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Arkansas bank to open in The Lumberyard
An Arkansas headquartered bank is opening its first South Carolina location in The Lumberyard development, the company said. Encore Bank’s first Palmetto State branch is set to open this year at 1859 Summerville Ave., Suite 200. The Lumberyard is a new development on the Upper Peninsula of Charleston owned by[...]
Bank relocates headquarters to Charleston
First Capital Bank has accrued so much interest in South Carolina that the company has moved its headquarters from North Carolina to 304 Meeting St. in Charleston. As of yesterday, the bank, which has assets of $387 million in assets as of Dec. 31, has converted from a North Carolina state-chartered bank to a South Carolina[...]
New bank enters SC with expansion into Charleston
No need for a final applause because it’s just the beginning for Encore Bank. The Little Rock, Arkansas-based bank is expanding into North and South Carolina with locations in Charleston and Charlotte. The two Carolina branches are part of a larger plan for strategic growth, as announced in a news release. “This is a[...]
Accounting attracts talent with early internships, job commitments
This story was originally published in the Oct. 4, 2021 edition of the Charleston Regional Business Journal. Some college students still have no clue what courses they’ll take come January, but Yesmine Alston, a sophomore at Winthrop University studying accounting, has already lined up her 2022 summer internship. She began the application process last February. […]
Banks expand in Charleston, bucking national trend
This story was originally published in the July 26, 2021 edition of the Charleston Regional Business Journal. The banking industry has seen branch footprints shrink nationwide over the past several years as customers go mobile. But South Carolina is going against that trend as the state had the highest number of new bank branch [...]
Charleston LDC becomes Climb Fund, going statewide
Charleston LDC has rebranded as the Climb Fund, expanding with $3.5 million in new grants and low-cost loans, and extending its reach across the state. This nonprofit community development finance institution aims to create economic opportunity through lending to small businesses and affordable housing developments that cannot s[...]
Goose Creek works to loan out $250,000 to small businesses
The city of Goose Creek is working to save the small businesses that City Council members say make up the fabric of the community. “The pandemic was no one’s fault, but everyone is still suffering the consequences from it,” said Economic Development Director Matt Brady. “It’s also truly much more efficient to try and assist […]
First National Bank expands into Freshfields Village
First National Bank is expanding its Lowcountry footprint with a new branch at Freshfields Village, the open-air shopping and dining experience at the crossroads of Kiawah Island, Seabrook Island and Johns Island. The new location at 398 Freshfields Drive will be the bank’s third retail branch in the Charleston market, First National Bank said in a news release. By the […][...]
5 businesses receive initial revolving loan funds
Sabatino Covollo started his pizza business in 2012 with a loan from the Charleston Local Development Corp. A decade later, another LDC loan is keeping his doors open again. In January, the owner of Sabatino’s Authentic New York Pizza was one of five recipients in the initial deployment of Charleston’s LDC Revol[...]
First Citizens Bank expands into Nexton
First Citizens Bank is expanding into Nexton with a 4,250 square-foot branch that’s scheduled to open in late 2021. The full-service branch will be located at 107 First Citizens Way, at the corner of Nexton Parkway and Cross Park Drive in Summerville. Along with a staffed lobby, the bank will provide drive-t[...]
Banking sector works to balance coronavirus, business
By Teri Errico Griffis and Alexandria Ng When the Paycheck Protection Program became available, loan officers at S.C. Federal Credit Union found themselves logging into the Small Business Administration website at 3 a.m. and on Sunday afternoons to process loans. This pivot in operational strategy was the best they could do to avoid national web traffic […]
JP Morgan Chase looks to connect S.C. globally
For decades global companies have seen the benefits of doing business in South Carolina, and JP Morgan Chase has added itself to that list. In a time where many businesses are contracting, the bank is going all in on its major branch expansion in the Carolinas, with plans to open 90 new branches and hire […]
