Archive - Apr 27, 2011 - News Article
A passenger in a fatal accident was released from the hospital.
Michael Brandon Davis, 18, of Denver, was released from Carolinas Medical Center in Charlotte on Tuesday night. Davis was a back-seat passenger in a single-car accident early Tuesday morning that killed 17-year-old Jordan Bone, of Sherrills Ford.
Davis was ejected from the vehicle after driver 20-year-old Tyler Scott Good, of Newton, was going about 70 mph on Mt. Beulah Road in Sherrills Ford at 3:48 a.m. Tuesday. The speed limit is 45 mph on the road.
Maiden and Newton firefighters worked to extinguish a fire at a two-story storage building Wednesday.
Maiden assistant fire chief Tracy Caldwell said Maiden firefighters arrived at 1109 Zeb Haynes Road in Maiden at 3:10 p.m. to a storage outbuilding on fire. Caldwell said Maiden firefighters, with the help of Newton firefighters, had the structure fire extinguished in 15 minutes.
Caldwell said the fire started on the second-story of the storage building, which stored household items.
After struggling in recent years, a pair of North Carolina banks with more than two centuries of combined service are merging.
News of the merger came just ahead of a Department of Justice announcement that the future banking brand for both financial institutions agreed to pay a $400,000 restitution settlement after it failed to detect a $40-million Ponzi scheme operated through its accounts.
Court documents released Wednesday reveal that during the past two years CommunityOne Bank experienced more than $283 million in losses that brought it to the brink of failure.
Further, the bank's accounts were utilized in a $40-million Ponzi securities fraud and money laundering scheme.
That left the Asheboro-based bank with few choices for survival: raise new capital, sell or merge.
In the end, the bank did all three.
ASHEBORO, N.C. â€” CommunityOne Bank and Bank of Granite have announced plans to merge, creating a financial network with more than $5 billion in deposits and assets.
Bank of Granite Chairman John Bray said Wednesday the merger of the two North Carolina banks will provide a stronger financial position and improve customer service.
Bank of Granite was founded in 1906 and has branches throughout western North Carolina. CommunityOne was founded in 1907 and serves communities in central, southern and western North Carolina.