CHARLOTTE – Verizon Wireless announced today that over $146 million was invested in 2006 to enhance and improve the company’s voice and data wireless network across North Carolina, increasing the company’s six-year investment to over $531 million.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire 24 Sun Stop convenience stores in Florida, Georgia and Alabama from Southwest Georgia Oil Company, Inc.

RALEIGH – Progress Energy (NYSE: PGN) has announced the pricing terms for its previously announced tender offer for up to $550 million aggregate principal amount of its outstanding 7.10 percent senior notes due.

RALEIGH – Progress Energy’s (NYSE: PGN) board of directors has approved a plan to pursue the disposition of substantially all of Progress Ventures Inc.’s Competitive Commercial Operati

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 previously disclosed acquisitions of eight convenience stores in Mississippi and Florida.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has signed a definitive agreement to acquire eight convenience stores in Gainesville and Ocala, Fla., from Rousseau Enterprises, Inc.

MOUNT GILEAD – McRae Industries, Inc. (OTC Pink Sheets: MRINA; MRINB) reported consolidated net revenues for the first quarter of fiscal 2007 of $17,565,000, compared to $18,560,000 for the first quarter of fiscal 2006.

MOUNT GILEAD – McRae Industries, Inc. (Pink Sheets: MRINA) declared a dividend of 8 cents per share on the company’s Class A Common Stock payable on Dec. 29 to shareholders of record on Dec. 15.

TROY – First Bancorp (Nasdaq: FBNC) announced that James H. Garner, president and chief executive of First Bancorp and chief executive of First Bank, intends to retire as an employee and director of the company effective Dec. 31.

ASHEBORO – FNB United Corp. (NASDAQ: FNBN) announced that it will restate its historical financial statements for the quarter and nine months ended Sept. 30.

ASHEBORO – The Board of Directors of FNB United Corp. (NASDAQ: FNBN) has declared a regular quarterly dividend of 15 cents per share, which is the same rate as paid in the prior quarter.

PINEHURST – Effective Jan. 1, FirstCarolinaCare will expand the definition of “dependent” in its health benefit plans to include children up to 26 years of age, regardless of their full-time student status.

TROY – The Board of Directors of First Bancorp (Nasdaq: FBNC), the parent company of First Bank, has declared a cash dividend of 19 cents per share payable Jan. 25 to shareholders of record as of Dec. 31.

FAYETTEVILLE – E85, Inc. announced today that it has taken an option on land owned by Dr. Franklin Clark in Cumberland County for the development of a state-of-the-art ethanol production plant that will annually produce 100 million gallons.

FAYETTEVILLE – Cape Fear Valley Health System and the Cape Fear Valley Health Foundation have received a $240,000 grant from The Duke Endowment to initiate a program to provide high quality health care, education, and support services to diabetes patients.

FAYETTEVILLE – The Defense and Security Technology Accelerator announced that seven companies have been selected to be the first clients of the newly opened business incubator.

LAURINBURG – John Deegan, Jr., president of St. Andrews Presbyterian College in Laurinburg, has resigned, citing differences of opinion regarding how to achieve priorities with the college’s board as his reason.

RALEIGH – Progress Energy’s (NYSE: PGN) board of directors has increased the dividend on the company’s common stock for the 19th straight year.

SANFORD – Tenet Southern States announced that Doug Doris has been named chief executive officer of Central Carolina Hospital, a 137-bed acute care facility in Sanford.

RALEIGH – Capital Bank Corporation (NASDAQ: CBKN) announced that its board of directors has approved a quarterly cash dividend on its common stock of 6 cents per share.

RAMSEUR – Brisco Apparel Company has purchased the former Ramseur Interlock Knitting plant and will relocate its operations there from Brooklyn, New York.

WINSTON-SALEM – BB&T Corporation (NYSE: BBT) has marked its entry into NASCAR by announcing a two-year agreement to be the official bank of Richard Childress Racing and the primary sponsor of the No. 2 Chevrolet Monte Carlos driven by Clint Bowyer in the Busch Series.

WINSTON-SALEM – The board of directors of BB&T Corporation (NYSE: BBT) has declared the 2007 first quarter dividend of 42 cents per share, a 10.5 percent increase over the 38 cents paid in the first quarter of 2006.

RALEIGH – BB&T Asset Management is now offering a broader range of alternative investment strategies to the bank’s Wealth Management and Institutional Services clients.

LAURINBURG – Paul Baldasare, a 1977 graduate of St. Andrews Presbyterian College, has been named the eighth president for the college.

RALEIGH – North Carolina’s Identity Theft Protection Act celebrated its first anniversary on Dec. 1, but the vast majority of companies across the state still have not developed nor implemented the written identity theft protection policies the law requires, according to an attorney.

SANFORD – Central Carolina Community College has reached a milestone: More students are enrolled now than have ever been enrolled for any semester in the college’s 44-year history.