Business

Acquisitive outsiders gobble up North Carolina banks

There was a time when North Carolina had the upper hand in banking-industry consolidation and the development of startup banks. Those days are gone. South Carolina’s South State Bank is buying Charlotte-based Park Sterling for $690 million, while Virginia-based TowneBank is acquiring Raleigh-based Paragon Bank for $324 million. The deals follow the pending acquisition of […]

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LendingTree stock soars on strong revenue gains

Shares at LendingTree are on fire, tacking on a 14% gain last week following a 9% increase earlier this month. The Charlotte-based company, which matches borrowers with lenders, was among the best performing Carolinas-based stocks last week. Other companies with a strong showing include Live Oak Bancshares Inc. of Wilmington and Charleston-based software company Benefitfocus […]

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3,000 jobs could be cut as regulators approve sale of Dollar Express

It appears that 200 more employees than originally thought could lose their jobs as a result of Dollar General’s purchase of hundreds of stores operated nationwide by Dollar Express, the Charlotte-based chain of former Family Dollar stores owned since late 2015 by private equity firm Sycamore Partners. The Federal Trade Commission has approved the sale, and says some 3,000 individuals will […]

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Live Oak Bank CEO tops list of N.C. donors to Trump inauguration

With a check for $250,000, James “Chip” Mahan, CEO of Live Oak Bank in Wilmington, was the state’s largest individual donor to President Donald Trump’s inauguration ceremony. An analysis of recently released Federal Election Commission filings shows that Mahan wasn’t alone in contributing to the inaugural committee. Corporations and business leaders across the state — […]

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