Wednesday, Feb. 03, 2010

Business Notes

New business

In Clayton, Lucky Paws Doggy Day Care has opened in the old Merita Bread Outlet at 2900 U.S. 70 Business E.

Award-winning business

The People Chasers, a Clayton-based company, has received a 2009 Best of Business Award from the Small Business Commerce Association.

The People Chasers specializes in finding research subjects who have taken part in long-term studies but can no longer be found by researchers. The company received its award in the Survey Service: Locating category. The Small Business Commerce Association bases its awards on consumer feedback.

Bank earnings up

First Citizens BancShares Inc. has reported 2009 earnings of $115.6 million, or $11.08 per share. A year earlier, earnings were $91.1 million, or $8.73 per share.

Results for 2009 include after-tax gains of $63 million related to the acquisitions of Temecula Valley Bank in Temecula, Calif., and Venture Bank in Lacey, Wash. The Federal Deposit Insurance Corp. helped First Citizens with the acquisitions.

Net interest income during 2009 increased $12.1 million, or 2.4 percent, versus 2008.

The provision for loan and lease losses increased $11.1 million, or 16.8 percent. Net charge-offs for 2009 totaled $64.7 million, compared to $45.3 million in the same period of 2008.

Separately, the bank has declared a quarterly dividend of 40 cents per share. The dividend is payable April 5 to shareholders of record March 15.