SANFORD — Less than two months after proposing a 300-acre landfill in northwest Lee County, a Raleigh company has pulled the plan off the table in the face of stiff local opposition.

SANFORD — Two banks with major presences in the Sandhills are among the 100 fastest-growing small businesses, according to Fortune magazine.

ROCKINGHAM — International Speedway Corp. (Nasdaq: ISCA), which owns the North Carolina Speedway in Rockingham, reported a record $119.6 million in revenue during the second quarter, ended May 31.

RAMSEUR — Ramtex Inc. plans to lay off 20 percent of its work force in the next 10 days to slash costs in the face of continued pricing pressure from imported textiles.

RAEFORD — In response to public demand for healthier fried foods that have no trans fats, House of Raeford Farms Inc. has introduced a new line of trans fat-free breaded chicken and turkey products to grocery stores.

RALEIGH — Progress Energy Inc. (NYSE: PGN), which supplies electricity to much of the Sandhills region, reported second-quarter income of $152.8 million, or 65 cents per share, on $2.01 billion in revenue, up from $120.6 million in income on $1.96 billion in revenue a year ago.

SANFORD — The Pantry Inc. (NASDAQ: PTRY), a leading convenience store retailer, reported third-quarter earnings of $6.1 million, or 33 cents per share, on $711.5 million in revenue, compared with earnings of $4.1 million on $681.3 million in revenue during the same period a year ago.

ROBBINS — Dynamic Homes LLC, a new modular homes manufacturer, will locate its headquarters and a production plant in Robbins.

LAURINBURG — Business and economics professor Robert J. Hopkins has been named Acting Vice President for Academic Affairs and Dean of the College at St. Andrews Presbyterian College.

ASHEBORO — Mike Miller, chairman and president of FNB Corp. and First National Bank & Trust Co., has been elected vice chairman of the North Carolina Bankers Association and chairman of the association’s Community Investment Corp. of North Carolina subsidiary for the coming year.

PINEBLUFF — Fabric manufacturer McMurray Fabrics plans to lease the 114,500-square-foot factory left vacant last fall by the closing of the Oakwood Homes Corp. mobile home production plant.

ASHEBORO — FNB Corp. (Nasdaq: FNBN) reported second-quarter income of $2.7 million, or 45 cents per share. That is up 43 percent from the $1.9 million in income the bank reported during the same period a year ago.

RALEIGH — First Citizens BancShares Inc. (Nasdaq: FCNCA), which has a strong presence in the Sandhills region, blamed low interest rates for a 16 percent drop in its second-quarter earnings.

TROY — First Bancorp (Nasdaq: FBNC), the parent company of First Bank, reported second-quarter earnings of $4.8 million, or 50 cents per share, a 15.6 percent increase over the $4.2 million in income reported during the same period a year ago.

PITTSBORO — Blast Internet Services has entered into the network management market with its acquisition of OpenNMS, a network management tool, from Sortova Consulting Group.

ASHEBORO — Knit Master, which designs, builds and services quality control systems for textile facilities, has been awarded the U.S. Commerce Department's Export Achievement Certificate for its sales to Asia and Latin America.

FAYETTEVILLE — Cross Creek Mall is being sold to Chattanooga, Tenn.-based CBL & Associates Properties Inc. as part of a package deal totaling $340 million in cash and assumed debt.

SOUTHERN PINES — Crescent Financial Corporation (Nasdaq: CRFN), which owns Crescent State Bank in Cary and will merge with Centennial Bank in Moore County, reported a 47 percent increase in net income during the second quarter, ended June 30.

SOUTHERN PINES — The proposed merger between Centennial Bank and Cary-based Crescent Financial Corp. (Nasdaq: CRFN) has received all of the necessary approvals and is expected to be completed on Aug. 29.

RALEIGH – Capital Bank Corp. (Nasdaq: CBKN), which has four Sandhills offices, reported second-quarter income of $1.6 million, or 22 cents per share. That is a 28 percent increase over a year ago, when the bank reported income of $1.2 million.

CHARLOTTE — Bank of America Corp. (NYSE: BAC), which has a strong presence in the Sandhills, reported record earnings of $2.74 billion for the second quarter, or $1.80 per share. That was up 23 percent from $2.22 billion in income a year ago.

PITTSBORO — Biolex Inc., which uses a genetic technology involving the aquatic plant duckweed to create human therapeutic proteins, has established an advisory board consisting of industry experts in protein manufacturing, process development and clinical and regulatory issues.

WINSTON-SALEM, N.C. — BB&T Corp. (NYSE: BBT), which has a major presence in the Sandhills, reported second quarter income totaling $316.2 million, or 67 cents per share. That is down about 4 percent from the $328 million in income reported during the same period a year ago.

FAYETTEVILLE — The Fayetteville automotive assembly plant site on Interstate 95 is among the Top Five in the South, according to Southern Business and Development magazine.