North Carolina

The Los Angeles-based subsidiary of Royal Bank of Canada is elbowing into fast-growing North Carolina and South Carolina with a strategy focused on middle market banking.

The expansion-minded Hampton Roads-based lender announced plans to acquire Dogwood State Bank just weeks before its plans to close a deal for a Virginia-based competitor.

Acquiring its local rival would give First Bank a commanding presence in Fayetteville and add to its presence in Raleigh, Charlotte and Wilmington.

The seemingly expensive acquisition of Aquesta Financial Holdings is the cost of expanding in North Carolina's largest city.

The nation's second-largest credit union is thanking all full-time employees for their work since COVID hit. But even as vaccinations ramp up, remote work will be the norm for several more months.

The North Carolina-based credit union appointed a new chief financial officer and a new president to its for-profit arm.

The longtime leader joined State Employees' Credit Union, the second-largest CU in the nation, in 1975 and was named CEO in 2016.

A planned combination with Premier Federal Credit Union in Greensboro, N.C., will expand the Charlotte-based credit union's reach in the Tar Heel State.

Cosby Davis joins the executive team at North Carolina's third-largest credit union after nearly a decade at nearby Allegacy Federal Credit Union.

Members of $5.3 million-asset WJC Federal Credit Union will vote to merge into $3.2 billion-asset Truliant FCU, based in North Carolina.

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina.

The $3.1 billion-asset institution's product will not carry any fees and offers a variable APR.

President and CEO Patty Idol will retire later this year and will be succeeded by EVP Amy Woody. Both have been with the credit union sine 1985.

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered.

In response to Truliant Federal Credit Union's request for an injunction, the bank said it has already spent $125 million on the Truist branding, and changing that name would add further costs and damage the bank's reputation.

Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans.

Employees of the $2.9 billion-asset credit union will receive one-time payments of $1,000, though executives and senior leaders are excluded.

The acquirer had pursued a de novo strategy in its home state but was unable to raise enough capital.

Triad Business Bank, which will immediately have offices in three cities, will debut next week.