Business roundup: Ippolito, Rowan Neurology join Presbyterian Novant
Presbyterian Novant Medical Group has added Dr. Mark R. Ippolito and Rowan Neurology to its network of physicians.
As the recent founder of Rowan Neurology, Ippolito brings more than 16 years of clinical training and practice experience to the Salisbury area.
Rowan Neurology is located at 911 W. Henderson St., Suite 120, on the first floor of the Kiser Medical Office Building, which is adjacent to the emergency department of Rowan Regional Medical Center.
Call 704-637-1779 for more information on Ippolito and his new practice.
Board-certified in neurology, clinical neurophysiology, electrodiagnostic medicine and sleep medicine, Ippolito is trained to handle epilepsy, neuromuscular diseases, movement disorders, multiple sclerosis, dementia and more.
He also offers in-office diagnostic testing, including electroencephalogram, electromyogram and nerve conduction studies.
Ippolito received his medical education at the State University of New York at Buffalo School of Medicine and Biomedical Sciences, and he had an internship and residency at the National Naval Center followed by a clinical neurophysiology fellowship at Walter Reed Army Medical Center in Washington, D.C. He lives in Davidson with his wife and three children.
Food Lion renovates 38 stores in region
Food Lion held ribbon-cutting “reintroduction” ceremonies recently at 38 remodeled stores in Maryland, North Carolina, Pennsylvania, South Carolina and Virginia, according to a report by Progressive Grocer.
The stores remained open during the remodeling process.
Food Lion in on $50,000 giveaway
Louisburg resident Debby Myatt will donate $50,000 in sweepstakes winnings from General Mills, Food Lion and Box Tops for Education to Edward Best Elementary School.
With 520 students, Edward Best will get a new playground and supplies.
“When I found out about the sweepstakes, I shopped at Food Lion almost every day,” said Myatt said.
Food Lion ran General Mills’ Box Tops for Education sweepstakes in its stores last fall, announcing to customers that the school of their choice could be the recipient of a $50,000 check. Before this sweepstakes, Edward Best Elementary had earned a total of $1,391 since 2002.
“Food Lion is committed to the communities we serve and to education,” said Kyna Foster, Food Lion’s director of community affairs and customer relations. “This program helps to provide schools with essential tools for learning, and we are always happy to partner with General Mills in this effort.”
The Box Tops for Education program has helped schools earn more than $250 million over the past 12 years. Volunteer Box Tops Coordinators encourage families and individuals to participate in the program through buying groceries featuring the Box Tops coupons that are worth 10 cents each.
The program began in 1996 as schools struggled to make ends meet. Schools can earn up to $60,000 per year.
First Bancorp profit in fourth quarter
TROY ó First Bancorp, the parent company of First Bank, recently reported profits despite recent trends in the financial sector.
Fourth-quarter net income was just over $5 million, or 30 cents per share, compared to $5.76 million, or 40 cents per share in 2007, a decrease of 25 percent in earnings per share.
Net income for 2008 was $22 million, or $1.37 per share, compared to net income of $21.8 million, or $1.51 per share in 2007, a decrease of 9.3 percent in earnings per share.
The 2008 results reflect a return on average assets of 0.76 percent and a return on average equity of 8.85 percent.
“In light of the current economic environment, I am pleased with the results we are reporting,” said First Bancorp Chief Executive Officer and President Jerry Ocheltree. “We remain a profitable and sound institution, with $22 million in earnings for the year and asset quality that compares favorably to that of our peers.”
First Bancorp reported total assets of $2.8 billion, an 18.7 percent increase over the past year. Loans amounted to $2.2 billion, up 16.7 percent, and deposits amounted to $2.1 billion, a 12.9 percent increase from a year earlier.
Reese takes position at CommunityOne
CommunityOne Bank has named Robert Reese as community office manager of the bank’s office on Jake Alexander Boulevard in Salisbury.
Prior to joining CommunityOne, Reese was a branch manager for SunTrust Bank in Concord.
Skip Wood, regional president for CommunityOne, said, “His enthusiasm and experience will help CommunityOne meet our goal of becoming the best community bank in our market.”
Reese, a native of Cabarrus County, received a bachelor’s degree from the University of North Carolina at Chapel Hill. He is a member of the Cabarrus County Chamber of Commerce and was previously a member of the Southwest Cabarrus Rotary Club. While at UNC, Reese was a member of Phi Beta Kappa and the Golden Key National Honor Society.
Reese and his wife, Stephanie, live in Concord with their daughter, Lauren.
CommunityOne Bank parent reports loss
ASHEBORO ó FNB United Corp., the holding company for CommunityOne Bank, N.A., and its wholly owned subsidiary, Dover Mortgage Co., reported that after a $14.3 million addition to the allowance for loan losses, it had a net loss of $3.9 million, or 34 cents per diluted share for the fourth quarter of 2008.
