Aquesta's total assets increased to $198.9 million at the end of 2011, compared to $195.5 million at Dec. 31, 2010, or an increase of 1.7 percent. Total loans decreased to $115.9 million, down 8.2 percent from $126.2 million at the end of 2010. Total deposits increased 4.2 percent to $157 million, up from $150.7 million at Dec. 31, 2010. Loan loss provisions in the fourth quarter of 2011 were $600,000 compared to the same quarter of 2010 provisions of $956,000. Allowance for loan losses were $1.8 million as of the end of 2011, compared to $1.2 million the year before.
"Aquesta Bank continues to see weak loan demand but good core deposit growth," said Jim Engel, CEO and president of Aquesta Bank, in last week's announcement. "The continued growth of core deposits is benefiting the bank through better interest margins. As noted in prior releases, Aquesta is well positioned for continued economic weakness but is also prepared to resume its prior growth pattern when the local economy improves.
"We are pleased that we have made substantial progress in reducing costs and further strengthening the balance sheet. While there are some signs of improvement in the local economy, we are committed to remaining conservative until the picture becomes clearer. Such conservatism should result in improved operating profits over time," Engel said.
Aquesta Bank, with branches in Cornelius, Davidson and two in Mooresville, is a commercial bank serving the Lake Norman market with a focus on small- to medium-sized businesses and professionals. Aquesta Bank's wholly owned independent insurance agency (Aquesta Insurance Services, Inc.) has offices in Cornelius, Concord, Mooresville and Wilmington.
For additional information, contact Kristin Parsons (executive vice president and chief financial officer) or Engel at 704-439-4343 or visit www.aquesta.com.
Coming soon to a raptor rehab near you
The Carolina Raptor Center in Huntersville will serve as one of 13 event venues recently named by the Charlotte in 2012 Host Committee for the Democratic National Convention.
The convention is scheduled to begin Sept. 4 at the Time Warner Cable Arena, and will culminate at Bank of America Stadium on Sept. 6, when President Barack Obama is expected to accept his party's renomination for the presidency.
But festivities will begin before then for the 6,000 delegates expected to attend the convention, as well as the estimated 15,000 members of the media in town to cover it all. The first event will be a media welcoming Saturday, Sept. 1, at the N.C. Music Factory, followed by at least a dozen different events throughout the region the following day.
The various venues selected by the host committee were announced earlier this week, a list comprised largely of Charlotte destinations except for the U.S. National Whitewater Center in Belmont, the Daniel Stowe Botanical Garden in Gaston County and the raptor center.
Party planners interested in bidding out their services for the convention's lead-up events can get more information by visiting www.CharlotteIn2012.com.
'White Glove' services for renters with LNR
A shift in the real estate market has led Lake Norman Realty to adjust and expand some of its services related to rental properties.
Abigail Jennings, president of Lake Norman Realty, says the company has expanded its rental and property management division to include rental concierge services for tenants as well as an in-house repair department — LNR Repairs — for handyman services.
"Due to the changing real estate market, more sellers have become landlords and more previous homeowners have become tenants," Jennings says, adding that her goal by broadening the company's offerings is to make the rental process as seamless as possible.
The expansion includes new hires Rod Hager and Adrienne Dalton. Hager will serve as leasing manager and Dalton will be the new customer care and applications coordinator.
The Rental Concierge Service includes the "White Glove" program, which ensures the home is thoroughly cleaned before move-in, information on renter's insurance, assistance with moving and relocation services, and a rebate for tenants who may ultimately purchase a home through Lake Norman Realty.
More information is available at www.lakenormanrealty.com or by calling 704-662-6049.
Building more than just local businesses
The Lake Norman Chamber of Commerce has partnered with Our Towns Habitat for Humanity and a variety of area businesses to fund and construct a new home for a deserving family in Cornelius, beginning in March.
A "Breakfast Before Hours" event will be held to celebrate the project Tuesday, Feb. 21, at 8 a.m., at the Our Towns Habitat offices (20310 N. Main St. in Cornelius). Participants will meet the new homeowners, view sponsor booths and displays and enjoy food and door prizes.
While several are already on board, sponsorships remain available and Wells Fargo Bank has agreed to match sponsorship amounts up to $20,000. For more details, contact Tammy Cox at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Parker named as CNIO for Rubbermaid brand
Rubbermaid Medical Solutions (RMS), based in Huntersville, has named Cheryl D. Parker, PhD, as the new chief nursing informatics officer. Parker will help develop new products and initiatives that reflect the current needs and trends in the healthcare industry.
RMS is the leading provider of clinical workstations and mobile computing solutions for healthcare facilities. Its products include ergonomically designed mobile computing carts, medication carts and wall-mounted workstations. RMS is part of Newell Rubbermaid's global brand portfolio.
Convention planner to speak next week
The Charlotte chapter of the National Association of Women Business Owners (NAWBO) will host Mary Tribble, chief of event planning for this year's Democratic National Convention in Charlotte.
Tribble, founder of the Tribble Creative Group as well as the N.C. Conference for Women, will discuss her significant entrepreneurial experience as well as her role in planning for the upcoming DNC.
The event takes place Tuesday, Feb. 7, from 5:30 to 7:30 p.m., at Byron's South End in Charlotte (101 W. Worthington Ave., No. 110), and will include networking time and dinner. Reservations can be made online at www.NAWBOCharlotte.org through Friday, Feb. 3, or call 704-367-3454 for more information.
Biz networking is club's new racket
The owners of Charlotte Racquet Club North will sponsor a business networking connection event Tuesday, Feb. 7, from 7:30 to 8:30 a.m., designed to help others grow their business or find new opportunities through networking.
The target audience is small business owners, those currently looking for employment and those interested in doing business with someone they know. Admission is free, and coffee and snacks will be provided. To RSVP, send an e-mail to the club's pro shop at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Charlotte Racquet Club North is just south of Huntersville, at 9300 Browne Road. For more information, call the club at 704-947-7770.
