CHARLOTTE – Wachovia Corporation (NYSE: WB) announced the pricing of its previously announced concurrent offerings of $3.5 billion, or 145,833,334 shares of common stock, and $3.5 billion, or 3.5 million shares of Non-Cumulative Perpetual Convertible Class A preferred stock, Series L, with a liquidation preference of $1,000 per share.

CHARLOTTE – Wachovia Corporation (NYSE: WB) has announced a series of actions to further enhance its capital base and operational flexibility, and updated its credit reserve modeling to reflect greater emphasis on forecasted changes in customer behavior assuming continued house price depreciation.

RESEARCH TRIANGLE PARK – The Council for Entrepreneurial Development announced that North Carolina companies raised more than $900 million in venture capital investments in 2007, a 72 percent increase over 2006.

FAYETTEVILLE – While most of the national economic forecasts call for a recession later this year, many businesses have already seen a downturn in new customers and recurring business over the last six months.

RALEIGH – Visitors to North Carolina spent more than $16.5 billion in 2007, an increase of 7.2 percent from 2006. The amount was more than the previous record of $15.4 billion set in 2006. Employment in the travel and tourism industry for 2007 also saw an increase of 2 percent compared with the previous year.

SANFORD – The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., has released preliminary financial results for its second fiscal quarter ended March 27.

LAURINBURG – The U.S. Department of Housing and Urban Development recently announced that Training & Development Associates, Inc. would receive more than $4 million to improve the effectiveness and accessibility of HUD programs around the country.

RALEIGH – RBC Centura Bank announced that it will begin operating as RBC Bank following the change of its legal name to RBC Bank (USA), emphasizing the bank’s connection to its parent company as part of RBC’s global brand strategy and a message of overall stability and growth.

ROCKINGHAM – Former Cup driver Ricky Rudd will be the United Way of Richmond County/Fast Track High Performance Driving School “chauffeur” for the winner of the charity auction in conjunction with the Carolina 500.

DUNN – New Century Bank South has merged with New Century Bank, according to William L. Hedgepeth II, president and chief executive of New Century Bancorp (Nasdaq: NCBC), the holding company for both banks.

DUNN – New Century Bancorp (NASDAQ: NCBC), the holding company for New Century Bank, has announced a new board of directors and a new board chairman in the wake of the recent merger of New Century Bank South into New Century Bank.

RALEIGH – North Carolina will host the state's first Make Mine a Million $ Business event for women entrepreneurs.

WASHINGTON – Recession clouds appeared in the skies over Main Street, according to the most recent National Federation of Independent Business Small Business Economic Trends member survey.

RALEIGH – Lee County commissioners could avoid a proposed sales tax increase for six years by diverting $10.3 million in existing revenue streams to high-priority county government functions, according to a new John Locke Foundation Regional Brief.

RALEIGH – Small business owners and entrepreneurs have until April 30 to apply for the new North Carolina Green Business Fund grants.

SOUTHERN PINES – The Sandhills boasts 25 of the Top 100 golf courses in North Carolina, ranging from the legendary Pinehurst No. 2 in the top spot to the Holly course at Pinewild Country Club at No. 99, according to a published report.

ASHEBORO – The Department of Homeland Security has announced that Fox Apparel, Inc., a leading cut and sew contractor, is being awarded a $13,353,750 contract from the U.S. Coast Guard for Operational Dress Uniforms.

FOUR OAKS – Four Oaks Fincorp, Inc. (OTCBB: FOFN), holding company for Four Oaks Bank & Trust Company, has completed its acquisition of LongLeaf Community Bank, which had branches in Rockingham and Southern Pines.

ASHEBORO – FNB United Corp. (NASDAQ: FNBN), the holding company for CommunityONE Bank, N.A. and its wholly owned subsidiary, Dover Mortgage Company, reported first quarter profits for the period ended March 31.

TROY – First Bancorp (NASDAQ: FBNC), the parent company of First Bank, has completed its merger acquisition of Great Pee Dee Bancorp, Inc.

WAKE FOREST – Businesses today face many security threats that can adversely affect their operations – and their bottom line. Computer hackers, viruses, spyware and even employees can pose challenges that make security as essential as telephone and Internet service.

CARY – Crescent Financial Corporation (Nasdaq:CRFN), parent company of Crescent State Bank, announced unaudited net income for the quarter ended March 31 of $1 million, or 10 cents per diluted share, compared with $1,466,000, or 15 cents per diluted share, for the prior year quarter.

TROY – First Bancorp (NASDAQ: FBNC), the parent company of First Bank, has announced first quarter net income of $5,529,000, a 13.2 percent increase over the $4,886,000 recorded in the first quarter of 2007.

RALEIGH – IBM Lender Business Process Services, Inc., a wholly owned subsidiary of IBM, announced that Coastal Federal Credit Union has entered into a five-year contract whereby IBM will provide comprehensive private label mortgage loan fulfillment services.

WASHINGTON – Residents of Fayetteville and the surrounding nine-county area have the unique opportunity of helping the U.S. Census Bureau prepare for the 2010 Census.

SANFORD – A total of 69 applications from 31 states have been received for the position of the next president of Central Carolina Community College, and the school’s Presidential Search Committee will choose the semi-finalists this week.

ROCKINGHAM – The richest purse in ARCA RE/MAX Series history just got richer.

FAYETTEVILLE – Cape Fear Valley’s decision to affiliate with Cleveland Clinic for heart surgery is already paying dividends.

RALEIGH – The U.S. economy is in a recession that probably started in January. The National Bureau of Economic Research, which is a group of several economists, will look in their rear view mirror and let us know sometime this summer.

CHAPEL HILL – The Blue Cross and Blue Shield of North Carolina Foundation announced today that it is extending its partnership with the North Carolina Association of Free Clinics with an additional $10 million investment starting in 2009.

CHARLOTTE – AT&T Inc. has announced that it plans to invest more than $80 million in the North Carolina network this year to expand its wireless coverage.