Wayne Thomas named to board

ASHEBORO – Wayne Thomas of Wayne Thomas Chevrolet Pontiac Cadillac has been named to the Community Foundation for Randolph County board for 2010. Serving as officers are Huntley Bossong, president; Chris Griffin, vice president; and Anne Honer, secretary.

Bossong welcomed the following returning board members: former president Stuart Fountain, Mark Hensley, Robbie Jarrell, Warren Knapp, Bonnie Renfro, Nan Revell, Scott Smith, Mike Whitehead and Laura Wilson.

The Community Foundation for Randolph County, an affiliate of the N.C. Community Foundation (NCCF) held its first meeting in 1992 and continues to help support the local nonprofit community through community grants.

The community foundation provides a vehicle for families, individuals and organizations to support their favorite charitable organization.

The NCCF is the single statewide community foundation serving North Carolina and has made nearly $63 million in grants since its inception in 1988.

With more than $110 million in assets, the NCCF sustains 1,000 endowments established to provide long-term support of a broad range of community needs, nonprofit organizations, institutions and scholarships.



Four graduate from trooper school

RALEIGH – Dustin R. Bowick of Trinity, Kenneth R. Burroughs of Asheboro, Justin T. Mitchell of Randleman and Niccoma J. Talley of Troy were among 43 new troopers to graduate Feb. 25 from the 126th Basic School of the North Carolina State Highway Patrol.

They were sworn in during ceremonies at the Cary Church of God in Cary.



Whitley attends leadership institute

ASHEBORO – Jack H. Whitley of Asheboro, a Modern Woodmen of America regional director, recently attended the first Modern Woodmen Leadership Career Institute held at Modern Woodmen’s home office in Rock Island, Ill.

Regional directors and managing partners were invited to attend the institute, which is designed to motivate attendees as leaders, help them learn from industry speakers and exchange management practices with peers. The event will be held at Modern Woodmen’s home office every other year.

Whitley also has earned membership in Modern Woodmen’s 2009 Regional Director Round Table.

The distinction recognizes outstanding leadership and is based on high achievement in life insurance sales.



Mason named to Super Lawyers

ASHEBORO – Attorney Robert A. Mason of Asheboro has been named to the 2010 edition of North Carolina Super Lawyers. Each year, no more than 5 percent of the state’s lawyers receive the honor. Mason was also named in the 2009 edition of North Carolina Super Lawyers.

Mason was listed in the January edition of Charlotte magazine, and his profile included in The New York Times (Charlotte edition), as well as the 2010 edition of North Carolina Super Lawyers magazine, which is distributed to attorneys in North Carolina and ABA accredited law school libraries. Super Lawyers magazine is published by Minneapolis-based Law & Politics.

Mason is the owner of Mason Law PC in Asheboro and a partner in MasonCerbone, a Savannah, Ga., firm. Both firms are devoted to meeting the legal challenges of seniors, the disabled and their families, using an array of sophisticated legal techniques.

Mason, one of the first attorneys in North Carolina to be designated a board certified specialist in elder law by the N.C. State Bar Board of Legal Specialization, is also a Certified Elder Law Attorney by the National Elder Law Foundation, past chairman of the Elder Law Section of the N.C. Bar Association, chairman of Hospice of Randolph County and a frequent speaker on elder and disabilities law issues.

Mason also was recently recognized as one of only 11 attorneys across the state to receive designation as Board Certified Specialist in Elder Law.

The North Carolina Board of Legal Specialization announced the selection this month and pointed out that elder law has been recognized with special category designation since Jan. 1, 2010.



RBC Bank completes sign changes

RALEIGH – Less than two years after changing its name to more closely align with the RBC brand, RBC Bank has changed the signs on more than 430 offices in six states and has made its sign change in an energy efficient and environmentally-conscious manner.

“It was very important to us that our sign change process be as environmentally-friendly as possible,” said Jim Westlake, RBC Bank chairman and CEO.

The new RBC Bank signs have a lighter energy footprint, with LED light bulbs that use less energy, last longer and are more efficient than those manufactured in earlier years.

All old sign products have been recycled – more than 90,000 pounds of aluminum, more than 46,000 pounds of steel, and plastic have been recycled via a green disposal process.



Therapeutic Alternatives expands services in Chatham County

RANDLEMAN – Beginning March 1, Therapeutic Alternatives Inc. expanded its contract with OPC Area Program to provide a variety of mental health, developmental disability and substance abuse crisis services for children, adolescents and adults in Chatham County.

Services include walk in crisis services, community support, community support team, outpatient therapy (individual and group), substance abuse assessments and groups, clinical assessments, medication management and mobile crisis management services to people in Chatham County who qualify for and need the services.

Services will be delivered from clinics in Siler City and Pittsboro and crisis response services through its Mobile Crisis Management team, a service for those experiencing a crisis. The service can be reached by calling 1-877-626-1772.

