BNC Bancorp taken over in $1.9 billion sale

BNC Bancorp, North Carolina’s most successful community bank growth story of the past five years, is selling out to Nashville-based Pinnacle Financial Partners. Pinnacle will pay $1.9 billion in an all-stock transaction for the High Point-based bank, which operates as Bank of North Carolina in the Tar Heel state. The deal values BNC’s stock, which closed at $33.20 per share on Jan. 20, at $37.50 per share.

SEC questions Herbalife in anti-corruption probe

The SEC is investigating whether dietary supplement manufacturer Herbalife, which has major operations in the Triad, violated foreign bribery laws while doing business in China. The company, which says it is cooperating in the investigation, recently paid a $200 million fine to the Federal Trade Commission to resolve charges of deceptive sales practices.

Reynolds shares gain 5% on BAT buyout deal

Shares at Winston-Salem-based tobacco company Reynolds American gained 5% last week after it agreed to a $49 billion takeover offer from British American Tobacco Co. Reynolds was one of the best performing Carolinas-based stocks last week, along with 3D Systems of Rock Hill and Greensboro-based Qorvo.

Charlotte ad firm LGA names PR director

Charlotte-based advertising and public-relations firm Luquire George Andrews has promoted Barry Finkelstein to the position of senior vice president/director of public relations. Since joining the agency in 2015, Finkelstein has worked with clients that include American Tire Distributors, BB&T, Bojangles’ and Frontier Capital.

Durham tech company taps $470K from debt offering

A Durham-based healthcare technology company has raised $470,000 in a debt offering. According to a company filing with the SEC, Higgs Boston says it wants to raise an additional $530,000. Last July, the company submitted a trademark request for a mobile application that manages medical procedure activities.

Yadkin insiders sell shares ahead of FNB buyout

Insiders at Raleigh-based Yadkin Bank are divesting their shares in advance of the bank’s planned buyout by FNB Corp. of Pittsburgh. Yadkin board members and executives have sold more than $2.7 million worth of stock this month. The $1.4 billion sale, which signals the end of one of largest community banks in North Carolina, is slated to close this quarter.

Charlotte travel company raises $13M

A Charlotte-based travel company has raised $13 million in a private stock offering. Businessman Nishith Patel signed a filing with the SEC that lists the company, Charlotte HP, as having the same address as Beacon Investment Management Group, a hotel management company where Patel serves as president.

BB&T sees 18% rise in Q4 earnings

BB&T Corp. reports a nearly 18% annual rise in fourth-quarter net income to $592 million, or 72 cents per diluted share. The Winston-Salem-based bank attributes much of the increase to strong revenue growth, even though higher interest rates generated $34 million in pre-tax charges. As of Dec. 31, BB&T reported $219.3 billion in assets.

Feds plan huge wind farm off Kitty Hawk

The federal government will lease nearly 200 square miles of ocean off the Outer Banks for a commercial wind farm and has named nine companies it says are qualified to bid on the project. The government plans to start the bidding at about $245,000, but the lease is expected to fetch millions of dollars. The project would be 27 to 30 miles away from the coast. Plans for offshore wind farms have sparked widespread opposition in coastal North Carolina.

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