Zaxby’s helps grant wishes
Seventeen area Zaxby’s restaurants recently raised $103,978 for Make-A-Wish Eastern North Carolina. Among the participating restaurants were the Zaxby’s in Smithfield and Clayton.
The money will help grant wishes to children with life-threatening illnesses.
“We are truly overwhelmed by the incredible support we received from our guests during this campaign,” said Tom Little, who owns the Clayton Zaxby’s.
“Zaxby’s is a valued national partner who continues to demonstrate its dedication to Make-A-Wish,” said Kristen Mercer Johnson, president and chief executive of Make-A-Wish Eastern North Carolina. “We are fortunate and extremely grateful for the support of all of the owners and operators who serve our local communities.”
PGI makes bid for competitor
Nonwovens maker Polymer Group Inc., which has a plant in Benson, has made an offer to buy Fiberweb Plc., a London-based maker of nonwovens and geosynthetics, according to Textile World magazine.
Fiberweb’s board of directors has recommended that the company accept PGI’s offer.
PGI focuses primarily on producing nonwovens for the hygiene, wipes, medical and industrial markets. In the United States, Fiberweb has plants in Tennessee and Minnesota.
First Citizens acquiring Western N.C. bank
First Citizens Bank & Trust Co., the banking company that originated in Johnston County, has announced that it will acquire 1st Financial Services Corp., which provides commercial banking products and services through its subsidiary, Mountain 1st Bank and Trust Co.
The agreement provides for the merger of Hendersonville-based 1st Financial Services Corp. and Mountain 1st Bank into First Citizens Bank. The boards of all three companies have approved the merger.
Under the terms of the agreement, the U.S. Treasury will receive $8 million, which will allow 1st Financial Services Corp. to exit from the federal TARP program. Common shareholders of 1st Financial Services Corp. will receive $2 million.
“This agreement is a significant opportunity for us to expand our presence in our home state of North Carolina,” said Frank B. Holding Jr., chairman and chief executive of First Citizens. “We currently have a vibrant branch network and customer base throughout Western North Carolina, and we look forward to the prospects of building on this foundation in an important market for us.”
Bank reports loss
Four Oaks Fincorp, the holding company for Four Oaks Bank & Trust Co., has reported a second-quarter loss of $104,000. A year ago, second quarter earnings were $29,000.
For the six months ended June 30, the bank lost $27,000. A year ago, it made $581,000.
The bank has a branch in Clayton.
Free business seminars
The Small Business Center at Johnston Community College has scheduled the following free seminars. To register, call Shelley Gardner at 919-209-2591, email email@example.com or visit www.johnstoncc.edu/sbcseminars.aspx.
Johnston Community College has scheduled the following continuing education classes for business and industry professionals. For more information, call Rosa Andrews at 919-209-2015 or email firstname.lastname@example.org. To register, visit www.johnstoncc.edu/ceregistration.aspx.