SouthPoint, Merchants agree on merger; Huntsville company awarded $9M contract; PNC raising its minimum pay rate; Hoover’s Perfect Note expanding

SouthPoint Bancshares and Merchants Financial Services, parent companies of SouthPoint Bank and Merchants Bank of Alabama, will merge.

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%

- Sponsor -

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

 

 

The latest Alabama business news delivered to your inbox