First Bancorp announces dividend

TROY – The board of directors of First Bancorp, the parent company of First Bank, has declared a cash dividend of $0.08 per share payable April 23, 2010 to shareholders of record as of March 31, 2010.

The $0.08 per share dividend rate is the same as the rate declared in the comparable period of 2009.

First Bancorp is a bank holding company headquartered in Troy with total assets of approximately $3.5 billion.



Whitt named Sandhills Center CEO

WEST END – Victoria Whitt was named the new CEO of Sandhills Center on Feb. 9. She succeeds Michael Watson who resigned last fall to accept a position as assistant secretary of the N.C. Department of Health & Human Services in Raleigh.

“We are very fortunate to have someone with Victoria’s experience and expertise to assume the leadership of Sandhills Center,” said Thad Ussery, a member of the Richmond County Commission and chairman of the board of directors of Sandhills Center.

Whitt has been with Sandhills Center for 30 years and has served as deputy director and COO since 2003. In addition, she has served as interim CEO since last fall. Over the years, she has held many positions in the organization.

Sandhills Center is a “Local Management Entity” of DHHS in matters related to Mental Health, Developmental Disabilities and Substance Abuse in eight counties – Anson, Harnett, Hoke, Lee, Montgomery, Moore, Randolph and Richmond.

Sandhills Center’s administrative offices are located in West End.

Its mission is to develop, manage and assure the availability of community-based, publically funded mental health services through a network of private providers.

In addition, it operates a 24-hour-toll-free call center through which people can get information and appointments with providers of services.

Calls to 1-800-256-2452 are answered by licensed clinicians 365 days a year to provide information and access to help in routine or emergency situations.



First Bancorp reports earnings

TROY – First Bancorp, the parent company of First Bank, said fourth quarter net income available to common shareholders was $4.3 million compared to $5.0 million reported in the fourth quarter of 2008. Earnings per diluted common share were $0.25 in the fourth quarter of 2009 compared to $0.30 in the fourth quarter of 2008.

For the year ended Dec. 31, 2009, the company reported net income available to common shareholders of $56.3 million compared to $22.0 million reported for 2008. Earnings per diluted common share were $3.37 for the year ended Dec. 31, 2009, compared to $1.37 for 2008.

In the second quarter of 2009, the Company realized a $67.9 million gain related to the acquisition of Cooperative Bank in Wilmington. The after-tax impact of this gain was $41.1 million, or $2.46 per diluted common share.

The company’s provision for loan losses amounted to $6.6 million in the fourth quarter of 2009 compared to $3.4 million in the fourth quarter of 2008.

The higher provision was necessary due to higher loan losses that the company has experienced in the difficult economic environment.

The company recorded approximately $1 million in preferred stock dividends in each quarter of 2009 related to the Jan. 12, 2009 issuance of preferred stock to the U.S. Treasury. These amounts have reduced the company’s net income available to common shareholders. Total assets at Dec. 31, 2009, amounted to $3.5 billion, 28.9 percent higher than a year earlier.

Total loans at Dec. 31, 2009 amounted to $2.7 billion, a 20 percent increase from a year earlier, and total deposits amounted to $2.9 billion, a 41.4 percent increase from a year earlier.



First Bank Insurance Services acquires The Insurance Center

TROY – First Bancorp, the parent company of First Bank, announced recently that its insurance subsidiary, First Bank Insurance Services Inc., has completed the acquisition of The Insurance Center Inc., a Montgomery County based property and casualty insurance agency with over 500 customers. The acquisition was effective on Feb. 11, 2010.

Kim Birckhead, president of The Insurance Center, will serve in a temporary role to ensure a smooth transition of her customers to First Bank Insurance Services.

First Bancorp, the parent company of First Bank, is a bank holding company headquartered in Troy with total assets of approximately $3.5 billion.

First Bank Insurance Services is a subsidiary of First Bank and provides property and casualty insurance coverage to individuals and businesses from its offices located in Troy and Southern Pines.



FNB United announces Q4 results

ASHEBORO – FNB United Corp, the holding company for CommunityONE Bank and Dover Mortgage Company, reported financial results for the fourth quarter of 2009.

During the quarter, FNB United recognized a provision for loan losses of $24.7 million and increased the deferred tax assets valuation reserve by $16.3 million.

As a result, FNB United reported a fourth quarter 2009 net operating loss of $28.0 million. Adjusting for dividends paid to the U.S. Treasury on the preferred stock issued in the Capital Purchase Program, the resulting fourth quarter 2009 loss attributable to common shareholders was $28.8 million, or $2.53 per diluted share.

During the fourth quarter of 2008, FNB United recognized a provision for loan losses of $15.5 million and charged off goodwill of $56.0 million. As a result, the company reported a net loss of $60.6 million, or $5.31 per diluted share, for the fourth quarter of 2008. “The economy made 2009 a difficult year for many customers and their community banks in North Carolina, and it is very disappointing to report a loss,” said Michael C. Miller, president and CEO.



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