Gaston S& merges with HomeTrust; Sunnydale sold

Published 1:06 pm Monday, July 19, 2010

HomeTrust Banking Partnership, parent company of Tryon Federal Bank, is getting another member.

Cherryville Federal Savings and Loan will become the seventh member of the partnership, a group of mutual banks that have merged to share top management and support services.

Gaston County-based Cherryville has one office, 13 employees and $101.4 million in assets.

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The merger, which officials expect regulators to approve in September, will bring the partnership to $1.7 billion in assets, 275 employees and 20 offices. HomeTrust said it will become the 13th largest bank based in North Carolina.

Stan Allen, Cherryvilles president and CEO, said his bank is in good shape financially but decided to make the move because its small size made dealing with government regulation and packaging its mortgage loans for resale to investors more difficult.

Mutual banks are owned by their depositors and many have traditionally focused on home mortgages.

The HomeTrust Partnership began in 1996, although most of its member institutions predate World War II. It combines the resources of the member banks, which stretch from Haywood County east to Rockingham County, while allowing for local control.

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Barbara Pierce-Britt has announced that on July 8 she sold the restaurant in Tryon which used to be El Chile Rojo and Plenty of Fish, to Bob Lane from Charleston, S.C. Britt said Lane plans to restore the building to the original Sunnydale. Announcements as to the future use of the building will be forthcoming.

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Saluda Mountain Jamboree, located just off I-26 at Exit 59,&bsp; has begun a Friday night series, Beach in the Mountains, beginning this Friday, July 23, with The Mighty Tams. Shag dancing and beach music will be featured every Friday night.

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Patrick Daniels has joined Turner HD Media as Business Development Manager handling local, regional and national accounts. Daniels, a native of Pennsylvania who now lives in Tryon, attended Elon College, Elon, N.C. He served as a flight engineer in the U.S. Air Force Reserve at McGuire AFB in New Jersey, and after his honorable discharge at the rank of sergeant has worked in a variety of sales and managerial positions, both in advertising and in high tech industries.&bsp; &bsp;

Turner HD Media was founded in 1998 in Cincinnati, Ohio, as ETLT Productions. The Turners, both broadcast radio veterans, offer a variety of services including Music/Messages On-Hold, Web Videos, Radio and TV Commercials, Instructional, Institutional and Trade Show Videos as well as concept development, copywriting, and assistance with web design.

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Edward Jones Financial Advisor Jay Geddings of Polk County recently received the Jack Phelan Blue Blazer Award for his outstanding business building skills and client service efforts over the past year.

When you work for a firm that is known for its outstanding service, Geddings said, its quite an honor to be singled out for your service record.

James D. Weddle, Edward Jones managing partner, added, Jay is an outstanding member of the Edward Jones team who personifies the ideal financial advisor, someone who is 100% dedicated to serving the financial needs of his clients. I am very pleased to present this well-deserved award.

Only 147 of the firms more than 12,000 financial advisors received the Jack Phelan Blue Blazer Award.

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Kaye Cannon, North Carolina Licensed Massage and Bodywork Therapist #9557, recently completed a 32 hour training course in Assisted Integrated Stretching(AIS). AIS is a technique that helps maintain/increase range of motion. It can benefit anyone, but has particular application for athletes, people with chronic pain, and those who have suffered joint injury. &bsp;

Kaye practices at Tryon Therapeutic Massage in Lynn, and sees clients early evenings Monday Friday and all day on Saturday and Sunday. Appointments are required.

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Pardee is offering a new class, Seniors in Motion. The new class is located at the Pardee Rehab and Wellness Center, 212-B Thompson Street near Epic Theaters. Classes will take place each Wednesday and Friday from 10 until 10:30 a.m. The class is free to wellness members and Pardee associates, and costs $3 for the community. &bsp;

This class is designed to help promote range of motion, breathing, stretching and moving the entire body with the aid of motivating music. Participants are required to stand independently and tolerate light to moderate cardiac exercise.

For more information about Seniors in Motion or for additional class information please call the Rehab and Wellness Center at (828) 698-6774.