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Business

  • Shareholders approve merging local banks

    Staff Report

    INDEPENDENCE – Grayson National Bank and Bank of Floyd and their respective holding companies, Grayson Bankshares and Cardinal Bankshares, announced last Thursday that their shareholders have overwhelmingly approved a merger combination of their banks.

    The companies combined have more than 200 years of community banking heritage.

  • Bassett shares business wisdom in new book

    John Bassett III, chairman of Vaughan-Bassett Furniture, never appears to think himself too good to talk to anyone, and never talks but that he reminds even the casual listener of a hard-but-fair general making battle plans.

  • Grayson LandCare opens new office

    INDEPENDENCE — Grayson LandCare and the Independence Farmers’ Market had a lot to celebrate May 13, as the first market of the season kicked off in the Independence Town Square, followed by the grand opening and ribbon cutting at Grayson LandCare’s new office at 110 Courthouse Street.

    The Farmers’ Market was bustling with customers from 9 a.m.-1 p.m. that Friday, with several returning vendors offering fresh fruits, plants, baked goods and hand-made items.

  • Old Galax bank has new owner

    While one vacant downtown Galax bank building – the old Carter Bank & Trust – has been pulled down, the former Wachovia bank building at 200 N. Main Street has been purchased by LB Capital Management.

  • Regulators approve bank merger

    Staff Report

    The application by Grayson National Bank and Bank of Floyd to combine into a single holding company has been approved by federal and state regulators.

    The combination was approved by the Virginia Bureau of Financial Institutions, the board of governors of the Federal Reserve System and Office of the Comptroller of the Currency.

    Cardinal Bankshares Corp., the parent company of Bank of Floyd, and Grayson Bankshares Inc. announced the approval on Monday.

  • Bank to hold merger meetings

    Staff Report

    The Board of Directors of Grayson Bankshares Inc. and Grayson National Bank announced that a special shareholder meeting will be held May 24, at the Independence Volunteer Fire Department at 529 Davis Street at 1 p.m.

    As in the past, small group informational meetings will also be held in advance on May 9 and May 11.

    Board Chairman Tom Jackson said, “We look forward to seeing our shareholders, reviewing our recent results and our plans for the future, including our planned combination with the Bank of Floyd.”

  • Radio station changes name, format

    If you tune in to 1360-AM on April 1 and hear “Stairway to Heaven” instead of “Amazing Grace,” it’s not an April Fool’s Day prank and you’re not having a flashback to the radio station’s format from the 1970s.

    At noon on April 1, the Galax station is changing its format from gospel to classic rock, and its call letters from WWWJ to WCGX, “The Cat.”

    The new station will launch by playing Bob Seger’s “Old Time Rock and Roll.”

  • Factory could return to regular production Monday

    Vaughan-Bassett Furniture has announced that factory employees should be ready to come back to work on Monday.

    The company’s special website (www.vbgalax.com) also says that employees will be informed by today, Friday, whether their departments will work on Monday.

    The website was created in the wake of the Feb. 3 finishing area contamination to keep employees current on closings.

    Company President Doug Bassett said Wednesday that the news listed on the site was accurate and up to date.

  • AEP: Wildwood ready to do business

    Staff Reports

    Wildwood Commerce Park has earned site certification through American Electric Power’s Quality Sites Program, which makes the Carroll County site more marketable to potential industries.

    Located at Exit 19 of Interstate 77 in Carroll County, Wildwood is a 273-acre regional industrial park with graded 100- and 25-acre sites and utilities in place.

  • Mirror plant fined for worker's death

    After meeting with the Virginia Occupational Safety and Health Administration (OSHA), the American Mirror Company’s original eight citations related to a maintenance worker’s death were reduced to four, and the final fees exacted were $2,450, down from a projected $10,675.

    Benjamin Lee Hancock, 34, of Hillsville, died on July 23, 2014, when he became trapped in a piece of equipment at the company’s plant on East Stuart Drive in Galax, and suffocated, according to Galax Fire Chief David Hankley at the scene.