Monday's headlines from the Charleston Regional Business Journal

CresCom to be acquired by W.Va. bank

Carolina Financial Corp., the parent company of CresCom Bank, has agreed to be acquired by United Bankshares Inc., based in Charleston, W.Va. The merger has been unanimously approved by both companies' boards and is expected to close in the second quarter of 2020, pending regulatory and shareholder approvals.

Chandler resigning from Patriots Point board

Ray Chandler, board chairman for the Patriots Point Development Authority, will resign at the end of the year, according to a news release. His resignation is effective Dec. 31, and Vice Chairman Wayne Adams will lead the board until Gov. Henry McMaster appoints a replacement.

Ingevity Corp. gets funding from Upstate group for new headquarters project

The Innovate Fund, a community development entity managed by Tax Advantage Group and Greenville Local Development Corp. has allocated $7 million in New Markets Tax Credits to provide flexible, below market financing to Ingevity Corp. for the buildout and upfit of its new 84,283-square-foot headquarters in North Charleston.

Hot Properties

Ed Kercher of Cushman & Wakefield Thalhimer represented the tenant, Apex Systems LLC, in the lease of 2,750 square feet of office space at 297 Seven Farms Drive in Charleston.

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