CHARLOTTE – Wachovia Corp. (NYSE: WB) today reported record net income of $1.67 billion, or a record $1.06 per share, in the third quarter of 2005 compared with $1.26 billion, or 96 cents per share, in the third quarter of 2004.

CHARLOTTE – Wachovia Corporation (NYSE: WB) has announced that its board of directors approved the company’s regular quarterly cash dividend on its common stock of 51 cents per share.

RANDLEMAN – The PGA Tour’s swing through Greensboro over the weekend resulted in a $50,000 donation to the Victory Junction Gang Camp.

WASHINGTON -- The United States Chamber of Commerce brought together lawmakers, leaders from corporate America, and education professionals to kick off the 2005 Business Education Network (BEN) Summit in Washington, part of an aggressive new initiative to increase the business community's involvement in education reform.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has executed a new gasoline branding and supply agreement with ExxonMobil Oil Corporation.

RALEIGH – When it comes to innovation, an inventive spirit and small business success, North Carolina scores well compared to other states, according to new research by Entrepreneur Magazine and the National Policy Research Council.

GREENSBORO – Carolina Bank, a wholly-owned subsidiary of Carolina Bank Holdings, Inc. (Nasdaq: CLBH) announced that shareholders of record as of Nov. 15 will receive a 6-for-5 stock split effected in the form of a 20 percent stock dividend.

ASHEBORO – Gov. Mike Easley today announced that StarPet, makers of polymer resins used in food and beverage packaging, will expand its facility in Asheboro, creating 40 new jobs and investing $44 million during the next three years.

RALEIGH – Progress Energy (NYSE: PGN) has announced that third-quarter ongoing earnings increased to $359 million, or $1.44 per share, up from $234 million, or 96 cents per share, for the same period last year.

SANFORD – The Pantry, Inc. (Nasdaq:PTRY), the leading independently operated convenience store chain in the southeastern U.S., today summarized the support it has provided to date to employees and their communities in the areas that were affected by Hurricane Katrina.

SANFORD – The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has amended and extended its gasoline supply agreement with Citgo Petroleum Corporation.

MOUNT GILEAD – McRae Industries, Inc. (Amex: MRI.A; MRI.B) reported consolidated net revenues from continuing operations for the fourth quarter of fiscal 2005 of $13,677,000, compared to $21,993,000 for the fourth quarter of fiscal 2004.

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 third quarter of 2005.

RALEIGH – First Citizens BancShares Inc. (Nasdaq: FCNCA) reports earnings for the quarter ending Sept. 30 of $30 million, compared to $16.9 million for the corresponding period of 2004, an increase of 77.6 percent.

CARY – Crescent Financial Corporation (Nasdaq: CRFN), the holding company for Crescent State Bank, has announced that it has entered into an underwriting agreement with Ryan Beck & Co., Inc. for the sale of 805,000 shares of common stock at a price of $15 per share, an increase of 40,000 shares over the original size of the offering announced on Sept. 12.

CARY – Crescent Financial Corporation (Nasdaq: CRFN), parent company of Crescent State Bank, reported unaudited net income for the three-month period ended Sept. 30 of $845,000 or 19 cents per diluted share, compared to $661,000 or 15 cents per diluted share for the three-month period ended Sept. 30, 2004, an increase of 26.7 percent on a per-share basis.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it expects fiscal 2005 earnings per share to substantially exceed its previous guidance.

GREENSBORO – Carolina Bank Holdings, Inc., (Nasdaq: CLBH) announces third quarter earnings results. The company also reports an improvement in its loan quality.

RALEIGH – Capital Bank Corporation (Nasdaq: CBKN), the parent company of Capital Bank, has reported that its third quarter 2005 net income was $1.7 million, compared to $1.6 million for the third quarter of 2004.

SANFORD – The North Carolina Military Business Center is co-hosting a one-day expo for North Carolina-based general contractors

MOCKSVILLE – Bank of the Carolinas (Nasdaq: BCAR), which has branches in Asheboro and Carthage in the Sandhills, has reported financial results for the three- and nine-month periods ended Sept. 30.

