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home : news : business July 6, 2020

4/9/2020 5:02:00 PM
Business News
Burton Farms General Store is now open at 317 E. Main Street in downtown Lincolnton.
Burton Farms General Store
is now open at 317 E. Main Street
in downtown Lincolnton.

+ view more photos
Carolina Trust Bank will become
United Bank later this year.


Wayne Howard
Staff Writer


You might want to fill your tank before the bargain price you've been enjoying disappears.  The price of gas is almost certainly going up. The reason is simple--the price of crude is likely going up again.

Saudi Arabia and Russia agreed to record oil production cuts in an effort to revive the oil market from its recent slump. Even so, prices fell on Monday, but it appears that the long-term effect of the production cuts will help to first increase and then stabilize prices.  On Monday morning prices of regular gas in Lincolnton were just under $1.40 a gallon and in Denver just over $1.60.  

The COVID-19 pandemic didn't stop one new business from opening. Burton Farms new store opened Wednesday at 315 E. Main Street. They've previously operated a location in Conover and decided last year that Lincolnton would be a good expansion location. They're a produce store--with a variety of produce sourced locally when available as well as trucked in from other areas (they already have watermelons, none ripe here quite yet). They also sell gardening supplies (like plants including flowers) and a variety of crafts, etc.

They've already been active in the community.  They recently responded to a request from the United Way to help out in the Lincoln County Schools effort to feed children and families while the schools are closed with gifts of 200 pounds of potatoes, 160 pounds of strawberries and 100 pounds of tomatoes.

With The Meating Place right down the street, the arrival of Burton Farms General Store makes downtown Lincolnton a good place to buy groceries again!

Local banks have long been the target of mergers with larger banks. One of those deals was announced this week, although it had really been made some time ago. Lincolnton's Carolina Trust Bank was first acquired by Carolina Financial, a Charleston, South Carolina, banking company. Then United Bank reached an agreement to acquie Carolina Financial. The headquarters will still be in Charleston, but now West Virginia (United Bank's HQ) instead of SC.

Jerry Ocheltree, president and CEO of Carolina Trust, sent out a letter to customers telling them about the latest merger. The bank won't change its name right away; that's expected by late Summer.

Meanwhile, another new bank has opened. Chances are you've seen the ads on the Lincoln Herald website for Community First Bank, which opened its first North Carolina office in Dallas in February, utilizing a building that formerly held the now-closed Dallas location of Bank of America. Community First Bank has been around in upstate South Carolina since 1990. While it was their first in North Carolina, the Dallas location is their ninth full-service financial center. They're opening a tenth location in Charlotte this month.



1 - Court Street Grill 300

 
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