published Friday, December 14th, 2012

Business Briefs: HCA to promote Parkridge CFO

HCA to promote Parkridge CFO

Jay St. Pierre, chief financial officer of HCA's Parkridge Health System, has been promoted to a similar job at HCA's North Florida Regional Medical Center in Gainesville, Fla. According to Parkridge President Darrell Moore, St. Pierre will assume his new role in January.

"Jay has done an outstanding job during his time at Parkridge Health System, and he will be a great addition to the North Florida Regional Medical Center team," Moore said.

St. Pierre has been with HCA since 2002 and joined the company's TriStar Division in 2009.

CBL to expand Fayetteville mall

CBL & Associates Properties Inc., the Chattanooga-based shopping mall development company, announced Thursday it is expanding its Cross Creek Mall in Fayetteville, NC.

The 46,000-square-foot expansion will add Chico's, LOFT, White House 5/8 Black Market, Men's Wearhouse, Reed's Jewelers and Lane Bryant. Additional stores and restaurants will be announced as the project progresses.

Construction on the expansion is scheduled to begin in early 2013, with a grand opening anticipated by next fall.

Synovus sells distressed assets

Synovus Financial Corp., the parent company of the Cohutta Banking Co., said Thursday it expects to absorb about $155 million in pre-tax charges in the fourth quarter as it completed the sale of roughly $530 million worth of distressed assets.

The company's CEO Kessel Stelling said the transaction would "strengthen our balance sheet, improve asset quality, and enhance future earnings."

The bank based in Columbus, Ga., said the sale was completed effective Dec. 10.

The bank said the sale included $400 million in non-performing assets, $110 million in loans rated accruing substandard and $20 million in loans rated special mention.

Synovus shares fell 2 cents to close at $2.44. They traded as high as $2.60 in October and as low as $1.30 almost a year ago.

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