CHARLOTTE – Wachovia Corporation (NYSE: WB) announced today that it has completed the conversion of SouthTrust Securities brokerage systems and client accounts to the Wachovia Securities system. The brokerage conversion included 59,000 client accounts and $3.1 billion in client assets.

CHARLOTTE – Wachovia Corporation (NYSE: WB) announced today that it is the No. 1 small business lender within its markets by dollar volume, based on data from the Federal Financial Institutions Examination Council.

CHARLOTTE -- With more and more Americans becoming responsible for planning their own retirement, Wachovia Corporation has announced it will create a new Retirement and Investment Products Group, placing many of the company’s retirement services and investment products under one organization that will help its customers plan for and live in retirement.

CHARLOTTE – Wachovia Corp. (NYSE: WB) today reported record net income of $1.62 billion, or $1.01 per share, in the first quarter of 2005 compared with $1.25 billion, or 94 cents per share, in the first quarter of 2004.

CHARLOTTE – Wachovia Corporation (NYSE: WB) announced that its board of directors approved the company’s regular quarterly cash dividend on its common stock of 46 cents per share.

CHARLOTTE – Wachovia Corporation (NYSE: WB), the nation’s fourth largest bank holding company, announced today that it has entered into a definitive agreement to acquire Palmer & Cay Inc., the 15th-largest insurance brokerage and benefits consulting firm in the United States.

RALEIGH - Gov. Mike Easley announced today that visitors to North Carolina spent $13.2 billion in 2004, which is an increase of 4.9 percent from the previous year and the largest single-year increase since 2000.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed the acquisition of D&D Oil Co., Inc. of Rome, Ga.

SOUTHERN PINES – In honor of the return of the U.S. Open to Pinehurst this June, the North Carolina Symphony will premiere an original composition, “Sketches from Pinehurst,” by North Carolina Symphony bass trombonist Terry Mizesko.

RESEARCH TRIANGLE PARK – The Boards of Directors of the Council for Entrepreneurial Development and NC IDEA today announced that the two organizations have formed a strategic alliance to help North Carolina become the country’s leading state for innovation-based entrepreneurs.

WAKE FOREST – Sprint today introduced a pair of location-based services that will enable its customers to access driving directions and roadside assistance through a simple wireless voice call.

WAKE FOREST – Sprint and FOX News Channel today announced the delivery of live news to Sprint TV, known as FOX News Channel Live.

CHARLOTTE – Fort Bragg is one of six stops on the sixth annual Bank of America Carolina Panthers Caravan Tour, which brings the “Panthers Experience” to young fans and provides information about the Future Scholar 529 College Savings Plan.

LAUREL HILL – Kordsa USA announced today that it is investing $22 million to modernize and expand its tire cord fabric twisting and weaving plant in Laurel Hill.

RALEIGH – In June, Progress Energy will begin installing automated meters for 2.6 million residential customers in Florida and the Carolinas, resulting in a less-intrusive meter-reading process for customers, more accurate bills and fewer estimated bills.

RALEIGH – Progress Energy (NYSE: PGN) released its 2004 annual report to shareholders today emphasizing the company's focus on sound strategy, steady execution and highlighting the company’s leading efforts in economic development and community initiatives in its service areas.

RALEIGH – Progress Energy (NYSE: PGN) today reported ongoing earnings of $126 million, or 52 cents per share, for the first quarter of 2005, compared with ongoing earnings of $145 million, or 60 cents per share, for the first quarter of 2004.

RALEIGH – Lt. Gov. Beverly Perdue told North Carolina electric cooperative leaders that the state must increase its defense industry sector and do more military research to protect and grow the state’s military economic impact.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it garnered record earnings for its second fiscal quarter ended March 31.

SANFORD – The Pantry, Inc. (Nasdaq:PTRY), the leading independently operated convenience store chain in the southeastern U.S., has announced that executive management has been invited to participate in the Goldman Sachs Fifth Annual Small-Cap Retail Conference being held in New York on Wednesday at 1:25 p.m.

RALEIGH – Gov. Mike Easley announced that Montgomery County and three other counties in North Carolina have been selected to participate in the 21st Century Communities program, an initiative led by N.C. Department of Commerce to foster economic growth in the state’s most distressed communities.

RALEIGH – First Citizens BancShares Inc. (Nasdaq: FCNCA) reports earnings for the quarter ending March 31 of $25 million, compared to $17.3 million for the corresponding period of 2004, an increase of 44.2 percent, according to Lewis R. Holding, chairman of the board.

RALEIGH - First Lady Mary Easley announced that North Carolina’s film, television and commercial production revenue remains the third highest in the United States, according to preliminary findings by the state Department of Commerce.

