CHARLOTTE – Wachovia has earned an “outstanding” Community Reinvestment Act rating – the highest possible – from the Office of the Comptroller of the Currency.

CHARLOTTE – Wachovia Corp. (NYSE: WB) today reported record net income of $1.65 billion, or a record $1.04 per share, in the second quarter of 2005, compared with $1.25 billion, or 95 cents per share, in the second quarter of 2004.

BEDMINSTER, N.J. – Verizon Wireless announced today that it has completed the purchase, initially announced in January, of spectrum licenses in Fayetteville and nine other North Carolina markets from Urban Comm-North Carolina for $68.5 million.

RALEIGH – Following the successful debut of iobi Home in May, Verizon today launched iobi Professional for small businesses in North Carolina.

RALEIGH – Business and industries in the 13 counties that comprise the Research Triangle Regional Partnership have a new resource to help them compete – an interactive CD and Web portal.

RALEIGH -- For the second sweltering day in a row, Progress Energy Carolinas customers set a record for peak electricity usage Wednesday. In fact, customer electricity usage July 27 set an all-time 24-hour record.

RALEIGH -- Progress Energy (NYSE: PGN) today reported ongoing earnings of $155 million, or $0.63 per share, for the second quarter of 2005 compared with ongoing earnings of $185 million, or $0.76 per share, for the second quarter of 2004. Reported consolidated net loss under generally accepted accounting principles (GAAP) was $1 million, or $0.01 per share, for the quarter compared with reported consolidated net income of $154 million, or $0.63 per share, for the second quarter of 2004. See the table that follows for a reconciliation of ongoing earnings per share to GAAP earnings per share.

DUNN – The Board of Directors of New Century Bancorp (OTC Bulletin Board: NCBC) has unanimously approved a three-for-two stock split to be effected in the form of a 50 percent stock dividend, according to President and CEO John Q. Shaw.

ASHEBORO – FNB Corp. (Nasdaq: FNBN) today announced it joined the Russell Microcap Index.

ASHEBORO – FNB Corp. (Nasdaq: FNBN), the holding company for First National Bank and Trust Company and Dover Mortgage Company, has announced its financial results for the second quarter of 2005.

ASHEBORO – The board of directors of FNB Corp. (Nasdaq: FNBN) has renewed its annual authorization to repurchase up to 300,000 shares, or approximately 5 percent of the company’s 5.61 million outstanding shares, during the period commencing Aug. 1 and ending July 31, 2006.

RALEIGH -- First Citizens BancShares Inc. (Nasdaq: FCNCA) reports earnings for the quarter ending June 30, 2005, of $30.1 million compared to $15.9 million for the corresponding period of 2004, an increase of 89.5 percent, according to Lewis R. Holding, chairman of the board.

TROY -- First Bancorp (Nasdaq: FBNC), the parent company of First Bank, announced net income of $4,652,000, or $0.32 per diluted share, for the three months ended June 30, 2005. The 2005 earnings represent a 4.8% decrease in net income and 5.9% decrease in diluted earnings per share compared to the earnings of $4,886,000, or $0.34 per diluted share, reported for the second quarter of 2004.

CARY – Crescent Financial Corporation (Nasdaq: CRFN), the holding company of Crescent State Bank, announced unaudited net income for the quarter ended June 30 of $653,000, an increase of 26 percent over the $519,000 for the comparative period ended June 30, 2004.

DUNN – South River Electric Membership Corporation crews have headed to Andalusia, Ala., with six cooperative vehicles to help Covington Electric Cooperative restore power after Hurricane Dennis.

CHARLOTTE -- The nation's largest wireless voice and data network is getting larger in North Carolina. Cingular Wireless plans to invest more than $115 million this year in its North Carolina network increasing coverage and capacity, adding new cell sites, portable generators and back-up batteries, and rolling out new data features. This local investment is part of Cingular's estimated $6.2 billion national network capital expenditure program this year.

RALEIGH – Capital Bank Corporation (Nasdaq: CBKN), the parent company of Capital Bank, today reported that its second quarter 2005 net income increased approximately 80 percent to $1,603,000, compared to $891,000 for the second quarter of 2004.

MOCKSVILLE – Bank of the Carolinas (Nasdaq: BCAR) has reported financial results for the three- and six-month periods ended June 30.

CHARLOTTE – Bank of America’s online customers in North Carolina, South Carolina and Georgia have a new way to help prevent fraud and identity theft with the launch this week of an industry-leading protection service with their Online Banking.

CHARLOTTE – Bank of America Global Treasury Services announced today that it will offer Health Savings Accounts to the commercial marketplace in time for this fall’s benefits enrollment cycle.

CHARLOTTE – Bank of America Corporation today reported that second quarter net income rose 12 percent to $4.3 billion from $3.85 billion a year earlier.

WINSTON-SALEM – BB&T Corporation (NYSE: BBT) reported today second quarter net income totaling $386.8 million, or 70 cents per diluted share.

COLUMBUS, Ohio -- A new survey shows 36 percent of identity theft victims in Charlotte, Raleigh, and Greensboro, North Carolina indicate they have not been able to restore their identities, despite averaging more than a year trying. Results of a consumer survey by Nationwide Mutual Insurance Co., also shows one in five were forced to pay for some or all of the thief's purchases.