acquisition and a lower provision for credit losses primarily due to […]
Carol Shinn new senior VP at Peoples
April 8. Carol Shinn, a 35-year veteran of the banking industry, has been promoted to senior vice president/chief information officer at Peoples Bank. She joined the Newton-based bank in 2015. Previously director of deposit operations at Peoples Bank, she has completed the LSU Graduate School of Banking. In her new role, Shinn will be in […]
Aquesta reports sharply higher 1st quarter
April 7. Cornelius-based Aquesta Financial reported sharply higher first quarter results. The parent company of Aquesta Bank had unaudited net income of $2.5 million (46 cents per share) compared to the first quarter of 2020 net income of $881,000 (16 cents per share). Earnings grew at the rate of 186.5 percent in the first quarter […]
Fifth Third’s ‘next-gen’ branch will open in Cornelius in June
April 2. By Dave Yochum. A new Fifth Third branch on West Catawba in Cornelius will have an entirely different banking experience from the traditional Fifth Third branch that will remain open just a mile away. It will be a “next-generation” branch, which means open spaces and no teller windows. Fifth Third says it will […]
