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Business

  • 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.

  • Carroll IDA sells natural gas lines

    HILLSVILLE – The Carroll County Industrial Development Authority (IDA) announced Dec. 23 that it has sold the county’s natural gas line to Appalachian Natural Gas (ANG).

    The deal announced at a called meeting last Wednesday will also expand natural gas to the City of Galax and Grayson County.

  • Mink Motors consolidates operations into single location

    Staff Reports

    Mink Motor Co. of Galax will carry on at a single location at 620 S. Main St. after the first of the new year, although the main Mink’s building that served as the East Galax voting location on Glendale Road will be closing as the result of an expected sale.

    Some confusion about plans for the building stemmed from discussion at a city council meeting Monday, at which Voter Registrar Stacy Reavis stated that Mink had plans to close.

  • Grayson names winners of 2015 business challenge

    INDEPENDENCE — Five local entrepreneurs were recently announced as the winners of the Mount Rogers Business Challenge, a joint venture geared towards jump-starting new and existing local businesses.

    The contest was sponsored by the Blue Ridge Crossroads Small Business Development Center (SBDC), the Blue Ridge Crossroads Economic Development Authority (BRCEDA) and Grayson County.

  • GNB, Bank of Floyd to merge

    Staff Report

    The parent companies of Grayson National Bank and Bank of Floyd will combine.

    Cardinal Bankshares Corp., parent company of Bank of Floyd, and Grayson Bankshares, Inc., parent company of Grayson National Bank, announced the agreement Sunday.

    The two community banks have more than 200 years of combined history.

    A news release said the two recognize a unique opportunity to joining together to serve the community.