Surry Business

For and about business in Surry County, N.C., including Dobson, Elkin, Lowgap, Pilot Mountain and Mount Airy

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Entries Tagged as 'Finance'

Yadkin Valley Bank names executive vice president

March 31st, 2008 · No Comments

Yadkin Valley Bank in Elkin has named Joseph Towell as its new executive vice president and chief lending officer. Towell has more than 30 years of banking and financial experience. He has bachelor’s and MBA degrees from Appalachian State University. Yadkin Valley Financial Corp., the Surry County-based bank holding company that owns Yadkin Valley Bank, […]

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Tags: Finance

Yadkin Valley merger clears last hurdle

March 20th, 2008 · No Comments

With the approval of Cardinal State Bank’s shareholders, Yadkin Valley Financial Corp. (NASDAQ:YAVY) of Elkin can finalize its purchase of the Durham-based bank, probably by the end of this month. Yadkin Valley hoped to buy Cardinal State (NASDAQ:CSNC) late in 2007, six months after the Surry County-based bank holding corporation offered $41.8 million in cash […]

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Tags: Finance

Surrey Bancorp’s earnings rise in 2007

February 23rd, 2008 · No Comments

Mount Airy-based Surrey Bancorp earned $2.79 million, or $0.78 per fully diluted share, for the year that ended Dec. 31, 2007 — a 5.1 percent increase in profitability from year-end 2006. For the fourth quarter of 2007, the company reported earnings of $566,706 or $.16 per fully diluted share, down 9.7 percent from the fourth […]

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Tags: Finance

Wachovia, Bank of America earnings plunge

January 22nd, 2008 · No Comments

Bank of America Corp. said today its fourth-quarter 2007 earnings fell to $268 million, or 5 cents per share, from $5.26 billion, or $1.16 billion, in the quarter that ended Dec. 31, 2006. Wachovia Corp. said its fourth-quarter profit fell to $51 million, or 3 cents per share, from $2.3 billion, or $1.20 per share, […]

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Tags: Finance

Bank of America launches web site for mobile customers

November 16th, 2007 · No Comments

Bank of America has opened its new “Bank the Way You Live” online banking microsite, http://bankofamerica.com/anywhere, “where in one place, customers with on-the- go lifestyles can learn how to break free of conventional banking and find the freedom and control to manage their personal finances online or via mobile or smart phone.” The site features […]

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Tags: Finance

Prepare now for next year’s taxes

November 13th, 2007 · No Comments

The North Carolina General Assembly made a number of changes in the state’s tax laws which may affect your company’s finances in 2008. The N.C. Department of Revenue describes what’s new in the “2007 Tax Law Changes” on its web site. Listed below are links to each section of the document. Title Page Introduction Table […]

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Tags: Businesses · Finance

Southern Community Bank adds to its staff

November 4th, 2007 · No Comments

Southern Community Bank and Trust has four new employees. Maria Sierra is a new teller in Mount Airy where Southern Community has two offices: 2010 Community Drive (off Rockford Street) and downtown at 255 E. Independence Boulevard. Sam Luster joined the northern region commercial banking group in Yadkinville as a commercial banker; Christen Woodard is […]

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Tags: Finance

Surrey Bancorp will pay first stock dividend

November 1st, 2007 · No Comments

The Surrey Bancorp Board of Directors has approved a special cash dividend of 15 cents per share of common stock. The dividend is payable Jan. 2, 2008, to shareholders of record as of Dec. 10, 2007. This is the first time the Surrey Bancorp board has declared a cash dividend. Edward C. “Ted” Ashby, president […]

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Tags: Businesses · Finance

Surrey Bancorp’s quarterly earnings up 1.3 percent

October 30th, 2007 · No Comments

Surrey Bancorp, the Mount Airy-based bank holding company that owns Surrey Bank & Trust, today announced third-quarter earnings of $742,758, or $.21 per fully diluted share. The earnings are 1.3 percent higher than in the third quarter of 2006. The higher earnings resulted from increases in net interest income and non-interest income that narrowly outpaced […]

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Tags: Finance

Bank of America is No. 1 national SBA lender

October 29th, 2007 · No Comments

Bank of America today announced that it has been named the top Small Business Administration (SBA) lender in the nation for the tenth consecutive year. Bank of America made 10,878 SBA 7(a) loans with an average amount of $30,863 and totaling $335,728,500 to entrepreneurs during the 2007 SBA fiscal year, which runs from Oct. 1, […]

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Tags: Finance