CHARLOTTE – Bank of America (NYSE: BAC) today announced that it has once again been named the top Small Business Administration lender in the nation, issuing 11,911 SBA 7(a) loans totaling $412.7 million to entrepreneurs during the 2005 SBA fiscal year, which runs from Oct. 1 to Sept. 30.

CHARLOTTE – Bank of America Corporation (NYSE: BAC) has reported that third quarter net income rose 10 percent to $4.13 billion from $3.76 billion a year earlier. Per share earnings increased 12 percent to $1.02 per share (diluted) from 91 cents per share. Return on average common equity in the third quarter was 16.33 percent.

CHARLOTTE – The Bank of America Board of Directors has declared a regular quarterly cash dividend on common stock of 50 cents per share, payable on Dec. 23 to shareholders of record on Dec. 2.

PITTSBORO – Biolex Therapeutics, a protein therapeutics company, today announced the successful completion of a Phase 1 clinical trial of BLX-883, a form of alfa interferon.

PITTSBORO – Biolex Therapeutics, a protein therapeutics company, and Kringle Pharma, Inc., a biopharmaceutical company developing cancer therapeutics, have formed a collaboration under which Biolex will use its LEX System for protein expression to create a commercial line for Kringle’s NK4 protein.

WINSTON-SALEM – BB&T Corporation (NYSE: BBT) reported today third quarter net income totaling $442 million, or 80 cents per diluted share.

CHARLOTTE -- Wachovia announced that it has launched Wachovia Direct Pay(R), a Visa-branded prepaid debit card that provides employers an additional option for increased participation in payroll direct deposit. Employers can electronically deposit employees' net pay and other payroll-related funds to the card via ACH. The employees/cardholders can then use the card to access their net pay at ATMs and merchant locations.

CHARLOTTE – The U.S. Small Business Administration approved 28 percent more loans in North Carolina in Fiscal 2005 than in Fiscal 2004, marking the third year in a row that the SBA has set a loan record in the state.

CHARLOTTE -- Piedmont Natural Gas (NYSE: PNY) called on Congress today to help low-income Americans cope with significant increases expected in the cost of home heating fuels this winter by appropriating increased funding for the federal Low-Income Home Energy Assistance Program (LIHEAP).

CARY -- Crescent Financial Corporation ("Crescent") (Nasdaq: CRFN), the holding company for Crescent State Bank, announced that its common stock has been approved for listing on the Nasdaq National Market. The Company expects the move of its common stock from the Nasdaq Capital Market (formerly known as the Nasdaq SmallCap Market) to the Nasdaq National Market to be effective at the open of trading on October 10, 2005. Crescent's common stock will continue to trade under its current symbol "CRFN" following the move to the Nasdaq National Market.

CHARLOTTE -- Bank of America announced a $100 million Community Development Banking goal to rebuild affordable housing and revitalize neighborhoods in Gulf Coast areas devastated by Hurricanes Katrina and Rita. The bank will target loans and investments to address the need for affordable housing in the areas affected by the storm.

CHARLOTTE -- This week, Blue Cross and Blue Shield of North Carolina (BC/BS of NC), in a move that places them alone in the insurance world, will eliminate a key patient reimbursement category. This move is one of the first, and perhaps the only, denial of reimbursement for the in-home use of continuous passive motion (CPM) machines in the United States. CPM usage works to speed recovery from knee surgery. In so doing, BC/BS of NC will be denying physician wishes and patient recovery benefits.

CHAPEL HILL -- Blue Cross and Blue Shield of North Carolina (BCBSNC) today announced that Carolina Parent has designated it as one of the state's top 40 family-friendly companies. In its September issue, Carolina Parent released a salute to its "Family-Friendly 40" list. BCBSNC was one of this year's 40 designees, an honor the company received for the sixth consecutive year.