First Charter News

John Augustine, the chief investment strategist for Fifth Third Private Bank , says the stock market has been so "erratic and frustrating" that he's losing sleep.

Fifth Third Bancorp is pitching its arrival in Charlotte with a glitzy new ad campaign.

Mercantile Bancorp, Inc. today reported unaudited net income of $1.3 million or $0.15 per share for the quarter ended June 30, 2008 compared with net income of $2.4 million or $0.27 per share in second quarter ...

Mercantile Bancorp, Inc. today reported unaudited net income of $1.3 million or $0.15 per share for the quarter ended June 30, 2008 compared with net income of $2.4 million or $0.27 per share in second quarter ...

A lawsuit alleges a Charlotte bank committed fraud and negligence in connection with a $100 million real estate scheme.

The current investigation of Jefferson attorney Michelle T. Shepherd began with a check.

“Image is a lot in marketing and sales and about 80 to 90 percent of our prospects begin in our office”

Officials cut the ribbon at the new LEDA building at 502 East Main Street in Lincolnton. via Lincoln Times-News

Financial terms of the deal weren't disclosed. The purchase gives Fifth Third a foothold in Atlanta, helping solidify its expansion into the South. via Charlotte Business Journal

Charlotte Business Journal - by Will Boye Fresh on the heels of its acquisition of a $226 million-asset bank in Columbia, S.C., Spartanburg, S.C.-based First National Bancshares Inc. via Bizjournals

“REIT position has certain facts that are similar”

First Charter Corp. will pay more than $15 million to the state Department of Revenue to compensate for several years of using a disputed tax structure, the bank said Friday.

The Charlotte-based bank reported the settlement in a filing with the Securities and Exchange Commission. The settlement will reduce profits by about $6 million in the first quarter, the bank said. Those earnings have yet to be released; the bank's fourth-quarter profits were about $9 million.

First Charter's tax troubles are related to a ruling released in January by a Wake County judge involving Wal-Mart and an alleged tax shelter. The court ruled against Wal-Mart Stores Inc., which was essentially paying rent to itself and deducting the amount from its taxes. The retailer had transferred ownership of its stores to two REITs, or real estate investment trusts, which it owned. Wal-Mart then paid tax-deductible rent to the REITs. Read more

FreedomWorks Foundation will be hosting a Capitol Hill policy luncheon on the subprime bailout issue featuring its Chief Economist Dr. via Business Wire

First Charter Corporation announced a donation of $25,000 for a new East Lincoln, North Carolina YMCA educational and recreational facility. via Earth Times

First Charter pledges $10,000

For the sixth consecutive year, First Charter Corp. has pledged $10,000 to the Cabarrus Arts Council.The arts council reaches more than 300,000 people each year through a variety of programs and sponsorships, including a performing arts series for students in grades K-12, the Arts Council Galleries and grants for artists and arts organizations, according to information from the organization.

First Charter was the first corporation to give the arts council a $10,000 annual gift. Read more

A shareholder of Fifth Third Bancorp has filed a lawsuit to stop the bank from buying First Charter Corp. via Charlotte Business Journal

Neil O'Rourke of Apex has pleaded guilty to conspiracy in relation to a failed real estate development that reduced earnings at Charlotte-based First Charter Corp. via Charlotte Business Journal

Are there diamonds in the rough in our PowerRatings Today's Downgrades List? Sometimes, when a PowerRating moves lower, it only means that investors are clueing in to a great opportunity to buy low and sell ... via TradingMarkets.com

“Fifth Third Bank stands by its record of serving the community”

Fifth Third's $1.1 billion takeover of North Carolina's First Charter Corp. may have been stalled by community groups here and in the Tar Heel State, who accuse both banks of inadequate lending to lower-income ... via The Cincinnati Enquirer

Delta, United and Continental doubled their round-trip fuel surcharges in most U.S. markets to $40, matching an increase by American Airlines. via The Cincinnati Enquirer

“We are pleased with the overwhelming shareholder support of the upcoming merger and look forward to introducing the Fifth Third brand to our markets.”

It was announced at the meeting that shareholders overwhelmingly approved the merger with Fifth Third by over 99% of shares voted. via PR-inside.com

“First Charter and Fifth Third are committed to helping individuals and organizations in our communities toward a better future”

First Charter Corporation and Fifth Third Bancorp announced today a donation of $25,000 to Pride Entrepreneur Education Program, , a newly formed 501 organization in Charlotte. via Lincoln Tribune