IRVING, Texas – Fayetteville State University, Sandhills Community College and St. Andrews Presbyterian College were among 33 colleges universities in North Carolina awarded grants through the ExxonMobil Foundation’s 2004 Educational Matching Gift Program.

CHAPEL HILL – A recent study conducted by Best Practices, LLC for members of its Business Excellence Board found that most companies expect e-based sales training to be a primary tool in the next couple of years as companies look to control spending and maximize their training efforts.

RALEIGH – A report released today outlines 10 steps to help dislocated workers in North Carolina survive their job losses, retool their skills and return to the marketplace.

CARY – Crescent Financial Corporation, parent company of Crescent State Bank, reported net income for the three-month period ended March 31 of $641,000 compared with $464,000 for the same period last year, representing a 38 percent increase in earnings.

LAURINBURG – The Scotland Health Care System Board of Trustees has approved the selection of R. J. Griffin & Company, a Charlotte general contractor, for the $6.4 million Emergency Center expansion project.

PITTSBORO – Chatham Marketplace, a co-op grocery currently owned by 600 area families, has signed a lease for 5,000 square feet of space in Chatham Mills and plans to open for business on Nov. 1.

ROCKINGHAM – Cascades Canada, Inc. today announced an expansion of the Cascades Moulded Pulp facility here that will result in a capital investment of $3 million and create 12 new jobs.

GREENSBORO – Carolina Bank Holdings, Inc., (Nasdaq: CLBH) has achieved its most profitable quarter in the company’s history.

PITTSBORO – Capital Bank has opened a new branch office at 37 Hillsborough Street in downtown Pittsboro and will offer a full array of financial and mortgage services

RALEIGH – Capital Bank Corporation (Nasdaq: CBKN), the parent company of Capital Bank, today reported that its first quarter 2005 earnings increased 12.7 percent to $1,555,000, compared to $1,380,000 for the first quarter of 2004.
Fully diluted earnings per share were 22 cents per share for the first quarter of 2005 versus 20 cents per share for the same period of 2004.

FAYETTEVILLE – Black & Decker Corp. announced today that it will close its power tools manufacturing plant in Fayetteville by December 2006, putting 675 people out of work.

PITTSBORO – Biolex, Inc., a privately held protein therapeutics company, has announced the issuance of a patent that broadly claims methods for immunizing a human or non-human animal against an antigen by administering an antibody produced by transgenic plants.

ATLANTA – Biolex, Inc. of Pittsboro and nine other North Carolina biotechnology companies will make presentations at the East Coast’s investor conference for venture stage biotechnology and healthcare firms in May.

WINSTON-SALEM – Retirement plan sponsors can turn to BB&T to meet new federal guidelines requiring automatic individual retirement account “rollovers” for departing employees with low balances.

WINSTON-SALEM – BB&T Corporation (NYSE: BBT) reported net income for the first quarter of 2005 totaling $395.4 million, or 71 cents per diluted share.

MOCKSVILLE – Bank of the Carolinas (Nasdaq: BCAR) has reported that net income for the first quarter of 2005 increased 37.6 percent to $450,000, or 14 cents per diluted share, compared to $327,000, or 13 cents per diluted share, for the first quarter of 2004.

CHARLOTTE – Bank of America Corporation today reported that first quarter net income rose to $4.7 billion, or $1.14 per diluted share, compared to $2.68 billion, or 91 cents per share, a year ago.

CHARLOTTE – The Bank of America Board of Directors has declared a regular quarterly dividend on common stock of 45 cents per share, payable on June 24 to shareholders of record on June 3.

PINEHURST – Business Innovation & Growth Council (BIG) is teaming with other entrepreneurial organizations around the state to support the Council for Entrepreneurial Development in its upcoming Angel Investor Retreat at Pinehurst Resort.

FAYETTEVILLE – Advanced Internet Technologies has developed technology to make it easier for businesses to bid on the $250 billion that the U.S. military spends each year with civilian contractors.

SANFORD – The North Carolina School of Telecommunications, a division of Central Carolina Community College, hosted an open house to celebrate its partnership with the North Carolina Telecommunications Industry Association, which moved its executive offices to the new $3.2 million NCST facility in the Lee County Industrial Park.

ASHEBORO – FNB Corp. (Nasdaq:FNBN), the holding company for First National Bank and Trust Company and Dover Mortgage Company, announced net income for the first quarter of 2005 increased to $2.306 million, or 40 cents per diluted share, from $1.952 million, or 33 cents per diluted share, in the same period of 2004.

FAYETTEVILLE – In an effort to enhance savings, efficiency and name recognition, the boards of the Cumberland County Business Council, Downtown Development Corporation, Fayetteville Area Chamber of Commerce and Fayetteville Area Economic Development Corporation voted today to unanimously approve a restructuring of the four organizations.