That compares to net income of $1.3 million, or 11 cents per diluted share, for the fourth quarter of 2007.
FNB United recorded a net loss of $3.2 million, or 28 cents per diluted share, for the full year, compared to net income of $12.4 million, or $1.09 per diluted share, in 2007.
The full-year results included a $26.5 million provision for loan losses and a $1.8 million goodwill impairment writeoff during the second quarter of 2008.
FNB United has determined that a further writeoff for goodwill impairment may be warranted and is currently evaluating its goodwill to determine the extent of additional impairment. These reported results do not include any impairment that may be recorded.
“2008 presented challenges for FNB United as well as for the entire banking industry,” said Michael C. Miller, president and chief executive officer. “FNB United, as a community banking organization, is reflective of the markets it serves. The strains in the financial and housing markets locally and nationwide continued to present a challenging environment for FNB United in the fourth quarter.
“Although we anticipate that credit costs will remain elevated well into 2009, we believe our revenue generation and operating results will be sufficient to grow and improve our banking franchise.”
Link joins Gentiva Health Services
Gentiva Health Services in Salisbury has announced that Marti Link is back in Salisbury as director of clinical operations and service.
Link has many years experience in the home care field and has been with Gentiva for four years. She came to Gentiva as a board-certified wound, ostomy, continence nurse specialist and was promoted to a clinical director over a year ago.
Home Instead caregiver honored
Beverly Sloan has been named Caregiver of the Month for January at Home Instead Senior Care, 625 W. Innes St.
The award is given to an employee who goes above and beyond the call of duty in caring for seniors. Sloan joined the Salisbury business in March 2007.
“Not only is she a great person, but a wonderful caregiver,” said Mona Knight, staffing coordinator for Home Instead Senior Care. “She has a special gift when it comes to being able to relate and care for her clients. She provides excellent care to our clients.”
Sloan is originally from Salisbury and Spencer and has four grown children ó two who live nearby and twin boys who serve in the military, one in Japan with the Air Force and one in Hawaii with the Navy ó and four grandchildren. She has been a nursing assistant and is working on becoming certified again. She is a member of Dorsett Chapel in Spencer.
S&D Coffee marks Davis’ 50th year
CONCORD ó S&D Coffee Inc. recently marked Chairman Emeritus James Roy Davis Jr.’s 50 years with the company.
Nearly 500 Concord-based employees and retirees, as well as family and friends of Davis, attended a luncheon in his honor at the company’s headquarters in December.
During his career, Davis transformed a small business started by his father, Roy Davis Sr., and partner Lawrence Switzer into one of the nation’s leading coffee roasters and the largest supplier of iced tea to the food service industry.
The younger Davis joined the company in 1958 and became president in 1965. That same year, S&D made the first of many acquisitions that would help drive the company’s growth. Under Davis’ leadership, S&D Coffee began importing premium coffee beans to produce restaurant blends, officially shifting market focus from retail to restaurants, hospitals and institutions.
Davis would continue to lead the company in expanding service lines, products and roasting capabilities until 2000, at which time he appointed Ron Hinson as president and chief executive officer and his sons, Alan and Rhyne Davis, as co-chairmen of the board of directors.
“Without a doubt, Roy played a pivotal role in transforming a first generation small family business into a nationally recognized food service supplier,” Hinson said. “His vision and strategic decision-making have made S&D what it is today.”
Davis has served on the board of trustees for Salem College and the boards of directors for both Barium Springs Home for Children and Big Brothers Big Sisters-Charlotte Chapter.
He is a past chairman of Concord School System’s Board of Education.
In the business community, Davis been a chairman of First Charter Corp. and president of the Cabarrus Chamber of Commerce. He received the chamber’s highest honor, the Cabarrus County Chamber of Commerce Lifetime Achievement Award in 2004.
Davis was instrumental in establishing Concord Regional Airport. He plays an active role on the board of directors of the National Coffee Association.
Davis graduated from Davidson College and served as a lieutenant in the U.S. Navy. He and his wife, Sue Jones Davis, live in Concord. They take an active role in local philanthropy and are members of First Presbyterian Church.
Poteat leads Rowan Mutual Fire InsuranceRowan Mutual Fire Insurance Co. met Jan. 17 and elected Larry A. Poteat as president; Carl H. Goodman, vice president; Clyde S. Lippard Jr., secretary/treasurer; and Rhonda F. Smith, assistant secretary/treasurer.
Poteat, Goodman and Lippard were also elected directors, along with David Corriher, Carl Brown, Mary Lou Howe, Jerry Waller, Patsy Sexton, Jewell Alley, Tom Snider and Jerry Sides.
The board of directors voted to keep rates the same as the last 12 years. The company is in its 107th year of serving Rowan County.
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