CHARLOTTE – Wachovia Corp. (NYSE: WB) today reported net income of $2.3 billion, or $1.20 per share, in the first quarter of 2007, compared with $1.73 billion, or $1.09 per share, in the first quarter of 2006.

CHARLOTTE – Wachovia Corporation (NYSE: WB) today announced that its board of directors approved the company’s regular quarterly cash dividend on its common stock of 56 cents per share.

PINEHURST – FirstCarolinaCare joins numerous health-care organizations and foundations across the nation to increase the awareness of the plight of the uninsured during Cover the Uninsured Week 2007, which began yesterday.

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 66 Petro Express convenience stores in North and South Carolina from Petro Express, Inc.

WASHINGTON – Governors in six states, including North Carolina, have recommended that their state adopt a key reform to outlaw a variety of abusive income-tax-avoidance strategies practiced by corporations such as Wal-Mart, according to a new report by The Center on Budget and Policy Priorities.

CARY – The Board of Directors of Crescent Financial Corporation (NASDAQ: CRFN), parent company of Crescent State Bank and Port City Capital Bank, has declared an
11-for-10 stock split effected as a 10 percent stock dividend.

DUNN – John Q. Shaw, Jr., who had served as chief executive officer of New Century Bancorp since its inception in 2000, announced his retirement last week.

WASHINGTON – One of the federal government’s best websites for small businesses just got better.

WASHINGTON – The U.S. Small Business Administration recently introduced a new online training resource for budding entrepreneurs to provide the fundamentals of starting a small business.

SANFORD – The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern United States, today announced that Daniel J. Kelly, its Vice President, Finance, Chief Financial Officer and Secretary, notified the Board of Directors of The Pantry, Inc. (the “Company”) that he intends to resign from his positions with the Company.

CHARLOTTE – North Carolina business executives expect improved company performance in the coming year and are optimistic about the state’s economy, according to a survey by KPMG LLP.

LAURINBURG – Recognizing the past and reviewing the present at St. Andrews Presbyterian College, new college president Paul Baldasare says it is time for the college to chart its course for the future.

PITTSBORO – The Chatham County Economic Development Corporation announced today that it has hired Dianne Reid to fill the executive director position vacant since Tony Tucker retired last fall.

DUNN – New Century Bancorp (NASDAQ: NCBC) will file its annual report on Form 10-K on or before the extension deadline tomorrow, reporting $3.97 million in net income for the year ended Dec. 31.

ASHEBORO – FNB United Corp. (NASDAQ: FNBN), the holding company for First National Bank and Trust Company and Dover Mortgage Company, today reported that net interest income increased 57 percent and its loan portfolio increased 63 percent in the first quarter ended March 31, compared to the same period the prior year.

RALEIGH – First Citizens BancShares Inc. (NASDAQ: FCNCA) reports earnings for the quarter ending March 31 of $29 million, compared to $28.7 million for the corresponding period of 2006.

TROY – First Bancorp (NASDAQ: FBNC), the parent company of First Bank, has announced net income of $4,886,000, or 34 cents per diluted share, for the three months ended March 31.

CARY – Crescent Financial Corporation (NASDAQ: CRFN), parent company of Crescent State Bank and Port City Capital Bank, today announced unaudited net income for the quarter ended March 31 of $1,466,000, reflecting a 49 percent increase over net income of $982,000 for the prior year quarter.

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 11 convenience stores in the Spartanburg, South Carolina market from Willard Oil Company, Inc.

SANFORD – The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that total revenues for the second quarter ended March 29 were approximately $1.5 billion, a 10.7 percent increase from last year’s second quarter.

FAYETTEVILLE – The opening of a Local Census Office this week in Fayetteville, marks the beginning of a recruiting effort to hire nearly 3,000 part-time workers for the 2008 Census Dress Rehearsal.

FAYETTEVILLE – Cape Fear Valley Medical Center is one of only 86 hospitals in the nation rated in the Top 5 percent for both clinical excellence and patient safety.

NEW YORK – Fitch Ratings has assigned an “AAA” rating to the State of North Carolina's $84.9 million general obligation (GO) refunding bonds, series 2007B.

RANDLEMAN – In conjunction with last weekend’s Nextel Cup race at Martinsville Speedway, Jimmie and Chandra Johnson unveiled Jimmie Johnson’s Victory Lanes at the Victory Junction Gang Camp, the first major initiative for the Jimmie Johnson Foundation.

ASHEBORO – The Boards of Directors of Bank of the Carolinas Corporation, Mocksville, North Carolina (Nasdaq: BCAR) and Randolph Bank & Trust Company (Pink Sheets: RDBN) have announced that they have entered into a definitive agreement whereby Randolph Bank will be merged into Bank of the Carolinas.

FAYETTEVILLE – Gov. Michael Easley selected the BRAC Regional Task Force’s WIRED grant application as one of two that will be submitted to the U.S. Department of Labor for a competitive grant opportunity.

WASHINGTON – Database support services worth nearly a half million dollars became the first task order awarded against a small business set-aside contract for service-disabled, veteran- owned small technology firms, the U.S. General Services Administration announced today.

RESEARCH TRIANGLE PARK – The Council for Entrepreneurial Development has launched an Internet television show featuring conversations with innovators, entrepreneurs and investors from across the region.