CONTACT:
B. Grant Yarber
President and Chief Executive Officer
Phone: (919) 645-3494
Email: gyarber@capitabank-nc.com
Horatio Alger Association Honors Capital Bank Corp. Board Member
Carl Ricker named to the Horatio Alger Association of Distinguished Americans
Raleigh, N.C. — April 8, 2008 — Carl H. Ricker, Jr., board member of Capital Bank Corporation, was honored along with 11 other recipients of the 62nd annual Horatio Alger Association of Distinguished Americans this weekend in the nation’s capital. The formal induction ceremony took place at the U.S. Supreme Court on Thursday, April 2 and the awards gala was held at Constitution Hall on Friday, April 3.
The Horatio Alger Association of Distinguished Americans honors the achievements of outstanding individuals in our society who have succeeded in spite of adversity and who encourage young people to pursue their dreams through higher education.
Ricker is the owner and president of Azalea Development Management Company based in Asheville, N.C. Ricker joined the Capital Bank board of directors in 2005; he is the current chairman of the Executive Committee of Capital Bank, as well as Capital Bank Holding Co.
“This is an outstanding honor for a great American citizen whose hard work has led to well-deserved success,” said B. Grant Yarber, president and CEO of Capital Bank. “The Horatio Alger membership represents the realization of the American dream and when you look at the list of members, it’s evident how extraordinary this recognition is for those who receive it.”
Ricker also serves as a real estate partner in Campus Crest Communities, a provider of housing for college students. Ricker is dedicated to helping others achieve their dreams and is an active supporter of the University of North Carolina at Asheville, Boys Clubs of America, Hospice of Western North Carolina and Mission Children’s Hospital.
Ricker was raised by his mother in very humble beginnings in Western North Carolina, living off social security payments of $64 a month. Despite difficult circumstances, his mother worked to provide a loving home environment and encouraged him to make the best of his life and talents. Through land and commercial building investments, Ricker eventually became one of the largest private real estate investors in the Southeast and continues to support his thriving business.
Some of the other recipients of the award this year include: Denzel Washington, Academy-Award winning actor and director; Stephen A. Wynn, Wynn Resorts CEO; David Foster, producer, composer and arranger, Reprise Records and 143 Records; Indra K. Nooyi, PepsiCo CEO and chairman and Michael G. Morris, CEO of American Electric Power.
Founded in 1947, the Horatio Alger Association of Distinguished Americans continues to fulfill its mission of honoring the achievements of outstanding individuals in our society who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. Among the Association’s 600 members are well-known Americans including the noted poet Maya Angelou, author and broadcaster Lou Dobbs, astronaut Buzz Aldrin, former Secretary of State Colin Powell and television personality Oprah Winfrey.
The Horatio Alger Association offers three annual scholarship programs: the National Scholarship Program for high school seniors, various state scholarship programs and the Horatio Alger Military Veterans Scholarship Program for U.S. veterans of the Afghanistan and Iraq conflicts. For more information about the scholarships, please visit www.horatioalger.org.