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Small business is big business in S.C.
You’ll hear it from politicians hoping to get your vote and occasionally raise your taxes for water, sewer and roads: Small business is the backbone of the nation’s economy. Turns out, they’re right. Most companies have fewer than five employees, and in South Carolina the margin is not even close. Check out the numbers, from […]
Heritage Trust Federal Credit Union names new president
Heritage Trust Federal Credit Union's board of directors has named Jason S. Lee as the financial institution's new president and chief operating officer. Lee replaces CEO Jim McDaniel, who worked for Heritage Trust for 22 years, the company said. Lee previously served as executive vice president at Orion Federal Credit Union, an $810 million financial […]
FNB looks for opportunity in Charleston market
By Barry Waldman First National Bank, a Pittsburgh-based bank with nearly $34 billion in assets, says it believes its business approach and an emergent market are a perfect marriage in a crowded Charleston banking market. The bank opened its first retail branch in downtown Charleston in April, at the corner of Calhoun and Meeting streets, […]
Knowledge Capital Group acquired
Charleston-based management consulting firm Knowledge Capital Group has been acquired by Ponder & Co., a health care financial advisory firm in Nashville, Tenn. “We are excited to offer Knowledge Capital Group’s management consulting expertise to our clients,” Ponder CEO Julian Head said in a news release. Head said that acquiring Knowledge Capital allows Ponder to […]
Carolina Financial Corp. to acquire Carolina Trust
Carolina Financial Corp., the holding company of CresCom Bank, has agreed to acquire Carolina Trust Bancshares Inc., a Lincolnton, N.C.-based company. Carolina Trust Bancshares is the holding company for Carolina Trust Bank, which operates 11 full-service offices and one loan production office in the Charlotte area. As of March 31, Carolina Trust had $621 million […]
S.C. Federal merges with Upstate credit union
S.C. Federal Credit Union has officially acquired Spartan Federal Credit Union after a member-approved merger in January. Spartan Federal will remain at its current location at 930 Charisma Drive in Spartanburg, though the facility has been converted to an S.C. Federal financial center. Spartan Federal accounts were converted to S.C. Federal accounts earlier this month, […]
Charleston among most affordable places to have a baby
“Affordable” may not be the first word that comes to mind when you think of Charleston, but in at least one aspect it is, according to a study from real estate company Redfin. Charleston is the third-most affordable place to raise an infant, with an average cost of $16,566 in a baby’s first year. Birmingham, […]
Judge denies Parish’s request for resentencing
A federal judge has denied a resentencing request from a Ponzi scheme mastermind who swindled about $66 million from hundreds of people. Al Parish was sentenced to 292 months in prison for the scheme by Judge David Norton in July 2008 and is held in the low-security federal correctional institution in Butner, N.C. After learning[...]
Former Berkeley County schools CFO pleads guilty to state charges
Brantley Thomas, former CFO of the Berkeley County School District, was sentenced to 11 years in South Carolina prison on Friday after pleading guilty Friday to 35 charges of public corruption and two charges related to stealing from a business that hired him as a bookkeeper. The state sentence comes less than two months after […]
Survey: Charleston baby boomers doing their fair share of borrowing
It looks like millennials aren’t the only ones buying avocado toast. Millennials might be walking around with an average of $23,000 in non-mortgage debt, according to a LendingTree study, but baby boomers in the Holy City are carrying nearly $5,000 more — that's about 625 more delicious toasts' worth, by our highly unscientific count. The Charleston area sits […][...]
Investment banking firm opens in Charleston
A new investment banking firm has opened its doors in Charleston. Charles Towne Holdings, based in the Cigar Factory on East Bay Street, specializes in debt capital markets, investment banking and strategic advisory services for a range of industries. Andy Brusman, executive chairman for the company, said it will help guide midd[...]
