Piedmont Advantage acquires credit union

Piedmont Advantage Credit Union of Winston-Salem has agreed to acquire Fayetteville Postal Credit Union after gaining member approval on Wednesday.

Piedmont has $358 million in total assets, while Fayetteville has $7.6 million.

Fayetteville Postal Credit was founded in 1928, making it one of the oldest credit unions in North Carolina. Piedmont serves 39,761 members.

Richard Craver

Ala. furniture group buys High Point properties

Gabriella White LLC, parent company to luxury indoor and outdoor furniture brands Summer Classics, Gabby and Wendy Jane, has purchased eight properties in the High Point Market’s high-end district.

The company, based in Pelham, Ala., spent $2.2 million to buy 340, 342, 346 and 348 N. Wrenn St., 329, 331 and 333 N. Hamilton St., and 206 Richardson Ave., according to a Guilford County Register of Deeds filing. The seller is Summit Avenue High Point LLC of Charlotte.

The real-estate transactions are connected to Gabriella White’s plans, announced in October, to acquire Stanford Furniture of Claremont.

Richard Craver

Kontoor CEO Baxter named to Callaway Golf boardThe board of directors for Callaway Golf Co. said Thursday it has elected Scott Baxter, president and chief executive of Kontoor Brands Inc., to its board, effective immediately.

Baxter will stand for election for a full one-year term at Calloway’s 2020 shareholder meeting. His election increases the Calloway board to 11 members.

Prior to becoming Kontoor’s chief executive in August 2018, Baxter served as group president for the Americas West’s division of VF Corp.

“With the strategic expansion of our apparel business, the board felt it was important to bolster its perspective with a new director that could bring significant apparel experience,” said Ronald Beard, Callaway’s chairman.

“Scott fits this perfectly, given not only his significant experience in the apparel space generally, but also his prior experience in the active outdoor apparel space.”

Richard Craver

Surrey Bancorp board declares two dividends

The board of directors of Surrey Bancorp declared Friday a special cash dividend of 12 cents per share on its common stock. The Board also declared a regular quarterly cash dividend of 10 cents.

Both dividends are payable Jan. 9 to shareholders registered as of Dec. 20.

Richard Craver

S&P 500 snaps 6-week string of gains

NEW YORK — U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.

Banks, health care stocks and companies that rely on consumer spending powered much of the rebound, outweighing losses in technology, real estate and other sectors. Oil prices fell. Uncertainty about whether the U.S. and China can soon halt their trade dispute weighed on markets this week.

The Associated Press

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