SouthPoint, Merchants agree on merger
SouthPoint Bancshares and Merchants Financial Services, parent companies of SouthPoint Bank and Merchants Bank of Alabama, will merge, with a combined $1 billion in assets, $895 million in deposits and 10 branches. Merchants Bank will continue to operate under its name as a division of SouthPoint. – Banking Exchange
Huntsville company awarded $9M defense contract
Huntsville-based Intuitive Research and Technology Corp. has been awarded an $8.4 million contract for technical support for a prototype integration facility. Estimated completion date is Aug. 25, 2022. – Defense Daily
PNC Bank raising its minimum pay rate 20%
PNC Bank, which after a merger with BBVA will be the 5th-largest U.S. bank and second in Alabama in deposit market share, is raising its minimum pay rate from $15 an hour to $18 an hour. The increase will impact both PNC employees in legacy markets and BBVA USA employees converting to PNC in October. – PNC Bank
Hoover’s Perfect Note expanding to Atlanta
Perfect Note, a restaurant and live music venue in Hoover, will be opening a location in Atlanta next year, its owners say. A location will open in February 2022 on Windy Hill Road in Marietta. – What Now Atlanta
